In the December 27, 2017 issue of the Federal Register (82 FR 61143, click here), the Office of the Comptroller of the Currency, Treasury (OCC), the Board of Governors of the Federal Reserve System (FRB), and the Federal Deposit Insurance Corporation (FDIC) published a joint final rule amending their respective Community Reinvestment Act (CRA) regulations to adjust the asset-size thresholds used to define “small bank,” “small savings association,” “intermediate small bank,” and “intermediate small savings association,” as set out below: Effective January 1, 2018, the OCC, the FRB and the FDIC are revising their CRA regulations in 12 CFR §§25.12(u)(1), 195.12(u)(1), 228.12(u)(1), and 345.12(u)(1), respectively, to increase the asset-size thresholds used to define “small bank,” “intermediate small bank,” “small savings association,” and “intermediate small savings association.” Beginning January 1, 2018, banks and savings associations that, as of December 31 of either of the prior two calendar years, had assets of less than $1.252 billion (an increase from $1.226 billion) are small banks or small savings associations. Beginning January 1, 2018, small banks and small savings associations with assets of at least $313 million (an increase from $307 million) as of December 31 of both of the prior two calendar years and less than $1.252 billion (an increase from $1.226 billion) as of December 31 of either of the prior two calendar years are intermediate small banks or intermediate small savings associations. The current and historical asset-size thresholds also are published on the website of the Federal Financial Institutions Examination Council at http://www.ffiec.gov/cra/. Additionally, on November 24, 2017, the OCC, FRB and FDIC published amendments to their CRA regulations (82 FR 55734, click here), effective January 1, 2018, by modifying the existing definitions of “home mortgage loan” and “consumer loan,” related cross references, and the public file content requirements to be consistent with prior amendments to Regulation C by the Consumer Financial Protection Bureau. In that Federal Register publication, §345.12(j) of the FDIC’s CRA regulation, which provides for the definition of “consumer loan,” contained a typographical error: i.e., §345.12(j)(4) was reserved in error. To correct this error, §345.12(j)(5) is redesignated as §345.12(j)(4) and §345.12(j)(5) is removed.
