Interagency Q&A .42(c)(2) – 2: Must an institution collect data on loan commitments and letters of credit?

Compliance > Regulation BB - CRA
Q:  § __.42(c)(2) – 2: Must an institution collect data on loan commitments and letters of credit?
 
A:  No.  Institutions are not required to collect data on loan commitments and letters of credit.  Institutions may, however, provide for examiner consideration information on letters of credit and commitments.
 
 
 
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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