Circular
HMDA Exemption Threshold Unchanged
December 24, 2002
Circular No. 11487

To All Depository Institutions and Others Concerned in the Second Federal Reserve District:

In a press release, the Federal Reserve Board announced that the asset-size exemption threshold for depository institutions under Regulation C (Home Mortgage Disclosures) would remain unchanged.

The asset-size exemption will remain at $32 million based on the annual percentage change in the Consumer Price Index for Urban Wage Earners and Clerical Workers for the twelve-month period ending in November 2002. As a result, depository institutions with assets of $32 million or less as of December 31, 2002 are exempt from data collection in 2003. An institution's exemption from collecting data in 2003 does not affect its responsibility to report the data it was required to collect in 2002.

The Board's notice is attached.

Questions on this matter may be directed at this Bank to Maryann Campbell, Senior Bank Examiner, Legal and Compliance Risk Department.