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Community Reinvestment Act Annual Asset-Size Threshold Adjustment

Community Reinvestment Act
December 29, 2010
Summary: The FDIC, the Federal Reserve Board, the Office of the Comptroller of the Currency and the Office of Thrift Supervision announced the attached joint final rule amending the Community Reinvestment Act (CRA) to make the annual adjustment to the asset-size threshold used to define "small bank" and "intermediate small bank" under the Act. The agencies will publish the adjustments in the Federal Register.

Highlights:
  • The federal banking agencies have amended their CRA regulations to publish an increase in the asset-size threshold to be used to define "small bank" and "intermediate small bank." The increase is based on the annual percentage change in the Consumer Price Index (CPI).
  • As a result of the 2.21 percent increase in the CPI for the period ending in November 2010, the definitions of small and intermediate small banks for CRA examinations have changed as follows:
    • "Small bank" or "small savings association" means a bank that, as of December 31 of either of the prior two calendar years, had assets of less than $1.122 billion.
    • "Intermediate small bank" or "intermediate small savings association" means a small bank with assets of at least $280 million as of December 31 of both of the prior two calendar years, and less than $1.122 billion as of December 31 of either of the prior two calendar years.
  • These asset-size threshold adjustments will take effect on January 1, 2011.
  • The FDIC estimates that approximately 25 banks will be affected. However, banks at the margins should review their status to determine if they have moved into the intermediate small bank or large bank category because of growth or due to the threshold change.
  • Current and historical asset-size thresholds are published on the Federal Financial Institutions Examination Council' Web site at www.ffiec.gov/cra/ .

Distribution:
FDIC-Supervised Banks (Commercial and Savings)

Suggested Routing:
Chief Executive Officers
CRA Officers
Compliance Officers

Note:
FDIC financial institution letters (FILs) may be accessed from the FDIC's Web site at www.fdic.gov/news/financial-institution-letters/2010/index.html .

To receive FILs electronically, please visit http://www.fdic.gov/about/subscriptions/fil.html .

Paper copies of FDIC financial institution letters may be obtained through the FDIC's Public Information Center, 3501 Fairfax Drive, E-1002, Arlington, VA 22226 (1-877-275-3342 or 703-562-2200).

Attachment(s)
Related Topics
Community Reinvestment Act

Last Updated: December 29, 2010