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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
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 (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.
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