ADVISORY/Cleveland Fed to Host Community Reinvestment Conference on September 28.Business Editors ADVISORY...for Sept. 28 (Thursday Thursday: see week. ) --(BUSINESS WIRE) On Thursday, September September: see month. 28, 2000, the Federal Reserve Bank of Cleveland The Federal Reserve Bank of Cleveland is the Cleveland-based headquarters of the U.S. Federal Reserve System's Fourth District. The district is composed of Ohio, western Pennsylvania, eastern Kentucky, and the northern panhandle of West Virginia. will be hosting "New Directions in Community Reinvestment Reinvestment Using dividends, interest and capital gains earned in an investment or mutual fund to purchase additional shares or units, rather than receiving the distributions in cash. 1. In terms of stocks, it is the reinvestment of dividends to purchase additional shares. ," a half-day conference for bankers, community development professionals, and government representatives. Members of the press are invited to attend; however, advance registration is required. To register, or for more information about the conference, please contact June Gates, media relations coordinator, at 216/579-2048 or at june.a.gates@clev.frb.org. The program is being sponsored by the Federal Reserve Bank of Cleveland and the regional offices of the Federal Deposit Insurance Corporation Federal Deposit Insurance Corporation (FDIC), an independent U.S. federal executive agency designed to promote public confidence in banks and to provide insurance coverage for bank deposits up to $100,000. , Office of the Comptroller of the Currency The Office of the Comptroller of the Currency (or OCC) was established by the National Currency Act of 1863 and serves to charter, regulate, and supervise all national banks and the federal branches and agencies of foreign banks in the United States. , and Office of Thrift Supervision The Office of Thrift Supervision (OTS) was established as a bureau of the Treasury Department in August 1989 as part of a major Reorganization Plan of the thrift regulatory structure mandated by the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA) (12 U.S.C.A. . The conference includes:
8:15 a.m. Welcoming Remarks by Jerry Jordan, President and CEO
of the Cleveland Federal Reserve Bank (includes
continental breakfast)
9:00-10:00 a.m. The Performance and Profitability of CRA-Related
Lending
Glenn Canner, Senior Advisor at the Board of Governors of the Federal
Reserve System, will review the results of a Federal Reserve study of
the default rates, delinquency rates, and profitability of CRA-related
lending.
10:15-11:15 a.m. Homeownership: A Help or Hindrance to Low- and
Moderate-Income People?
Professor George McCarthy, Senior Research Associate at the Center for
Urban and Regional Studies, University of North Carolina-Chapel Hill,
challenges some assumptions about the extent to which low- and
moderate-income renters can benefit from homeownership.
11:15-12:15 p.m. The CRA Sunshine Provision
Robert W. Mooney, Assistant Director of CRA and Fair Lending Policy at
the Federal Deposit Insurance Corporation and Daniel Immergluck,
Senior Vice President at the Woodstock Institute, examine the impact
of the CRA sunshine provision on the reinvestment partnerships between
banks and nonprofits.
12:30-1:00 p.m. Lunch
12:30-1:45 p.m. Emerging Neighborhood Markets: Revealing the Hidden
Strengths of America's Inner Cities
Lynn Reilly, President and Founding CEO of Social Compact,
demonstrates how traditional poverty-based data sets are inadequate
measures of the commercial potential of inner-city neighborhoods.
|
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion