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Financial Institution Letters
January 11, 1996
EXECUTIVE OFFICER AND
as Wholesale or Limited Purpose
Institutions; Submissions of Strategic Plans
| The recently
revised Community Reinvestment Act (CRA) regulations include provisions
allowing an institution with unique or narrow business strategies
to be designated as a wholesale or limited purpose institution subject
to specially tailored CRA performance criteria. Any institution
also can elect to be evaluated on the basis of a CRA "strategic
plan" developed by the institution with input from the community.
To exercise these options, however, an institution must obtain approval
from its appropriate federal regulator. Attached are procedures,
developed on an interagency basis, that institutions must follow
in submitting these requests.
All requests from FDIC-supervised institutions should be submitted in writing to their Division of Compliance and Consumer Affairs (DCA) regional office. DCA regional office staff also are available to answer any questions about these options or the approval process. A list of regional offices is attached.
Distribution: FDIC-Supervised Banks (Commercial and Savings)
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