Community Development Test for Wholesale and Limited Purpose Designations
Note: The information and resources provided below are not inclusive of any updates outlined in the CRA Final Rule issued on October 24, 2023. For more information on the final rule and compliance dates, please see CRA Final Rule.
Under the CRA, a bank may submit a request to its primary federal regulator to be designated a wholesale bank or a limited purpose bank. Banks with these designations are evaluated for CRA performance under the community development test for wholesale limited purpose banks as follows:
- 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.
Please refer to the guidelines for requesting approval for wholesale or limited purpose designations (PDF).
The following banks are designated as Wholesale Banks by the Federal Reserve:
Wholesale Banks
| Bank name (RSSD ID Number) | Bank location | Effective date | Reserve Bank |
|---|---|---|---|
| Deutsche Bank Trust Company Americas (#214807) | New York, New York | August 18, 1997 | New York |
| Mizuho Corporate Bank - USA (#229913) | New York, New York | April 10, 1997 | New York |
| State Street Bank and Trust Company (#35301) | Boston, Massachusetts | May 8, 1996 | Boston |
| The Bank of New York Mellon (#541101) | New York, New York | October 23, 2006 | New York |
| The Northern Trust Company (#210434) | Chicago, Illinois | October 31, 2012 | Chicago |
The following banks are designated as Limited Purpose Banks by the Federal Reserve:
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 |
Learn more about wholesale & limited purpose designations by the other agencies: