§__.41(3) & (4) Inclusion of an MSA and Adjacent Counties in a Single Assessment Area
§__.41(e)(4) – 2 Q: May an institution delineate one assessment area that consists of an MSA and two large counties that abut the MSA but are not adjacent to each other? A2. As a general rule, an institution’s assessment area should not extend substantially beyond the boundary of an MSA. Therefore, the MSA would be a separate…
§__.42 Required CRA Data Collection and Reporting
§__.42 – 1 Q: When must an institution collect and report data under the CRA regulations? A1. All institutions except small institutions are subject to data collection and reporting requirements. (“Small institution” is defined in the Agencies’ CRA regulations at 12 CFR .12(u).) Examples describing the data collection requirements of institutions, in particular those that have just…
§__.42 Required CRA Data Collection Format
§__.42 – 2 Q: Should an institution develop its own program for data collection, or will the regulators require a certain format? A2. An institution may use the free software that is provided by the FFIEC to reporting institutions for data collection and reporting or develop its own program. Those institutions that develop their own programs may…
§__.42 CRA Data Collection for Lines of Credit
§__.42 – 3 Q: How should an institution report data on lines of credit? A3. Institutions must collect and report data on lines of credit in the same way that they provide data on loan originations. Lines of credit are considered originated at the time the line is approved or increased; and an increase is considered a…
§__.42 CRA Data Collection for Line of Credit Renewals
§__.42 – 4 Q: Should renewals of lines of credit be collected and/or reported? A4. Renewals of lines of credit for small business, small farm, consumer, or community development purposes should be collected and reported, if applicable, in the same manner as renewals of small business or small farm loans. See Q&A §__.42(a) – 5 Institutions that are HMDA…
§__.42 CRA Data Collection for Merging Institutions
§__.42 – 5 Q: When should merging institutions collect data? A5. Three scenarios of data collection responsibilities for the calendar year of a merger and subsequent data reporting responsibilities are described below. Two institutions are exempt from CRA collection and reporting requirements because of asset size. The institutions merge. No data collection is required for the year…
§__.42 CRA Data Collection Software for Small Institutions
§__.42 – 6 Q: Can small institutions get a copy of the data collection software even though they are not required to collect or report data? A6. Yes. Any institution that is interested in receiving a copy of the software may download it from the FFIEC Web site at https://www.ffiec.gov/cra. For assistance, institutions may send an e-mail…
§__.42 Wholesale and Limited Purpose CRA Data Collection Requirements
§__.42 – 7 Q: If a small institution is designated a wholesale or limited purpose institution, must it collect data that it would not otherwise be required to collect because it is a small institution? A7. No. However, small institutions that are designated as wholesale or limited purpose institutions must be prepared to identify those loans, investments,…
§__.42(a) CRA Data Collection on Commercial Loans
§__.42(a) – 1 Q: Must institutions collect and report data on all commercial loans of $1 million or less at origination? A1. No. Institutions that are not exempt from data collection and reporting are required to collect and report only those commercial loans that they capture in Call Report Schedule RC-C, Part II. Small business loans are…
§__.42(a) CRA Data Collection for Small Business Loans
§__.42(a) – 2 Q: For loans defined as small business loans, what informations would be collected and maintained? A2. Institutions that are not exempt from data collection and reporting are required to collect and maintain, in a standardized, machine-readable format, information on each small business loan originated or purchased for each calendar year: A unique number or…