The Office of the Comptroller of the Currency, the Federal Reserve Board, and the Federal Deposit Insurance Corporation (the Agencies) are proposing to clarify their Interagency Questions and Answers Regarding Community Reinvestment to address several community development issues. The Questions and Answers were first published under the auspices of the Federal Financial Institutions Examination Council (FFIEC) in 1996, and were last revised on March 11, 2010.
The Agencies propose to:
- Revise five questions and answers, which address
- Community development activities outside institutions’ assessment areas, both in the broader statewide or regional area and in nationwide funds;
- Additional ways to determine whether recipients of community services are low- or moderate-income; and
- Providing a community development service by serving on the board of directors of a community development organization.
- Add two new questions and answers, one of which addresses the treatment of community development performance in determining an institution’s lending test rating, and the other addresses the quantitative consideration given to a certain type of community development investment.
- Redesignate one question and answer without substantive change.
The proposed questions are available by clicking here.