On December 19, 2014, the Federal Reserve Board, FDIC and OCC issued an annual adjustment to the asset-size thresholds for small and intermediate small institutions required by the Community Reinvestment Act rules. Under these rules, small and intermediate financial institutions are examined using various procedures dependent on their asset-size classification. For the period ending November 2014, there was a 1.60 percent increase in the CPI index and the definitions of small and intermediate small institutions are altered as follows:

  • “Small bank” or “small savings association” are defined as institution that had assets of less than $1.221 billion as of December 31 of either of the prior two calendar years.
  • “Intermediate small bank” or “intermediate small savings association” are defined as a small institution with, as of December 31 of both of the prior two calendar years, assets of at least $305 million, and, as of December 31 of either of the prior two calendar years, assets less than $1.221 billion.

The adjustments are effective January 1, 2015 and will be published in the Federal Register. The agencies will also post a list of the current and historical asset-size thresholds on the Federal Financial Institutions Examination Council website (http://www.ffiec.gov/cra).

The Federal Reserve notice is available at:

http://www.federalreserve.gov/newsevents/press/bcreg/bcreg20141219a1.pdf