§ 252. — Credit availability assessment.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 12USC252]
TITLE 12--BANKS AND BANKING
CHAPTER 3--FEDERAL RESERVE SYSTEM
SUBCHAPTER II--BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM
Sec. 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 National Credit Union Administration, the
Administrator of the Small Business Administration, and the
Secretary of Commerce, shall conduct a study and submit a report to
the Congress detailing the extent of small business lending by all
creditors.
(2) Contents of study
The study required under paragraph (1) shall identify, to the
extent practicable, those factors which provide policymakers with
insights into the small business credit market, including--
(A) the demand for small business credit, including
consideration of the impact of economic cycles on the levels of
such demand;
(B) the availability of credit to small businesses;
(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 finance 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, including, 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 providing 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, Sec. 2227, Sept. 30, 1996, 110 Stat.
3009-417.)
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 Appropriations Act, 1997, and not as part of the Federal
Reserve Act which comprises this chapter.
Study of Financial Modernization's Effect on the Accessibility of Small
Business and Farm Loans
Pub. L. 106-102, title I, Sec. 109, Nov. 12, 1999, 113 Stat. 1362,
provided that:
``(a) Study.--The Secretary of the Treasury, in consultation 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 businesses 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 beginning on the
date of the enactment of this Act [Nov. 12, 1999], the Secretary, in
consultation with the Federal banking agencies, shall submit a report to
the Congress on the study conducted pursuant to subsection (a) and shall
include such recommendations as the Secretary determines to be
appropriate for administrative and legislative action.''
Definitions
Section 2001(c) of title II of div. A of Pub. L. 104-208, 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 `Appraisal Subcommittee'
means the Appraisal Subcommittee established under section 1011 of
the Federal Financial Institutions Examination Council Act of 1978
[12 U.S.C. 3310] (as in existence on the day before 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 Financial
Institutions Examination Council established under section 1004 of
the Federal Financial Institutions Examination Council Act of 1978
[12 U.S.C. 3303].
``(6) Insured credit union.--The term `insured credit 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 meaning as in section 3 of the
Federal Deposit Insurance Act.''
