Community Reinvestment Act
May 28, 1999
Circular No. 11156

Interagency Questions and Answers & Comments Requested

To all State Member Banks and Others Concerned in the Second Federal Reserve District:
The following is from a statement by the FFIEC (Federal Financial Institutions Examination Council):

The FFIEC has announced the release of Interagency Community Reinvestment Act Questions and Answers. The document was published in the Federal Register of May 3, 1999, and is also available on the FFIEC's web site.

The Consumer Compliance Task Force of the FFIEC (Task Force) published the CRA Questions and Answers to respond to frequently asked questions about community reinvestment. The document contains informal staff guidance for agency personnel, financial institutions and the public. The new version supplements and amends the Questions and Answers published by the FFIEC in 1997 [see this Bank's Circular No. 10993].

The Task Force is also proposing three new or revised questions and answers. The FFIEC invites public comment on any of the proposed or revised questions and answers, as well as other community reinvestment issues not addressed in the document. Questions and comments should be sent directly to the FFIEC, as indicated in the document.

The following pages is the text of the Q and A document, as published in the Federal Register, is available as a PDF file (pdf - 229kb). Comments should be sent, by July 2, 1999, to the FFIEC, as specified in the document.