New York Codes, Rules and Regulations
Title 3 - BANKING
Chapter I - GENERAL REGULATIONS OF THE SUPERINTENDENT
Part 76 - Compliance With Community Reinvestment Act Requirements
Section 76.5 - Community reinvestment act assessments; public disclosure
Current through Register Vol. 46, No. 12, March 20, 2024
(a) From time to time, as determined by the superintendent, the Banking Department will conduct community reinvestment evaluations of each banking institution to which this Part applies. To the extent feasible, such evaluations will occur with the same frequency as, and coincide with, CRA examinations conducted by a banking institution's primary Federal regulator. In general, the Banking Department will evaluate the CRA performance of a banking institution once every 24 to 36 months; except that banking institutions with total assets below $250 million and rated "satisfactory" or "outstanding" in their most recent CRA examination performed by the Banking Department generally will be examined once every 48 to 60 months, respectively. The assessment will be based upon information compiled by the Banking Department or obtained from other sources, including information obtained from other State and Federal banking regulators. This information will pertain to the factors set forth in section 28-b of the Banking Law and the performance tests and standards set forth in section 76.7 of this Part. The Banking Department assigns a rating for a banking institution assessed under the factors set forth in Banking Law, section 28-b and the tests set forth in section 76.7 of this Part. The lending, investment and service performance for each banking institution evaluated under section 76.7(a)(1) of this Part shall be assigned one of the five following ratings: outstanding, high satisfactory, low satisfactory, needs to improve or substantial noncompliance. A banking institution's performance need not fit each aspect of a particular rating profile in order to receive that rating, and exceptionally strong performance with respect to some aspects may compensate for weak performance in others. The banking institution's overall performance, however, must be consistent with safe and sound banking practices and generally with the appropriate rating profile. The Banking Department assessment shall form the basis of the biennial numerical CRA rating based on a 1-4 scoring system assigned to each such institution by the Banking Department. Specifically, such numerical scores shall represent performance assessments as follows:
-outstanding record of meeting community credit needs ("Outstanding" or "1");
-satisfactory record of meeting community credit needs ("Satisfactory" or "2");
-needs to improve record of meeting community credit needs ("Needs to Improve" or "3"); and
-substantial noncompliance in meeting community credit needs ("Substantial Noncompliance" or "4").
(b) Evidence of discriminatory or other illegal credit practices.
(c) The Banking Department will prepare a written summary of the results of such assessment. The CRA rating and the written summary will be made available to the public. In addition, each banking institution shall include a copy of such rating and the three most recent summaries in the banking institution's public file as required to be maintained by Federal CRA regulations.