On July 26, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency and the Office of Thrift Supervision, through the Federal Financial Institutions Examination Council (the FFIEC), released data with respect to small business, small farm, and community development lending reported by certain commercial banks and savings institutions pursuant to the Community Reinvestment Act (CRA).
According to the Fact Sheet prepared by the FFIEC, “the small business and small farm lending data reported under the CRA regulations provide useful information about such lending...The CRA data include information on loans originated or purchased, but not on applications denied. The CRA data indicate whether a loan is extended to a borrower with annual revenues of $1 million or less, but they do not include demographic information about the applicant. The CRA data are aggregated into three loan-size categories and then reported at the census tract level, rather than loan-by-loan.”
Each reporting commercial bank and savings institution has prepared an FFIEC disclosure statement on the reported 2006 data which is available on the FFIEC’s website (www.ffiec.gov/cra).