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Advanced Search Board of Governors of the Federal Reserve System The Federal Reserve, the central bank of the United States, provides the nation with a safe, flexible, and stable monetary and financial system. About the Fed News & Events Monetary Policy Supervision & Regulation Payment Systems Home > News & Events > Press Releases Joint Press Release March 18, 2013 Agencies release proposed revisions to Interagency Questions and Answers Regarding Community Reinvestment Board of Governors of the Federal Reserve System Federal Deposit Insurance Corporation Office of the Comptroller of the Currency For immediate release Share The federal bank regulatory agencies today requested comment on proposed revisions to "Interagency Questions and Answers Regarding Community Reinvestment." The Questions and Answers document provides additional guidance to financial institutions and the public on the agencies' Community Reinvestment Act (CRA) regulations. The proposed revisions focus primarily on community development. Community development activities are considered as part of the CRA performance tests for large institutions, intermediate small institutions, and wholesale and limited purpose institutions. Small institutions may use community development activity to receive consideration toward an outstanding CRA rating. Among other things, the proposed amendments would: Clarify how the agencies consider community development activities that benefit a broader statewide or regional area that includes an institution's assessment area. Provide guidance related to CRA consideration of, and documentation associated with, investments in nationwide funds. Economic Research Data Consumers & Communities Clarify the consideration of certain community development services. Address the treatment of qualified investments to organizations that use only a portion of the investment to support a community development purpose. Clarify that community development lending should be evaluated in such a way that it may have a positive, neutral, or negative impact on the large institution lending test rating. The proposed revisions are being issued by the Federal Reserve Board, Federal Deposit Insurance Corporation, and Office of the Comptroller of the Currency. The notice that will be published in the Federal Register is attached. Comments will be due 60 days after that publication, which is expected shortly. For more information on the CRA, including these Questions and Answers and the agencies' CRA regulations, visit the Federal Financial Institutions Examination Council website at: http://www.ffiec.gov/cra. Federal Register notice: HTML | PDF Media Contacts: Federal Reserve Board FDIC OCC Susan Stawick Greg Hernandez William Grassano 202-4522955 202-8986984 202-6496870 Last Update: March 18, 2013 BOARD OF GOVERNORS of the FEDERAL RESERVE SYSTEM About the Fed News & Events Monetary Policy Supervision & Regulation Payment Systems Economic Research Data Consumers & Communities Financial Stability TOOLS AND INFORMATION Contact Publications Freedom of Information (FOIA) Office of Inspector General Budget & Performance | Audit No FEAR Act Español Website Policies | Privacy Program Accessibility STAY CONNECTED BOARD OF GOVERNORS of the FEDERAL RESERVE SYSTEM 20th Street and Constitution Avenue N.W., Washington, DC 20551