§24.3. Public welfare investments. — Inbound Citations

(b) This part implements 12 U.S.C. 24 (Eleventh). It is the OCC's policy to encourage a national bank to make investments described in § 24.3, consistent with safety and soundness. This part provides the standards and procedures that apply to these investments.

(d) Community development Project (CD Project) means a project to make an investment that meets the requirements of § 24.3.

(iv) A statement certifying that the investment complies with the requirements of §§ 24.3 and 24.4.

Investments that primarily support the following types of activities are examples of investments that meet the requirements of § 24.3:

(b) Each national bank shall maintain in its files information adequate to demonstrate that its investments meet the standards set out in § 24.3 of this part, including, where applicable, the criteria of § 25.23 of appendix G to 12 CFR part 25, and that the bank is otherwise in compliance with the requirements of this part.