Staff members from the Federal Deposit Insurance Corporation, the Board of Governors of the Federal Reserve System, and the Office of the Comptroller of the Currency (OCC) (collectively, the agencies) are hosting a discussion of the revisions to the “Interagency Questions and Answers Regarding Community Reinvestment” (Q&As) that were issued on November 15, 2013, and the revised interagency “Large Institution Community Reinvestment Act Examination Procedures” (CRA examination procedures) that were issued on April 18, 2014. The revisions to the Q&As and the revised CRA examination procedures primarily address community development issues.
This webinar will cover new Q&As that
- – clarify how the agencies consider community development activities benefiting a broader statewide or regional area that includes an institution’s assessment area.
- – provide guidance related to CRA consideration of, and documentation associated with, investments in nationwide funds.
- – clarify the consideration of certain community development services, such as service on a community development organization’s board of directors.
- – address the treatment of loans or investments to organizations that, in turn, invest those funds and use only a portion of the income from their investments to support a community development purpose.
- – clarify that community development lending performance is always considered in a large financial institution’s lending test rating.
The deadline for registration to join the live session is July 17, 2014.
Please follow this link to OCC’s website for more details.