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Financial Institution Letters


Community Reinvestment Act
FIL-3-96
January 11, 1996
TO: CHIEF EXECUTIVE OFFICER AND
COMPLIANCE OFFICER

SUBJECT: Designations as Wholesale or Limited Purpose
Institutions; Submissions of Strategic Plans

The recently revised Community Reinvestment Act (CRA) regulations include provisions allowing an institution with unique or narrow business strategies to be designated as a wholesale or limited purpose institution subject to specially tailored CRA performance criteria. Any institution also can elect to be evaluated on the basis of a CRA "strategic plan" developed by the institution with input from the community. To exercise these options, however, an institution must obtain approval from its appropriate federal regulator. Attached are procedures, developed on an interagency basis, that institutions must follow in submitting these requests.

All requests from FDIC-supervised institutions should be submitted in writing to their Division of Compliance and Consumer Affairs (DCA) regional office. DCA regional office staff also are available to answer any questions about these options or the approval process. A list of regional offices is attached.

Paul L. Sachtleben
Director

Attachment:

Regional Offices

PDF Format (26 kb, PDF help or hard copy), HTML Format

Distribution: FDIC-Supervised Banks (Commercial and Savings)

Last Updated 01/25/2006 communications@fdic.gov