228 loan - An Overview
228 loan - An Overview
Blog Article
For every major merchandise line, the Board develops a different supporting conclusion for every class of census tracts and every classification of borrowers described in paragraphs V.a and VI.a of appendix A to this component.
) Large financial institutions that had assets below or equivalent to $10 billion as of December 31 in possibly from the prior two calendar yrs and that do not function branches.
An Modification to a prepare ought to comply with all suitable necessities of the portion, Except if the Board waives a necessity as not applicable.
When making use of functionality exams and strategic programs pursuant to paragraph (a) of the part, and when analyzing irrespective of whether to approve a strategic prepare pursuant to § 228.
(6) A financial institution's closed-conclude household mortgage lending, smaller business lending, modest farm lending, or automobile lending in distressed or underserved nonmetropolitan middle-revenue census tracts wherever a financial institution's nonmetropolitan facility-primarily based assessment region or nonmetropolitan retail lending assessment region features not many or no low- and reasonable-cash flow census tracts; and
(three) Gains or serves one or more geographic locations with minimal amounts of Neighborhood progress financing;
Pursuant to § 228.21, the Retail Lending Test evaluates a financial institution's report of assisting to meet the credit rating needs of its full Neighborhood with the bank's origination and purchase of house mortgage loan loans, multifamily loans, compact company loans, and tiny farm loans.
(two) In case the contributors or traders decide to allocate community progress loans or Neighborhood development investments between themselves for consideration underneath this section, no participant or investor may well assert a loan origination, loan obtain, or investment decision for community enhancement consideration if A further participant or investor claims the exact same loan origination, loan invest in, or expense; and
(1) Proof of detect publication and an outline of its attempts to hunt enter from associates of the general public, which include people and organizations the financial institution contacted And exactly how the bank gathered data;
(A) Submitting the Preliminary draft system for publication about the Board's website and by publishing the Preliminary draft prepare over the lender's Web site, If your lender maintains 1; and
A financial institution may possibly specify alternative weights for averaging examination performance across assessment spots or other geographic areas. These different weights must be based upon the lender's capacity and community wants and opportunities in unique geographic regions.
implies a loan, which include a lawfully binding determination to extend credit rating, like a standby letter of credit history, that supports Group improvement, as described in § 228.13. A Local community development loan doesn't include things like any residence home finance loan loan considered under the Retail Lending Take a look at in § 228.
The Board seeks to act upon a draft approach inside ninety calendar days after the Board gets the complete draft system and also other elements expected pursuant to paragraph (f) of the part.
) The allocation of loans, investments, expert services, and merchandise to some financial institution, or amongst affiliated banks, will have to mirror a reasonable foundation for your allocation and is probably not for the only or Main more info goal of inappropriately maximizing any bank's CRA analysis.