5 Simple Statements About 228 loan Explained

5 Simple Statements About 228 loan Explained

Blog Article

질문과 답변을 제공하는 서비스입니다. 궁금한 점이 있다면 지식인에서 검색해 보세요.

(E) The lender fails to deliver info asked for with the Board that may be essential for the Board to help make an educated choice.

This part implements the necessity while in the CRA that the Board assess a financial institution's history of helping to satisfy the credit rating desires on the neighborhood communities during which the lender is chartered, in keeping with the Safe and sound and seem Procedure of your financial institution, and to take this document into account within the agency's analysis of an software for the deposit facility by the lender. Accordingly, this component:

(i) The retail lending demands of its facility-primarily based assessment areas, retail lending assessment areas, and out of doors retail lending location which might be protected via the program. A lender that originates or purchases loans in an item line evaluated pursuant towards the Retail Lending Test in § 228.

The Board may well approve a system right after looking at the standards in paragraph (h)(3) of this part and when it determines which the bank has supplied ample justification for the program and each aspect of the prepare as expected in paragraph (d) of this part.

(one) Establishes the framework and requirements by which the Board assesses a financial institution's record of responding into the credit wants of its full community, including small- and moderate-money neighborhoods, in step with the Harmless and seem operation from the lender; and

(2) A copy of the general public section of your financial institution's most up-to-date CRA overall performance evaluation geared up because of the Board. The lender should incorporate this copy in the public file inside thirty organization days following its receipt in the Board;

(2) In the event the members or investors opt to allocate Local community development loans or Neighborhood enhancement investments amongst themselves for thought underneath this section, no participant or Trader might declare a loan origination, loan purchase, or expenditure for Group advancement thing to consider if An additional participant or Trader claims the identical loan origination, loan acquire, or expenditure; and

(B) The Board determines that analysis underneath the system would not provide a additional meaningful reflection of the bank's record of assisting to satisfy the credit history requires with the financial institution's community;

Over the time period of the system, a lender may perhaps ask for the Board to approve an Modification into the approach in the absence of a material change in situation.

The Board evaluates a bank's distant support facility availability in a facility-based mostly assessment space according to the subsequent:

) Any rise in the calendar year to an present Local community more info growth loan that is certainly refinanced or renewed or to an existing community development expense that is renewed;

(ii) The amount and proportion of originations and programs of aggregate mortgage loan lending of all lenders reporting HMDA info in the facility-based evaluation space and as applicable, the retail lending assessment area; and

has the same this means as that phrase is described with the Director in the Workplace of Administration and Price range.