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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 Press Release December 17, 2007 Annual notice of asset-size exemption threshold for depository institutions, Regulation C For immediate release Share The Federal Reserve Board on Monday published its annual notice of the asset-size exemption threshold for depository institutions under Regulation C, which implements the Home Mortgage Disclosure Act (HMDA). The asset-size exemption for depository institutions will increase from $36 million to $37 million based on the annual percentage change in the Consumer Price Index for Urban Wage Earners and Clerical Workers for the twelve-month period ending in November 2007. As a result, depository institutions with assets of $37 million or less as of December 31, 2007, are exempt from collecting data in 2008. An institution’s exemption from collecting data in 2008 does not affect its responsibility to report the data it was required to collect in 2007. The adjustment is effective January 1, 2008. HMDA and the Board’s Regulation C require most mortgage lenders located in metropolitan areas to collect, report, and disclose data about applications for, and originations and purchases of, home purchase loans, home improvement loans, and refinancings. Data reported include the type, purpose, and amount of the loan; the race, ethnicity, sex, and income of the loan applicant; the location of the property; and loan price information for some loans. The purposes of HMDA include helping to determine whether financial institutions are serving the Economic Research Data Consumers & Communities housing needs of their communities and assisting in fair lending enforcement. The Board’s notice is attached. Federal Register Notice 50 KB PDF | TEXT Last Update: December 17, 2007 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 STAY CONNECTED Contact Publications Freedom of Information (FOIA) Office of Inspector General Budget & Performance | Audit No FEAR Act Español Website Policies | Privacy Program Accessibility BOARD OF GOVERNORS of the FEDERAL RESERVE SYSTEM 20th Street and Constitution Avenue N.W., Washington, DC 20551
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