On December 22, the Federal Reserve, the OCC, and the FDIC jointly announced the adjusted thresholds for asset-size used to define small and intermediate small banks and savings associations under the Community Reinvestment Act. Effective January 1, 2016, a small bank or savings association will be defined as an institution that, as of December 31 of either of the past two calendar years, had assets of less than $1.216 billion. An intermediate small bank or intermediate small savings association will be defined as an institution with at least $304 million and less than $1.216 billion in assets as of December 31 of either of the past two calendar years. The agencies published the annual adjustments in the Federal Register on December 29, 2015.