The Federal Reserve and FDIC today announced the asset-size thresholds that will be used to define “small bank” and “intermediate small bank” under Community Reinvestment Act regulations for 2023. A small bank will be defined as an institution that, as of Dec. 31 of either of the prior two calendar years, had assets of less than $1.503 billion. An intermediate small bank will be an institution with assets of at least $376 million as of Dec. 31 of both of the prior two calendar years and less than $1.503 billion as of Dec. 31 of either of the prior two calendar years. The new thresholds take effect Jan. 1, 2023.
Pending home sales fell in December
Pending home sales in December dropped 9.3% from the prior month and 3% year over year, according to the National Association of Realtors. There were 1.18 million homes on the market.
