Later, we took out unwarranted redenomination risks from sovereign debt markets, helping attenuate the banksovereign nexus. More recently, we have launched a credit easing package which aims, among other things, to ensure that bank deleveraging does not produce excessive dispersion in lending rates across countries. The evidence suggests that each of these measures has been successful.
Growth of community development finance and current challenges The Community Reinvestment Act (CRA) was enacted more than 30 years ago in response to deteriorating economic conditions in urban areas, particularly in lower-income and minority communities. The CRA served as a catalyst in attracting innovative public and private investment capital into low- and moderate-income communities.