82 FR 61143 - Community Reinvestment Act Regulations
DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency
FEDERAL RESERVE SYSTEM
FEDERAL DEPOSIT INSURANCE CORPORATION Federal Register Volume 82, Issue 247 (December 27, 2017)
Office of the Comptroller of the Currency
FEDERAL RESERVE SYSTEM
FEDERAL DEPOSIT INSURANCE CORPORATION
Federal Register Volume 82, Issue 247 (December 27, 2017)
| Page Range | 61143-61145 | |
| FR Document | 2017-27813 |
[Federal Register Volume 82, Number 247 (Wednesday, December 27, 2017)] [Rules and Regulations] [Pages 61143-61145] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2017-27813] ======================================================================= ----------------------------------------------------------------------- DEPARTMENT OF THE TREASURY Office of the Comptroller of the Currency 12 CFR Parts 25 and 195 [Docket ID OCC-2017-0025] RIN 1557-AE30 FEDERAL RESERVE SYSTEM 12 CFR Part 228 [Regulation BB; Docket No. R-1574] RIN 7100-AE84 FEDERAL DEPOSIT INSURANCE CORPORATION 12 CFR Part 345 RIN 3064-AE58 Community Reinvestment Act Regulations AGENCY: Office of the Comptroller of the Currency, Treasury (OCC); Board of Governors of the Federal Reserve System (Board); and Federal Deposit Insurance Corporation (FDIC). ACTION: Joint final rule; technical amendment. ----------------------------------------------------------------------- SUMMARY: The OCC, the Board, and the FDIC (collectively, the Agencies) are amending their Community Reinvestment Act (CRA) regulations to adjust the asset-size thresholds used to define ``small bank'' or ``small savings association'' and ``intermediate small bank'' or ``intermediate small savings association.'' As required by the CRA regulations, the adjustment to the threshold amount is based on the annual percentage change in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). The FDIC is also amending its definition of ``consumer loan'' to correct a typographical error included in a CRA final rule issued on November 24, 2017. DATES: Effective Date: January 1, 2018. FOR FURTHER INFORMATION CONTACT: OCC: Emily Boyes, Attorney, Community and Consumer Law Division, (202) 649-6350; Christopher Rafferty, Law Clerk, Legislative and Regulatory Activities Division, (202) 649-5490; for persons who are deaf or hearing impaired, TTY, (202) 649-5597; or Vonda Eanes, Director, Compliance Risk Policy Division, (202) 649-5470, Office of the Comptroller of the Currency, 400 7th Street SW, Washington, DC 20219. Board: Amal S. Patel, Senior Supervisory Consumer Financial Services Analyst, (202) 912-7879; or Cathy Gates, Senior Project Manager, (202) 452-2099, Division of Consumer and Community Affairs, Board of Governors of the Federal Reserve System, 20th Street and Constitution Avenue NW, Washington, DC 20551. FDIC: Patience R. Singleton, Senior Policy Analyst, Supervisory Policy Branch, Division of Depositor and Consumer Protection, (202) 898-6859; or Richard M. Schwartz, Counsel, Legal Division, (202) 898- 7424, Federal Deposit Insurance Corporation, 550 17th Street NW, Washington, DC 20429. SUPPLEMENTARY INFORMATION: Background and Description of the Joint Final Rule The Agencies' CRA regulations establish CRA performance standards for small and intermediate small banks and savings associations. The CRA regulations define small and intermediate small banks and savings associations by reference to asset-size criteria expressed in dollar amounts, and they further require the Agencies to publish annual adjustments to these dollar figures based on the year-to-year change in the average of the CPI-W, not seasonally adjusted, for each 12-month period ending in November, with rounding to the nearest million. 12 CFR 25.12(u)(2), 195.12(u)(2), 228.12(u)(2), and 345.12(u)(2). This adjustment formula was first adopted for CRA purposes by the OCC, the Board, and the FDIC on August 2, 2005, effective September 1, 2005. 70 FR 44256 (Aug. 2, 2005). The Agencies noted that the CPI-W is also used in connection with other federal laws, such as the Home Mortgage Disclosure Act. See 12 U.S.C. 2808; 12 CFR 1003.2. On March 22, 2007, and effective July 1, 2007, the former Office of Thrift Supervision (OTS), the agency then responsible for regulating savings associations, adopted an annual adjustment formula consistent with that of the other federal banking agencies in its CRA rule previously set forth at 12 CFR part 563e. 72 FR 13429 (Mar. 22, 2007). Pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act),\1\ effective July 21, 2011, CRA rulemaking authority for federal and state savings associations was transferred from the OTS to the OCC, and the OCC subsequently republished, at 12 CFR part 195, the CRA regulations applicable to those institutions.\2\ In addition, the Dodd-Frank Act transferred responsibility for supervision of savings and loan holding companies and their non-depository subsidiaries from the OTS to the Board, and the Board subsequently amended its CRA regulation to reflect this transfer of supervisory authority.\3\ --------------------------------------------------------------------------- \1\ Public Law 111-203, 124 Stat. 1376 (2010). \2\ See OCC interim final rule, 76 FR 48950 (Aug. 9, 2011). \3\ See Board interim final rule, 76 FR 56508 (Sept. 13, 2011). --------------------------------------------------------------------------- The threshold for small banks and small savings associations was revised most recently in December 2016 and became effective January 18, 2017. 82 FR 5354 (Jan. 18, 2017). The current CRA regulations provide that banks and savings associations that, as of December 31 of either of the prior two calendar years, had assets of less than $1.226 billion are small banks or small savings associations. Small banks and small savings associations with assets of at least $307 million as of December 31 of both of the prior two calendar years and less than $1.226 billion as of December 31 of either of the prior two calendar years are intermediate small banks or intermediate small savings associations. 12 CFR 25.12(u)(1), 195.12(u)(1), 228.12(u)(1), and 345.12(u)(1). This joint final rule revises these thresholds. During the 12-month period ending November 2017, the CPI-W increased by 2.11 percent. As a result, the Agencies are revising 12 CFR 25.12(u)(1), 195.12(u)(1), 228.12(u)(1), and 345.12(u)(1) to make this annual adjustment. Beginning January 1, 2018, banks and savings associations that, as of December 31 of either of the prior two calendar years, had assets of less than $1.252 billion are small banks or small savings associations. Small banks and small savings associations with assets of at least $313 million as of December 31 of both of the prior two calendar years and less than $1.252 billion as of December 31 of either of the prior two calendar years are intermediate small banks or intermediate small savings [[Page 61144]] associations. The Agencies also publish current and historical asset- size thresholds on the website of the Federal Financial Institutions Examination Council at http://www.ffiec.gov/cra/. Additionally, on November 24, 2017, the Agencies amended their collective CRA regulations (82 FR 55734) to be consistent with prior amendments to Regulation C by the Consumer Financial Protection Bureau. Section 345.12(j) of the FDIC's CRA regulation, which provides for the definition of ``consumer loan,'' contained a typographical error in the Federal Register publication: Sec. 345.12(j)(4) was reserved in error. To correct this error, Sec. 345.12(j)(5) is redesignated as Sec. 345.12(j)(4) and Sec. 345.12(j)(5) is removed. Administrative Procedure Act and Effective Date Under 5 U.S.C. 553(b)(B) of the Administrative Procedure Act (APA), an agency may, for good cause, find (and incorporate the finding and a brief statement of reasons therefore in the rules issued) that notice and public procedure thereon are impracticable, unnecessary, or contrary to the public interest. The amendments to the regulations to adjust the asset-size thresholds for small and intermediate small banks and savings associations result from the application of a formula established by a provision in the respective CRA regulations that the Agencies previously published for comment. See 70 FR 12148 (Mar. 11, 2005), 70 FR 44256 (Aug. 2, 2005), 71 FR 67826 (Nov. 24, 2006), and 72 FR 13429 (Mar. 22, 2007). As a result, Sec. Sec. 25.12(u)(1), 195.12(u)(1), 228.12(u)(1), and 345.12(u)(1) of the Agencies' respective CRA regulations are amended by adjusting the asset-size thresholds as provided for in Sec. Sec. 25.12(u)(2), 195.12(u)(2), 228.12(u)(2), and 345.12(u)(2). Accordingly, the Agencies' rules provide no discretion as to the computation or timing of the revisions to the asset-size criteria. Furthermore, amending the FDIC's definition of ``consumer loan'' to correct a typographical error is a technical and non-substantive revision. For these reasons, the Agencies have determined that publishing a notice of proposed rulemaking and providing opportunity for public comment are unnecessary. The effective date of this joint final rule is January 1, 2018. Under 5 U.S.C. 553(d)(3) of the APA, the required publication or service of a substantive rule shall be made not less than 30 days before its effective date, except, among other things, as provided by the agency for good cause found and published with the rule. Because this rule adjusts asset-size thresholds consistent with the procedural requirements of the CRA rules, the Agencies conclude that it is not substantive within the meaning of the APA's delayed effective date provision. Moreover, the Agencies find that there is good cause for dispensing with the delayed effective date requirement, even if it applied, because their current rules already provide notice that the small and intermediate small asset-size thresholds will be adjusted as of December 31 based on 12-month data as of the end of November each year. Regulatory Flexibility Act The Regulatory Flexibility Act (RFA) does not apply to a rulemaking when a general notice of proposed rulemaking is not required. 5 U.S.C. 603 and 604. As noted previously, the Agencies have determined that it is unnecessary to publish a general notice of proposed rulemaking for this joint final rule. Accordingly, the RFA's requirements relating to an initial and final regulatory flexibility analysis do not apply. Paperwork Reduction Act of 1995 The Paperwork Reduction Act of 1995 (44 U.S.C. 3501-3521) states that no agency may conduct or sponsor, nor is the respondent required to respond to, an information collection unless it displays a currently valid Office of Management and Budget (OMB) control number. The Agencies have determined that this final rule does not create any new, or revise any existing, collections of information pursuant to the Paperwork Reduction Act. Consequently, no information collection request will be submitted to the OMB for review. Unfunded Mandates Reform Act of 1995 Section 202 of the Unfunded Mandates Reform Act of 1995 (Unfunded Mandates Act), 2 U.S.C. 1532, requires the OCC to prepare a budgetary impact statement before promulgating any final rule for which a general notice of proposed rulemaking was published. As discussed above, the OCC has determined that the publication of a general notice of proposed rulemaking is unnecessary. Accordingly, this joint final rule is not subject to section 202 of the Unfunded Mandates Act. List of Subjects 12 CFR Part 25 Community development, Credit, Investments, National banks, Reporting and recordkeeping requirements. 12 CFR Part 195 Community development, Credit, Investments, Reporting and recordkeeping requirements, Savings associations. 12 CFR Part 228 Banks, Banking, Community development, Credit, Investments, Reporting and recordkeeping requirements. 12 CFR Part 345 Banks, Banking, Community development, Credit, Investments, Reporting and recordkeeping requirements. DEPARTMENT OF THE TREASURY Office of the Comptroller of the Currency 12 CFR Chapter I For the reasons discussed in the SUPPLEMENTARY INFORMATION section, 12 CFR parts 25 and 195 are amended as follows: PART 25--COMMUNITY REINVESTMENT ACT AND INTERSTATE DEPOSIT PRODUCTION REGULATIONS 0 1. The authority citation for part 25 continues to read as follows: Authority: 12 U.S.C. 21, 22, 26, 27, 30, 36, 93a, 161, 215, 215a, 481, 1814, 1816, 1828(c), 1835a, 2901 through 2908, and 3101 through 3111. 0 2. Section 25.12 is amended by revising paragraph (u)(1) to read as follows: Sec. 25.12 Definitions. * * * * * (u) Small bank--(1) Definition. Small bank means a bank that, as of December 31 of either of the prior two calendar years, had assets of less than $1.252 billion. Intermediate small bank means a small bank with assets of at least $313 million as of December 31 of both of the prior two calendar years and less than $1.252 billion as of December 31 of either of the prior two calendar years. * * * * * PART 195--COMMUNITY REINVESTMENT 0 3. The authority citation for part 195 continues to read as follows: Authority: 12 U.S.C. 1462a, 1463, 1464, 1814, 1816, 1828(c), 2901 through 2908, and 5412(b)(2)(B). 0 4. Section 195.12 is amended by revising paragraph (u)(1) to read as follows: [[Page 61145]] Sec. 195.12 Definitions. * * * * * (u) Small savings association--(1) Definition. Small savings association means a savings association that, as of December 31 of either of the prior two calendar years, had assets of less than $1.252 billion. Intermediate small savings association means a small savings association with assets of at least $313 million as of December 31 of both of the prior two calendar years and less than $1.252 billion as of December 31 of either of the prior two calendar years. * * * * * FEDERAL RESERVE SYSTEM 12 CFR Chapter II For the reasons set forth in the SUPPLEMENTARY INFORMATION section, the Board of Governors of the Federal Reserve System amends part 228 of chapter II of title 12 of the Code of Federal Regulations as follows: PART 228--COMMUNITY REINVESTMENT (REGULATION BB) 0 5. The authority citation for part 228 is revised to read as follows: Authority: 12 U.S.C. 321, 325, 1828(c), 1842, 1843, 1844, and 2901 et seq. 0 6. Section 228.12 is amended by revising paragraph (u)(1) to read as follows: Sec. 228.12 Definitions. * * * * * (u) Small bank--(1) Definition. Small bank means a bank that, as of December 31 of either of the prior two calendar years, had assets of less than $1.252 billion. Intermediate small bank means a small bank with assets of at least $313 million as of December 31 of both of the prior two calendar years and less than $1.252 billion as of December 31 of either of the prior two calendar years. * * * * * FEDERAL DEPOSIT INSURANCE CORPORATION 12 CFR Chapter III Authority and Issuance For the reasons set forth in the SUPPLEMENTARY INFORMATION section, the Board of Directors of the Federal Deposit Insurance Corporation amends part 345 of chapter III of title 12 of the Code of Federal Regulations to read as follows: PART 345--COMMUNITY REINVESTMENT 0 7. The authority citation for part 345 continues to read as follows: Authority: 12 U.S.C. 1814-1817, 1819-1820, 1828, 1831u and 2901- 2908, 3103-3104, and 3108(a). 0 8. Section 345.12 is amended by redesignating paragraph (j)(5) as paragraph (j)(4) and revising paragraph (u)(1) to read as follows: Sec. 345.12 Definitions. * * * * * (u) Small bank--(1) Definition. Small bank means a bank that, as of December 31 of either of the prior two calendar years, had assets of less than $1.252 billion. Intermediate small bank means a small bank with assets of at least $313 million as of December 31 of both of the prior two calendar years and less than $1.252 billion as of December 31 of either of the prior two calendar years. * * * * * Dated: December 19, 2017. Karen Solomon, Acting Senior Deputy Comptroller and Chief Counsel. By order of the Board of Governors of the Federal Reserve System, acting through the Secretary of the Board under delegated authority. Ann E. Misback, Secretary of the Board. By order of the Board of Directors. Dated at Washington, DC, this 14th day of December 2017. Federal Deposit Insurance Corporation. Robert E. Feldman, Executive Secretary. [FR Doc. 2017-27813 Filed 12-26-17; 8:45 am] BILLING CODE 4810-33-P; 6210-01-P; 6714-01-P
![Federal Register / Vol. 82, No. 247 / Wednesday, December 27, 2017 / Rules and Regulations 61143
(c) If the respondent fails to file a of ‘‘consumer loan’’ to correct a an annual adjustment formula
required report and the Commission typographical error included in a CRA consistent with that of the other federal
cannot calculate the level of activity final rule issued on November 24, 2017. banking agencies in its CRA rule
under paragraph (d) of this section, then DATES: Effective Date: January 1, 2018. previously set forth at 12 CFR part 563e.
the civil money penalty shall be $7,797. FOR FURTHER INFORMATION CONTACT: 72 FR 13429 (Mar. 22, 2007).
* * * * * OCC: Emily Boyes, Attorney, Pursuant to the Dodd-Frank Wall
Community and Consumer Law Street Reform and Consumer Protection
§ 111.44 [Amended] Act (Dodd-Frank Act),1 effective July 21,
Division, (202) 649–6350; Christopher
■ 4. In § 111.44, amend paragraph (a)(1) Rafferty, Law Clerk, Legislative and 2011, CRA rulemaking authority for
by removing ‘‘$139’’ and adding in its Regulatory Activities Division, (202) federal and state savings associations
place ‘‘$142’’. 649–5490; for persons who are deaf or was transferred from the OTS to the
hearing impaired, TTY, (202) 649–5597; OCC, and the OCC subsequently
Dated: December 19, 2017.
or Vonda Eanes, Director, Compliance republished, at 12 CFR part 195, the
On behalf of the Commission. CRA regulations applicable to those
Steven T. Walther,
Risk Policy Division, (202) 649–5470,
Office of the Comptroller of the institutions.2 In addition, the Dodd-
Chairman, Federal Election Commission. Frank Act transferred responsibility for
Currency, 400 7th Street SW,
[FR Doc. 2017–27808 Filed 12–26–17; 8:45 am]
Washington, DC 20219. supervision of savings and loan holding
BILLING CODE 6715–01–P Board: Amal S. Patel, Senior companies and their non-depository
Supervisory Consumer Financial subsidiaries from the OTS to the Board,
Services Analyst, (202) 912–7879; or and the Board subsequently amended its
DEPARTMENT OF THE TREASURY Cathy Gates, Senior Project Manager, CRA regulation to reflect this transfer of
(202) 452–2099, Division of Consumer supervisory authority.3
Office of the Comptroller of the and Community Affairs, Board of The threshold for small banks and
Currency Governors of the Federal Reserve small savings associations was revised
System, 20th Street and Constitution most recently in December 2016 and
12 CFR Parts 25 and 195 Avenue NW, Washington, DC 20551. became effective January 18, 2017. 82
FDIC: Patience R. Singleton, Senior FR 5354 (Jan. 18, 2017). The current
[Docket ID OCC–2017–0025]
Policy Analyst, Supervisory Policy CRA regulations provide that banks and
RIN 1557–AE30 Branch, Division of Depositor and savings associations that, as of
Consumer Protection, (202) 898–6859; December 31 of either of the prior two
FEDERAL RESERVE SYSTEM calendar years, had assets of less than
or Richard M. Schwartz, Counsel, Legal
Division, (202) 898–7424, Federal $1.226 billion are small banks or small
12 CFR Part 228 savings associations. Small banks and
Deposit Insurance Corporation, 550 17th
[Regulation BB; Docket No. R–1574] Street NW, Washington, DC 20429. small savings associations with assets of
SUPPLEMENTARY INFORMATION:
at least $307 million as of December 31
RIN 7100–AE84 of both of the prior two calendar years
Background and Description of the and less than $1.226 billion as of
FEDERAL DEPOSIT INSURANCE Joint Final Rule December 31 of either of the prior two
CORPORATION
The Agencies’ CRA regulations calendar years are intermediate small
establish CRA performance standards banks or intermediate small savings
12 CFR Part 345
for small and intermediate small banks associations. 12 CFR 25.12(u)(1),
RIN 3064–AE58 and savings associations. The CRA 195.12(u)(1), 228.12(u)(1), and
regulations define small and 345.12(u)(1). This joint final rule revises
Community Reinvestment Act these thresholds.
intermediate small banks and savings
Regulations During the 12-month period ending
associations by reference to asset-size
AGENCY: Office of the Comptroller of the criteria expressed in dollar amounts, November 2017, the CPI–W increased
Currency, Treasury (OCC); Board of and they further require the Agencies to by 2.11 percent. As a result, the
Governors of the Federal Reserve publish annual adjustments to these Agencies are revising 12 CFR
System (Board); and Federal Deposit dollar figures based on the year-to-year 25.12(u)(1), 195.12(u)(1), 228.12(u)(1),
Insurance Corporation (FDIC). change in the average of the CPI–W, not and 345.12(u)(1) to make this annual
seasonally adjusted, for each 12-month adjustment. Beginning January 1, 2018,
ACTION: Joint final rule; technical
period ending in November, with banks and savings associations that, as
amendment. of December 31 of either of the prior two
rounding to the nearest million. 12 CFR
SUMMARY: The OCC, the Board, and the 25.12(u)(2), 195.12(u)(2), 228.12(u)(2), calendar years, had assets of less than
FDIC (collectively, the Agencies) are and 345.12(u)(2). This adjustment $1.252 billion are small banks or small
amending their Community formula was first adopted for CRA savings associations. Small banks and
Reinvestment Act (CRA) regulations to purposes by the OCC, the Board, and the small savings associations with assets of
adjust the asset-size thresholds used to FDIC on August 2, 2005, effective at least $313 million as of December 31
define ‘‘small bank’’ or ‘‘small savings September 1, 2005. 70 FR 44256 (Aug. of both of the prior two calendar years
association’’ and ‘‘intermediate small 2, 2005). The Agencies noted that the and less than $1.252 billion as of
bank’’ or ‘‘intermediate small savings CPI–W is also used in connection with December 31 of either of the prior two
association.’’ As required by the CRA other federal laws, such as the Home calendar years are intermediate small
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regulations, the adjustment to the Mortgage Disclosure Act. See 12 U.S.C. banks or intermediate small savings
threshold amount is based on the 2808; 12 CFR 1003.2. On March 22, 1 Public Law 111–203, 124 Stat. 1376 (2010).
annual percentage change in the 2007, and effective July 1, 2007, the 2 See OCC interim final rule, 76 FR 48950 (Aug.
Consumer Price Index for Urban Wage former Office of Thrift Supervision 9, 2011).
Earners and Clerical Workers (CPI–W). (OTS), the agency then responsible for 3 See Board interim final rule, 76 FR 56508 (Sept.
The FDIC is also amending its definition regulating savings associations, adopted 13, 2011).
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![Federal Register / Vol. 82, No. 247 / Wednesday, December 27, 2017 / Rules and Regulations 61145
§ 195.12 Definitions. Authority: 12 U.S.C. 1814–1817, 1819– SUPPLEMENTARY INFORMATION: In FR Doc.
* * * * * 1820, 1828, 1831u and 2901–2908, 3103– 2017–27411, appearing on page 60290
(u) Small savings association—(1) 3104, and 3108(a). in the Federal Register of Wednesday,
Definition. Small savings association ■ 8. Section 345.12 is amended by December 20, 2017, the following
means a savings association that, as of redesignating paragraph (j)(5) as corrections are made:
December 31 of either of the prior two paragraph (j)(4) and revising paragraph
calendar years, had assets of less than (u)(1) to read as follows: § 790.2 [Corrected]
$1.252 billion. Intermediate small ■ On page 60292, in the second column,
§ 345.12 Definitions.
savings association means a small in part 790, in amendment 10, the
savings association with assets of at * * * * * instruction ‘‘In § 790.2, revise the
least $313 million as of December 31 of (u) Small bank—(1) Definition. Small second sentence of paragraph (b)(6),
both of the prior two calendar years and bank means a bank that, as of December paragraph (b)(12), the third sentence of
less than $1.252 billion as of December 31 of either of the prior two calendar paragraph (b)(13), and paragraph (b)(15)
31 of either of the prior two calendar years, had assets of less than $1.252 to read as follows:’’ is corrected to read
years. billion. Intermediate small bank means ‘‘In § 790.2, revise the second sentence
a small bank with assets of at least $313 of paragraph (b)(6), paragraph (b)(12),
* * * * *
million as of December 31 of both of the the fourth sentence of paragraph (b)(13),
FEDERAL RESERVE SYSTEM prior two calendar years and less than and paragraph (b)(15) to read as
12 CFR Chapter II $1.252 billion as of December 31 of follows:’’
either of the prior two calendar years.
For the reasons set forth in the By the National Credit Union
SUPPLEMENTARY INFORMATION section, the * * * * * Administration Board on December 21, 2017.
Board of Governors of the Federal Dated: December 19, 2017. Gerard Poliquin,
Reserve System amends part 228 of Karen Solomon, Secretary of the Board
chapter II of title 12 of the Code of Acting Senior Deputy Comptroller and Chief [FR Doc. 2017–27962 Filed 12–26–17; 8:45 am]
Federal Regulations as follows: Counsel.
BILLING CODE 7535–01–P
By order of the Board of Governors of the
PART 228—COMMUNITY Federal Reserve System, acting through the
REINVESTMENT (REGULATION BB) Secretary of the Board under delegated
authority. BUREAU OF CONSUMER FINANCIAL
■ 5. The authority citation for part 228 Ann E. Misback, PROTECTION
is revised to read as follows: Secretary of the Board.
12 CFR Part 1003
Authority: 12 U.S.C. 321, 325, 1828(c), By order of the Board of Directors.
1842, 1843, 1844, and 2901 et seq.
Dated at Washington, DC, this 14th day of Home Mortgage Disclosure
■ 6. Section 228.12 is amended by December 2017. (Regulation C) Adjustment to Asset-
revising paragraph (u)(1) to read as Federal Deposit Insurance Corporation. Size Exemption Threshold
follows: Robert E. Feldman,
AGENCY: Bureau of Consumer Financial
§ 228.12 Definitions. Executive Secretary.
Protection.
[FR Doc. 2017–27813 Filed 12–26–17; 8:45 am]
* * * * * ACTION: Final rule; official commentary.
(u) Small bank—(1) Definition. Small BILLING CODE 4810–33–P; 6210–01–P; 6714–01–P
bank means a bank that, as of December SUMMARY: The Bureau of Consumer
31 of either of the prior two calendar Financial Protection (Bureau) is issuing
years, had assets of less than $1.252 NATIONAL CREDIT UNION a final rule amending the official
billion. Intermediate small bank means ADMINISTRATION commentary that interprets the
a small bank with assets of at least $313 requirements of the Bureau’s Regulation
million as of December 31 of both of the 12 CFR Part 790 C (Home Mortgage Disclosure) to reflect
prior two calendar years and less than RIN 3133–AE81 the asset-size exemption threshold for
$1.252 billion as of December 31 of banks, savings associations, and credit
either of the prior two calendar years. Agency Reorganization; Correction unions based on the annual percentage
* * * * * AGENCY: National Credit Union change in the average of the Consumer
Administration (NCUA). Price Index for Urban Wage Earners and
FEDERAL DEPOSIT INSURANCE Clerical Workers (CPI–W). Based on the
CORPORATION ACTION: Final rule; correction.
2.1 percent increase in the average of
12 CFR Chapter III SUMMARY: The NCUA is correcting a the CPI–W for the 12-month period
final rule that appeared in the Federal ending in November 2017, the
Authority and Issuance exemption threshold is adjusted to
Register on December 20, 2017. The
For the reasons set forth in the document implemented certain features increase to $45 million from $44
SUPPLEMENTARY INFORMATION section, the of the NCUA reorganization that the million. Therefore, banks, savings
Board of Directors of the Federal NCUA Board announced earlier this associations, and credit unions with
Deposit Insurance Corporation amends year. This correction amends one assets of $45 million or less as of
part 345 of chapter III of title 12 of the reference within the document. December 31, 2017, are exempt from
Code of Federal Regulations to read as DATES: This correction is effective collecting data in 2018.
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follows: January 6, 2018. DATES: This final rule is effective
FOR FURTHER INFORMATION CONTACT: January 1, 2018.
PART 345—COMMUNITY
REINVESTMENT Elizabeth Wirick, Senior Staff Attorney, FOR FURTHER INFORMATION CONTACT:
Office of General Counsel, 1775 Duke Monique Chenault, Paralegal Specialist,
■ 7. The authority citation for part 345 Street, Alexandria, VA 22314 or Office of Regulations, Consumer
continues to read as follows: telephone (703) 518–6540. Financial Protection Bureau, 1700 G
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Document Created: 2017-12-27 02:23:34
Document Modified: 2017-12-27 02:23:34
| Category | Regulatory Information | |
| Collection | Federal Register | |
| sudoc Class | AE 2.7: GS 4.107: AE 2.106: | |
| Publisher | Office of the Federal Register, National Archives and Records Administration | |
| Section | Rules and Regulations | |
| Action | Joint final rule; technical amendment. | |
| Dates | Effective Date: January 1, 2018. | |
| Contact | OCC: Emily Boyes, Attorney, Community and Consumer Law Division, (202) 649-6350; Christopher Rafferty, Law Clerk, Legislative and Regulatory Activities Division, (202) 649-5490; for persons who are deaf or hearing impaired, TTY, (202) 649-5597; or Vonda Eanes, Director, Compliance Risk Policy Division, (202) 649-5470, Office of the Comptroller of the Currency, 400 7th Street SW, Washington, DC 20219. | |
| FR Citation | 82 FR 61143 | |
| RIN Number | 1557-AE30, 7100-AE84 and 3064-AE58 | |
| CFR Citation | 12
CFR
195 12 CFR 228 12 CFR 25 12 CFR 345 | |
| CFR Associated | Savings Associations; Banks; Banking; Community Development; Credit; Investments; National Banks and Reporting and Recordkeeping Requirements |
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