The Single Best Strategy To Use For 228 loan
The Single Best Strategy To Use For 228 loan
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means a financial institution, excluding a financial institution selected as being a restricted function financial institution pursuant to § 228.26, that experienced belongings of fewer than $600 million as of December 31 in either of the prior two calendar yrs. The Board adjusts and publishes the greenback figure in this definition on a yearly basis determined by the calendar year-to-yr adjust in the normal of The patron Price Index for Urban Wage Earners and Clerical Personnel, not seasonally altered, for every 12-month period ending in November, with rounding to the closest million.
(3) In the event the bank revised the Original draft plan in reaction to the general public enter acquired, the Preliminary draft approach as unveiled for public remark with an evidence with the applicable changes; and
The Board reviews the affect and responsiveness of a lender's Neighborhood development loans and Group development investments that benefit or provide a facility-dependent evaluation place, as furnished in § 228.15.
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means retail economical expert services provided by a bank to individuals, smaller businesses, or compact farms and incorporate a bank's techniques for providing retail economic products and services.
The Board evaluates a little lender's document of helping to meet up with the credit history wants of its overall community pursuant for the Smaller Lender Lending Test as presented in paragraph (a)(two) of the part, Except the small bank opts to become evaluated pursuant for the Retail Lending Exam in § 228.22.
The loans, investments, companies, and products of a financial institution's functions subsidiary should be included in the financial institution's plan, Unless of course the operations subsidiary is independently subject matter to CRA specifications.
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(A) A lender could ask for an alternate weighting approach for combining performance beneath the relevant overall performance assessments and optional analysis elements. In specifying choice check weights for every relevant test, a financial institution will have to emphasize retail lending, community growth funding, or each.
The Board prices the functionality of the intermediate financial institution evaluated below this segment as offered in appendix D to this element.
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(2) A retail lending assessment area may not extend past a State boundary Unless of course the retail lending assessment region includes counties within a multistate MSA.
); the term “uninsured State branch” means a State branch the deposits of which are not insured with the Federal Deposit Insurance policies Company; the phrase “constrained branch” means a Condition department that accepts only deposits which might be more info permissible for an organization structured under portion 25A in the Federal Reserve Act (12 U.S.C. 611 et seq.