Regulatory Alerts2020-12-23 | 2020-28116Community Reinvestment Act Regulations
The Board of Governors of the Federal Reserve System and the Federal Deposit Insurance Corporation jointly amended their Community Reinvestment Act regulations to update asset-size thresholds for small and intermediate small banks. Applying a statutory formula based on the annual Consumer Price Index for Urban Wage Earners and Clerical Workers, the agencies raised the small bank asset threshold to $1.322 billion and the intermediate small bank threshold to $330 million. The technical amendment takes effect on January 1, 2021, without imposing new reporting requirements or requiring prior public notice.
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