Table of Contents
What is included in a CRA performance evaluation?
What is included in a CRA performance evaluation? The CRA performance evaluation (PE) generally includes a description of the institution and its assessment area(s); its CRA rating; and the facts, data, and analyses supporting the rating.
Is CRA performance grade public?
Upon conclusion of such an examination, the supervisory agency must prepare a written evaluation of the institution’s CRA performance. This written evaluation is public information and can be obtained through the institution or its supervisory agency.
How many days must the CRA performance evaluation be included in the CRA Public File?
A copy of the public section of your bank’s most recent CRA performance evaluation. Your bank must place the copy in its public files within 30 business days after receiving it.
What are the 4 CRA ratings?
Lending Test Rating. All. Outstanding. High Satisfactory. Low Satisfactory. Needs to Improve. Substantial Noncompliance.
Who prepares the CRA performance evaluation?
The OCC
The OCC prepares a written performance evaluation of the bank’s CRA activities, including the CRA rating, at the end of each CRA evaluation. The written evaluation is available to the public.
How often are CRA evaluations performed?
about every 3 years
Depository institutions undergo CRA exams about every 3 years, depending on past performance. Every business quarter, the Federal Deposit Insurance Corporation (FDIC) releases the CRA Examination Schedule by region and lists the information about each bank that is being examined.
What is a CRA report?
The CRA reports provide information regarding small business, small farm, and community development lending activity. The reports can be used along with the FFIEC census data for data analysis purposes. These online reports are for viewing only and cannot be downloaded into other computer applications.
Which CRA test is weighted more heavily?
*The lending test is weighted more heavily than the investment and service tests when arriving at an overall rating.
What are CRA examinations?
Examiners conduct a separate review under the Community Reinvestment Act (CRA) to determine how well a bank is meeting the credit needs of its entire community — in particular, the credit needs of low- and moderate-income individuals — without compromising the safety and soundness of the bank’s operations.
What is CRA data?
CRA data are generally released by August of the year following the calendar year of the data. National Aggregates, 1996-2020. These reports are a nationwide summation of the CRA data. They indicate the number and dollar amounts of lending, cross-tabulated by loan, applicant, and geographic characteristics.
What is purpose of the CRA notice?
Each office or branch of a bank must post a notice in its lobby that describes the purpose of the Community Reinvestment Act. This notice also explains that the public has a right to review a bank’s CRA file and to make written comments about the bank’s CRA performance.
What is a consequence of a poor CRA rating?
It effectively pauses the bank’s long-term strategy for growth by preventing the banks from opening new branches, merging with another bank or acquiring a bank. It also poses significant reputation risk to the banks since the CRA rating is public.
What qualifies for CRA credit?
A home mortgage loan, small loan to a business, small loan to a farm, or consumer loan is a qualifying activity if it is: A small loan to a farm located in a low- or moderate-income census tract. F-1 Small loan to a farm located in a low-income census tract to purchase farm equipment.
How do you qualify for CRA?
What Makes a Census Tract CRA Eligible?
- Low: tract median family income less than 50% of area median family income.
- Moderate: tract median family income greater than or equal to 50% and less than 80% of area median family income.
What are CRA reports?
What is reported for CRA?
CRA data reports are due annually on March 1. The CRA regulations generally require independent financial institutions with assets of $250 million or more to report annually data on small business, small farm, and community development lending.
What is CRA reporting?
What are CRA activities?
The Community Reinvestment Act (CRA) is a law intended to encourage depository institutions to help meet the credit needs of the communities in which they operate, including low- and moderate-income (LMI) neighborhoods, consistent with safe and sound banking operations.
How can I improve my CRA?
Banks can improve their CRA evaluation by volunteering their expertise in community projects such as financial literacy or serving on a loan committee of a local nonprofit lender.
- Develop new strategies and partnerships.
- Develop new strategies and partnerships.
- Develop new strategies and partnerships.
What CRA reports include?
It relates only to the collection, maintenance, and reporting of small-business and small-farm loan data and to the collection, maintenance, and reporting (as applicable) of other loan data (except data on home mortgage loans) that may be considered during CRA evaluations.
How to create a good performance evaluation?
Performance analysis. Every performance evaluation should include a section explaining how someone has met or failed company standards.
What are the criteria for performance evaluation?
– Generally exceeded goals. (Essential and any stretch goals) – Performance consistently exceeded expectations in key areas of responsibility, and the quality of work was generally excellent – Exhibited model behavior that reflected the values of the organization
What are the CRA ratings?
Overall rating
Who reports CRA data?
CRA Analytics Data Tables (.zip)