| Subject: |
Community Reinvestment Act |
|
| Description:
|
List of Distressed or Underserved Nonmetropolitan Middle-Income Geographies |
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Date: June 13, 2007 |
| TO: |
Chief Executive Officers and
Compliance Officers of All National Banks, Department and Division Heads, and
All Examining Personnel
|
The Office of the Comptroller of the
Currency, along with the Board of Governors of the Federal Reserve
System, the Federal Deposit Insurance Corporation, and the Office of Thrift Supervision, recently announced the availability of the 2007 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 2007 list incorporates a one-year lag period for geographies that were designated as distressed or underserved in 2006, but were not designated as such in the 2007 release. Geographies subject to the one-year lag period are eligible to receive consideration for community development activities for 12 months following publication of the 2007 list.
Both the 2007 and the 2006 lists are on the Web site of the Federal Financial Institutions Examination Council (FFIEC), along with the data source information used to generate the list of distressed or underserved geographies.
“Distressed nonmetropolitan middle-income geographies” and
“underserved nonmetropolitan middle-income geographies” are defined
in CRA regulations. The criteria used to designate these areas also
are available on the FFIEC Web site at
[http://www.ffiec.gov/cra/pdf/sourcelist2007.pdf].
For more information, please contact your supervisory
office or the Compliance Policy Department at (202) 874-4428.
/signed/
Ann F. Jaedicke
Deputy Comptroller for Compliance Policy
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| Attachment - | List |
| | http://www.ffiec.gov/cra/pdf/2007distressedorunderservedtracts_508.pdf |
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