June 25, 2021
Agencies release list of distressed or underserved nonmetropolitan middle-income geographies
- Board of Governors of the Federal Reserve System
- Federal Deposit Insurance Corporation
For release at 3:00 p.m. EDT
The Board of Governors of the Federal Reserve System & the Federal Deposit Insurance Corporation today announced the availability of the 2021 list of distressed or underserved nonmetropolitan middle-income geographies. These are geographic areas where revitalization or stabilization activities are eligible to receive Community Reinvestment Act (CRA) consideration under the community development definition.
Distressed nonmetropolitan middle-income geographies & underserved nonmetropolitan middle-income geographies are designated by the agencies in accordance with their CRA regulations. The criteria for designating these areas are available on the Federal Financial Institutions Examination Council (FFIEC) website (http://www.ffiec.gov/cra). The designations continue to reflect local economic conditions, including unemployment, poverty, & population changes.
As with past releases, the agencies apply a one-year lag period for geographies that were listed in 2020 but are no longer designated as distressed or underserved in the current release. Revitalization or stabilization activities in these geographies are eligible to receive CRA consideration under the community development definition for 12 months after publication of the current list.
The current & previous years’ lists can be found on the FFIEC website, along with information about the data sources used to generate those lists.
June 25, 2021
Source: Federal Reserves
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