On August 14, 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 (the Agencies) released data on small business, small farm and community development lending reported by commercial banks and savings institutions pursuant to the Community Reinvestment Act (CRA). The CRA requires commercial banks and savings institutions with total assets of approximately $1 billion or more to collect and report data regarding these lending programs.
In 2008, 965 lenders reported data about originations and purchases of small business and small farm loans, a 3% decrease from the 998 lenders reporting data in 2007. According to the 2008 data, about 10.8 million small business loans (totaling $296 billion) and about 211,000 small farm loans (totaling $14.2 billion) were reported by the reporting banks as being originated or purchased in 2008. The data also provides information about the geographic concentrations of the reported loans.
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