Several significant revisions to the Community Reinvestment Act (CRA)
regulations took effect on September 1, 2005. The agencies developed the
attached Interagency Questions and Answers to address the revisions.
Fourteen Q&As concern the new changes, and two represent revisions to
The 14 new questions and answers:
- Address the revised definition of "community development," which
includes activities that revitalize or stabilize a distressed or
underserved nonmetropolitan middle-income geography or a designated
Address the community development test applicable to intermediate small
banks and how these banks will be evaluated under it.
Explain how examiners evaluate outstanding qualified investments made
during the prior evaluation period.
Clarify that any small bank (including an intermediate small bank) may
request that activities of an affiliate in the bank's assessment area(s)
be considered in its evaluation.
Explain that the asset size thresholds for "small bank" and
"intermediate small bank" will be adjusted annually based on changes to
the Consumer Price Index.
The revisions to two existing Q&Aamp;s provide additional clarification and
examples of community development services and qualified investments.
Continuation of FIL-23-2006
FDIC-Supervised Banks (Commercial and Savings)
CRA Officers, Compliance Officers, and
Chief Executive Officers
Community Reinvestment Act Joint Final Rules
Interagency Questions and Answers Regarding Community Reinvestment -
PDF 94k (PDF Help)
Freeman, Policy Analyst, Compliance Policy and Examination Support, email@example.com or (202)
FDIC financial institution letters (FILs) may be accessed from the FDIC's
Web site at www.fdic.gov/news/news/financial/2006/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 (1-877-275-3342 or 703-562-2200).