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Treasury Releases Interim Rule for CDFI Bond Guarantee Program
Last week, the U.S. Treasury released interim rules for the new Community Development Financial Institutions (CDFIs) Bond Guarantee Program. Through the program, eligible CDFIs will issue bonds that are guaranteed by the federal government and use the bond proceeds to extend credit to the broader CDFI industry for community development. Unlike other CDFI Fund programs, the bond proceeds are debt instruments that must be repaid. The Treasury Department will guarantee up to 10 bonds per year, each at a minimum of $100 million, up to a total of $1 billion per year. Learn more...