228 loan - An Overview
228 loan - An Overview
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) Group development loan or Local community improvement expenditure depth, like the specific kind of funding and kind of entity supported (
The Board may possibly change the ranking of the intermediate lender evaluated as provided in paragraph (a)(two) of this segment from “Satisfactory” to “Remarkable” at the institution level the place the bank requests and receives additional consideration for routines that might qualify pursuant to your Retail Expert services and Products and solutions Exam in § 228.23.
Apart from as normally delivered Within this part, a lender will have to make sure that its community file incorporates the data required by this segment for each with the former three calendar several years, with the most recent calendar yr A part of its file yearly by April 1 of the current calendar yr.
(one) A client loan is located inside the census tract where by the borrower resides at enough time the borrower submits the loan software;
(ix) An indicator for whether or not the loan was to a business or farm with gross annual revenues higher than $1 million; and
) The allocation of loans, investments, expert services, and merchandise into a lender, or amid affiliated banking institutions, have to reflect an affordable foundation to the allocation and may not be for the only or primary function of inappropriately enhancing any financial institution's CRA analysis.
Just before submitting a draft want to the Board for approval pursuant to paragraph (h) of this section, a financial institution must:
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The Board assigns conclusions to a sizable financial institution's or minimal function lender's functionality over the applicable tests described in paragraph (a) of this portion pursuant to § 228.28 and appendix C to this component. The Board assigns conclusions to a little bank's or intermediate lender's overall performance within the relevant tests described in paragraph (a) of this area pursuant to § 228.
The Board may perhaps adjust a limited objective bank's establishment ranking from “Satisfactory” to “Superb” where a lender requests and gets more thing to consider for products and services that would qualify underneath the Local community Growth Products and services Exam in § 228.twenty five.
(B) Inside 5 calendar times on the ask for, all the data the lender is required to maintain beneath this portion in the general public file associated with the power-based assessment location in which the department is situated.
The Board considers the weighted common get more info of your functionality scores corresponding to the bank's Local community Development Companies Exam conclusions for its facility-primarily based evaluation areas inside a Point out, multistate MSA, or maybe the institution pursuant to area IV of appendix B to this aspect.
On request, a bank must deliver copies, both on paper or in digital variety acceptable to the individual generating the request, of the knowledge in its public file. The financial institution might demand an inexpensive price not to exceed the expense of copying and mailing (if not furnished in digital variety).
(three) The financial institution may well not declare Local community advancement loans or community progress investments accounting for in excess of its share share (based on the level of its participation or expenditure) of the full loans or investments created by the consortium or third party.