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

Samenvatting

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 incentives to insured depository institutions for the purpose of promoting investments in or other support to 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 this issue of the Federal Register. This interim rule implements the Bank Enterprise Award (BEA) Program. The Fund reserves the right to award funds under this NOFA up to the maximum amount authorized by law. As of the date of this NOFA and subject to funding availability, the Fund intends to make available up to $25 million in BEA Program funds. The Fund reserves the right to award in excess of $25 million if it deems it appropriate.