§__.42 CRA Data Collection for Merging Institutions
§__.42 – 5 Q: When should merging institutions collect data? A5. Three scenarios of data collection responsibilities for the calendar year of a merger and subsequent data reporting responsibilities are described below. Two institutions are exempt from CRA collection and reporting requirements because of asset size. The institutions merge. No data collection is required for the year…
§__.42 CRA Data Collection Software for Small Institutions
§__.42 – 6 Q: Can small institutions get a copy of the data collection software even though they are not required to collect or report data? A6. Yes. Any institution that is interested in receiving a copy of the software may download it from the FFIEC Web site at https://www.ffiec.gov/cra. For assistance, institutions may send an e-mail…
§__.42 Wholesale and Limited Purpose CRA Data Collection Requirements
§__.42 – 7 Q: If a small institution is designated a wholesale or limited purpose institution, must it collect data that it would not otherwise be required to collect because it is a small institution? A7. No. However, small institutions that are designated as wholesale or limited purpose institutions must be prepared to identify those loans, investments,…
§__.42(a) CRA Data Collection on Commercial Loans
§__.42(a) – 1 Q: Must institutions collect and report data on all commercial loans of $1 million or less at origination? A1. No. Institutions that are not exempt from data collection and reporting are required to collect and report only those commercial loans that they capture in Call Report Schedule RC-C, Part II. Small business loans are…
§__.42(a) CRA Data Collection for Small Business Loans
§__.42(a) – 2 Q: For loans defined as small business loans, what informations would be collected and maintained? A2. Institutions that are not exempt from data collection and reporting are required to collect and maintain, in a standardized, machine-readable format, information on each small business loan originated or purchased for each calendar year: A unique number or…
§__.42(a) CRA Data Segregation for Small Farm Loans
§__.42(a) – 3 Q: Will farm loans need to be segregated from business loans? A3. Yes. Source: Interagency Questions & Answers Regarding Community Reinvestment | July 2016
§__.42(a) CRA Data Collection for Agricultural Loans
§__.42(a) – 4 Q: Should institutions collect and report data on all agricultural loans of $500,000 or less at origination? A4. Institutions are to report those farm loans that they capture in Call Report Schedule RC-C, Part II. Small farm loans are defined as those whose original amounts are $500,000 or less and were reported as either “Loans…
§__.42(a) CRA Data Collection for Small Business & Farm Loan Refinances & Renewals
§__.42(a) – 5 Q: Should institutions collect and report data about small business and small farm loans that are refinanced or renewed? A5. An institution should collect information about small business and small farm loans that it refinances or renews as loan originations. (A refinancing generally occurs when the existing loan obligation or note is satisfied and a new…
§__.42(a) CRA Data Collection on Fishing Industry Loans
§__.42(a) – 6 Q: Does a loan to the “fishing industry” come under the definition of small farm loan? A6. Yes. Instructions for Call Report Schedule RC-C, Part I include loans “made for the purpose of financing fisheries and forestries, including loans to commercial fishermen” as a component of the definition for “Loans to finance agricultural…
§__.42(a) CRA Data Reporting on Home Equity Loan with Home Improvement & Small Business Purposes
§__.42(a) – 7 Q: How should an institution report a home equity line of credit, part of which is for home improvement purposes and part of which is for small business purposes? A7. When an institution originates a home equity line of credit that is for both home improvement and small business purposes, the institution has the…