NEW CRA ASSET-SIZE THRESHOLDS

On December 19 the Federal Reserve Board published the new Community Reinvestment Act (CRA) asset-size threshold adjustments for small and intermediate small institutions. The adjustments are based  on the change in the average of the Consumer Price Index (CPI) for urban wage earners and clerical workers, not seasonally adjusted, for each 12-month period ending in November, with rounding to the nearest million.

As a result of the 2.23 percent increase in the CPI index for the period ending in November 2012, the definitions of small and intermediate small institutions for CRA examinations change as follows:

  • “Small bank” or “small savings association” means an institution that, as of December 31 of either of the prior two calendar years, had assets of less than $ 1.186 billion.
  • “Intermediate small bank” or “intermediate small savings association” means a small institution with assets of at least $296 million as of December 31 of both of the prior two calendar years, and less than $ 1.186 billion as of December 31 of either of the prior two calendar years.

The asset-size threshold adjustments are effective January 1, 2013.

The figures for 2012 were $ 1.160 billion and $ 290 million.

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