It is also important to recognize that community development financing is often provided in areas that do not neatly fit within a bank’s assessment area. Community development financing opportunities are not always easy for banks to identify and often depend on working with local nonprofits or governments to help identify projects and put together the complex financing required to bring them to fruition.
Conclusion In sum, monetary policy will be facing some interesting challenges over the next several years, even if the economy proceeds along the favorable path I have outlined today. And, as all forecasters know, the odds are always high that events will deviate from our expectations, requiring policy to adapt.