5 Simple Statements About 228 loan Explained
5 Simple Statements About 228 loan Explained
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For each significant product or service line, the Board develops a individual supporting conclusion for each group of census tracts and each category of borrowers explained in paragraphs V.a and VI.a of appendix A to this section.
(ii) Consistent with paragraph (g) of the section, a bank's prepare may consist of optional analysis parts or qualified modifications and additions on the effectiveness exams that would implement in the absence of an approved approach.
The Board testimonials the impact and responsiveness of the bank's Local community improvement loans and Local community improvement investments that gain or provide a facility-based mostly evaluation space, as presented in § 228.fifteen.
(1) Details indicating that a bank bought closed-close house home loan loans, smaller small business loans, tiny farm loans, or car loans for the only real or Main purpose of inappropriately improving its retail lending general performance, like, although not limited to, details indicating subsequent resale of these kinds of loans or any indication that these types of loans are regarded in various depository institutions' CRA evaluations, through which case the Board won't look at these kinds of loans in the lender's effectiveness evaluation;
means a company, other than a farm, that experienced gross once-a-year revenues for its preceding fiscal calendar year of $5 million or less.
The Board may well modify the ranking of an intermediate financial institution evaluated as offered in paragraph (a)(two) of the part from “Satisfactory” to “Exceptional” at the establishment amount in which the lender requests and gets extra consideration for activities that may qualify pursuant towards the Retail Companies and Solutions Examination in § 228.23.
The Retail Lending Check evaluates a financial institution's report of assisting to fulfill the credit requirements of its get more info total Local community in the lender's origination and buy of auto loans if the lender is a bulk car lender.
(one) A nonmetropolitan Center-income census tract is designated as distressed if it is in a very county that fulfills a number of of the subsequent criteria:
(one) Establishes the framework and criteria by which the Board assesses a bank's report of responding towards the credit rating requires of its complete Local community, such as lower- and average-income neighborhoods, per the safe and sound operation in the financial institution; and
(A) A bank may well request an alternate weighting system for combining efficiency underneath the applicable general performance assessments and optional analysis elements. In specifying alternate examination weights for every relevant examination, a lender should emphasize retail lending, Local community development financing, or both of those.
A lender could specify alternate weights for averaging check effectiveness throughout assessment places or other geographic spots. These option weights need to be based on the bank's capability and Local community requires and options in precise geographic spots.
Aside from a small lender that opts to get evaluated pursuant on the Retail Lending Exam in § 228.22, the Board assigns conclusions for that effectiveness of a small lender evaluated beneath this section as delivered in appendix E to this portion.
b of appendix A to this component for facility-based mostly evaluation areas and retail lending assessment places, and paragraph IV.d of appendix A to this aspect for outdoor retail lending areas; and
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