The Federal Reserve Board has published its annual notice of the asset-size exemption threshold for depository institutions under Regulation C, which implements the Home Mortgage Disclosure Act (HMDA).
The asset-size exemption for depository institutions will increase from $36 million to $37 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 2007. As a result, depository institutions with assets of $37 million or less as of December 31, 2007, are exempt from collecting data in 2008. An institution's exemption from collecting data in 2008 does not affect its responsibility to report the data it was required to collect in 2007.
The adjustment is effective January 1, 2008.
See the press release for full details.