Page:United States Statutes at Large Volume 113 Part 2.djvu/449

 PUBLIC LAW 106-102—NOV. 12, 1999 113 STAT. 1469 " (4) COORDINATION, CONSISTENCY, AND COMPARABILITY. — In carrying out paragraph (1), each appropriate Federal banking agency shall consult and coordinate with the other such agencies for the purposes of assuring, to the extent possible, that the regulations prescribed by each such agency are consistent and comparable with the regulations prescribed by the other such agencies.". SEC. 712. SMALL BANK REGULATORY RELIEF. The Community Reinvestment Act of 1977 (12 U.S.C. 2901 et seq.) is amended by adding at the end the following new section: "SEC. 809. SMALL BANK REGULATORY RELIEF. 12 USC 2908. "(a) IN GENERAL. —Except as provided in subsections (b) and (c), any regulated financial institution with aggregate assets of not more than $250,000,000 shall be subject to routine examination under this title— "(1) not more than once every 60 months for an institution that has achieved a rating of 'outstanding record of meeting community credit needs' at its most recent examination under section 804; "(2) not more than once every 48 months for an institution that has received a rating of 'satisfactory record of meeting community credit needs' at its most recent examination under section 804; and "(3) as deemed necessary by the appropriate Federal financial supervisory agency, for an institution that has received a rating of less than 'satisfactory record of meeting community credit needs' at its most recent examination under section 804. " (b) No EXCEPTION FROM CRA EXAMINATIONS IN CONNECTION WITH APPLICATIONS FOR DEPOSIT FACILITIES.—A regulated financial institution described in subsection (a) shall remain subject to examination under this title in connection with an application for a deposit facility. "(c) DISCRETION.— ^A regulated financial institution described in subsection (a) may be subject to more frequent or less frequent examinations for reasonable cause under such circumstances as may be determined by the appropriate Federal financial supervisory agency.". SEC. 713. FEDERAL RESERVE BOARD STUDY OF CRA LENDING. The Board of Governors of the Federal Reserve System shall Reports. conduct a comprehensive study, in consultation with the Chairman Deadline, and Ranking Member of the Committee on Banking and Financial Services of the House of Representatives and the Chairman and Ranking Member of the Committee on Banking, Housing, and Urban Affairs of the Senate, of the Community Reinvestment Act of 1977, which shall focus on— (1) the default rates; — (2) the delinquency rates; and (3) the profitability; of loans made in conformity with such Act, and report on the study to such Committees not later than March 15, 2000. Such Public report and supporting data shall also be made available by the information. Board of Governors of the Federal Reserve System to the public. 69-194 -01- 15: QL 3 Part 2

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