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Inactive Financial Institution Letters

Community Reinvestment Act
Revisions to Interagency Questions and Answers
March 11, 2010

Summary: The FDIC, the Federal Reserve Board, the Office of the Comptroller of the Currency and the Office of Thrift Supervision have published revisions to the Interagency Questions and Answers Regarding Community Reinvestment (Q&As). After considering comments received on the proposed Questions and Answers, the agencies adopted one new question and answer, and two revised questions and answers. A new question provides examples of how to demonstrate that community development services meet the criteria of serving low- and moderate-income areas and people. The revised Q&As enable consideration of a pro rata share of mixed-income affordable housing projects as community development projects.

  • A new Q&A, § __.12(g)(2) –1, provides examples of ways an institution, providing community services targeted to low- and moderate-income individuals, can determine that the community services are appropriately targeted when information on actual income is not available.
  • A revised Q&A, § __12(h) – 8, addresses when an activity can be considered to have a "primary purpose" of community development. It indicates that activities related to the provision of mixed-income housing—such as a development that has an affordable housing set-aside for low- and moderate-income individuals—would be considered community development activities. For such a project, an institution may receive pro rata consideration for the dollar amount of the loan or investment based on the percent of units set aside for affordable housing for low- or moderate-income individuals. As in the past, when the express, bona fide intent of an activity is community development, such as for the Low-income Housing Tax Credit Program, the full amount will be considered.
  • A revised Q&A, § __.42(b)(2) – 3, adjusts reporting requirements for community development loans to address the percent of units set aside for low- or moderate-income individuals.

FDIC-Supervised Banks (Commercial and Savings)

Suggested Routing:
Chief Executive Officers
CRA Officers
Compliance Officers

Related Topics:
Community Reinvestment Act

Interagency Questions and Answers Regarding Community Reinvestment - PDF (PDF Help)

Janet Gordon, Senior Policy Analyst, Compliance Policy Section, or (202) 898-3850; or Susan van den Toorn, Counsel, or (202) 898-8707

FDIC financial institution letters (FILs) may be accessed from the FDIC's Web site at

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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 11/26/2018

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