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.
Statements (48)
| Predicate | Object |
|---|---|
| instanceOf |
community development program
→
federal financial incentive program → |
| abbreviation |
BEA Program
→
|
| administeredBy |
Community Development Financial Institutions Fund
→
U.S. Department of the Treasury → |
| awardBasis |
documented increases in qualified activities relative to a baseline period
→
|
| beneficiary |
Community Development Financial Institutions
→
economically distressed communities → low- and moderate-income communities → |
| country |
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 |
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 |
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 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)
| Subject (surface form when different) | Predicate |
|---|---|
|
BEA Program
→
|
fullName |
|
Community Development Financial Institutions Fund
→
|
manages |