About 228 loan
signifies any enterprise that controls, is controlled by, or is below frequent Regulate with An additional corporation. The term “Management” has the this means provided to that expression in twelve U.When making use of effectiveness tests and strategic plans pursuant to paragraph (a) of the section, and when identifying no matter whether to approve a strategic plan pursuant to § 228.
During the time period of a plan, a lender have to submit towards the Board for approval an amendment to its prepare if a cloth improve in conditions:
If the Board gets a community comment prior to the near day of a financial institution's CRA evaluation, the general public remark might be thought of in connection with that CRA evaluation.
A lender subject to facts reporting demands pursuant to § 228.42 must involve in its general public file a written observe that the CRA Disclosure Assertion pertaining towards the financial institution, its functions subsidiaries, and its other affiliates, if relevant, might be attained on the FFIEC's Web site at:
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) Rewards or serves one or more geographic parts with minimal amounts of Group advancement funding;
The Board assessments the influence and responsiveness with the bank's Group advancement loans and Neighborhood enhancement investments that benefit or serve the nationwide spot, as presented in § 228.15.
It is suggested that you diligently critique the terms on the loan just before shifting forward. In case you conform to the phrases, you may be directed to the webpage which will inquire in your e-signature.
(ii) Once the bank has made its Preliminary draft program, formally solicit general public touch upon the Preliminary draft strategy for at least 60 days by:
(A) A duplicate of the general public area on the lender's more info most up-to-date CRA general performance analysis and a listing of companies furnished by the department; and
The Board considers the weighted average in the overall performance scores comparable to the bank's conclusions for your Local community Advancement Funding Exam for its facility-dependent evaluation parts throughout the nationwide location, calculated pursuant to part IV of appendix B to this portion.
For each key product or service line, a Borrower Group Benchmark, calculated pursuant to paragraph IV.c of appendix A to this section for facility-dependent evaluation parts and retail lending evaluation spots, and paragraph IV.e of appendix A to this element for out of doors retail lending parts.
A bank which has been accepted to be evaluated beneath a strategic system have to incorporate in its public file a copy of that plan although it can be in outcome. A lender needn't involve information and facts submitted to your Board over a private basis together with the program.