procedure

Community Reinvestment Act: Revision of Small and Intermediate Small Bank and Savings Association Asset Thresholds

ID 26559

The Office of the Comptroller of the Currency has issued a new bulletin (OCC Bulletin 2023-40) to announce the yearly adjustment of the asset size thresholds of the categories „small“ and „intermediate small“ institutions for 2024. These categories are used
(a) by regulatory authorities to apply different evaluation procedures to assess the performance of institutions under the Community Reinvestment Act and
(b) to determine reporting requirements – or an exemption thereof – of institutions.
The new thresholds reflect an 4.06% increase in the consumer price index (CPI) and are the following:
“Small banks” or “small savings associations” are institutions with assets of less than $1.564 billion „as of December 31 of either of the prior two calendar years“.
“Intermediate small banks” or “intermediate small savings associations” are institutions „with assets of at least $391 million as of December 31 of both of the prior two calendar years and less than $1.564 billion as of December 31 of either of the prior two calendar years.“
The new thresholds apply from January 1, 2024.

Other Features
assessment
banks
building societies
compliance
disclosure
reporting
Date Published: 2023-12-26
Date Taking Effect: 2024-01-01
Regulatory Framework: Community Reinvestment Act
Regulatory Type: procedure

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