Section 46.23 - Investment Test(1)Scope of Test. The investment test evaluates an institution's record of helping to meet the credit needs of its assessment area(s) through qualified investments that benefit its assessment area(s) or a broader statewide or regional area that includes the institution's assessment area(s). A credit union will not be evaluated under the investment test except as provided under 209 CMR 46.61(6)(c).(2)Exclusion. Activities considered under the lending or service tests may not be considered under the investment test.(3)Affiliate Investment. At an institution's option, the Commissioner will consider, in its assessment of an institution's investment performance, a qualified investment made by an affiliate of the institution, if the qualified investment is not claimed by any other institution.(4)Disposition of Branch Premises. Donating, selling on favorable terms, or making available on a rent-free basis a branch of the institution that is located in a predominantly minority neighborhood to a minority depository institution or women's depository institution (as defined in 12 U.S.C. 2907(b)) will be considered as a qualified investment.(5)Performance Criteria. The Commissioner evaluates the investment performance of an institution pursuant to the following criteria: (a) the dollar amount of qualified investments;(b) the innovativeness or complexity of qualified investments;(c) the responsiveness of qualified investments to credit and community development needs(d) the degree to which the qualified investments assist existing low- and moderate-income residents to be able to remain in affordable housing in their neighborhoods; and(d) the degree to which the qualified investments are not routinely provided by private investors.(6)Investment Performance Rating. The Commissioner rates an institution's investment performance as provided in 209 CMR 46.61.Amended by Mass Register Issue 1319, eff. 8/12/2016.