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)
Chief Executive Officers
Community Reinvestment Act
and Answers Regarding Community Reinvestment - PDF (PDF Help)
Janet Gordon, Senior Policy Analyst, Compliance Policy Section, firstname.lastname@example.org or (202) 898-3850; or
Susan van den Toorn, Counsel, email@example.com or (202) 898-8707
FDIC financial institution letters (FILs) may be accessed from the FDIC's Web site
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).