OCC Bulletin 2024-1 | January 8, 2024
State Small Business Credit Initiative 2.0: Frequently Asked Questions
To
Chief Executive Officers of All National Banks, Federal Savings Associations, and Federal Branches and Agencies; Department and Division Heads; All Examining Personnel; and Other Interested Parties
Summary
The Office of the Comptroller of the Currency (OCC) today published answers to frequently asked questions (FAQ) about the State Small Business Credit Initiative 2.0 (SSBCI) based on the facts and circumstances presented in the questions. These FAQs are not regulations and do not have the force and effect of law.
Note for Community Banks
These FAQs apply to community banks.1
Highlights
These FAQs address the following topics:
- Reporting on loans to businesses owned by socially and economically disadvantaged individuals.
- Regulatory treatment for loans using certain SSBCI-supported credit enhancements.
- Considerations for loans in Indian Country.
- Community Reinvestment Act considerations.
Further Information
Please contact David Black, Community Development Expert, OCC Community Affairs, at 202-649-6420.
Grovetta N. Gardineer
Senior Deputy Comptroller for Bank Supervision Policy