Annual Adjustment of Exemption Threshold for Reporting Data
To All Depository Institutions in the Second Federal Reserve District:
The following statement was released on December 20 by the Board of Governors of the Federal Reserve System:
The Federal Reserve Board today announced that the exemption threshold for depository institutions that are required to report data under the Home Mortgage Disclosure Act (HMDA) is increased to $31 million. Under the revision to the Board's staff commentary to Regulation C, depository institutions with assets totaling $31 million or less as of December 31, 2000, are not required to collect HMDA data in 2001. An institution's exemption from collecting data in 2001 does not affect its responsibility to report data it was required to collect in 2000.
The Board is required to adjust annually the asset-size exemption threshold for depository institutions based on the annual percentage change in the Consumer Price Index for Urban Wage Earners and Clerical Workers. The adjustment reflects changes for the twelve-month period ending in November 2000.
The official notice (pdf - 117kb) of this matter was published in the Federal Register of December 22. Questions may be directed, at this Bank, to Janice A. Oser, Bank Supervision Officer, Legal and Compliance Risk Department (212-720-8136).
