Date: July 11, 2014
Description: Outlook Live Webinar on Interagency Questions and Answers Regarding Community Reinvestment
Please join staff members from the Federal Deposit Insurance Corporation, the Board of Governors of the Federal Reserve System, and the Office of the Comptroller of the Currency (OCC) (collectively, the agencies) for a discussion of the revisions to the "Interagency Questions and Answers Regarding Community Reinvestment" (Q&As) that were issued on November 15, 2013, and the revised interagency "Large Institution Community Reinvestment Act Examination Procedures" (CRA examination procedures) that were issued on April 18, 2014. The revisions to the Q&As and the revised CRA examination procedures primarily address community development issues.
Thursday, July 17, 2014
|Time:||11:00 a.m.–12:30 p.m. Pacific|
|12:00 p.m.–1:30 p.m. Mountain|
|1:00 p.m.–2:30 p.m. Central|
|2:00 p.m.–3:30 p.m. Eastern|
Participants must register by July 17, 2014, to join the live session.
The presentation will be followed by a question-and-answer segment with the audience. In addition to submitting questions during the webinar, please consider sending questions via email in advance of the event to facilitate the Q&A segment. Log-in and email information will be provided with registration confirmation.
This webinar is part of an ongoing series of events focusing on consumer compliance issues. The Outlook Live Audio Conference is a Federal Reserve System initiative produced in conjunction with the quarterly newsletter Consumer Compliance Outlook.
This webinar will cover new Q&As that
- clarify how the agencies consider community development activities benefiting a broader statewide or regional area that includes an institution's 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 organization's 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 investments to support a community development purpose.
- clarify that community development lending performance is always considered in a large financial institution's lending test rating.
Note for Community Banks
The webinar discusses new Q&As that are applicable to all OCC-supervised institutions.
The CRA requires each federal financial supervisory agency to assess the record of a depository institution in helping to meet the credit needs of its entire community, including low- and moderate-income neighborhoods, consistent with safe and sound operations. The agencies consider that record when reviewing certain licensing applications by the institution. The interagency Q&As provide guidance for use by agency personnel, financial institutions, and the public for the interpretation of the regulatory requirements under the CRA.
Please contact the Compliance Policy Department at (202) 649-5470. For more information on the CRA, including these Q&As and the agencies' CRA regulations, visit the Federal Financial Institutions Examination Council Website.
Grovetta N. Gardineer
Deputy Comptroller for Compliance Operations and Policy