View original document

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

Federal Reserve Bank of Dallas
2200 N. PEARL ST.
DALLAS, TX 75201-2272

June 2, 2006

Notice 06-26
TO: The Chief Executive Officer of each
financial institution and others concerned
in the Eleventh Federal Reserve District

SUBJECT
List of Distressed and Underserved
Nonmetropolitan Middle-Income Geographies
DETAILS
The federal bank and thrift regulatory agencies have announced the availability of the 2006
list of distressed or underserved nonmetropolitan middle-income geographies in which bank
revitalization or stabilization activities will receive Community Reinvestment Act (CRA)
consideration as “community development.” The 2006 list is the first to incorporate a one-year
lag period for geographies that were designated as distressed or underserved in 2005 but were not
designated as such in the 2006 release. Geographies subject to the one-year lag period are eligible
to receive consideration for community development activities for the twelve months following
publication of the 2006 list.
“Distressed nonmetropolitan middle-income geographies” and “underserved
nonmetropolitan middle-income geographies” are defined in CRA regulations. The criteria used
to designate these areas are available on the Federal Financial Institutions Examination Council
(FFIEC) web site at www.FFIEC.gov/cra. Additionally, both the 2006 list and the revised 2005
list can be found on the FFIEC web site, along with the data source information used to generate
the list of distressed or underserved geographies.
ATTACHMENT
A copy of the agencies’ press release dated June 1, 2006, is attached.

For additional copies, bankers and others are encouraged to use one of the following toll-free numbers in contacting the Federal
Reserve Bank of Dallas: Dallas Office (800) 333-4460; El Paso Branch Intrastate (800) 592-1631, Interstate (800) 351-1012;
Houston Branch Intrastate (800) 392-4162, Interstate (800) 221-0363; San Antonio Branch Intrastate (800) 292-5810.

-2MORE INFORMATION
For more information, please contact Diane van Gelder, Banking Supervision Department,
(214) 922-6282. Previous Federal Reserve Bank notices are available on our web site at
www.dallasfed.org/banking/notices/index.html or by contacting the Public Affairs Department
at (214) 922-5254.

Joint Press Release

Board of Governors of the Federal Reserve System
Federal Deposit Insurance Corporation
Office of the Comptroller of the Currency
Office of Thrift Supervision

For immediate release

June 1, 2006

Agencies Release List of Distressed or Underserved Nonmetropolitan Middle-Income
Geographies
The federal bank and thrift regulatory agencies today announced the availability of the 2006
list of distressed or underserved nonmetropolitan middle-income geographies in which bank
revitalization or stabilization activities will receive Community Reinvestment Act (CRA)
consideration as "community development." The 2006 list is the first to incorporate a one-year
lag period for geographies that were designated as distressed or underserved in 2005, but
were not designated as such in the 2006 release. Geographies subject to the one-year lag
period are eligible to receive consideration for community development activities for the
twelve months following publication of the 2006 list.
In addition, the 2005 list of distressed or underserved nonmetropolitan middle-income
geographies was revised after discrepancies were identified in calculations that were used to
qualify geographies as "distressed" or "underserved." Although the discrepancies were minor,
the revised list includes several additional geographies that were not previously included, thus
expanding the list of geographies eligible for CRA consideration.
"Distressed nonmetropolitan middle-income geographies" and "underserved nonmetropolitan
middle-income geographies" are defined in CRA regulations. The criteria used to designate
these areas are available on the Federal Financial Institutions Examination Council (FFIEC)
web site (www.FFIEC.gov/cra).
Both the 2006 list and the revised 2005 list can also be found on the FFIEC web site, along
with the data source information used to generate the list of distressed or underserved
geographies.
Media Contacts:
Federal Reserve
FDIC
OCC
OTS

Susan Stawick
David Barr
Dean DeBuck
Katie Fitzgerald

(202) 452-2955
(202) 898-6992
(202) 874-5770
(202) 906-6677


Federal Reserve Bank of St. Louis, One Federal Reserve Bank Plaza, St. Louis, MO 63102