Treasury Secretary Robert E. Rubin appeared Wednesday before the National Policy Council to discuss the administration's accomplishments in the area of banking and credit and to outline its goals for this Congress. Mr. Rubin cited deficit reduction as a major factor in lowering the cost of credit, and the community development bank bill as a means of making credit more widely available. He also cited Community Reinvestment Act reform as a step that benefits both banks and consumers. Here are excerpts from his speech.

Community Reinvestment Act reform emphasizes performance over paperwork. We've replaced 12 old CRA tests with three simple tests - a lending test, a service test, and investment test.

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