Agencies Release Proposed Revisions to Interagency Q&A on Community Reinvestment

The OCC, Board of Governors of the Federal Reserve System and FDIC (collectively, the "Agencies") are proposing to clarify their Interagency Questions and Answers Regarding Community Reinvestment to address community development issues. The Agencies propose to address (i) community development activities outside institutions' assessment areas, both in the broader statewide or regional area and in nationwide funds; (ii) additional ways to determine whether recipients of community services are low- or moderate income; and (iii) providing a community development service by serving on the board of directors of a community development organization.The Agencies also propose to add two questions and answers, one of which addresses the treatment of community development performance in determining an institution’s lending test rating, and the other of which pertains to the quantitative consideration given to a certain type of community development investment.

Comments Due: May 17, 2013.

View Notice in full here (links externally to GPO website).
See also: Press Release.