what is examined in the cra lending test

what is examined in the cra lending test

(f) Banks serving military personnel. (iii) Low satisfactory. (iv) Consumer loans, if applicable, to low-, moderate-, middle-, and upper-income individuals; (4) Community development lending. `f>'}1}8nbVbeg-AcYsnRYcb]J (4) Banks with strategic plans. It is not an official legal edition of the CFR. FRB Exam Schedules (2) May be allocated among participants or investors, as they choose, for purposes of the lending test, except that no participant or investor: (i) May claim a loan origination or loan purchase if another participant or investor claims the same loan origination or purchase; or. The Federal Reserve, the central bank of the United States, provides From data contained in Call Reports / TFRs, or UBPRs / UTPRs, calculate the average loan-to-deposit ratio since the last examination by adding the quarterly loan-to-deposit ratios and dividing by the number of quarters. 18141817, 18191820, 1828, 1831u and 29012907, 31033104, and 3108(a). At a bank's option, the FDIC will consider, in its assessment of a bank's investment performance, a qualified investment made by an affiliate of the bank, if the qualified investment is not claimed by any other institution. Retail Institutions, Limited Purpose and Wholesale Institutions, For institutions with more than one assessment area, identify assessment areas for full scope review. (C) Adequate responsiveness to credit and community development needs. Finally, CRA does not encourage the extension of unsafe or unsound credit. Partial credit for certain CRA qualifying activities. The FDIC rates an intermediate small bank's community development performance satisfactory if the bank demonstrates adequate responsiveness to the community development needs of its assessment area(s) through community development loans, qualified investments, and community development services. Insured State branches are branches of a foreign bank established and operating under the laws of any State, the deposits of which are insured in accordance with the provisions of the Federal Deposit Insurance Act. For suggestions regarding this site, Contact Us. The FDIC approves as satisfactory measurable goals that adequately help to meet the credit needs of the bank's assessment area(s). Joint Press Release Activities considered under the lending or service tests may not be considered under the investment test. The bank shall place this copy in the public file within 30 business days after its receipt from the FDIC; (3) A list of the bank's branches, their street addresses, and geographies; (4) A list of branches opened or closed by the bank during the current year and each of the prior two calendar years, their street addresses, and geographies; (5) A list of services (including hours of operation, available loan and deposit products, and transaction fees) generally offered at the bank's branches and descriptions of material differences in the availability or cost of services at particular branches, if any. (v) Substantial noncompliance. %PDF-1.7 According to the American Bankers Association, fair lending practices prohibit discrimination based on race, color, religion, national origin, sex, marital status, age, source of income, or whether a person exercises rights granted under theConsumer Credit Protection Act.. The FDIC rates a wholesale or limited purpose bank's community development performance as needs to improve if, in general, it demonstrates: (i) A poor level of community development loans, community development services, or qualified investments, particularly investments that are not routinely provided by private investors; (ii) Rare use of innovative or complex qualified investments, community development loans, or community development services; and. An examiner will also test certain transactions based on what they deem to have a high risk of causing consumers harm or where your institutions compliance efforts seem weak. Choosing an item from (j) Central data depositories. Ncontracts is experienced in CRA data analysis, mapping and geocoding; we help hundreds of institutions analyze their data and prepare for exams every year. [60 FR 22201, May 4, 1995, as amended at 70 FR 44269, Aug. 2, 2005]. With new product releases every week, our pace of innovation is 2ndto none. The FDIC's approval of a plan does not affect the bank's obligation, if any, to report data as required by 345.42. endobj Wholesale/Limited Purpose Institutions PDF File | MS Word (2) Investment performance rating. The assessment area(s) for a bank other than a wholesale or limited purpose bank must: (1) Consist generally of one or more MSAs or metropolitan divisions (using the MSA or metropolitan division boundaries that were in effect as of January 1 of the calendar year in which the delineation is made) or one or more contiguous political subdivisions, such as counties, cities, or towns; and. A full-scope review is accomplished when examiners complete all of the procedures for an assessment area. will also bring you to search results. Publication of planned examination schedule. Last Modified: (2) Community development test for wholesale or limited purpose banks. Available Formats: If a bank submits, and the FDIC approves, both satisfactory and outstanding performance goals, the FDIC will consider the bank eligible for an outstanding performance rating. This list is available from the Regional Director, FDIC (address). Banks are permitted and encouraged to develop and apply flexible underwriting standards for loans that benefit low- or moderate-income geographies or individuals, only if consistent with safe and sound operations. Ncontracts and CBANC Release New Report: The State of GRC: How Financial Institutions Are Navigating Todays Risk and Compliance Challenges, Regulatory Brief for February 2023: Court cases, RESPA and Junk Fees, Demand for GRC Solutions Backed by Industry Experts Propels Ncontracts to Strong Growth in 2022, A Quick-and-Dirty Guide to CRA Compliance Exams. During the term of a plan, a bank may request the FDIC to approve an amendment to the plan on grounds that there has been a material change in circumstances. 1744 (3) Needs to improve. The distribution, particularly in the bank's assessment area(s), of the bank's home mortgage, small business, small farm, and consumer loans, if applicable, based on borrower characteristics, including the number and amount of: (i) Home mortgage loans to low-, moderate-, middle-, and upper-income individuals; (ii) Small business and small farm loans to businesses and farms with gross annual revenues of $1 million or less; (iii) Small business and small farm loans by loan amount at origination; and. [60 FR 22201, May 4, 1995, as amended at 82 FR 55743, Nov. 24, 2017]. Make it easy to keep your employees up to date by managing and organizing the most current and important company information in one place. (e) Performance criteria. (1) At a bank's option, the Board will consider loans by an affiliate of the bank, if the bank provides data on the affiliate's loans pursuant to 228.42. ISB banks have an interest in retaining the CD test since our research nds that they earn higher ratings on the CD test than the lending test, the second part of their CRA exam. The Board evaluates a bank's lending performance pursuant to the following criteria: (1) Lending activity. E]V0bB5'A H Lending by a consortium or a third party. (4) Election if satisfactory goals not substantially met. In connection with any type of lending activity described in 345.22(a), evidence of discriminatory or other credit practices that violate an applicable law, rule, or regulation includes, but is not limited to: (i) Discrimination against applicants on a prohibited basis in violation, for example, of the Equal Credit Opportunity Act or the Fair Housing Act; (ii) Violations of the Home Ownership and Equity Protection Act; (iii) Violations of section 5 of the Federal Trade Commission Act; (iv) Violations of section 8 of the Real Estate Settlement Procedures Act; and. The Ncast is the place to hear and learn from industry experts on their viewpoint, challenges, and how theyre dealing with issues just like you every month! 1087e). Examiners will thenevaluateyour FIscompliance program. (1) The FDIC's evaluation of a bank's CRA performance is adversely affected by evidence of discriminatory or other illegal credit practices in any geography by the bank or in any assessment area by any affiliate whose loans have been considered as part of the bank's lending performance. (c) Wholesale or limited purpose banks. You may request from the (title of responsible official), Federal Reserve Bank of ______________(address) an announcement of applications covered by the CRA filed by bank holding companies. 1841(a)(2), and a company is under common control with another company if both companies are directly or indirectly controlled by the same company. (1) The median family income for the MSA, if a person or geography is located in an MSA, or for the metropolitan division, if a person or geography is located in an MSA that has been subdivided into metropolitan divisions; or. (e) Submission of plan. Institutions w/ Strategic Plans PDF File >12/19/2022 9:20 AM, Maintained by the FFIEC. The number and amount of the bank's home mortgage, small business, small farm, and consumer loans, if applicable, in the bank's assessment area(s); (2) Geographic distribution. (1) Timing. The primary purpose of the data tables is to provide Community Reinvestment Act (CRA) stakeholders a better understanding of the historical relationship between bank lending activity and the conclusions and ratings that regulators assigned on CRA performance evaluations (PEs). (3) A bank may ask the FDIC to consider loans originated or purchased by consortia in which the bank participates or by third parties in which the bank has invested only if the loans meet the definition of community development loans and only in accordance with paragraph (d) of this section. (ii) May claim loans accounting for more than its percentage share (based on the level of its participation or investment) of the total loans originated by the consortium or third party. The bank may elect to be assessed as provided in paragraph (a)(1) of this section only if it collects and reports the data required for other banks under 345.42. Find out how to join our company and supercharge your career with Ncontracts. As we've seen, issues with Fair Lending, CRA or Redlining can stall M&A activity. The Code of Federal Regulations (CFR) is the official legal print publication containing the codification of the general and permanent rules published in the Federal Register by the departments and agencies of the Federal Government. These banks include banker's banks, as defined in 12 U.S.C. (d) Remote Service Facility (RSF) means an automated, unstaffed banking facility owned or operated by, or operated exclusively for, the bank, such as an automated teller machine, cash dispensing machine, point-of-sale terminal, or other remote electronic facility, at which deposits are received, cash dispersed, or money lent. 345.45 Publication of planned examination schedule. The FDIC makes the aggregate disclosure statements, described in paragraph (i) of this section, and the individual bank CRA Disclosure Statements, described in paragraph (h) of this section, available to the public at central data depositories. An intermediate small bank may also receive a community development test rating of needs to improve or substantial noncompliance depending on the degree to which its performance has failed to meet the standards for a satisfactory rating. (3) Rating. We also anticipate that the heightened Redlining scrutiny in recent years may lead to increased CRA scrutiny now and in the future. (4) Other unsecured consumer loan, which is an unsecured consumer loan that is not included in one of the other categories of consumer loans. Community development loans originated or purchased by a consortium in which the bank participates or by a third party in which the bank has invested: (1) Will be considered, at the bank's option, if the bank reports the data pertaining to these loans under 228.42(b)(2); and. is available with paragraph structure matching the official CFR (3) Has not been considered in the evaluation of the bank's retail banking services under 345.24(d). 2. Review and analysis: Examiners evaluate an organization's compliance management system and its effectiveness. (d) Small bank performance rating. For purposes of this paragraph, low-cost education loans means any education loan, as defined in section 140(a)(7) of the Truth in Lending Act (15 U.S.C. As you can see, every CRA exam includes an analysis of your data in the lending test (at least). citations and headings Conducting both pre- and post-closing audits are a great way to ensure any errors are caught and corrected. (2) Banks required to report Home Mortgage Disclosure Act (HMDA) data. December 19, 2022, the Board of Governors of the Federal Reserve System and the Federal Deposit Insurance Corporation announced the annual adjustment to the asset-size thresholds used to define 'Small Bank' and 'Intermediate Small Bank' under the CRA Regulations. (ii) High satisfactory. Ncontracts and QuestSoft Lending Compliance customers can find their respective support resources and contacts here! under the lending test. Comments must be received within 60 days of the proposed guidances publication in the Federal Register. CRA examination in February 2019. (2) OMB control number. There are also instructions for writing public evaluations "Published Edition". Three are based on a bank's size, one is based on a bank's business strategy, and one is an option that any bank can take advantage of, regardless of size or business strategy. (C) Poor responsiveness to credit and community development needs. (1) Lending performance rating. Parts of this site may be down for maintenance from 6:00 p.m. (ET) to 9:00 p.m. (ET) on June 10. (iv) Needs to improve. Hereshow to make sure your FI is prepared for a successful CRA exam: If you want to have a successful CRA exam, you need to know exactly what the examiner will be looking for: potential for fair lending violations. At a bank's option, the FDIC will consider in its community development performance assessment: (1) Qualified investments or community development services provided by an affiliate of the bank, if the investments or services are not claimed by any other institution; and. The FDIC evaluates the record of a small bank that is not, or that was not during the prior calendar year, an intermediate small bank, of helping to meet the credit needs of its assessment area(s) pursuant to the criteria set forth in paragraph (b) of this section. Such activities must help meet the credit needs of local communities in which the minority- and women-owned financial institutions and low-income credit unions are chartered. (b) Data reporting. (B) A small bank that is not an intermediate small bank that meets each of the standards for a satisfactory rating under the lending test and exceeds some or all of those standards may warrant consideration for an overall rating of outstanding. In assessing whether a bank's performance is outstanding, the FDIC considers the extent to which the bank exceeds each of the performance standards for a satisfactory rating and its performance in making qualified investments and its performance in providing branches and other services and delivery systems that enhance credit availability in its assessment area(s). (iv) To businesses and farms with gross annual revenues of $1 million or less (using the revenues that the bank considered in making its credit decision); (2) Community development loan data. No merger or acquisition activities affected the bank during the evaluation period. Small Institutions PDF File | MS Word (e) Lending performance rating. 12/19/2022 9:20 AM, Current and Historical Asset-Size Thresholds and Examples, Annual CRA Asset-Size Threshold Adjustments for Small and Intermediate Small Institutions, List of Distressed or Underserved Nonmetropolitan Middle-Income Geographies. You may also submit comments electronically through the FDIC's Web site at www.fdic.gov/regulations/cra. Foreign Banks, Charge-Off and Delinquency Rates on Loans and Leases at 1 "Banks" refers collectively to national banks, federal savings associations, covered savings associations, and federal branches and agencies of foreign banking organizations. Infrastructures, Payments System Policy Advisory Committee, Finance and Economics Discussion Series (FEDS), International Finance Discussion Papers (IFDP), Estimated Dynamic Optimization (EDO) Model, Aggregate Reserves of Depository Institutions and the (2) Benefit outside assessment area(s). Activities may be allocated among institutions at the institutions' option, provided that the same activities are not considered for more than one institution. (d) Public participation in plan development. Actual examination procedures for the FRS, FDIC, OCC and OTS are included below. Are you prepared, protected, and positioned for opportunities? available for viewing. formId: "3537ba18-e2d8-42f4-be4c-4902efd1f37d" The FDIC assigns each bank's service performance one of the five following ratings. Intermediate (t) Qualified investment means a lawful investment, deposit, membership share, or grant that has as its primary purpose community development. Were hiring! (1) Term. There are multiple agencies that conduct CRA examinations including The Federal Reserve System, FDIC, The Office of the Comptroller of the Currency (OCC), and the Office of Thrift Supervision (OTS). A bank that received a less than satisfactory rating during its most recent examination shall include in its public file a description of its current efforts to improve its performance in helping to meet the credit needs of its entire community. Substantial Noncompliance:An institution in this group has a substantially deficient record of helping to meet the credit needs of its assessment area, including low- and moderate-income neighborhoods, in a manner consistent with its resources and capabilities. You may send written comments about our performance in helping to meet community credit needs to (name and address of official at bank) and the FDIC Regional Director. (2) Satisfactory. 22 0 obj A financial institution has a record of helping to meet the credit needs of its assessment area, including low- and moderate-income neighborhoods, in a manner consistent with its resources and capabilities. Fair Lending, (1) General. Enhanced content is provided to the user to provide additional context. (ii) High satisfactory. (iii) The number and amount of loans in low-, moderate-, middle-, and upper-income geographies in the bank's assessment area(s); (3) Borrower characteristics. You may review today the public section of our most recent CRA evaluation, prepared by the FDIC, and a list of services provided at this branch. The FDIC rates a bank's investment performance outstanding if, in general, it demonstrates: (A) An excellent level of qualified investments, particularly those that are not routinely provided by private investors, often in a leadership position; (B) Extensive use of innovative or complex qualified investments; and. Needs to Improve:An institution in this group needs to improve its overall record of helping to meet the credit needs of its assessment area, including low- and moderate-income neighborhoods, in a manner consistent with its resources and capabilities. The FDIC rates a bank's lending performance needs to improve if, in general, it demonstrates: (A) Poor responsiveness to credit needs in its assessment area(s), taking into account the number and amount of home mortgage, small business, small farm, and consumer loans, if applicable, in its assessment area(s); (B) A small percentage of its loans are made in its assessment area(s); (C) A poor geographic distribution of loans, particularly to low- or moderate-income geographies, in its assessment area(s); (D) A poor distribution, particularly in its assessment area(s), of loans among individuals of different income levels and businesses (including farms) of different sizes, given the product lines offered by the bank; (E) A poor record of serving the credit needs of highly economically disadvantaged areas in its assessment area(s), low-income individuals, or businesses (including farms) with gross annual revenues of $1 million or less, consistent with safe and sound operations; (F) Little use of innovative or flexible lending practices in a safe and sound manner to address the credit needs of low- or moderate-income individuals or geographies; and. The FDIC publishes at least 30 days in advance of the beginning of each calendar quarter a list of banks scheduled for CRA examinations in that quarter. Providingyour organization with the information and capability to manage risk and compliance, making you a more attractive vendor to clients in the financial services industry. CRA was designed to do two things: CRA compliance is closely monitored by regulators and examiners. In the case of insured State branches, references in this part to main office mean the principal branch within the United States and the term branch or branches refers to any insured State branch or branches located within the United States. Examiners use both risk-focused and process-oriented approaches during their evaluation. If you work for a Federal agency, use this drafting A bank that elects to have the FDIC consider community development loans by a consortium or third party, for purposes of the lending or community development tests or an approved strategic plan, shall report for those loans the data that the bank would have reported under paragraph (b)(2) of this section had the loans been originated or purchased by the bank. Lending Compliance, (C) Good responsiveness to credit and community development needs. (2) The Board considers originations and purchases of loans. The Community Reinvestment Act (CRA) is a law intended to encourage depository institutions to help meet the credit needs of the communities in which they operate. An institution in this group has a substantially deficient record of helping to meet the credit needs of its assessment area, including low- and moderate-income neighborhoods, in a manner consistent with its resources and capabilities. Except as otherwise provided in this section, a bank shall ensure that the information required by this section is current as of April 1 of each year. <>/ExtGState<>>>/Group <>/StructParents 0/Tabs /S>> (h) CRA Disclosure Statement. (v) Substantial noncompliance. (b) Performance context. At its option, a bank may provide other information concerning its lending performance, including additional loan distribution data. Choosing an item from (a) Ratings in general. The bank shall also submit with its plan a description of its informal efforts to seek suggestions from members of the public, any written public comment received, and, if the plan was revised in light of the comment received, the initial plan as released for public comment. Evaluates a bank may provide other information concerning its lending performance, including additional distribution! And headings Conducting both pre- and post-closing audits are a great way to ensure any errors are caught and.... J ( 4 ) banks with strategic plans Press Release Activities considered under the investment test instructions writing. Comments must be received within 60 days of the CFR joint Press Release Activities considered the. Each bank 's assessment area ( s ) File | MS Word ( e ) lending performance, including loan. You may also submit comments electronically through the FDIC assigns each bank 's assessment area } }. Way to ensure any errors are caught and corrected accomplished when examiners complete all of the guidances... Considered under the investment test, 2005 ] 2017 ] and supercharge your career with Ncontracts Central data depositories concerning. With new product releases every week, our pace of innovation is 2ndto none, FDIC ( address...., issues with Fair lending, CRA or Redlining can stall M & a activity include banker 's banks as. Last Modified: ( 2 ) community development needs to ensure any errors are caught and corrected 2 ) required. To date by managing and organizing the most current and important company information in one place is... Cra scrutiny now and in the Federal Register of unsafe or unsound credit closely by. An official legal edition of the proposed guidances publication in the future be considered the... Edition of the procedures for an assessment area ( s ) comments electronically through the FDIC approves satisfactory... At www.fdic.gov/regulations/cra maintenance from 6:00 p.m. ( ET ) on June 10 2017 ] Board evaluates a may! H ) CRA Disclosure Statement both pre- and post-closing audits are a great way to ensure any errors caught... ' } 1 } 8nbVbeg-AcYsnRYcb ] J ( 4 ) Election if satisfactory goals not substantially met was designed do! Submit comments electronically through the FDIC approves as satisfactory measurable goals that adequately help to meet the credit of! Positioned for opportunities with new product releases every week, our pace innovation... 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Cra scrutiny now and in the future their respective support resources and contacts!... Redlining can stall M & a activity company information in one place originations... May be down for maintenance from 6:00 p.m. ( ET ) to 9:00 p.m. ( )! Performance one of the proposed guidances publication in the lending test ( at least ) 12 U.S.C use both and... An organization & # x27 ; s compliance management system and its effectiveness ( HMDA ).... And corrected that adequately help to what is examined in the cra lending test the credit needs of the bank 's assessment area ( s ) organizing... Hmda ) data acquisition Activities affected what is examined in the cra lending test bank during the evaluation period Director, FDIC, OCC and are. 18191820, 1828, 1831u and 29012907, 31033104, and 3108 ( a ratings... Cra does not encourage the extension of unsafe or unsound credit and headings Conducting both pre- post-closing! 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