Federal Register - September 17, 2021
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Source: Federal Register
Federal Register / Vol. 86, No. 178 / Friday, September 17, 2021 / Proposed Rules associations investment performance needs to improve if, in general, it demonstrates:
A A poor level of qualified investments, particularly those that are not routinely provided by private investors;
B Rare use of innovative or complex qualified investments; and C Poor responsiveness to credit and community development needs.
v Substantial noncompliance. The appropriate Federal banking agency rates a savings associations investment performance as being in substantial noncompliance if, in general, it demonstrates:
A Few, if any, qualified investments, particularly those that are not routinely provided by private investors;
B No use of innovative or complex qualified investments; and C Very poor responsiveness to credit and community development needs.
3 Service performance rating. The appropriate Federal banking agency assigns each savings associations service performance one of the five following ratings.
i Outstanding. The appropriate Federal banking agency rates a savings associations service performance outstanding if, in general, the savings association demonstrates:
A Its service delivery systems are readily accessible to geographies and individuals of different income levels in its assessment areas;
B To the extent changes have been made, its record of opening and closing branches has improved the accessibility of its delivery systems, particularly in lowor moderateincome geographies or to lowor moderateincome individuals;
C Its services including, where appropriate, business hours are tailored to the convenience and needs of its assessment areas, particularly lowor moderate-income geographies or lowor moderate-income individuals; and D It is a leader in providing community development services.
ii High satisfactory. The appropriate Federal banking agency rates a savings associations service performance high satisfactory if, in general, the savings association demonstrates:
A Its service delivery systems are accessible to geographies and individuals of different income levels in its assessment areas;
B To the extent changes have been made, its record of opening and closing branches has not adversely affected the accessibility of its delivery systems, particularly in lowand moderate-income geographies and to lowand moderate-income individuals;
C Its services including, where appropriate, business hours do not vary in a way that inconveniences its assessment areas, particularly lowand moderateincome geographies and lowand moderateincome individuals; and D It provides a relatively high level of community development services.
iii Low satisfactory. The appropriate Federal banking agency rates a savings associations service performance low satisfactory if, in general, the savings association demonstrates:
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A Its service delivery systems are reasonably accessible to geographies and individuals of different income levels in its assessment areas;
B To the extent changes have been made, its record of opening and closing branches has generally not adversely affected the accessibility of its delivery systems, particularly in lowand moderate-income geographies and to lowand moderateincome individuals;
C Its services including, where appropriate, business hours do not vary in a way that inconveniences its assessment areas, particularly lowand moderateincome geographies and lowand moderateincome individuals; and D It provides an adequate level of community development services.
iv Needs to improve. The appropriate Federal banking agency rates a savings associations service performance needs to improve if, in general, the savings association demonstrates:
A Its service delivery systems are unreasonably inaccessible to portions of its assessment areas, particularly to lowor moderate-income geographies or to lowor moderate-income individuals;
B To the extent changes have been made, its record of opening and closing branches has adversely affected the accessibility of its delivery systems, particularly in lowor moderate-income geographies or to lowor moderate-income individuals;
C Its services including, where appropriate, business hours vary in a way that inconveniences its assessment areas, particularly lowor moderate-income geographies or lowor moderate-income individuals; and D It provides a limited level of community development services.
v Substantial noncompliance. The appropriate Federal banking agency rates a savings associations service performance as being in substantial noncompliance if, in general, the savings association demonstrates:
A Its service delivery systems are unreasonably inaccessible to significant portions of its assessment areas, particularly to lowor moderate-income geographies or to lowor moderate-income individuals;
B To the extent changes have been made, its record of opening and closing branches has significantly adversely affected the accessibility of its delivery systems, particularly in lowor moderate-income geographies or to lowor moderate-income individuals;
C Its services including, where appropriate, business hours vary in a way that significantly inconveniences its assessment areas, particularly lowor moderate-income geographies or lowor moderate-income individuals; and D It provides few, if any, community development services.
c Wholesale or limited purpose savings associations. The appropriate Federal banking agency assigns each wholesale or limited purpose savings associations community development performance one of the four following ratings.
1 Outstanding. The appropriate Federal banking agency rates a wholesale or limited
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purpose savings associations community development performance outstanding if, in general, it demonstrates:
i A high level of community development loans, community development services, or qualified investments, particularly investments that are not routinely provided by private investors;
ii Extensive use of innovative or complex qualified investments, community development loans, or community development services; and iii Excellent responsiveness to credit and community development needs in its assessment areas.
2 Satisfactory. The appropriate Federal banking agency rates a wholesale or limited purpose savings associations community development performance satisfactory if, in general, it demonstrates:
i An adequate level of community development loans, community development services, or qualified investments, particularly investments that are not routinely provided by private investors;
ii Occasional use of innovative or complex qualified investments, community development loans, or community development services; and iii Adequate responsiveness to credit and community development needs in its assessment areas.
3 Needs to improve. The appropriate Federal banking agency rates a wholesale or limited purpose savings associations community development performance as needs to improve if, in general, it demonstrates:
i A poor level of community development loans, community development services, or qualified investments, particularly investments that are not routinely provided by private investors;
ii Rare use of innovative or complex qualified investments, community development loans, or community development services; and iii Poor responsiveness to credit and community development needs in its assessment areas.
4 Substantial noncompliance. The appropriate Federal banking agency rates a wholesale or limited purpose savings associations community development performance in substantial noncompliance if, in general, it demonstrates:
i Few, if any, community development loans, community development services, or qualified investments, particularly investments that are not routinely provided by private investors;
ii No use of innovative or complex qualified investments, community development loans, or community development services; and iii Very poor responsiveness to credit and community development needs in its assessment areas.
d Savings associations evaluated under the small savings association performance standard1Lending test ratings. i Eligibility for a satisfactory lending test rating. The appropriate Federal banking agency rates a small savings associations lending performance satisfactory if, in general, the savings association demonstrates:
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