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2000 - Rules and Regulations
{{4-28-06 p.3077}}
PART 357—DETERMINATION OF ECONOMICALLY DEPRESSED REGIONS
AUTHORITY: 12 U.S.C. 1819, 1823(k)(5).
SOURCE: The provisions of this Part 357 appear at 55 Fed. Reg.
11161, March 27, 1990, except as otherwise noted.
§ 357.1 Economically depressed regions.
(a) Purpose. Section 13(k)(5) of the Federal Deposit
Insurance Act (12 U.S.C.
1823(k)(5)) provides that the FDIC shall consider proposals for
financial assistance for eligible insured savings associations before
grounds exist for appointment of a conservator or receiver for such
member. One of the criteria for eligibility is that an institution's
offices are located in an economically depressed region as determined
by the FDIC.
(b) Economically depressed regions. (1) For the
purpose of determining ``economically depressed regions'', the FDIC
will determine whether an institution qualifies as being located in an
``economically depressed region'' on a case-by-case basis. That
determination will be based on four criteria:
(i) High unemployment rates;
(ii) Significant declines in non-farm employment;
(iii) High delinquency rates of real estate assets at insured
depository institutions; and
(iv) Evidence indicating declining real estate values.
(2) In addition, the FDIC will also consider relevant information
from institutions regarding their geographic market area, as well as
information on whether that market is ``economically depressed''.
[Codified to 12 C.F.R. § 357.1]
[Section 357.1 amended at 63 Fed. Reg. 10295, March 3, 1998,
effective April 2, 1998; 71 Fed. Reg. 20527, April 21, 2006]
[The page following this is 3079.]
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