Bank community support programs.

CFR · 2024-01-01 · US · Title 12

(a) (1) Provide technical assistance to members; (2) Promote and expand affordable housing finance; (3) Identify opportunities for members to expand financial and credit services in underserved neighborhoods and communities; (4) Encourage members to increase their targeted community lending and affordable housing finance activities by providing incentives such as awards or technical assistance to nonprofit housing developers or community groups with outstanding records of participation in targeted community lending or affordable housing finance partnerships with members; and (5) Include an annual Targeted Community Lending Plan approved by the Bank's board of directors and subject to modification. The Bank's board of directors shall not delegate to a committee of the board, Bank officers, or other Bank employees the responsibility to adopt or amend the Targeted Community Lending Plan. The Targeted Community Lending Plan shall: (i) Reflect market research conducted in the Bank's district; (ii) Describe how the Bank will address identified credit needs and market opportunities in the Bank's district for targeted community lending; (iii) Be developed in consultation with (and may only be amended after consultation with) its Advisory Council and with members, housing associates, and public and private economic development organizations in the Bank's district; (iv) Establish quantitative targeted community lending performance goals; (v) Identify and assess significant affordable h

official document · source cfr-2024 · id 12:§ 1290.6