The OCC will also consider any other loan data the bank may choose to provide, including data on loans outstanding, commitments and letters of credit. (2) Adjustment. The proposed rules would evaluate wholesale and limited purpose banks under a CD test that considers activities in a bank's broader statewide or regional area as activities that benefit the bank's assessment area.
A savings association may collect and maintain in machine readable form (as prescribed by the appropriate Federal banking agency) data for consumer loans originated or purchased by the savings association for consideration under the lending test.
The OCC assigns each wholesale or limited purpose bank's community development performance one of the four following ratings. 40. 73.
The statement should contain facts and data sufficient to describe the nature of the bank's current and prospective business, the credit products offered, and the market area served. (c) Assigned ratings. 1501 et seq. (b) Notice prior to closure of a covered interstate branch. (b) Performance context. (e) Benefit to assessment area(s)(1) Benefit inside assessment area(s). (v) Substantial noncompliance.
If any of the information initially provided by the bank changes significantly during the processing of the request, the bank's point of contact should communicate those changes promptly. Not extend substantially beyond an MSA or State boundary unless the bank's assessment area is in a multistate MSA.
documents in the last year, 802
An intermediate small bank's community development performance also is evaluated pursuant to the following criteria: (1) The number and amount of community development loans; (2) The number and amount of qualified investments; (3) The extent to which the bank provides community development services; and. The OCC does not evaluate the bank's delineation of its assessment area(s) as a separate performance criterion, but the OCC reviews the delineation for compliance with the requirements of this section. The adequacy of the bank's response will depend on its capacity for such community development activities, its assessment area's need for such community development activities, and the availability of such opportunities for community development in the bank's assessment area(s).
[37], Distressed areas and underserved areasThe June 2020 Rule expanded the definition of what were termed distressed or underserved nonmetropolitan middle-income geographies under the 1995 Rules to include census tracts that met those definitions in MSAs and added to the definition of underserved area census tracts that did not have a branch within specified distances. (f) Savings associations serving military personnel. This bulletin rescinds and replaces an attachment to OCC Bulletin 1996-11, "Community Reinvestment Act: Guidelines for Requesting Designation as a Wholesale or Limited-Purpose Institution."1.
When a designation is revoked or an exemption no longer applies, the OCC considers the operational and strategic challenges associated with the change in performance standards applied to the bank (e.g., from a wholesale bank to a large bank) as part of the bank's overall performance context in the next CRA performance evaluation. (3) Needs to improve.
The OCC requests comment on (1) any administrative burdens that the proposed rules would place on depository institutions, including small depository institutions, and their customers and (2) the benefits of the proposed rules that the OCC should consider in determining the effective date and administrative compliance requirements for any final rules. A reinstatement of the 1995 Rules would allow for an orderly transition to future, modernized CRA rules.
Open for Comment, Committee for Purchase From People Who Are Blind or Severely Disabled, Economic Sanctions & Foreign Assets Control, Endangered and Threatened Wildlife and Plants, National Committee on Foreign Medical Education and Accreditation, Disadvantaged Business and Airport Concession Enterprises, Safety Standard for Debris Penetration Hazards, Bolstering Efforts To Bring Hostages and Wrongfully Detained United States Nationals Home, Establishing an Emergency Board To Investigate Disputes Between Certain Railroads Represented by the National Carriers' Conference Committee of the National Railway Labor Conference and Their Employees Represented by Certain Labor Organizations, Office of the Comptroller of the Currency, Meeting with the Community Bankers Association 09.09.21, III. OCC Bulletin 2021-5, Community Reinvestment Act: Bank Type Determinations, Distressed and Underserved Areas, and Banking Industry Compensation Provisions of the June 2020 CRA (January 29, 2021).
(2) Investment performance rating.
These associations include banker's banks, as defined in 12 U.S.C. Add 12 CFR part 195 to read as follows: Authority: To request a designation as a wholesale or limited purpose bank or confirmation of an exemption as a special purpose bank, a bank must submit its request by email to the OCC at CRAWLP-SPRequests@occ.treas.gov, Subject line: CRA Designation.
Under the 1995 Rules, the OCC would have required banks that transitioned from ISBs to large banks to begin collecting loan data as provided in proposed 12 CFR 25.42 one year after the bank type changed. Federal Register. (4) Savings associations with strategic plans.
Following publication of any final rules pertaining to this proposal, banks would have a minimum of 30 days, as required by the Administrative Procedures Act,[69] (r) MSA means a metropolitan statistical area as defined by the Director of the Office of Management and Budget. (2) Multiple assessment areas. A small savings association or a savings association that was a small savings association during the prior calendar year shall include in its public file: (i) The savings association's loan-to-deposit ratio for each quarter of the prior calendar year and, at its option, additional data on its loan-to-deposit ratio; and. The following state regulations pages link to this page.
3103(a)(8)) and State savings associations. (e) Performance criteriacommunity development services.
If the OCC approves the designation, it remains in effect until the bank requests revocation of the designation or until one year after the OCC notifies the bank that the OCC has revoked the designation on its own initiative. documents in the last year, 75 In order to receive a designation as a wholesale or limited purpose savings association, a savings association shall file a request, in writing, with the appropriate Federal banking agency, at least three months prior to the proposed effective date of the designation. [10]
(iii) Needs to improve or substantial noncompliance overall ratings. You may ask to look at any comments received by the [OCC Deputy Comptroller or FDIC appropriate regional director]. Office of the Comptroller of the Currency, Treasury. The OCC requests specific comment on whether: The OCC's proposed plan to maintain strategic plans approved under the June 2020 Rule with target market assessment areas is a reasonable way of addressing this transition consideration. (s) Nonmetropolitan area means any area that is not located in an MSA. (f) Small banks electing evaluation under the lending, investment, and service tests. (1) The appropriate Federal banking agency's evaluation of a savings association's CRA performance is adversely affected by evidence of discriminatory or other illegal credit practices in any geography by the savings association or in any assessment area by any affiliate whose loans have been considered as part of the savings association's lending performance. 2901 et seq.
The docket may be viewed after the close of the comment period in the same manner as during the comment period. (b) Additional information available to the public(1) Savings associations other than small savings associations. This part and the CRA do not require a savings association to make loans or investments or to provide services that are inconsistent with safe and sound operations. <> Nevertheless, a different emphasis, including a focus on one or more performance categories, may be appropriate if responsive to the characteristics and credit needs of its assessment area(s), considering public comment and the bank's capacity and constraints, product offerings, and business strategy.
The appropriate Federal banking agency will also consider any other loan data the savings association may choose to provide, including data on loans outstanding, commitments and letters of credit. (2) The statewide nonmetropolitan median family income, if a person or geography is located outside an MSA. (q) Metropolitan division means a metropolitan division as defined by the Director of the Office of Management and Budget.
documents in the last year, 18 E.g., 70 FR 44256 (Aug. 2, 2005).
Effective October 1, 2020, through December 31, 2021, the median hourly compensation value is $39.03. For example, if the bank engages in mortgage lending, explain whether such loans are offered to the general public or offered only to a limited group such as corporate customers or employees of the bank. These can be useful (f) Service performance rating. The Office of the Comptroller of the Currency (OCC)[1] The OCC evaluates the investment performance of a bank pursuant to the following criteria: (1) The dollar amount of qualified investments;Start Printed Page 52041. The rating assigned by the appropriate Federal banking agency reflects the savings association's record of helping to meet the credit needs of its entire community, including low- and moderate-income neighborhoods, consistent with the safe and sound operation of the savings association. [70] For purposes of this part, the following definitions apply: (a) Affiliate means any company that controls, is controlled by, or is under common control with another company. The geographic distribution of the savings association's home mortgage, small business, small farm, and consumer loans, if applicable, based on the loan location, including: (i) The proportion of the savings association's lending in the savings association's assessment area(s); (ii) The dispersion of lending in the savings association's assessment area(s); and. A bank need not include information submitted to the OCC on a confidential basis in conjunction with the plan. This prototype edition of the
Upon request, a bank shall provide copies, either on paper or in another form acceptable to the person making the request, of the information in its public file. You may also have access to the following additional information, which we will make available to you at this branch within five calendar days after you make a request to us: (1) A map showing the assessment area containing this branch, which is the area in which the Comptroller evaluates our CRA performance in this community; (2) information about our branches in this assessment area; (3) a list of services we provide at those locations; (4) data on our lending performance in this assessment area; and (5) copies of all written comments received by us that specifically relate to our CRA performance in this assessment area, and any responses we have made to those comments. The Comptroller of the Currency proposes to replace the current Community Reinvestment Act rule with rules based on the 1995 Community Reinvestment Act (CRA) rules, as revised, issued by the Office of the Comptroller of the Currency (OCC), Board of Governors of the Federal Reserve System (Board), and Federal Deposit Insurance Corporation (FDIC).
The savings association's community development lending, including the number and amount of community development loans, and their complexity and innovativeness; and. 07/21/2022, 49 Banks would comply with the additional public file content and availability requirements no later than three months after the effective date of any final rules. (G) It has made an adequate level of community development loans. (e) Performance criteria. (a) Performance criteria(1) Small savings associations that are not intermediate small savings associations.
The Board ANPR also discussed ways to update the State, multistate metropolitan statistical area (MSA), and institution ratings by basing these ratings on local assessment area performance.
For purposes of this section, the term insured depository institution has the meaning given to that term in 12 U.S.C. (v) Substantial noncompliance. Data collection, reporting, and disclosure. OCC Title of Information Collection: Community Reinvestment Act. The OCC rates a bank's service performance high satisfactory if, in general, the bank demonstrates: (A) Its service delivery systems are accessible to geographies and individuals of different income levels in its assessment area(s); (B) To the extent changes have been made, its record of opening and closing branches has not adversely affected the accessibility of its delivery systems, particularly in low- and moderate-income geographies and to low- and moderate-income individuals; (C) Its services (including, where appropriate, business hours) do not vary in a way that inconveniences its assessment area(s), particularly low- and moderate-income geographies and low- and moderate-income individuals; and. (f) Banks serving military personnel. (c) Wholesale or limited purpose banks.
Each document posted on the site includes a link to the About the Federal Register After the OCC determines a request is complete, it will review the request and determine whether the bank meets the criteria for a wholesale, limited purpose, or special purpose bank.
Community development services must benefit a bank's assessment area(s) or a broader statewide or regional area that includes the bank's assessment area(s).
The appropriate Federal banking agency publishes at least 30 days in advance of the beginning of each calendar quarter a list of savings associations scheduled for CRA examinations in that quarter.