228 loan - An Overview
228 loan - An Overview
Blog Article
The Board critiques the impact and responsiveness from the lender's Neighborhood improvement loans and Local community enhancement investments that gain or serve a Point out, as presented in § 228.15.
A bank ought to make accessible to the public for inspection, upon ask for and without charge, the knowledge needed With this section as follows:
The Board evaluates a limited intent lender's Neighborhood advancement financing effectiveness in Every single Point out or multistate MSA, as relevant pursuant to §§ 228.
(one) A purchaser loan is found in the census tract where by the borrower resides at time that the borrower submits the loan software;
(ix) An indicator for whether or not the loan was to a company or farm with gross yearly revenues bigger than $1 million; and
(iii) A list showing each census tract where the bank documented a little organization loan or a little farm loan;
(3) Added benefits or serves a number of geographic places with small levels of Group advancement financing;
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Topic on the geographic needs in paragraph (b) of this segment, a significant financial institution will have to delineate, for a specific calendar yr, a retail lending evaluation location in any MSA or inside the nonmetropolitan space of any Condition by which it originated:
For a sizable lender that experienced assets greater than $ten billion as of December 31 in both equally in the prior two calendar a long time, the Lender Nationwide Local community Improvement Investment Metric measures the dollar quantity from the financial institution's Local community website development investments that reward or provide all or Element of the nationwide region, excluding property finance loan-backed securities, in comparison to the deposits in the financial institution situated in the nationwide place, calculated pursuant to paragraph II.m of appendix B to this aspect.
(B) A financial institution apart from a significant lender may possibly contain a community development solutions ingredient and accompanying yearly measurable goals in its system.
The Multistate MSA Neighborhood Improvement Funding Benchmark measures the greenback volume of Local community enhancement loans and Local community improvement investments that advantage or provide a multistate MSA for all significant depository institutions when compared with deposits located in the multistate MSA for all substantial depository establishments, calculated pursuant to paragraph II.h of appendix B to this aspect.
The Board considers the availability of remote company services in the subsequent geographic locations:
signifies a staffed banking facility, whether shared or unshared, that the Board approved or authorized as a department and that's open up to, and accepts deposits from, the general public.