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Financial Institution Letters

Community Reinvestment Act
Annual Asset-size Threshold Adjustment
FIL-145-2008
December 17, 2008


Summary: The FDIC, the Federal Reserve Board, the Office of the Comptroller of the Currency and the Office of Thrift Supervision have published 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.

Highlights:

  • The federal banking agencies have amended their CRA regulations to increase 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 4.49 percent increase in the CPI for the period ending in November 2008, 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 $1.109 billion.
    • "Intermediate small bank" or "intermediate small savings association" means a small bank with assets of at least $277 million as of December 31 of both of the prior two calendar years, and less than $1.109 billion as of December 31 of either of the prior two calendar years.
  • These asset-size threshold adjustments will take effect on January 1, 2009.
  • Current and historical asset-size thresholds are published on the Federal Financial Institutions Examination Council's Web site at www.ffiec.gov/cra/.

Distribution:
FDIC-Supervised Banks (Commercial and Savings)

Suggested Routing:
Chief Executive Officers
CRA Officers
Compliance Officers

Related Topics:
Community Reinvestment Act

Attachment:
Joint Final Rule

Contacts:
Deirdre Foley, Senior Policy Analyst, Compliance Policy Section, dfoley@fdic.gov or (202) 898-6612; or Susan van den Toorn, Counsel, svandentoorn@fdic.gov or (202) 898-8707

Printable Format:
FIL-145-2008 - PDF (PDF Help)

Note:
FDIC financial institution letters (FILs) may be accessed from the FDIC's Web site at www.fdic.gov/news/news/financial/2008/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).




Last Updated 12/17/2008 communications@fdic.gov