- Effective Federal Funds Rate
- Overnight Bank Funding Rate
- Secured Overnight Financing Rate
- SOFR Averages & Index
- Broad General Collateral Rate
- Tri-Party General Collateral Rate
- Treasury Securities
- Agency Mortgage-Backed Securities
- Repos
- Reverse Repos
- Securities Lending
- Central Bank Liquidity Swaps
- Monetary Policy Implementation
- Treasury Securities
- Agency Mortgage-Backed Securities
- Agency Commercial Mortgage-Backed Securities
- Agency Debt Securities
- Repos & Reverse Repos
- Securities Lending
- Statements & Operating Policies
- Market Intelligence
- Survey of Primary Dealers
- Survey of Market Participants
- Primary Dealers
- Standing Repo Facility Counterparties
- Reverse Repo Counterparties
- Foreign Exchange Counterparties
- Foreign Reserves Management Counterparties
- Economic Research
- U.S. Economy
- Consumer Expectations & Behavior
- Survey of Consumer Expectations
- Household Debt & Credit Report
- Home Price Changes
- Equitable Growth Indicators
- Multivariate Core Trend Inflation
- New York Fed DSGE Model
- New York Fed Staff Nowcast
- R-star: Natural Rate of Interest
- Labor Market for Recent College Graduates
- Corporate Bond Market Distress Index
- Outlook-at-Risk
- Treasury Term Premia
- Yield Curve as a Leading Indicator
- Banking Research Data Sets
- Quarterly Trends for Consolidated U.S. Banking Organizations
- Empire State Manufacturing Survey
- Business Leaders Survey
- Regional Business Surveys: Special Topics
- Regional Employment Trends
- Early Benchmarked Employment Data
- INTERNATIONAL ECONOMY
- Global Supply Chain Pressure Index
- Staff Economists
- Visiting Scholars
- Resident Scholars
- Liberty Street Economics
- Staff Reports
- Economic Policy Review
- Applied Macroeconomics
& Econometrics Center (AMEC) - Center for Microeconomic Data (CMD)
- Economic Indicators Calendar
- Reporting Forms
- Correspondence
- Community Reinvestment Act Exams
- Frauds and Scams
- Services For Financial Institutions
- Payment Services
- Payment System Oversight
- International Services, Seminars & Training
- Tri-Party Repo Infrastructure Reform
- Managing Foreign Exchange
- Money Market Funds
- Over-The-Counter Derivatives
- Fed Communities
- Fed Listens
- Fed Small Business
- Workforce Development
- High School Fed Challenge
- College Fed Challenge
- Teacher Professional Development
- Classroom Visits
- Museum & Learning Center Visits
- Educational Comic Books
- Economist Spotlight Series
- Lesson Plans and Resources
- Video: What Is the Community Reinvestment Act?
- CRA Performance Context: Why It Is Important for Community Development ad How to Improve It
- Understanding Community Development Needs Through the CRA Performance Context
- Community Development Data Guidebook
- Video: The Small Bank and Intermediate Small Bank CRA Examination
- Federal Financial Institution Examination Council (FFIEC) Explanation of the Community Reinvestment Act Asset-Size Threshold Change
- Interagency Questions and Answers Regarding Community Reinvestment
- FFIEC Median Family Income Reports
- Video: What Is the Community Reinvestment Act?
- Healthy Communities: A Framework for Meeting CRA Obligations
- The institution's CRA rating
- A description of the financial institution
- A description of the financial institution's assessment area
- Conclusions regarding the financial institution's CRA performance, including the facts, data and analyses that were used to form such conclusions
- Interagency Questions and Answers Regarding Community Reinvestment
- Interagency Interpretive Letters About CRA Regulations
- Closing the Digital Divide: A Framework for Meeting CRA Obligations
- The Community Reinvestment Act, Bank Reinvestment, and the Opportunity of Equitable Economic Development in New York City
- Small Business Investment Companies: Investment Option for Banks
- Engaging Workforce Development: A Framework for Meeting CRA Obligations
- How Banks Can Support Workforce Development
- Interagency Questions and Answers Regarding Community Reinvestment
- Interagency Interpretive Letters About CRA Regulations
- Beyond CRA: Meaningful Collaborations between Financial Institutions and Workforce Entities
- Interagency Questions and Answers Regarding Community Reinvestment
- Interagency Interpretive Letters About CRA Regulations
- Leveraging Financial Education to Improve the Impact of Workforce Innovation and Opportunity Act (WIOA)
- Federal Deposit Insurance Corporation
- Federal Reserve System
- Office of the Comptroller of the Currency
As part of our core mission, we supervise and regulate financial institutions in the Second District. Our primary objective is to maintain a safe and competitive U.S. and global banking system.
The Federal Reserve Bank of New York works to promote sound and well-functioning financial systems and markets through its provision of industry and payment services, advancement of infrastructure reform in key markets and training and educational support to international institutions.
Community Development Fed System InitiativesWe are connecting emerging solutions with funding in three areas—health, household financial stability, and climate—to improve life for underserved communities. Learn more by reading our strategy.
The Economic Inequality & Equitable Growth hub is a collection of research, analysis and convenings to help better understand economic inequality.
The Governance & Culture Reform hub is designed to foster discussion about corporate governance and the reform of culture and behavior in the financial services industry.
The Community Reinvestment Act Decoded
We answer your questions about the act itself, which community development programs meet its requirements and how to participate if you're in the Second District.
Community Reinvestment Act 101 What is the Community Reinvestment Act?The Community Reinvestment Act (CRA) was enacted to encourage banks to meet the credit needs of the neighborhoods in which they operate, including low- and moderate-income (LMI) communities. The CRA was enacted by Congress in 1977 (12 U.S.C. 2901) and is implemented by Regulation BB (12 CFR 228). The regulation was substantially revised in May 1995 and in August 2005.
Related Resource Who is responsible for CRA compliance?The Federal Reserve System (FRS), the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC) evaluate how banks are fulfilling the objectives of the CRA.
Related Resource What tests do examiners perform to evaluate banks regarding the CRA?Examiners conduct lending, investment and service tests to evaluate banks’ performance in their respective assessment areas.
Related Resource What is an assessment area?An assessment area is determined based on where banks have branches and deposit-taking ATMs or surrounding geographies in which they have originated or purchased loans. All evaluations are customized to reflect the characteristics and asset size of depository institutions.
Related ResourcesIn order to receive credit under the CRA, loans, investments and services made by banks must have a primary purpose that generally improves the circumstances for low- and moderate-income families or individuals as well as stabilizes and/or revitalizes their neighborhoods.
Related Resource Do all banks have the same CRA responsibilities?Banks’ responsibilities regarding the CRA depend on their asset size. CRA categorizes banks as small, intermediate-small and large. The CRA also distinguishes limited-purpose and wholesale institutions. The Federal Financial Institution Examination Council (FFIEC) explains asset-size thresholds.
Related ResourcesCRA classifies as low-income those geographies having a median family income of less than 50 percent of the area median income, and moderate-income those geographies having a median family income of at least 50 percent and less than 80 percent of the area median income. The Federal Financial Institution Examination Council (FFIEC) publishes annual reports on median family income.
Related ResourcesAfter conducting assessments of banks’ CRA activities, studying factors such as local demographic and economic indicators and talking to community contacts, examiners issue performance ratings. Banks can receive the following ratings: Outstanding, Satisfactory, Needs to Improve and Substantial Noncompliance.
Related ResourcesThe ratings are considered when banks request to merge with other financial institutions or plan to expand to other locations. The ratings and overall performance evaluations are made available to the public.
Related Resource What is a public evaluation?Upon conclusion of CRA examinations, examiners must prepare a written evaluation of the institution's record of meeting the credit needs of its assessment area. This written evaluation is public information and can be obtained through the institution or its supervisory agency. While the content of the Public Evaluation might vary depending on the nature of the institution examined and the assessment method used, the public portion of the evaluation generally contains the following information:
Activities that are considered to support community development according to the CRA include: investments in community services such as affordable housing and child care, revitalization of distressed geographies or designated disaster areas, and promoting economic development by providing financing to small businesses or farms. The Interagency Questions and Answers Regarding Community Reinvestment provides the latest guidance on how the regulation is applied in the field.
Related ResourcesThe regulation also includes examples of initiatives that promote permanent job creation, retention and improvement. Regulators have added to the definition of community development activities those that incorporate requirements for creating or improving access to workforce development and job training programs for low- and moderate-income or unemployed individuals.
Related ResourcesBanks may meet the criteria for CRA consideration in the lending, investment and services tests for offering financial inclusion programs. Activities that receive consideration include educational programs for low- and moderate-income families or loans and investments that incorporate a financial capability component.
Related ResourcesThe public is encouraged to submit comments on how banks are meeting the credit needs of their communities. These comments are taken into consideration during the bank’s next CRA examination.
How can you comment on banks’ CRA performance?Submit comments on the following websites:
For banks supervised by the New York Fed, submit comments here.
How can you learn about banks’ CRA performance?A copy of the public section of the most recent CRA performance evaluation must be placed in a bank's public file. The public is entitled to request a copy in any branch. For banks supervised by the New York Fed, use this tool.
Where can you find out what a bank’s CRA ratings are?Visit the FFIEC Interagency CRA Rating Search tool. For banks supervised by the New York Fed, use this tool.
Have a Question?If you didn't find an answer to your question on the left, contact us.
- Consumer Expectations & Behavior