228 loan - An Overview
228 loan - An Overview
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The Board may possibly approve a system soon after considering the criteria in paragraph (h)(three) of this part and when it determines which the financial institution has supplied sufficient justification with the prepare and every aspect of the approach as demanded in paragraph (d) of this area.
(ii) To amass possession or Charge of shares or all or substantially the entire assets of the bank, to bring about a lender to be a subsidiary of the lender holding company, or to merge or consolidate a financial institution Keeping corporation with some other bank holding organization inside a transaction that needs approval under portion three from the Lender Keeping Business Act (12 U.S.C. 1842);
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(three) A small small business loan or modest farm loan is situated within the census tract the place the most crucial organization facility or farm is situated or where by the borrower will in any other case utilize the loan proceeds, as indicated by the borrower.
(B) A lender in addition to a sizable bank may perhaps involve a Neighborhood enhancement services ingredient and accompanying annual measurable goals in its approach.
A lender should specify in its program how all components of a strategy coated in paragraphs (g)(1) via (5) of the portion, together with any other relevant overall performance tests not A part of an authorised strategic approach, ought to be viewed as to assign:
(B) A lender could specify utilizing assets in its place denominator for a community growth click here funding metric if it improved measures a lender's capability.
The Board utilizes the facility-based mostly assessment areas delineated by a bank in its evaluation in the financial institution's CRA overall performance Unless of course the Board establishes that the power-based mostly evaluation locations usually do not comply with the requirements of the section.
means the performance of volunteer solutions by a lender's or its affiliate's board members or staff, performed on behalf of the lender, the place Individuals companies:
For each major merchandise line, a Geographic Community Benchmark, calculated pursuant to paragraph III.c of appendix A to this part for facility-dependent assessment parts and retail lending assessment places, and paragraph III.e of appendix A to this section for out of doors retail lending spots.
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A lender have to delineate a number of facility-based mostly evaluation places in just which the Board evaluates the lender's file of assisting to meet the credit rating needs of its total Group pursuant for the general performance exams and strategic strategy described in § 228.21.
During the interval once the bank is formally soliciting community comment on its First draft strategy, the lender need to make copies of the Preliminary draft approach accessible for evaluate for free of charge in any way offices of your bank in almost any facility-primarily based assessment space protected through the program and supply copies from the initial draft system upon request for a reasonable charge to go over copying and mailing, if relevant.