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WASHINGTON— The Office of the Comptroller of the Currency (OCC) today announced the availability of the 2021 list of bank type determinations, the 2021 list of distressed and underserved areas, and the banking industry median hourly compensation value. These two lists and the determined compensation value apply only to national banks, federal and state savings associations, and federal branches of foreign banks that are subject to the OCC’s regulations under Community Reinvestment Act (CRA) published in the Federal Register on June 5, 2020  (June 2020 rule).

The list of bank type determinations identifies banks based on asset size or business model as either small bank, intermediate bank, wholesale bank, limited purpose bank, or a bank subject to the June 2020 rule’s general performance standards (GPS). A bank’s type generally determines the performance standards and related examination procedures used to evaluate that bank’s CRA performance.

The list of bank type determinations identifies banks based on asset size or business model as either small bank, intermediate bank, wholesale bank, limited purpose bank, or a bank subject to the June 2020 rule’s general performance standards (GPS). A bank’s type generally determines the performance standards and related examination procedures used to evaluate that bank’s CRA performance.

The list of distressed and underserved areas identifies middle-income census tracts where qualifying bank activities are eligible to receive CRA consideration under the June 2020 rule’s community development definition. The designations continue to reflect local economic conditions, including unemployment, poverty, and population changes.

The banking industry median hourly compensation value equals total salaries and benefits divided by full-time equivalent employees, based on aggregate Call Report data for September 2019 through June 2020. This compensation value is used for determining the dollar value of a community development (CD) service in evaluating CRA performance for activities conducted during 2021.

The criteria for determining bank type, designating distressed and underserved areas and calculating the banking industry median hourly compensation value will be made available on the OCC website.

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