(a) Applicability dates.
(1) In general. Except as provided in paragraphs (a)(2), (b), and (d) of this section,
this part is applicable, beginning on April 1, 2024.
(2) Specific
applicability dates. The following sections are applicable as
follows:
(i) On January 1, 2026, sections 228.12
through 228.15, 228.17 through 228.30, and 228.42(a); the data collection
and maintenance requirements in section 228.42(c) through (f); and
appendices A through F to this part become applicable.
(ii) On January 1, 2027,
section 228.42(b) and (g) through (i) and the reporting requirements
in section 228.42(c) through (f) become applicable.
(iii) Rules during transition period. Prior to the applicability dates in paragraphs (a)(2)(i) and (ii)
of this section, banks must comply with the relevant provisions of
this part in effect on March 31, 2024, as set forth in appendix G
to this part. The relevant provisions set forth in appendix G to this
part are applicable to CRA performance evaluations pursuant to 12
U.S.C. 2903(a)(1) that assess activities that a bank conducted prior
to the dates set forth in paragraphs (a)(2)(i) and (ii) of this section,
as applicable, except as provided in paragraphs (c) and (d) of this
section.
(b) HMDA data disclosures. The Board will publish the data pursuant to section 228.42(j) beginning
January 1, 2027.
(c) Consideration of bank
activities.
(1) In assessing a bank’s CRA performance,
the Board will consider any loan, investment, service, or product
that was eligible for CRA consideration at the time the bank conducted
the activity.
(2) Notwithstanding
paragraph (c)(1) of this section, in assessing a bank’s CRA
performance, the Board will consider any loan or investment that was
eligible for CRA consideration at the time that the bank entered into
a legally binding commitment to make the loan or investment.
(d) Strategic plans.
(1) New and replaced
strategic plans. The CRA regulatory requirements in effect on
March 31, 2024, as set forth in appendix G to this part, apply to
any new strategic plan, including a plan that replaces an expired
strategic plan, submitted to the Board for approval on or after April
1, 2024, but before November 1, 2025, and that the agency has determined
is a complete plan consistent with the requirements under 12 CFR 228.27
in effect on March 31, 2024, as set forth in appendix G to this part.
These strategic plans remain in effect until the expiration date of
the plan. The Board will not accept any strategic plan submitted on
or after November 1, 2025, and before January 1, 2026.
(2) Existing strategic plans. A strategic plan in effect as of April
1, 2024, remains in effect until the expiration date of the plan.
(e) First evaluation under
this part on or after February 1, 2024. In its first performance
evaluation under this part on or after February 1, 2024, a large bank
that has a total of 10 or more facility-based assessment areas in
any state or multistate MSA, or nationwide, as applicable, and that
was a bank subject to evaluation under this part or 12 CFR part 25
or 345 prior to February 1, 2024, may not receive a rating of “Satisfactory”
or “Outstanding” in that state or multistate MSA, or for
the institution, unless the bank received an overall facility-based
assessment area conclusion, calculated as described in paragraph g.2.ii
of appendix D to this part, of at least “Low Satisfactory”
in 60 percent or more of the total number of its facility-based assessment
areas in that state or multistate MSA, or nationwide, as applicable.
