Community Developments
Home | Spring 2010

 

 Contents

Road to Recovery: Banks Can Use Recovery Act to Help Pave the Way
A Look Inside ...  
Economic Development Programs: Providing Lending Opportunities for Banks
Housing Finance Programs: Providing Lending and Investing Opportunities for Banks
Bond Investment Programs: Providing Investment Opportunities for Banks
This Just In ... OCC's Four Districts Report on New Opportunities for Banks
Image map of the four districts

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Road to Recovery: Banks Can Use Recovery Act to Help Pave the Way

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A Look Inside ...

The Recovery Act is helping to stimulate construction and jobs in communities across the nation. With the American Recovery and Reinvestment Act of 2009 (Recovery Act) having marked its first anniversary and the economy regaining its footing, banks face unique opportunities to help return the economy to long-term growth, to serve their communities, and to help themselves. Check out the related resource list.
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Economic Development Programs: Providing Lending Opportunities for Banks

Recovery Act funds are available to preserve and create jobs, many of which are in small businesses located in small and large towns. New and expanded federal programs are helping banks find new ways to help small businesses create jobs, expand, and stabilize the economies of local communities across the nation.

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Housing Finance Programs: Providing Lending and Investing Opportunities for Banks

Recovery Act funds help stimulate low-income housing tax credits and new markets tax credits for the construction of new facilities and housing. Thanks to the Recovery Act, banks have new opportunities to partner with community groups and state and local governments that are working to revitalize housing in their communities through their lending, investments, and community development service activities.
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Bond Investment Programs: Providing Investment Opportunities for Banks

Build America bonds can be used for a variety of purposes, including the purchase of technology for schools. The Recovery Act created or expanded programs that encourage more activity in the public finance sector by introducing four new kinds of taxable, tax credit, and tax-exempt bonds and providing greater financial incentives for banks to invest in municipal obligations. Also, see companion chart comparing bond programs.