§ 1033.121. Compliance dates.
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/us/cfr/t12/s§ 1033.121·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)Determining assets and revenue for purposes of initial compliance dates. A data provider's compliance date in paragraph
(b)of this section is based on the calculation of total assets or total receipts, as appropriate, described in paragraphs (a)(1) and
(2)of this section.
(1)With respect to a depository institution data provider, total assets are determined by averaging the assets reported on its 2023 third quarter, 2023 fourth quarter, 2024 first quarter, and 2024 second quarter call report submissions to the Federal Financial Institutions Examination Council or National Credit Union Administration, as applicable, or its submissions to the appropriate oversight body to the extent it does not submit such reports to the Federal Financial Examination Council or National Credit Union Administration. If, as a result of a merger or acquisition, a depository institution data provider does not have the named four quarterly call report submissions, the depository institution data provider shall use the process set out in § 1033.111(d)(3) to determine total assets for the time period named in this paragraph (a)(1).
(2)With respect to a nondepository institution data provider, total receipts are calculated based on the SBA definition of receipts, as codified in 13 CFR 121.104(a).
(b)Initial compliance dates. A data provider defined under § 1033.111(c)(1) through
(3)must comply with the requirements in subparts B and C of this part beginning on:
(1)April 1, 2026, for depository institution data providers that hold at least $250 billion in total assets and nondepository institution data providers that generated at least $10 billion in total receipts in either calendar year 2023 or calendar year 2024.
(2)April 1, 2027, for data providers that are:
(i)Depository institutions that hold at least $10 billion in total assets but less than $250 billion in total assets; or
(ii)Nondepository institutions that did not generate $10 billion or more in total receipts in both calendar year 2023 and calendar year 2024.
(3)April 1, 2028, for depository institution data providers that hold at least $3 billion in total assets but less than $10 billion in total assets.
(4)April 1, 2029, for depository institution data providers that hold at least $1.5 billion in total assets but less than $3 billion in total assets.
(5)April 1, 2030, for depository institution data providers that hold less than $1.5 billion in total assets but more than $850 million in total assets.
(c)Compliance dates for depository institution data providers that subsequently cross coverage threshold. A depository institution data provider under § 1033.111(c)(1) through
(3)that has total assets as calculated in § 1033.111(d)(2) equal to or less than the SBA size standard as determined in accordance with § 1033.111(d)(1), but that subsequently holds total assets that exceed that SBA size standard, as measured in § 1033.111(d)(2), must comply with the requirements in subparts B and C of this part within a reasonable amount of time after exceeding the size standard, not to exceed five years.
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