Richmond Fed Presenting Research on Possible Community Development Financing
Gaps
RICHMOND, Va., Oct. 19 /PRNewswire-USNewswire/ -- The Federal Reserve Bank of
Richmond will present research that identifies and analyzes possible gaps in
service areas for community development financial institutions in the
Southeast at a conference Oct. 27.
The research, to be presented by Kimberly Zeuli, Community Affairs officer at
the Richmond Fed, will show a map of CDFI coverage and assets to illustrate
the reach of CDFIs in places that may have limited credit and investment
resources.
The Richmond Fed is working with the Opportunity Finance Network, the Mary
Reynolds Babcock Foundation and the U.S. Treasury's Community Development
Financial Institutions Fund to host the Building Community Development Finance
Capacity in the Southeast pre-conference session on Oct. 27, from 12 p.m.
until 4 p.m., at the Charlotte Westin Hotel, in Charlotte, N.C. The session is
being held in conjunction with the 2009 Opportunity Finance Network Conference
and will focus on providing education about existing CDFI capacity and
strategies for expanding service, especially in underserved markets. Community
development financial institutions provide alternative access to capital,
credit and financial services for low- and moderate- income communities that
are underserved by traditional financial institutions. CDFIs are critical to
maintaining capital flow in today's tight credit market; however, preserving
the gains made in revitalizing these communities remains a challenge.
More information on the conference is available here.
The Federal Reserve Bank of Richmond is one of 12 District Reserve Banks that
together with the Board of Governors in Washington, D.C., make up the Federal
Reserve System. The Richmond Fed serves the Fifth Federal Reserve District,
which encompasses the District of Columbia, Maryland, North Carolina, South
Carolina, Virginia, and most of West Virginia.
SOURCE Federal Reserve Bank of Richmond
Jim Strader of the Federal Reserve Bank of Richmond, +1-804-697-8956,
jim.strader@rich.frb.org
