On December 16, 2021, the Federal Reserve Board and the Federal Deposit Insurance Corporation today announced the 2022 updated asset-size thresholds used to define “small bank” and “intermediate small bank” under their Community Reinvestment Act (CRA) regulations.
As a result of the 4.73 percent increase in the CPI-W for the period ending in November 2021, the definitions of small and intermediate small banks for CRA examinations will change as follows:
- Small bank means an institution that, as of December 31 of either of the prior two calendar years, had assets of less than $1.384 billion.
- Intermediate small bank means a small institution with assets of at least $346 million as of December 31 of both of the prior two calendar years and less than $1.384 billion as of December 31 of either of the prior two calendar years.
These asset-size thresholds are effective January 1, 2022.