228 loan - An Overview
228 loan - An Overview
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(3) The bank may well not assert Local community enhancement loans or Group advancement investments accounting for over its percentage share (based on the extent of its participation or financial investment) of the total loans or investments produced by the consortium or third party.
The Board may perhaps approve a approach just after contemplating the criteria in paragraph (h)(3) of the section and if it establishes the lender has provided satisfactory justification with the plan and each aspect of the system as demanded in paragraph (d) of the area.
) of the area, a financial institution could offer various weights for averaging collectively the effectiveness across these loan goods and may include those loan products within the numerator from the Lender Quantity Metric.
When implementing effectiveness tests and strategic designs pursuant to paragraph (a) of this portion, and when analyzing irrespective of whether to approve a strategic system pursuant to § 228.
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(4) Are supplied to folks at a place of work where by nearly all of workforce are very low- or moderate-income, based on U.S. Bureau of Labor Data knowledge for the typical wage for personnel in that exact occupation or marketplace;
The Board weights the bank's general performance score for that effectiveness checks applicable to a considerable financial institution as follows:
(ii) Why an analysis with the financial institution pursuant to any aspect of a approach in paragraph (d)(one) of this part would more meaningfully replicate a financial institution's document of assisting to meet up with the credit score wants of its Neighborhood than if it were evaluated beneath the efficiency tests that could utilize inside the absence of the permitted program; and
The greenback volume of your limited objective bank's community improvement loans and Neighborhood growth investments that reward or serve the State or multistate MSA and an assessment with the affect and responsiveness of All those loans and investments, as provided in § 228.fifteen.
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The Board assigns a conclusion to the effectiveness of the intermediate financial institution evaluated pursuant to this section as offered in appendices C and E to this element. In assigning conclusions for an intermediate bank, the Board might contemplate efficiency context details as presented in § 228.21(d).
Over the term of a prepare, a lender should submit on the Board for approval an Modification to its plan if a material adjust in situation:
(four) If the lender didn't revise the Original draft plan in reaction to solutions or fears from community input obtained, an explanation for why any recommendation or problem was not dealt with from the draft prepare.
For each big solution line, the Board develops a different supporting conclusion for each group of census tracts and every category of borrowers more info described in paragraphs V.a and VI.a of appendix A to this aspect.