On 12/16/21, the Federal Reserve Board and the FDIC issued the 2022 updated asset-size thresholds used to define "small bank" and "intermediate small bank" under their Community Reinvestment Act (CRA) regulations. On 12/30/2021, the OCC released a similar notice of asset-size threshold adjustments. Annual adjustments to these asset-size thresholds are based on the average change in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W), which is a measure of inflation.
According to the joint release, the definitions of small and intermediate small banks for CRA examinations were updated as a result of the 4.73 percent increase in the CPI-W for the period ending in November 2021. Changes to the asset-size thresholds, which will be effective on January 1, 2022, are as a follows:
Small bank means an institution that, as of December 31 of either of the prior two calendar years, had assets of less than $1.384 billion.
Intermediate small bank means a small institution with assets of at least $346 million as of December 31 of both of the prior two calendar years and less than $1.384 billion as of December 31 of either of the prior two calendar years.
See the joint release here.
See the OCC’s release here.