§__.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 production and other loans to farmers.” Call Report Schedule RC-C, Part II, which serves as the basis of the definition for small business and small farm loans in the regulation, captures both “Loans to finance agricultural production and other loans to farmers” and “Loans secured by farmland.”

 

Source: Interagency Questions & Answers Regarding Community Reinvestment | July 2016

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