Circular
Banking Agencies Publish Proposed Revisions to CRA Regulations
March 16, 2005
Circular No. 11690

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

The federal banking agencies published a joint notice of proposed rulemaking in the Federal Register that would revise certain provisions in their regulations implementing the Community Reinvestment Act (CRA).

The revisions are intended to reduce regulatory burden on community banks while making CRA evaluations more effective in encouraging banks to meet community development needs.

Comments are requested by May 10, 2005. Details on how to file comments are available in the Federal Register notice.

Press release OFFSITE 
Federal Register notice OFFSITE pdf 

Contact:
Robert Gutierrez
Examining Officer
Legal and Compliance Risk Department
robert.gutierrez@ny.frb.org

William L. Rutledge
Executive Vice President