Highlights:
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The federal
banking agencies have amended their CRA regulations to increase the
asset-size threshold used to define "small bank" and
"intermediate small bank." The increase is based on the annual
percentage change in the Consumer Price Index (CPI). These asset-size
threshold adjustments will take effect on January 1, 2012.
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As a result
of the 3.43 percent increase in the CPI for the period ending in November
2011, the definitions of small and intermediate small banks for CRA
examinations have changed as follows:
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"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 $1.160 billion.
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"Intermediate small bank" or "intermediate small savings
association" means a small bank with assets of at least $290
million as of December 31 of both of the prior two calendar years, and
less than $1.160 billion as of December 31 of either of the prior two
calendar years.
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The FDIC
estimates that approximately 50 institutions will be affected. However, all
banks at the margins should review their status to determine if they have
moved into the intermediate small bank or large bank category because of
growth or the threshold change.
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Current and
historical asset-size thresholds are published on the Federal Financial
Institutions Examination Council 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; Technical
Amendment - PDF (PDF Help)
Contact:
Janet Gordon, Senior Policy Analyst, Division of Depositor and Consumer
Protection, jagordon@fdic.gov or (202)
898-3850; or Susan van den Toorn, Counsel, svandentoorn@fdic.gov or (202)
898-8707
Note:
FDIC Financial Institution Letters (FILs) may be accessed from the FDIC's Web
site at www.fdic.gov/news/news/financial/2011/index.html.
To receive FILs electronically, please visit http://www.fdic.gov/about/subscriptions/fil.html.
Paper copies 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).
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