FDIC FAQs – When does a bank meet the small lender exemption?

Compliance > Lending > Flood > FAQs
Q:  When does a bank meet the small lender exemption?
 
A:    Institution may qualify for the small lender exemption if it had total assets of less than $1 billion as of December 31 of either of the two prior calendar years.
 
Examples:
 
1. Lender A has assets of $998 million on December 31, 2014 and $1.01 billion on December 31, 2015. Lender A may qualify for the exemption for 2016.
 
2.  Lender B has assets of $1.01 billion on December 31, 2014 and $1.02 billion on December 31, 2015. Lender B does not qualify for the exemption for 2016.
 
 
 
ADDITIONAL INFORMATION:
This Q&A was included in the FDIC’s Flood Insurance Videos, which were updated in 2016, which may be found here:   https://www.fdic.gov/news/news/financial/2016/fil16018.html
 
 

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