It's fascinating to see what criteria they will consider hate speech.
Facebook is usually fast to act on any reports, so I've been able to test what they allow and what they have removed.
A black girl making fun of Asians and calling them stupid and "chinky ass" was left up.
A white guy calling black people "ghetto" was removed.
A white guy calling Mexicans "wet backs" was left up.
I'm not sure what they are counting as hate speech, and what they aren't, as those posts appear to have been moderated by an actual human. I guess it depends on the time of day, and the attitude of the person judging the content.