The Federal Reserve Bank of San Francisco
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Community Development

Upcoming Event

CRA Investment Strategies:  Shared EQ2s

Sponsored by the Federal Reserve Bank of San Francisco and the Office of the Comptroller of the Currency.

Thursday, July 24, 2008
8:30 a.m. - 11:00 a.m.

CRA Investment Strategies: Shared EQ2sFRBSF Los Angeles Branch
950 South Grand Avenue, Los Angeles, CA 90015
The Fed is located on Grand Avenue at the corner of Olympic Blvd. in downtown Los Angeles.  Parking is available at nearby public lots for a small fee. Photo identification is required and camera phones are not permitted on Fed premises.

There is no charge for this event, but advanced registration is required to gain access to premises. Space is limited, please register by the end of the day on
Monday, July 21st.

Registration

Questions: Contact Melody Winter Nava, 213-683-2932.
Event Description

This forum will introduce regional and community bankers to a new and innovative investment opportunity-a shared Equity Equivalent (EQ2) Investment for Los Angeles County.  The investment was developed by Wells Fargo Bank and the Corporation for Supportive Housing.

EQ2s are financial tools that allow CDCs and CDFIs to strengthen capital and leverage debt, resulting in increased lending and investing in economically disadvantaged communities.  EQ2s have become an increasingly popular investment product with significant benefits for banks, CDCs, and CDFIs. Traditionally, EQ2s require substantial minimum investment.  With this product, small to medium sized banks may invest in a vehicle that is typically the domain of much larger financial institutions. 

Supportive Housing is an increasingly important component of successful affordable housing projects throughout the country.  The Los Angeles Community Development Commission is partnering with financial institutions and the Corporation for Supportive Housing in the establishment of a major fund to address housing for homeless and very low-income individuals and families in Los Angeles County.  Come discover how this partnership product works and how it may fit into your CRA investment strategy.

Preliminary Agenda:
8:30 a.m.
 Registration and Continental Breakfast
9:00 a.m.
 Welcome and Opening remarks
9:10 a.m.
 Introduction to Supportive Housing
9:30 a.m.
 The Underwriting and Funding Process for EQ2 Investments
10:00 a.m.
 Questions and Answers
11:00 a.m.
 Closing