Detailed Notes on 228 loan
Detailed Notes on 228 loan
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(i) The retail lending requirements of its facility-primarily based assessment spots, retail lending assessment regions, and outside retail lending region that happen to be protected via the plan. A bank that originates or purchases loans in an item line evaluated pursuant towards the Retail Lending Test in § 228.
The Board considers the loans, investments, solutions, and products of affiliates of the lender that are not functions subsidiaries, within the financial institution's option, issue to the next:
The surface retail lending space is comprised of ingredient geographic spots. A part geographic place is any MSA or even the nonmetropolitan area of any Condition, or part thereof, provided within the surface retail lending space.
When making use of performance assessments and strategic designs pursuant to paragraph (a) of this section, and when determining whether to approve a strategic approach pursuant to § 228.
(6) A bank's closed-finish home home finance loan lending, smaller business enterprise lending, compact farm lending, or car lending in distressed or underserved nonmetropolitan middle-earnings census tracts where a bank's nonmetropolitan facility-based evaluation region or nonmetropolitan retail lending evaluation location incorporates hardly any or no very low- and average-cash flow census tracts; and
Loans by a bank straight to corporations or farms, like, although not limited to, loans in conjunction or syndicated having a U.
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For automobile loans, the Board compares a bank's geographic and borrower distributions for the relevant Local community benchmarks, as provided in paragraph (f) of this portion and portion VI of appendix A to this element.
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The Board reviews the effects and responsiveness of the financial institution's Neighborhood improvement loans and community progress investments that reward or serve the nationwide place, as presented in § 228.fifteen.
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In case the Board approves the designation, it get more info remains in effect right until the financial institution requests revocation from the designation or until a person 12 months after the Board notifies a minimal goal lender the Board has revoked the designation on the Board's individual initiative.
If a navy financial institution delineates all the United States and its territories as its sole facility-primarily based assessment location pursuant to § 228.16(d), the Board evaluates the bank exclusively in the institution level according to its efficiency in its sole facility-based mostly evaluation space.
means a company designed to serve, in outcome, like a independently incorporated Section of the financial institution, accomplishing, at areas at which the lender is licensed to engage in small business, functions that the financial institution is empowered to accomplish immediately.