Pursuant to § 228.21, the Local community Development Funding Test for Confined Reason Financial institutions evaluates a constrained function lender's document of assisting to meet up with the credit needs of its entire Group via Neighborhood enhancement loans and Group development investments (
The Board may approve a plan after taking into consideration the criteria in paragraph (h)(3) of the segment and if it determines which the bank has provided suitable justification for that strategy and every aspect of the prepare as demanded in paragraph (d) of this part.
An amendment into a prepare will have to adjust to all suitable prerequisites of the part, Until the Board waives a prerequisite as not applicable.
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means a closed-finish house property finance loan loan or an open up-end residence home finance loan loan as these conditions are described Within this area.
The Board could modify the rating of the intermediate lender evaluated as furnished in paragraph (a)(2) of the segment from “Satisfactory” to “Outstanding” within the institution amount the place the bank requests and receives supplemental thought for things to do that might qualify pursuant to the Retail Products and services and Merchandise Test in § 228.23.
A bank may possibly prepare an individual plan or individual designs for its facility-based mostly evaluation locations, retail lending evaluation spots, outdoors retail lending place, or other geographic locations that might be evaluated in the absence of an permitted plan.
The loans, investments, companies, and goods of a lender's functions subsidiary has to be A part of the lender's strategy, Except if the operations subsidiary is independently subject to CRA requirements.
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Purchases of home loan-backed securities where a the vast majority with the underlying loans are usually not loans the bank originated or ordered and:
(one) Any facts about a lender's institutional ability or constraints, including the dimension and economic problem from the bank, protection and soundness constraints, or almost every other financial institution-certain elements that considerably impact the lender's capacity to supply retail lending, retail banking solutions and retail banking products, Group growth loans, community enhancement investments, or Local community improvement services;
(ii) The Board considers an intermediate financial institution's Group enhancement loans, Group enhancement investments, and community advancement products and services with out regard to whether the action is manufactured in a number of with the lender's facility-based evaluation areas. The extent from the Board's consideration of Neighborhood growth loans, Local community progress investments, and Local community enhancement services beyond the lender's facility-dependent evaluation parts will rely upon the adequacy of your lender's responsiveness to Group progress requires and alternatives in the financial institution's facility-centered assessment places and relevant performance context details.
The Board evaluations the impression and responsiveness of the bank's Neighborhood growth loans and Group development investments that advantage or serve a multistate MSA, as offered in § 228.15.
indicates any company that more info controls, is managed by, or is beneath typical control with A further corporation. The phrase “Manage” has the this means supplied to that phrase in twelve U.