Banking Agencies Release Annual CRA Asset-Sized Threshold Adjustments
The three federal bank regulatory agencies today announced the annual adjustment to the asset thresholds to define small bank, small savings association, intermediate small bank and intermediate mall savings association under the Community Reinvestment Act regulations. According to the Office of the Comptroller of the Currency, Federal Deposit Insurance Corporation and Federal Reserve Board, small bank and small savings association are defined as an institution that had assets of less than $1.284 billion as of Dec. 31 of either of the prior two calendar years. Intermediate small bank or intermediate small savings association means a small institution with assets between $321 million and $1.284 billion as of Dec. 31 of either of the prior two calendar years. Institutions meeting small and intermediate small institution thresholds are not subject to the reporting requirements applicable to large banks and savings association unless they choose to be evaluated as a large institution. The new thresholds will be effective Jan. 1, 2019.