Bank Enterprise Award Program
E2189
The Bank Enterprise Award Program is a federal initiative that provides financial incentives to banks to increase their investments and services in economically distressed communities.
All labels observed (1)
| Label | Occurrences |
|---|---|
| Bank Enterprise Award Program canonical | 2 |
Statements (48)
| Predicate | Object |
|---|---|
| instanceOf |
community development program
ⓘ
federal financial incentive program ⓘ |
| abbreviation | BEA Program ⓘ |
| administeredBy |
Community Development Financial Institutions Fund
ⓘ
United States Department of the Treasury ⓘ
surface form:
U.S. Department of the Treasury
|
| awardBasis | documented increases in qualified activities relative to a baseline period ⓘ |
| beneficiary |
Community Development Financial Institutions Fund
ⓘ
surface form:
Community Development Financial Institutions
economically distressed communities ⓘ low- and moderate-income communities ⓘ |
| country |
United States of America
ⓘ
surface form:
United States
|
| eligibleInstitutionType |
FDIC-insured depository institution
ⓘ
federally insured bank ⓘ |
| evaluationCriterion |
increase in provision of financial services
ⓘ
increase in qualified investments ⓘ increase in qualified loans ⓘ |
| focusArea |
affordable housing finance
ⓘ
community development ⓘ provision of financial services in underserved areas ⓘ small business lending in distressed communities ⓘ |
| fundingMechanism | competitive application process ⓘ |
| fundingSource |
United States government
ⓘ
surface form:
federal government of the United States
|
| impactArea |
economically distressed census tracts
ⓘ
low-income communities ⓘ |
| implementsPolicy | federal community development finance policy ⓘ |
| incentiveType |
cash awards
ⓘ
monetary awards ⓘ |
| intendedOutcome |
expanded banking services in underserved markets
ⓘ
increased access to capital in distressed communities ⓘ |
| legalFramework |
Riegle Community Development and Regulatory Improvement Act of 1994
ⓘ
surface form:
Community Development Banking and Financial Institutions Act of 1994
|
| levelOfGovernment | federal ⓘ |
| method | awards based on increases in qualified activities ⓘ |
| monitoredBy | Community Development Financial Institutions Fund ⓘ |
| policyDomain |
economic development
ⓘ
financial inclusion ⓘ |
| policyGoal |
to leverage private sector investment for community development
ⓘ
to promote economic revitalization in distressed communities ⓘ |
| purpose |
to encourage the expansion of financial services in underserved markets
ⓘ
to provide financial incentives to banks to increase investments in economically distressed communities ⓘ |
| relatedTo |
Community Development Financial Institutions Fund
ⓘ
surface form:
Community Development Financial Institutions Program
New Markets Tax Credit Program ⓘ |
| sector | community development finance ⓘ |
| supportsActivity |
equity investments in community development projects
ⓘ
financial services partnerships with Community Development Financial Institutions ⓘ lending to residents of distressed communities ⓘ provision of retail financial services in underserved areas ⓘ |
| targetEntity |
banks
ⓘ
insured depository institutions ⓘ |
| typeOfIncentive | performance-based award ⓘ |
Referenced by (2)
Full triples — surface form annotated when it differs from this entity's canonical label.