The Federal Reserve recently announced the CRA asset-size thresholds were updated and will take effect January 1, 2011. These thresholds determine an institution’s classification for CRA purposes.
For either of the prior two calendar year ends (December 31, 2010 & December 31, 2009):
- A “small bank” or “small savings association” means assets less than $1.122 billion
- An “intermediate small bank” or “intermediate small savings association” means assets of at least $280 million but less than $1.122 billion
- A “large bank” or “large savings association” means assets of $1.122 billion or more.
Published
2011/01/01
Amy Kudlacek