Agencies release annual CRA adjustments.
Financial institutions are evaluated under different CRA examination procedures based upon their asset-size classification. Those meeting the small and intermediate small asset-size threshold are not subjected to the reporting requirements applicable to large banks. The annual adjustments are required by the CRA rules.
Under the new adjustments:
* "Small bank" or "small savings association" means an institution that, as of December 31 of either of the previous two calendar years, had assets of less than $1.16 billion.
* "Intermediate small bank" or "intermediate small savings association" means a small institution with assets of more than $290 million at the end of both of the previous two calendar years and less than $1.16 billion at the end of either of the previous two calendar years.
Annual adjustments to these asset-size thresholds are based on the change in the average of the consumer price index (CPI) for urban wage earners and clerical workers, not seasonally adjusted, for each 12-month period ending in November.
The adjustments are effective January 1, 2012. The agencies--the Federal Reserve, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency--will publish the adjustments in the Federal Register. In addition, the agencies will post a list of the current and historical asset-size thresholds on the website of the Federal Financial Institutions Examination Council.
December 23, 2011
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|Date:||Oct 1, 2011|
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