To All Depository Institutions in the Second Federal Reserve District:
The following is from a statement by the Board of Governors of the Federal Reserve System;
The Federal Reserve Board has announced that the exemption threshold for depository institutions that are required to report data under the Home Mortgage Disclosure Act (HMDA) is increased to $30 million. Under the revision to the Board's staff commentary to Regulation C, depository institutions with assets totaling $30 million or less as of December 31, 1999 are not required to collect HMDA data in 2000.
The Board is required to adjust annually the asset-size exemption threshold for depository institutions based on the annual percentage change in the Consumer Price Index for Urban Wage Earners and Clerical Workers. The adjustment reflects changes for the twelve-month period ending in November 1999.
The Board's official notice (pdf - 121kb) in this matter, as published in the Federal Register of December 20, is available as a file. Questions may be directed, at this Bank, to Janice A. Oser, Examining Officer, Compliance Examinations Department.