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National Bank Public Welfare Investment Authority (12 CFR 24)

National banks may make investments that are primarily designed to promote the public welfare under the investment authority in 12 USC 24 (Eleventh) and the implementing regulation, 12 CFR 24. This authority allows banks to make investments if those investments primarily benefit low- and moderate-income individuals, low- and moderate-income areas, or other areas targeted by a government entity for redevelopment, or if the investments would receive consideration under 12 CFR 25.23 (the Community Reinvestment Act regulation) as a "qualified investment.”  Examples of public welfare investments include those supporting affordable housing and other real estate development, providing equity for start-up and small business expansion, and revitalizing or stabilizing a government-designated area.

If you need additional assistance, please call the Community Affairs Department at (202) 649-6420 or contact your District Community Affairs Officer.

Public Welfare Investments Authority and Regulation

Part 24 Procedures and Guides 

Common 12 CFR 24 Questions and Answers are listed here to provide guidance on national bank investments using the public welfare authority or other appropriate national bank authority.

Compendium of National Bank Public Welfare Investments (1997 to 2013)  is an alphabetic listing of investments made using the public welfare investment authority of 12 CFR 24.

Investments Requiring Prior OCC Approval Under 12 CFR 24 (PDF)
OCC publishes this list of investments which have been determined to be inappropriate for banks' self-certification.

National Bank Public Welfare Investment "At - A - Glance" Charts  lists national bank investments made under the 12 CFR 24 authority.

Community Development Investment Precedent Letters 
The OCC posts its precedent setting community development investment letters in the Electronic Interpretations and Actions section of OCC's Web site. These investments were made consistent with the 12 CFR 24 authority and reflect precedent setting actions that are consistent with the public welfare and other requirements of the regulation. Browse index of Community Development Precedent Letters.

Quick Reference Guide to Public Welfare Investments  (PDF) describes the guidelines for community development investments covered by 12 CFR 24. It gives an easy-to-follow list of requirements and examples of how banks make investments. 

Regulation W Special Analysis: Impact on Community Development Corporations (CDC)  (PDF) provides guidance for 12 CFR 24 investment proposals that: (1) present issues under sections 23A and 23B of the Federal Reserve Act, and (2) involve a holding company's transfer of an interest in its CDC to one or more subsidiary banks.


Related News and Issuances
Publish DateIdentifierTitle
04/18/2014  Alert 2014-20, Counterfeit Cashier's Checks of First Federal Savings and Loan, Lorain, Ohio
04/18/2014  OCC 2014-16, Community Reinvestment Act: Interagency Community Reinvestment Act Examination Procedures for Large Institutions
04/18/2014  NR 2014-60, OCC Enforcement Actions