Financial Update (July-September 2000)
Community Affairs Web Page
Federal Reserve Rolls Out Community Affairs Web Page
ommunity development information is available with the click of a mouse since the Federal Reserve System went online with a new centralized community affairs Web page earlier this year.
There is a wealth of information available on the site, including materials on the Community Reinvestment Act, upcoming events and links to the 12 Federal Reserve Banks' community affairs information.
Several information sources from the Fed's Board of Governors and the Reserve Banks are highlighted on the site. These include A Guide to Business Credit for Women, Minorities, and Small Businesses; Breaking Ground: A Beginner's Guide for Nonprofit Developers; Partners software on home financing for professionals and homebuyers; and 1st Source, information about programs that assist affordable housing and business and rural development projects. CEDRIC, a database providing consumer and economic development information, can also be accessed through the new Web page.
The address of the new site is www.federalreserve.gov/CommunityAffairs/National.
Community affairs efforts
In accordance with the Community Reinvestment Act of 1977, the Federal Reserve encourages banks to work with community organizations to promote local economic development.
The Fed, through its 12 regional banks, engages in outreach, educational and technical assistance activities to help financial institutions, community-based organizations, government entities and the public understand and address financial services issues affecting low- and moderate-income persons and communities.
Each Reserve Bank has a community affairs officer and staff who are familiar with the credit needs in the communities served by the institutions in the bank's district. The Atlanta Fed's district covers Alabama, Florida, Georgia and portions of Louisiana, Mississippi and Tennessee.