Details, Fiction and 228 loan
implies any corporation that controls, is controlled by, or is underneath typical Command with A different corporation. The expression “Manage” has the that means supplied to that phrase in 12 U.When applying efficiency exams and strategic plans pursuant to paragraph (a) of the area, and when figuring out no matter if to approve a strategic system pursuant to § 228.
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A financial institution subject to information reporting requirements pursuant to § 228.42 ought to involve in its community file a prepared see the CRA Disclosure Assertion pertaining for the financial institution, its functions subsidiaries, and its other affiliates, if relevant, can be acquired within the FFIEC's Internet site at:
The Board considers the department availability and products and services presented at branches of financial institutions that run a number of branches pursuant to paragraph (b)(2) of the part.
A bank need to make available to the public for inspection, on request and for gratis, the data required in this section as follows:
A bank need to delineate a number of facility-centered assessment spots inside of which the Board evaluates the lender's record of 228 loan assisting to meet up with the credit history wants of its entire Group pursuant towards the efficiency assessments and strategic prepare described in § 228.21.
The limited purpose lender's community advancement funding overall performance in all of its facility-based evaluation parts; and
Inside a facility-primarily based assessment area or outdoors retail lending place, a product line is An important products line If your financial institution's loans in that product line comprise fifteen p.c or even more with the bank's loans across every one of the financial institution's item traces in the power-based mostly evaluation spot or outside retail lending spot, as determined pursuant to paragraph II.b.1 of appendix A to this portion.
(A) A bank may specify once-a-year measurable aims for Local community enhancement loans, Local community progress investments, or each. The lender should foundation any yearly measurable aims as a share or ratio on the bank's Neighborhood enhancement loans and Neighborhood growth investments for all or specific sorts of Local community progress described in § 228.
The Board considers the weighted ordinary on the overall performance scores similar to the financial institution's Neighborhood Improvement Expert services Check conclusions for its facility-dependent evaluation places in just a State, multistate MSA, or even the establishment pursuant to portion IV of appendix B to this aspect.
Pursuant to § 228.28 and appendix C to this element, the Board assigns conclusions to get a lender's Community Improvement Solutions Test performance in each facility-centered evaluation region, Each and every Point out or multistate MSA, as applicable, and for the institution.
(i) Everything of an individual MSA (utilizing the MSA boundaries that were in effect as of January 1 of the calendar 12 months in which the delineation applies), excluding any counties Within the large financial institution's facility-centered assessment spots; or