Agencies Release List of Distressed and Underserved Nonmetropolitan Middle-Income Geographies
August 31, 2005
Circular No. 11728

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

The federal banking agencies have announced the availability of the list of distressed and underserved nonmetropolitan middle-income geographies in which bank revitalization or stabilization activities will receive Community Reinvestment Act (CRA) consideration as "community development" pursuant to the revised CRA rules issued by the agencies on August 2, 2005. The list is available on the Federal Financial Institutions Examination Council (FFIEC) website. OFFSITE

The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency will update the list annually, and will post updates on the FFIEC website by April 1 of each year.

"Distressed nonmetropolitan middle-income" geographies are those located in counties that meet one or more triggers that generally reflect the "distress criteria" used by the Community Development Financial Institutions Fund. The distress triggers are: (1) an unemployment rate of at least 1.5 times the national average; (2) a poverty rate of 20 percent or more; (3) a population loss of 10 percent or more between the previous and most recent decennial census, or a net migration loss of 5 percent or more over the five-year period preceding the most recent census.

Press release OFFSITE
List of distressed and underserved nonmetropolitan middle-income geographies OFFSITE PDF

Robert G. Gutierrez 
Examining Officer
Legal and Compliance Risk Department