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The Community Reinvestment Act (CRA, P.L. 95-128, 91 Stat. 1147, title VIII of the Housing and Community Development Act of 1977, 12 U.S.C. § 2901 et seq.) is a United States federal law designed to encourage commercial banks and savings associations to help meet the needs of borrowers in all segments of their communities, including low- and moderate-income neighborhoods.
(A) IN GENERAL.—If a foreign bank acquires a bank or a branch of a bank, in a State in which the foreign bank does not maintain a branch, and such acquired bank is, or is part of, a regulated financial institution (as defined in section 803 of the Community Reinvestment Act of 1977), the Community Reinvestment Act of 1977 shall continue to ...
1996 FED Commercial Bank Examination Manual [7] (Section 4090, Interest-Rate Risk, has been completely revised.) 1996 FED Bank Holding Company Supervision Manual [8] (section 2127) This had a minor update in 2010 discussing the 2010 interagency advisory on interest-rate risk management.
There should be an emphasis on low-income and moderate-income (LMI) census tracts and individuals. Insured depository institutions must display a CRA notice, and each branch must have a current CRA public file or access to it via the company's intranet, and must provide the information in person or by mail.
The bank examiner is expected to be knowledgeable of finance and accounting principles (particularly forensic accounting), as well as the relevant banking procedures and protocols. In some cases, an examiner will have worked in bank management positions in the past. In the United States, it is a crime to obstruct a federal bank examination. [6]
FIRREA allowed bank holding companies to acquire thrifts. It established new regulations for real estate appraisals. In addition, the Act established Appraisal Subcommittee (ASC) within the Examination Council of the Federal Financial Institutions Examination Council. It also established new capital reserve requirements.
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Comprehensive Capital Analysis and Review (CCAR) is a United States regulatory framework introduced by the Federal Reserve in 2009 [1] to assess, regulate, and supervise large banks and financial institutions – collectively referred to in the framework as bank holding companies (BHCs).