Press Releases
Press Release
For Immediate Release November 15, 2013


Agencies Release Final Revisions to Interagency Questions and Answers Regarding Community Reinvestment

WASHINGTON--The federal bank regulatory agencies with responsibility for Community Reinvestment Act (CRA) rulemaking today published final revisions to ďInteragency Questions and Answers Regarding Community Reinvestment.Ē The Questions and Answers document provides additional guidance to financial institutions and the public on the agenciesí CRA regulations.

The revisions focus primarily on community development. Community development activities are considered as part of the CRA performance tests for large institutions, intermediate small institutions, and wholesale and limited purpose institutions. Small institutions may use community development activity to receive consideration toward an outstanding CRA rating. Among other things, the amendments:

  • Clarify how the agencies consider community development activities that benefit a broader statewide or regional area that includes an institutionís assessment area.
  • Provide guidance related to CRA consideration of, and documentation associated with, investments in nationwide funds.
  • Clarify the consideration of certain community development services, such as service on a community development organizationís Board of Directors.
  • Address the treatment of loans or investments to organizations that, in turn, invest those funds and use only a portion of the income from their investment to support a community development purpose.
  • Clarify that community development lending performance is always a factor considered in a large institutionís lending test rating.

The final revisions are being issued by the Federal Reserve Board, Federal Deposit Insurance Corporation, and Office of the Comptroller of the Currency. The attached notice will be published shortly in the Federal Register. The agencies also are revising the relevant interagency CRA examination procedures, which will be released soon.

For more information on the CRA, including these Questions and Answers and the agenciesí CRA regulations, visit the Federal Financial Institutions Examination Council website at:


Attachment (DOC)

The FFIEC was established in March 1979 to prescribe uniform principles, standards, and report forms, and to promote uniformity in the supervision of financial institutions. The Council has six voting members: a Governor of the Board of Governors of the Federal Reserve System, designated by the Chairman of the Board; the Chairman of the Federal Deposit Insurance Corporation; the Chairman of the Board of the National Credit Union Administration; the Comptroller of the Currency; the Director of the Consumer Financial Protection Bureau; and the Chairman of the State Liaison Committee. The Council's activities are supported by interagency task forces and by an advisory State Liaison Committee, comprised of five representatives of state agencies that supervise financial institutions.

Media Contacts:

Federal Reserve Susan Stawick (202) 452-2955
FDIC Greg Hernandez (202) 898-6984
OCC Stephanie Collins (202) 649-6870