WebDec 20, 2024 · Intermediate small bank means a small institution with assets of at least $376 million as of December 31 of both of the prior two calendar years and less than $1.503 billion as of December 31 of either of the prior two calendar years. These asset-size thresholds are effective January 1, 2024. Posted in CRA, FDIC, Federal Reserve Board … WebDec 15, 2024 · I. Background. Congress enacted the Community Reinvestment Act (CRA) [ 1] in 1977 to encourage insured depository institutions (IDI) [ 2] to help meet the credit needs of their entire communities, including low- and moderate-income (LMI) neighborhoods, consistent with the safe and sound operation of the IDIs. [ 3]
AGENCIES ANNOUNCE 2024 CRA ASSET-SIZE THRESHOLDS
WebNov 9, 2024 · For CRA examinations that evaluate bank activities conducted during the transition period and before the effective date of new guidance or examination procedures, the 1995 rule examination procedures used will be based on bank type as described in FAQ 12. Specifically: A small bank is subject to the 1995 rule’s small bank examination … WebApr 12, 2024 · The U.S. Small Business Administration (SBA or Agency) is amending its business loan program regulations to lift the moratorium on licensing new Small Business Lending Companies (SBLCs) and add a new type of lending entity called a Community Advantage SBLC. ... lender of less than three loans in their first year of 7(a) loan activity. … fairford gas works
FDIC: PR-104-2024 12/16/2024 - Federal Deposit …
WebDec 16, 2024 · The threshold for small banks was revised most recently in December 2024 and became effective January 1, 2024. 85 FR 83747 (Dec. 23, 2024). The current CRA regulations provide that banks that, as of December 31 of either of the prior two calendar years, had assets of less than $1.322 billion are small banks. WebJan 5, 2024 · Under the 2024 final rule, banks are evaluated under different CRA examination procedures based on their asset-size threshold amounts. As previously covered by InfoBytes , the Federal Reserve Board and the FDIC also announced joint annual adjustments to the CRA asset-size thresholds used to define “small bank” and … WebDec 16, 2024 · The Federal Reserve Board and the Federal Deposit Insurance Corporation today announced the 2024 updated asset-size thresholds used to define “small bank” and “intermediate small bank” under their Community Reinvestment Act (CRA) regulations. Annual adjustments to these asset-size thresholds are based on the … dogwood rockford illinois