Federal Register - September 17, 2021
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Source: Federal Register
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Federal Register / Vol. 86, No. 178 / Friday, September 17, 2021 / Proposed Rules
branch of the savings association that is located in a predominantly minority neighborhood to a minority depository institution or womens depository institution as these terms are defined in 12 U.S.C. 2907b will be considered as a qualified investment.
e Performance criteria. The appropriate Federal banking agency evaluates the investment performance of a savings association pursuant to the following criteria:
1 The dollar amount of qualified investments;
2 The innovativeness or complexity of qualified investments;
3 The responsiveness of qualified investments to credit and community development needs; and 4 The degree to which the qualified investments are not routinely provided by private investors.
f Investment performance rating.
The appropriate Federal banking agency rates a savings associations investment performance as provided in appendix A
of this part.
195.24
Service test.
a Scope of test. The service test evaluates a savings associations record of helping to meet the credit needs of its assessment areas by analyzing both the availability and effectiveness of a savings associations systems for delivering retail banking services and the extent and innovativeness of its community development services.
b Areas benefitted. Community development services must benefit a savings associations assessment areas or a broader statewide or regional area that includes the savings associations assessment areas.
c Affiliate service. At a savings associations option, the appropriate Federal banking agency will consider, in its assessment of a savings associations service performance, a community development service provided by an affiliate of the savings association, if the community development service is not claimed by any other institution.
d Performance criteriaretail banking services. The appropriate Federal banking agency evaluates the availability and effectiveness of a savings associations systems for delivering retail banking services, pursuant to the following criteria:
1 The current distribution of the savings associations branches among low-, moderate-, middle-, and upperincome geographies;
2 In the context of its current distribution of the savings associations branches, the savings associations record of opening and closing branches, particularly branches located in lowor
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moderate-income geographies or primarily serving lowor moderateincome individuals;
3 The availability and effectiveness of alternative systems for delivering retail banking services e.g., ATMs, ATMs not owned or operated by or exclusively for the savings association, banking by telephone or computer, loan production offices, and bank-at-work or bank-by-mail programs in lowand moderate-income geographies and to lowand moderate-income individuals;
and 4 The range of services provided in low-, moderate-, middle-, and upperincome geographies and the degree to which the services are tailored to meet the needs of those geographies.
e Performance criteriacommunity development services. The appropriate Federal banking agency evaluates community development services pursuant to the following criteria:
1 The extent to which the savings association provides community development services; and 2 The innovativeness and responsiveness of community development services.
f Service performance rating. The appropriate Federal banking agency rates a savings associations service performance as provided in appendix A
of this part.
195.25 Community development test for wholesale or limited purpose savings associations.
a Scope of test. The appropriate Federal banking agency assesses a wholesale or limited purpose savings associations record of helping to meet the credit needs of its assessment areas under the community development test through its community development lending, qualified investments, or community development services.
b Designation as a wholesale or limited purpose savings association. In order to receive a designation as a wholesale or limited purpose savings association, a savings association shall file a request, in writing, with the appropriate Federal banking agency, at least three months prior to the proposed effective date of the designation. If the appropriate Federal banking agency approves the designation, it remains in effect until the savings association requests revocation of the designation or until one year after the appropriate Federal banking agency notifies the savings association that the appropriate Federal banking agency has revoked the designation on its own initiative.
c Performance criteria. The appropriate Federal banking agency evaluates the community development
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performance of a wholesale or limited purpose savings association pursuant to the following criteria:
1 The number and amount of community development loans including originations and purchases of loans and other community development loan data provided by the savings association, such as data on loans outstanding, commitments, and letters of credit, qualified investments, or community development services;
2 The use of innovative or complex qualified investments, community development loans, or community development services and the extent to which the investments are not routinely provided by private investors; and 3 The savings associations responsiveness to credit and community development needs.
d Indirect activities. At a savings associations option, the appropriate Federal banking agency will consider in its community development performance assessment:
1 Qualified investments or community development services provided by an affiliate of the savings association, if the investments or services are not claimed by any other institution; and 2 Community development lending by affiliates, consortia and third parties, subject to the requirements and limitations in 195.22c and d.
e Benefit to assessment areas1
Benefit inside assessment areas. The appropriate Federal banking agency considers all qualified investments, community development loans, and community development services that benefit areas within the savings associations assessment areas or a broader statewide or regional area that includes the savings associations assessment areas.
2 Benefit outside assessment areas.
The appropriate Federal banking agency considers the qualified investments, community development loans, and community development services that benefit areas outside the savings associations assessment areas, if the savings association has adequately addressed the needs of its assessment areas.
f Community development performance rating. The appropriate Federal banking agency rates a savings associations community development performance as provided in appendix A
of this part.
195.26 Small savings association performance standards.
a Performance criteria1 Small savings associations that are not intermediate small savings associations.
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