National Bank Public Welfare Investment Authority (12 CFR 24)
National banks may make investments that are primarily designed to promote the public welfare under the investment authority in 12 USC 24 (Eleventh) and the implementing regulation, 12 CFR 24. This authority allows banks to make investments if those investments primarily benefit low- and moderate-income individuals, low- and moderate-income areas, or other areas targeted by a government entity for redevelopment, or if the investments would receive consideration under 12 CFR 25.23 (the Community Reinvestment Act regulation) as a "qualified investment.” Examples of public welfare investments include those supporting affordable housing and other real estate development, providing equity for start-up and small business expansion, and revitalizing or stabilizing a government-designated area.
If you need additional assistance, please call the Community Affairs Department at (202) 649-6420 or contact your District Community Affairs Officer.
Public Welfare Investments Authority and Regulation
- 12 USC 24 (Eleventh)
- 12 CFR 24 Regulation
- OCC 2009-14
- CD-1 Investment Submission Form for 12 CFR 24
- Investments Requiring Prior OCC Approval Under 12 CFR 24
Common 12 CFR 24 Questions and Answers are listed here to provide guidance on national bank investments using the public welfare authority or other appropriate national bank authority.
- After-the-Fact Notification
- Calculating Aggregate Outstanding Investments When Determining 12 CFR 24 Investment Limits
- Calculating Capital and Surplus When Determining 12 CFR 24 Investment Limits
- CRA Regulation and Public Welfare Investments
- Direct Versus Indirect Investments in CEDEs
- Formation of Subsidiary CDCs
- Government Targeted Areas
- Legal Authority for Community Development Investments
- Legal Authority for Investments in Subsidiary Community Development Entities and New Markets Tax Credits
- Legal Lending Limits and Public Welfare Investments
- Maintaining Investment Files
- Minority- and Women-Owned Banks and Thrifts
- Requesting an Increase in 12 CFR 24 Investment Limits
- Annual 2018 (January 1, 2018 - December 31, 2018) PDF and Excel Spreadsheet
- Annual 2017 (January 1, 2017 - December 31, 2017) (PDF) and Excel Spreadsheet
- Annual 2016 (January 1, 2016 - December 31, 2016) (PDF) and Excel Spreadsheet
- Annual 2015 (January 1, 2015 - December 31, 2015) (PDF) and Excel Spreadsheet
- Annual 2014 (January 1, 2014 - December 31, 2014) (PDF) and Excel Spreadsheet
- Archive (Pre-2014)
Community Development Investment Precedent Letters
The OCC posts its precedent setting community development investment letters in the Electronic Interpretations and Actions section of OCC's Web site. These investments were made consistent with the 12 CFR 24 authority and reflect precedent setting actions that are consistent with the public welfare and other requirements of the regulation. Browse index of Community Development Precedent Letters.
Quick Reference Guide to Public Welfare Investments (PDF) describes the guidelines for community development investments covered by 12 CFR 24. It gives an easy-to-follow list of requirements and examples of how banks make investments.
Regulation W Special Analysis: Impact on Community Development Corporations (CDC) (PDF) provides guidance for national bank public welfare investments under 12 USC 24 (Eleventh) and 12 CFR 24 that: (1) present issues under sections 23A and 23B of the Federal Reserve Act, and (2) involve a holding company's transfer of an interest in its CDC to one or more subsidiary banks.
|01/25/2018||NR 2018-6,||Agencies to Give Favorable Community Reinvestment Act Consideration to Revitalization Activities in Disaster Areas Affected by Hurricane Maria|
|11/01/2013||NR 2013-170,||OCC Newsletter Focuses on Public Welfare Investments in Wind Energy Projects|
|02/27/2013||NR 2013-34,||Comptroller Speaks to Members of the National Association of Affordable Housing Lenders|