5 Simple Statements About 228 loan Explained
5 Simple Statements About 228 loan Explained
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The Board reviews the influence and responsiveness of the financial institution's Neighborhood enhancement loans and community advancement investments that gain or serve a Condition, as delivered in § 228.fifteen.
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The Board prices the efficiency of an intermediate financial institution evaluated less than this part as provided in appendix D to this component.
(one) For banks that keep a website, all information expected to the financial institution's community file under this area have to be managed about the bank's Web-site.
(i) The public's involvement in formulating the draft prepare, including precise info concerning the customers of the general public and businesses the bank contacted And the way the lender collected information and facts relevant into the draft program;
The Board may modify a small financial institution rating from “Satisfactory” to “Superb” in the institution degree in which the bank requests and receives extra thing to consider for the following pursuits, without the need of regard to if the exercise is in one or more on the lender's facility-based mostly assessment places, as applicable:
(i) An intermediate financial institution's Neighborhood development functionality is evaluated pursuant to the subsequent conditions:
(B) For each of the financial institution's facility-based assessment click here areas inside a nonmetropolitan place, the Nonmetropolitan Nationwide Group Development Funding Benchmark steps the greenback quantity of Group growth loans and Local community progress investments that profit or serve nonmetropolitan spots in the nationwide area for all big depository establishments in comparison with deposits located in nonmetropolitan places while in the nationwide area for all substantial depository establishments.
The Board evaluates a financial institution's effectiveness below an accepted plan based upon the functionality checks that would use from the absence of an approved system and any optional evaluation elements or suitable modifications and additions on the relevant performance assessments established forth from the bank's approved system.
An Modification to your strategy have to adjust to all relevant requirements of the area, Unless of course the Board waives a prerequisite as not relevant.
(B) A bank besides a large bank may include things like a community progress services element and accompanying once-a-year measurable plans in its system.
The Board evaluates a limited objective bank's Local community improvement financing functionality in a very facility-dependent evaluation place and assigns a conclusion in the facility-based evaluation space based upon the Board's:
A bank ought to sustain a general public file, in possibly paper or electronic structure, that includes the following facts:
A lender need to maintain a community file, in both paper or electronic format, that includes the subsequent info: