My first year for CRA reporting. I've reviewed the CRA guide and haven't come across this very basic info. Do we round up to nearest thousand when entering loan amount?

According to the help information in the Federal Reserve CRA data entry software, amounts should be rounded to the nearest thousand.

If the amount does not round UP to at least $1,000 the record is not accepted in the FFIEC program. So $501.00 would round up to 1,000 and $499.00 would round down to 0 and not be reported.

IMO the same would apply to other amounts as well, So $10,501 would round up to 11, and $10,499 would round down to 10

Be careful we often see amounts being rounded to the nearest 10,000 instead of 1,000

That's to all for the info. TJ