The 2-Minute Rule for 228 loan
The 2-Minute Rule for 228 loan
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(1) Information indicating that a financial institution bought shut-close property home loan loans, compact business enterprise loans, tiny farm loans, or auto loans for the only or Main function of inappropriately improving its retail lending effectiveness, including, although not limited to, information and facts indicating subsequent resale of such loans or any indication that such loans are viewed as in various depository establishments' CRA evaluations, in which circumstance the Board isn't going to think about these loans inside the bank's effectiveness analysis;
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The Board evaluates a constrained reason lender's Group development funding overall performance in Every single Condition or multistate MSA, as applicable pursuant to §§ 228.
If your Board receives a community remark ahead of the shut day of a financial institution's CRA examination, the general public remark are going to be viewed as in connection with that CRA examination.
) An index of the geographic regions served because of the Local community growth loan or community progress financial investment, specifying any county, Condition, multistate MSA, or nationwide location served; and
A financial institution matter to this component may perhaps request which the Board validate that a loan, investment decision, or service is suitable for community progress consideration by distributing a ask for to, and in a format prescribed by, the Board.
The Board's consideration with the department distribution metrics is read more informed by the following benchmarks:
These disclosure statements indicate the selection and greenback level of all tiny enterprise loans and little farm loans originated or bought for each census tract and the selection and dollar quantity of all Neighborhood development loans and Group growth investments for every county by reporting banking institutions, except the Board may perhaps adjust the form of your disclosure if important, as a consequence of Specific circumstances, to shield the privacy of a borrower or the competitive posture of a financial institution.
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The bank allocates the deposits for which a deposit locale will not be available to the nationwide region. Once-a-year deposits need to be calculated determined by common each day balances as offered in statements such as every month or quarterly statements. Almost every other financial institution that opts to collect and retain the data in this paragraph (a)(seven) should do this in the identical variety and for the same period as described In this particular paragraph (a)(seven).
(A) A bank may possibly specify annual measurable targets for Group growth loans, Local community enhancement investments, or each. The financial institution should foundation any yearly measurable goals for a percentage or ratio of your financial institution's Group growth loans and community progress investments for all or specific types of Neighborhood development described in § 228.
) Any increase in the calendar calendar year to an current community enhancement loan that may be refinanced or renewed or to an current community enhancement financial investment that is certainly renewed;
(i) Impedes its capability to execute at a satisfactory amount underneath the prepare, for example economic constraints due to important gatherings that influence the community or nationwide economy; or
A small bank, or perhaps a bank which was a small bank throughout the prior calendar calendar year, ought to include things like in its community file the bank's loan-to-deposit ratio for every quarter with the prior calendar 12 months and, at its alternative, further information on its loan-to-deposit ratio.