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Community Reinvestment Act (CRA)
Special Designations
Under the Community Reinvestment Act, a bank may submit a request to its primary federal regulator to be designated a wholesale bank or a limited purpose bank. Such banks are evaluated for performance under standards found at 12 CFR 228.25. The regulation offers the following definitions:
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Wholesale bank - A bank that is not in the business of extending home mortgage, small business, small farm, or consumer loans to retail customers and for which a designation as a wholesale bank is in effect.
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Limited purpose bank - A bank that offers only a narrow product line (such as credit card or motor vehicle loans) to a regional or broader market and for which a designation as a limited purpose bank is in effect.
The following banks have been designated as wholesale or limited purpose banks by the Federal Reserve:
Wholesale Banks
Bank name (RSSD ID Number)
Bank location
Effective date
Reserve Bank
State Street Bank and Trust Company (#35301)
Boston, Massachusetts
May 8, 1996
Boston
Mizuho Corporate Bank - USA (#229913)
New York, New York
April 10, 1997
New York
Deutsche Bank Trust Company Americas (#214807)
New York, New York
August 18, 1997
New York
BPD Bank (#66015)
New York, New York
February 5, 2004
New York
The Bank of New York Mellon (#541101)
New York, New York
October 23, 2006
New York
Goldman Sachs Bank USA (#2182786)
New York, New York
July 9, 2009
New York
Limited Purpose Banks
Bank name (RSSD ID Number)
Bank location
Effective date
Reserve Bank
Community Capital Bank of Virginia (#3626858)
Christiansburg, Virginia
June 16, 2010
Richmond
Marlin Business Bank (#3716852)
Salt Lake City, Utah
December 22, 2009
San Francisco
Under the Community Reinvestment Act, a bank may submit a request to its primary federal regulator to be designated a wholesale bank or a limited purpose bank. Such banks are evaluated for performance under standards found at 12 CFR 228.25. The regulation offers the following definitions:
- Wholesale bank - A bank that is not in the business of extending home mortgage, small business, small farm, or consumer loans to retail customers and for which a designation as a wholesale bank is in effect.
- Limited purpose bank - A bank that offers only a narrow product line (such as credit card or motor vehicle loans) to a regional or broader market and for which a designation as a limited purpose bank is in effect.
The following banks have been designated as wholesale or limited purpose banks by the Federal Reserve:
Wholesale Banks
| Bank name (RSSD ID Number) | Bank location | Effective date | Reserve Bank |
|---|---|---|---|
| State Street Bank and Trust Company (#35301) | Boston, Massachusetts | May 8, 1996 | Boston |
| Mizuho Corporate Bank - USA (#229913) | New York, New York | April 10, 1997 | New York |
| Deutsche Bank Trust Company Americas (#214807) | New York, New York | August 18, 1997 | New York |
| BPD Bank (#66015) | New York, New York | February 5, 2004 | New York |
| The Bank of New York Mellon (#541101) | New York, New York | October 23, 2006 | New York |
| Goldman Sachs Bank USA (#2182786) | New York, New York | July 9, 2009 | New York |
Limited Purpose Banks
| Bank name (RSSD ID Number) | Bank location | Effective date | Reserve Bank |
|---|---|---|---|
| Community Capital Bank of Virginia (#3626858) | Christiansburg, Virginia | June 16, 2010 | Richmond |
| Marlin Business Bank (#3716852) | Salt Lake City, Utah | December 22, 2009 | San Francisco |
Last update:
May 31, 2011
