CRA Investment Possibilities
This section is intended to identify some investment opportunities of possible interest for large banks under the Community Reinvestment Act (CRA) investment test. Community Affairs Department staff at the Federal Reserve Bank of Philadelphia identified investment opportunities that appear to fit one or more of the four community-development categories for CRA investments and that serve one or more geographic areas in the Third Federal Reserve District.
Banks must make their own determination of CRA eligibility and must conduct their own due-diligence investigation of any investment possibility.
Introduction (PDF, 185 KB, 4 pages)
Six types of CRA investments are listed below.
- Community Development Financial Institutions
(PDF, 81 KB, 3 pages) - CRA-Targeted Mortgage-Backed Securities
and Collateralized Mortgage Obligations
(PDF, 174 KB, 11 pages) - Low-Income Housing Tax Credits (PDF, 93 KB, 4 pages)
- New Markets Tax Credit Program (PDF, 191 KB, 12 pages)
- Real Estate Investment Trusts and Private Real Estate Equity Firms (PDF, 166 KB, 3 pages)
- Venture Capital (PDF, 238 KB, 10 pages)
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