Related Organizations

Required Information for a Part 24 Submission

Both the after-the-fact notice and the investment proposal must include the following items (the bank may use the form CD-1 to satisfy this requirement):

• A description of the bank’s investment;

• The dollar amount of the investment;

• The percentage of the bank’s capital and surplus represented by the bank’s investment that is the subject of the after-the-fact notice or investment proposal;

• The percentage of the bank’s capital and surplus represented by the bank’s aggregate outstanding public welfare investments and commitments, including the investment proposal or the after-the-fact notice investment; and

• A statement from the bank certifying compliance with the public welfare requirements and investment limits of 12 CFR 24.

Each bank should maintain in its files information adequate to demonstrate that its investment meets the public welfare standards, including, when applicable, the criteria of the CRA regulation. The bank’s files should also substantiate that the bank is otherwise in compliance with the requirements of this part.

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