228 loan - An Overview
Pursuant to § 228.21, the Neighborhood Development Financing Test for Minimal Purpose Financial institutions evaluates a confined goal financial institution's report of assisting to satisfy the credit requires of its full Neighborhood by means of Local community advancement loans and Group advancement investments (The Board evaluates a military services lender pursuant into the relevant general performance assessments explained in paragraph (a) of the segment.
This section will not implement to banks that do not execute business or retail banking services by granting credit to the public inside the standard training course of small business, in addition to as incident for their specialised functions and finished on an accommodation foundation.
When assigning ratings, the Board considers a lender's previous effectiveness. If a financial institution's prior rating was “Requirements to enhance,” the Board could establish that a “Substantial Noncompliance” score is appropriate wherever the lender failed to further improve its efficiency Considering that the past analysis interval, without satisfactory foundation for such failure.
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The Board evaluates a lender's performance less than an accredited approach determined by the general performance exams that will implement during the absence of the permitted system and any optional analysis elements or suitable modifications and additions into the applicable general performance assessments set forth while in the lender's approved approach.
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A financial institution that includes modified or supplemental functionality evaluation components with accompanying once-a-year measurable targets in its program need to specify in its plan yearly measurable ambitions that constitute “Satisfactory” effectiveness and will specify yearly measurable aims that constitute “Superb” effectiveness.
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For automobile loans, the Board compares a lender's geographic and borrower distributions towards the applicable community benchmarks, as provided in paragraph (f) of the area and segment VI of appendix A to this portion.
For each significant product line, a Geographic Neighborhood Benchmark, calculated pursuant to paragraph III.c of appendix A to this component for facility-centered assessment spots and retail lending assessment locations, and paragraph III.e of appendix A to this section for outside retail lending areas.
(six) A financial institution's closed-finish home mortgage lending, compact business lending, compact farm lending, or vehicle lending in click here distressed or underserved nonmetropolitan middle-money census tracts wherever a financial institution's nonmetropolitan facility-based evaluation location or nonmetropolitan retail lending assessment place contains very few or no very low- and moderate-profits census tracts; and
In contemplating CRA overall performance within an application explained in paragraph (a) of this section, the Board can take into consideration any sights expressed by intrigued parties which have been submitted in accordance Along with the Board's Principles of Process established forth in 12 CFR aspect 262.
implies any business that controls, is managed by, or is below typical control with another enterprise. The expression “Regulate” has the indicating supplied to that phrase in twelve U.