Form CD-1 National Bank Community Development Investments

		CD-1 – National Bank Community Development (Part 24) Investments				For Official Use Only OMB Number 1557-0194
Comptroller of the Currency Administrator of National Banks
A national bank or national bank subsidiary may make an investment directly or indirectly under this part if the investment promotes the public welfare by benefiting primarily low- and moderate-income areas or individuals under the community development investment authority in 12 USC 24(Eleventh) and its implementing regulation, 12 CFR 24 (Part 24). Part 24 contains the OCC guidelines to determine whether an investment is designed to promote the public welfare by benefiting primarily low- and moderate-income areas or individuals and procedures that apply to those investments. National banks must submit the completed form to provide an after-the-fact notice or to request prior approval of a public welfare investment to the Community Affairs Department, Office of the Comptroller of the Currency, Washington, DC 20219. Please contact the Community Affairs Department at (202) 874-4930 or [email protected] for more information.
PLEASE PROVIDE THE FOLLOWING INFORMATION ABOUT THE INVESTING BANK.
Bank name:			Mailing address (street or P.O. box):
     			     
Bank charter number:			City, State, ZIP Code:
     			     
Telephone number:			Fax number:
     			     
E-mail address:			URL:
     			     
CONTACT FOR INFORMATION:
Name of bank contact responsible for form’s information:			Name of bank contact responsible for CD investment (if different):
     			     
Mailing address (street or P.O. box):			Mailing address (street or P.O. box):
     			     
City, State, ZIP Code:			City, State, ZIP Code:
     			     
Telephone number:			Telephone number:
     			     
Fax number:			Fax number:
     			     
E-mail address:			E-mail address:
     			     
PLEASE INDICATE THE PROCESS THE BANK REQUESTS BY CHECKING THE APPROPRIATE BOX, BELOW.

After-the-fact notice (12 CFR 24.5(a)) - complete sections 1 and 2.

Prior approval (12 CFR 24.5(b)) - complete section 2.

Section 1 – After-The-Fact Notice Only (12 CFR 24.5(a))

A bank may provide an after-the-fact notice of its Part 24 investment if the bank responds affirmatively to all of the following requirements.

The bank is “well-capitalized,” as defined in 12 CFR 24.2(j). Yes No

The bank has a composite rating of 1 or 2 under the Uniform Financial Institutions Rating System. Yes No

The bank’s most recent Community Reinvestment Act rating is satisfactory or outstanding. Yes No

The bank is not under a cease and desist order, consent order, formal written agreement, or Prompt Corrective Action directive.

Yes No

Including this investment, the bank’s aggregate outstanding investments and commitments under Part 24 do not exceed 5 percent of its capital and surplus, unless the OCC has provided written approval of a written request by the bank allowing the bank to provide after-the-fact notices for investments that would raise the aggregate amount of the bank’s Part 24 investments beyond 5 percent of its capital and surplus.

Yes No

The investment does not involve properties carried on the bank’s books as “other real estate owned.” Yes No

The OCC has not determined, in published guidance, that the investment is inappropriate for the after-the-fact notification.

Yes No

Has the bank responded affirmatively to all of the above requirements in order to provide an after-the-fact notice of its Part 24 investment? [The OCC may have provided written notification that the bank may submit Part 24 after-the-fact notices. If so, please provide the date or a copy of the OCC’s written notification.]

Yes (The bank may make an investment authorized by 12 USC 24(Eleventh) and this part and notify the OCC within 10 working days by submitting a completed after-the-fact notice.)

No (The bank must seek prior OCC approval of its investment and submit a completed investment proposal before making the investment.)

(To complete the after-the-fact notice process or to request prior OCC approval, please proceed to section 2 of this form.)

Section 2 — All Requests

1. Please indicate how the bank’s investment is consistent with Part 24 requirements for public welfare investments, under 12 CFR 24.3.

1. Check at least one of the following that applies to the bank’s investment:

The investment benefits primarily low- and moderate-income individuals.

The investment benefits primarily low- and moderate-income areas.

2. Please indicate how the bank’s investment is consistent with Part 24 requirements for investment limits under 12 CFR 24.4 by responding to the following questions.

1. Dollar amount of the bank’s investment that is the subject of this submission:      .

2. Percentage of the bank’s capital and surplus represented by the bank’s investment that is the subject of this submission:      %.

3. Percentage of the bank’s capital and surplus represented by the aggregate outstanding Part 24 investments and commitments, including this investment:      %.

4. Does this investment expose the bank to unlimited liability?

Yes (This investment cannot be made under Part 24.)

No

3. Please attach a brief description of the bank’s investment. (See 12 CFR 24.5(a)(3)(i) and (b)(2)(i)). Include the following information in the description.

1. The name of the community and economic development entity (CEDE) into which the bank’s investment has been (or will be) made.

2. The type of bank investment (equity, debt, or other).

3. The activity or activities of the CEDE in which the bank has invested (or will invest). (See examples of qualifying investment activities described in 12 CFR 24.6 (a), (b), (c), and (d).)

4. How the investment is structured so that it does not expose the bank to unlimited liability, such as by describing the structure of the CEDE (e.g., CDC subsidiary, multi-bank CDC, multi-investor CDC, limited partnership, limited liability company, community development bank, community development financial institution, community development entity, community development venture capital fund, community development lending consortia, community development closed-end mutual funds, non-diversified closed-end investment companies, or any other CEDE) and by providing any other relevant information.

5. The geographic area served by the CEDE.

6. The total funding or other support by community development partners involved in the project (e.g., government or public agencies, nonprofits, other investors), if known.

7. Supplemental information (e.g., prospectus, annual report, Web address that contains information about the CEDE in which the investment is or will be made), if available.

4. Evidence of qualification is readily available for examination purposes.

The bank maintains information concerning this investment in a form readily accessible and available for examination that supports the certifications contained in this form and demonstrates that the investment meets the standards set out in 12 CFR 24.3, including, where applicable, the criteria of 12 CFR 25.23.

Yes No

5. Certification

The undersigned hereby certifies that the foregoing information in this form is accurate and complete. It is further certified that the undersigned is authorized to file this form on Part 24 investments for the bank.

Name:	     
Title:	     
Signature:
Date:

DESCRIPTION OF THE BANK’S CD INVESTMENT. (See information previously requested )

(Type the description of the bank’s Part 24 investment here. You may type as much text as necessary. You will have access to all of MS Word’s editing features.)

CD-1 (Rev )