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Inactive Financial Institution Letters 

Community Reinvestment Act

April 23, 1998


SUBJECT: HUD's 1998 Adjusted Median Family Income Figures

At the request of financial institutions, the Federal Deposit Insurance Corporation (FDIC) is providing the attached list of 1998 median family income figures developed by the Department of Housing and Urban Development (HUD) for each metropolitan statistical area (MSA) and the statewide portions of nonmetropolitan areas.

The FDIC and the other federal financial supervisory agencies use median-family income figures to classify the income levels of borrowers in Community Reinvestment Act (CRA) evaluations. HUD's annually adjusted figures provide a viable measuring standard for assessing an institution's level of lending based upon borrower income. CRA regulations classify income level as low, moderate, middle, or upper based on the area median income. Area median income is defined as:

* the median family income for the MSA if a person or geographic area is located within an MSA, or

* the statewide nonmetropolitan median family income if a person or geographic area is located outside an MSA (12 CFR 345.12(b)).

The attached list shows, for each MSA, the median family income figure established by the 1990 U.S. Census and HUD's estimated median family income figure adjusted for 1998. The last section of the list shows the 1990 U.S. Census figures and 1998 HUD figures for the nonmetropolitan portions of each state (including all areas within the state that are outside an MSA).

CRA information is available through the Internet from the FDIC's Web site: . The Web site is continually being enhanced with new CRA-related resources and material of interest to the public and the industry. From this site, and the easily accessible links it provides to other agencies' CRA Web sites, readers can view and print such items as the interagency CRA examination procedures; questions and answers; interpretive letters; and the FDIC's CRA examination schedule, ratings and performance evaluations. A link to the FFIEC's Web site provides the aggregation statements for 1996, the most current CRA data available. The 1997 data, which were submitted to regulators by last month, should be available at the same site in a few months.

For further information about the 1998 median family income figures or other CRA issues, please contact your FDIC Division of Compliance and Consumer Affairs regional office on the attached list.

Carmen J. Sullivan

FDIC-DCA Regional Offices
Median Family Incomes List
(below - also available on the www at /news/news)

Distribution: FDIC-Supervised Banks (Commercial and Savings)

NOTE: Paper copies of FDIC financial institution letters may be obtained through the FDIC's Public Information Center, 801 17th Street, N.W., Room 100, Washington, D.C. 20434 (800-276-6003 or (703) 562-2200).

Last Updated 07/17/1999

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