228 loan - An Overview
228 loan - An Overview
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For each census tract through which the financial institution originated or acquired a small business enterprise loan or modest farm loan, the financial institution have to report the combination variety and greenback quantity of modest business loans and compact farm loans:
The Board considers Group improvement loans and community advancement investments allotted pursuant to paragraph I.b of appendix B to this element.
Apart from as or else provided With this part, a lender need to make certain that its general public file includes the knowledge expected by this section for each with the past a few calendar many years, with The latest calendar 12 months A part of its file per year by April one of the present calendar 12 months.
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A financial institution subject to facts reporting needs pursuant to § 228.forty two should include things like in its general public file a composed detect which the CRA Disclosure Assertion pertaining for the lender, its functions subsidiaries, and its other affiliates, if relevant, might be acquired within the FFIEC's Web page at:
) A Neighborhood development loan originated or procured, or perhaps a community development financial investment produced, together with a legally binding dedication to extend credit or simply a lawfully binding dedication to invest, in the calendar calendar year, as explained in paragraph I.a.one.i of appendix B to this section;
For every of a bank's facility-centered evaluation regions, the Evaluation Place Local community Growth Financing Benchmark steps the dollar quantity of community enhancement loans and Local community development investments that reward or serve the power-primarily based evaluation area for all large depository establishments compared to deposits situated in the ability-primarily based evaluation region for all big depository establishments, calculated pursuant to paragraph II.b of appendix B to this aspect.
(3) A small enterprise loan or modest farm loan is located in the census tract where by the primary company facility or farm is situated or wherever the borrower will or else apply the loan proceeds, as indicated because of the borrower.
The Board assessments the effects and responsiveness with the lender's Group enhancement loans and Local community advancement investments that benefit or provide a multistate MSA, as delivered in § 228.15.
A lender could post extra info into the Board over a private basis, although the targets mentioned within the prepare must be adequately distinct to enable the public plus the Board to guage the merits with the plan.
The Board evaluates an intermediate lender's report of assisting to fulfill the credit requirements of its total Group pursuant towards the here Retail Lending Examination in § 228.
(x) An indicator for whether or not the loan was to a business or farm for which gross yearly revenues are certainly not recognised by the lender.
Notwithstanding the necessities of the portion, a military lender whose clients will not be Positioned within just a defined geographic location could delineate the entire America and its territories as its sole facility-based mostly assessment area.
The Board evaluates a minimal objective financial institution's Local community advancement funding performance while in the nationwide area, pursuant to § 228.19, and assigns a conclusion for your institution based upon the Board's thing to consider of the next two factors: