The Community Affairs program reflects
the structure of the Federal Reserve System. Within the framework
of a shared mission and goals, each of the twelve Reserve Banks establishes
its own programs and responds to local needs in its District. As part
of a nationwide entity, the Community Affairs program has the ability
to collaborate on projects, to share information and resources, and
to work together to accomplish goals at regional and national levels.
Federal Reserve Mission
The mission of the Federal Reserve System's
Community Affairs program is to support the System's economic growth
objectives by promoting community development and fair and impartial
access to credit.
Federal Reserve Goals
The System's Community Affairs program seeks to achieve the following
goals through a broad range of activities.
Foster
the active engagement of depository institutions in providing credit
and other banking services to their
entire communities, including traditionally underserved markets.
Facilitate
and provide technical assistance for the formation of community development
corporations, lending consortia, and other partnerships.
Develop
and present training programs on methods and financing for affordable
housing and economic development.
Encourage
cooperation among community organizations, government agencies, financial
institutions, and other community development practitioners to
their mutual benefit.
Provide
information about partnership efforts that support increased access
to credit.
Sponsor
forums such as conferences, workshops, and trade fairs for the exchange
of information, ideas, and available resources among lenders, community
groups, and government officials.
Develop
greater public awareness of the benefits and risks of financial services
products and of the rights and responsibilities that derive from community
investment and fair lending regulations.
Disseminate
information on special lending programs and resources, regulatory
rights and responsibilities, and regulatory trends.
Analyze
the impact of regulatory restrictions and requirements on individuals,
institutions, and communities.
Promote
a better understanding by policymakers, community leaders, and private-sector
decisionmakers of the processes and resources that support successful
community development programs and best practices of community development.
Promote
research on urban, rural, and tribal economic issues and underserved
credit markets.
Produce
and distribute materials that feature successful community development
resources and techniques.
Participate
in community, Federal Reserve, and interagency projects and forums
regarding the development of policies promoting community investment
and equal access to credit.
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