N.Y. Comp. Codes R. & Regs. tit. 3 § 76.7

Current through Register Vol. 46, No. 53, December 31, 2024

Section 76.7 - Performance tests and standards

(a) Performance tests and standards. The Banking Department shall assess the CRA performance of banking institutions in an evaluation as set forth below:

(1) Lending, investment and service tests. The Banking Department applies the lending, investment and service tests, as provided in sections 76.8, 76.9 and 76.10 of this Part, in evaluating the performance of a banking institution, except as provided in paragraphs (2), (3) and (4) of this subdivision.

(2) Community development test for wholesale or limited purpose banking institutions. The Banking Department applies the community development test for a wholesale or limited purpose banking institution, as provided in section 76.11 of this Part, except as provided in paragraph (4) of this subdivision.

(3) Small banking institution performance standards. The Banking Department applies the small banking institution performance standards, as provided in section 76.12 of this Part, in evaluating the performance of a small banking institution or a banking institution that was a small banking institution during the prior calendar year, unless the banking institution elects to be assessed as provided in paragraph (1), (2) or (4) of this subdivision. The banking institution may elect to be assessed as provided in paragraph (1) of this subdivision only if it collects and reports the Federal CRA data required for other banking institutions which are assessed pursuant to paragraph (1) of this subdivision.

(4) Strategic plan. The Banking Department evaluates the performance of a banking institution under a strategic plan if the banking institution submits, and the Banking Department approves, a strategic plan as provided in section 76.13 of this Part.

(b) Performance context. The Banking Department will apply the tests and standards in subdivision (a) of this section and may also consider whether to approve a proposed strategic plan in the context of:

(1) demographic data including housing data and any other relevant data pertaining to a banking institution's assessment area(s);

(2) the performance of all, including similarly situated, lenders in the banking institution's assessment area(s);

(3) lending, investment and service opportunities in the banking institution's assessment area(s);

(4) the banking institution's product offerings and business strategy;

(5) institutional capacity and constraints;

(6) the banking institution's past performance;

(7) the banking institution's public file as required to be maintained by Federal CRA regulations;

(8) the banking institution's market share in its assessment area;

(9) community input; and

(10) any other information deemed relevant by the Department.

N.Y. Comp. Codes R. & Regs. Tit. 3 § 76.7

Amended New York State Register February 8, 2023/Volume XLV, Issue 06, eff. 2/8/2023