| For immediate release |
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The Federal Reserve Board today announced the publication of its annual updated directory of community development investments by banking organizations.
This year's directory has been expanded to include a separate section featuring community development investments by state member banks. Previous editions included only bank holding company investments. The directory consists of descriptive profiles of more than 150 existing community development corporations and investments made by bank holding companies and state member banks. These profiles provide information on the amount of initial capital invested by an institution, a description of the community development projects or activities undertaken or planned, and contact persons who can provide additional information on the organization and operation of the CDC or other community development investment activity. In issuing the directory, the Board emphasizes that bank holding companies or state member banks that are considering making community development investments are encouraged to consult with both the Community Affairs and Applications staffs at their district Federal Reserve Bank. Single or multiple copies of the directory may be obtained by contacting the Community Affairs office of the district Federal Reserve Banks. For further information, contact the Division of Consumer and Community Affairs, Board of Governors of the Federal Reserve System, Washington, D.C. 20551, (202) 452-3378. |