12 U.S.C. § 252 — Credit availability assessment

Page 101 TITLE 12—BANKS AND BANKING § 253 § 251. Repealed. Pub. L. 104–208, div. A, title II, § 2224(a), Sept. 30, 1996, 110 Stat. 3009–415 Section, Pub. L. 102–242, title IV, § 477, Dec. 19, 1991, 105 Stat. 2387; Pub. L. 102–550, title XVI, § 1606(i)(3), Oct. 28, 1992, 106 Stat. 4089, required Board of Governors of Federal Reserve System to collect and publish informa- tion on availability of credit to small businesses. § 252. Credit availability assessment (a) Study (1) In general Not later than 12 months after September 30, 1996, and once every 60 months thereafter, the Board, in consultation with the Director of the Office of Thrift Supervision, the Comptroller of the Currency, the Board of Directors of the Corporation, the Administrator of the Na- tional Credit Union Administration, the Ad- ministrator of the Small Business Administra- tion, and the Secretary of Commerce, shall conduct a study and submit a report to the Congress detailing the extent of small busi- ness lending by all creditors. (2) Contents of study The study required under paragraph (1) shall identify, to the extent practicable, those fac- tors which provide policymakers with insights into the small business credit market, includ- ing— (A) the demand for small business credit, including consideration of the impact of eco- nomic cycles on the levels of such demand; (B) the availability of credit to small busi- nesses; (C) the range of credit options available to small businesses, such as those available from insured depository institutions and other providers of credit; (D) the types of credit products used to fi- nance small business operations, including the use of traditional loans, leases, lines of credit, home equity loans, credit cards, and other sources of financing; (E) the credit needs of small businesses, in- cluding, if appropriate, the extent to which such needs differ, based upon product type, size of business, cash flow requirements, characteristics of ownership or investors, or other aspects of such business; (F) the types of risks to creditors in pro- viding credit to small businesses; and (G) such other factors as the Board deems appropriate. (b) Use of existing data The studies required by this section shall not increase the regulatory or paperwork burden on regulated financial institutions, other sources of small business credit, or small businesses. (Pub. L. 104–208, div. A, title II, § 2227, Sept. 30, 1996, 110 Stat. 3009–417.) Editorial Notes CODIFICATION Section was enacted as part of the Economic Growth and Regulatory Paperwork Reduction Act of 1996, and also as part of the Omnibus Consolidated Appropria- tions Act, 1997, and not as part of the Federal Reserve Act which comprises this chapter. Statutory Notes and Related Subsidiaries TRANSFER OF FUNCTIONS Functions vested in Administrator of National Credit Union Administration transferred and vested in Na- tional Credit Union Administration Board pursuant to section 1752a of this title. STUDY OF FINANCIAL MODERNIZATION’S EFFECT ON THE ACCESSIBILITY OF SMALL BUSINESS AND FARM LOANS Pub. L. 106–102, title I, § 109, Nov. 12, 1999, 113 Stat. 1362, provided that: ‘‘(a) STUDY.—The Secretary of the Treasury, in con- sultation with the Federal banking agencies (as defined in section 3(z) of the Federal Deposit Insurance Act [12 U.S.C. 1813(z)]), shall conduct a study of the extent to which credit is being provided to and for small busi- nesses and farms, as a result of this Act [see Tables for classification] and the amendments made by this Act. ‘‘(b) REPORT.—Before the end of the 5-year period be- ginning on the date of the enactment of this Act [Nov. 12, 1999], the Secretary, in consultation with the Fed- eral banking agencies, shall submit a report to the Con- gress on the study conducted pursuant to subsection (a) and shall include such recommendations as the Sec- retary determines to be appropriate for administrative and legislative action.’’ DEFINITIONS Pub. L. 104–208, div. A, title II, § 2001(c), Sept. 30, 1996, 110 Stat. 3009–397, provided that: ‘‘Except as otherwise specified in this title [see Tables for classification], the following definitions shall apply for purposes of this title: ‘‘(1) APPRAISAL SUBCOMMITTEE.—The term ‘Ap- praisal Subcommittee’ means the Appraisal Sub- committee established under section 1011 of the Fed- eral Financial Institutions Examination Council Act of 1978 [12 U.S.C. 3310] (as in existence on the day be- fore the date of enactment of this Act [Sept. 30, 1996]). ‘‘(2) APPROPRIATE FEDERAL BANKING AGENCY.—The term ‘appropriate Federal banking agency’ has the same meaning as in section 3 of the Federal Deposit Insurance Act [12 U.S.C. 1813]. ‘‘(3) BOARD.—The term ‘Board’ means the Board of Governors of the Federal Reserve System. ‘‘(4) CORPORATION.—The term ‘Corporation’ means the Federal Deposit Insurance Corporation. ‘‘(5) COUNCIL.—The term ‘Council’ means the Finan- cial Institutions Examination Council established under section 1004 of the Federal Financial Institu- tions Examination Council Act of 1978 [12 U.S.C. 3303]. ‘‘(6) INSURED CREDIT UNION.—The term ‘insured cred- it union’ has the same meaning as in section 101 of the Federal Credit Union Act [12 U.S.C. 1752]. ‘‘(7) INSURED DEPOSITORY INSTITUTION.—The term ‘insured depository institution’ has the same mean- ing as in section 3 of the Federal Deposit Insurance Act.’’ § 253. Open data publication by the Board of Gov- ernors All public data assets published by the Board of Governors under this chapter, the Bank Hold- ing Company Act of 1956 (12 U.S.C. 1841 et seq.), the Financial Stability Act of 2010 (12 U.S.C. 5311 et seq.), the Home Owners’ Loan Act (12 U.S.C. 1461 et seq.), the Payment, Clearing, and Settle- ment Supervision Act of 2010 (12 U.S.C. 5461 et seq.), or the Enhancing Financial Institution Safety and Soundness Act of 2010 (title III of Public Law 111–203) (or any provision of law amended by that Act) shall be— (1) made available as an open Government data asset (as defined in section 3502 of title 44);