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#1794620 - 03/14/13 02:41 PM New MSA List is Out
Kathleen O. Blanchard Offline

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Kathleen O. Blanchard
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The list, based upon the 2010 census, is effective 1/1/2014 for data collected from that date forward.

http://www.whitehouse.gov/sites/default/files/omb/bulletins/2013/b-13-01.pdf
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#1794649 - 03/14/13 03:26 PM Re: New MSA List is Out Kathleen O. Blanchard
bOaty Offline
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Chillin an grillin
Thanks KB!! smile
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#1794655 - 03/14/13 03:33 PM Re: New MSA List is Out Kathleen O. Blanchard
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under the Lone Star
929 MSAs, with 94% of the population of the U.S. living in those MSAs.
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#1794683 - 03/14/13 04:10 PM Re: New MSA List is Out Kathleen O. Blanchard
Kathleen O. Blanchard Offline

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Kathleen O. Blanchard
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It will soon be one big MSA.
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#1794795 - 03/14/13 05:54 PM Re: New MSA List is Out Kathleen O. Blanchard
bOaty Offline
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Chillin an grillin
The USA MSA?
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#1795288 - 03/15/13 04:06 PM Re: New MSA List is Out Kathleen O. Blanchard
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Florida
We actually did a compare of the data to see how many changes there were and it looks like 79 MSA's have changed (added, deleted or modified). They have not made any changes since 2009, so the list has been building.

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#1798158 - 03/25/13 06:55 PM Re: New MSA List is Out RATA_Guru
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Cincinnati, OH
Originally Posted By: RATA_Guru
We actually did a compare of the data to see how many changes there were and it looks like 79 MSA's have changed (added, deleted or modified). They have not made any changes since 2009, so the list has been building.


Any news on when the new income data to go with the new MSAs will be released?

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#1798255 - 03/26/13 01:55 AM Re: New MSA List is Out Kathleen O. Blanchard
Len S Offline
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Connecticut
You won't see that until next year when it becomes effective.
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#1798411 - 03/26/13 06:05 PM Re: New MSA List is Out Len S
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So, we do not need to update our AAs and corresponding maps and list of tracts until 2014?

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#1798420 - 03/26/13 06:32 PM Re: New MSA List is Out Kathleen O. Blanchard
Kathleen O. Blanchard Offline

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Nothing...changes are effective 2014.
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#1798607 - 03/27/13 12:54 PM Re: New MSA List is Out Kathleen O. Blanchard
Len S Offline
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Connecticut
Some bankers have been panicked by the publication of the new MSA list because the press release from OMB states, "The delineations of the statistical areas shown in the appendix's nine lists take effect immediately". They take effect immediately for government agencies, but the FFIEC has stated that they won't be applied to HMDA or CRA until January 1, 2014 when they will be applied to new loans from that date forward.

This does mean that next year you will need to review your Assessment Area delineations again (since AA boundaries are not supposed to "substantially" cross MSA boundaries). It also means that all census tracts' income classifications will need to be recalculated and many may change. So you will need to review that impact on your CRA performance standards (LMI tract penetration rates, revitalization/stabilization qualified areas, etc.) as well. It is impossible to monitor your CRA performance without knowing your "performance context" and this affects some of the most important performance context parameters.
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#1802072 - 04/05/13 06:08 PM Re: New MSA List is Out Kathleen O. Blanchard
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Southern Illinois
So, if we are new to the list of MSA's that is effective January 2014 does that mean we do not qualify as a "Financial Institution" under Reg. C definitions since we didn't have a branch office within an MSA as of December 31, 2013?
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#1802268 - 04/07/13 06:15 PM Re: New MSA List is Out Kathleen O. Blanchard
Len S Offline
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Posts: 1,965
Connecticut
Actually the last time this happened on a major scale, 10 years ago, it triggered "coverage" for many institutions that had not been reporting under HMDA. And many of those lenders were not aware of the implications until it was too late and they missed their filing the following year. This was understandable because they were used to not reporting and they hadn't done anything to trigger coverage, like opening a branch in a MSA.

There is no reason to wait until next year to determine if this affects you. Since the changes have been announced everyone should be examining the list to see if they will be in a MSA next year. If you have not been a covered HMDA lender you may be in for a big surprise!
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