INCREASE IN EXEMPTION THRESHOLD FOR DEPOSITORY INSTITUTIONS UNDER HMDA REPORTING REQUIREMENT.The Federal Reserve Board on December December: see month. 20, 2000, announced that the exemption threshold for depository institutions Depository institution A financial institution that obtains its funds mainly through deposits from the public. This includes commercial banks, savings and loan associations, savings banks and credit unions. that are required to report data under the Home Mortgage Disclosure Act (HMDA HMDA Hexamethylene Diamine (chemistry) HMDA Hitchhiker Motorized Door Assembly HMDA High Mobility DGM Assemblage HMDA Home Mortgage Disclosure Act of 1974 ) is increased to $31 million. Under the revision to the Board's staff commentary to Regulation C (HMDA), depository institutions with assets totaling $31 million or less as of December 31, 2000, are not required to collect HMDA data in 2001. An institution's exemption from collecting data in 2001 does not affect its responsibility to report data it was required to collect in 2000. The Board is required to adjust annually the asset-size exemption threshold for depository institutions based on the annual percentage change in the Consumer Price Index for Urban Wage Earners and Clerical Workers. The adjustment reflects changes for the twelve-month period ending in November November: see month. 2000. |
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