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Federal Deposit
Insurance Corporation

Each depositor insured to at least $250,000 per insured bank

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Inactive Financial Institution Letters


September 5, 2001

SUBJECT: HUD's 2001 Adjusted Median Family Income Figures

Attached are the 2001 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.

Median family income figures are used by the Federal Deposit Insurance Corporation (FDIC) and other federal financial supervisory agencies 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 levels as low- , moderate- , middle- and upper-income based on the area median income. Area median income is defined as:

  • The median family income for the MSA if a person or geographical area is located within an MSA, or
  • The statewide nonmetropolitan median family income if a person or geographical area is located outside an MSA (12 CFR 345.12(b)).
For further information about these figures or other CRA issues, please contact your FDIC Division of Compliance and Consumer Affairs regional office.
Stephen M. Cross

Attachment: Census Data Products

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, NW, Room 100, Washington, DC 20434 (800-276-6003 or (703) 562-2200).

Last Updated 09/05/2001

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