The federal bank regulatory agencies recently published new asset thresholds to define small and intermediate-sized banks and savings associations.
Under the Community Reinvestment Act, the asset thresholds are adjusted annually for small banks, small savings associations, intermediate small banks, and intermediate small savings associations. The asset adjustments are based on the change in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) for each 12-month period ending in November. Small and intermediate institutions are not subject to the same reporting requirements as large institutions.
Due to a 0.84 percent increase in the CPI-W, the most recent adjustment means a small bank or savings association is one that had less than $1.226 billion in assets at the end of either of the prior two years. Intermediate small banks or savings associations are those with assets of at least $307 million, but less than $1.226 billion, on December 31 of either of the prior two years.
The new asset-size thresholds are effective after publication in the Federal Register.
The federal bank regulatory agencies include the Federal Deposit Insurance Corp., Federal Reserve, and Office of the Comptroller of the Currency.