Notice of Funds Availability (NOFA) Inviting Applications for the Bank Enterprise Award Program

Zusammenfassung

The Community Development Banking and Financial Institutions Act of 1994 (12 U.S.C. 4701 et seq.) authorizes the Community Development Financial Institutions Fund (hereafter referred to as ``the Fund'') to provide assistance to insured depository institutions for the purpose of promoting investments in Community Development Financial Institutions (``CDFIs'') and facilitating increased lending and provision of financial and other services in economically distressed communities. Insured depository institutions and CDFIs are defined terms in an interim rule (12 CFR part 1806) published elsewhere in today's Federal Register. The Fund reserves the right to award funds under this Notice up to the maximum amount authorized by law. As of the date of this Notice and subject to funding availability, the Fund intends to award up to $15.5 million in Bank Enterprise Award (``BEA'') Program funds. The Fund may award in excess of $15.5 million if more funds become available. The BEA Program shall be subject to the interim rule. The interim rule establishes the program requirements.