Interagency Q&A .27(f)(1) – 1: How should annual measurable goals be specified in a strategic plan?

Compliance > Regulation BB - CRA
Q:  § __.27(f)(1) – 1: How should annual measurable goals be specified in a strategic plan?
 
A:  Annual measurable goals (e.g., number of loans, dollar amount, geographic location of activity, and benefit to low- and moderate-income areas or individuals) must be stated with sufficient specificity to permit the public and the Agencies to quantify what performance will be expected.  However, institutions are provided flexibility in specifying goals.  For example, an institution may provide ranges of lending amounts in different categories of loans.  Measurable goals may also be linked to funding requirements of certain public programs or indexed to other external factors as long as these mechanisms provide a quantifiable standard.
 
 
 
This Interagency Q&A, and others, was released in July 2016.  The 2016 Q&As consolidates and supersedes all previously published “Interagency Questions and Answers Regarding Community Reinvestment,” and were noted as being effective immediately.  They may be found here:  http://www.ffiec.gov/cra/qnadoc.htm
 
 

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