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The Chronicle of Philanthropy
Foundations are increasingly pairing grants with below-market loans and other nontraditional investments to help nonprofits build long-term financial stability rather than fund just one year's budget. The practice, known as program-related investing, remains uncommon, though membership in its main network, Mission Investors Exchange, has grown from a handful of foundations in 2005 to more than 300 today.
The Narrative Matters
North Bend Residences opened in Fairview Heights, Ill., bringing affordable, energy-efficient homes and on-site support to seniors and military veterans. The $21 million community was funded through low-income housing tax credits and financing from partners including U.S. Bank and IFF, a CDFI in Illinois.
CDFinance Policy
Federal Reserve Board
The Federal Reserve Board proposed updating Regulation O, largely unchanged since 1979, to raise the dollar thresholds on loans banks may extend to executives, directors, and major shareholders, and to index those limits to economic growth. The Fed said the rule is meant to simplify standards for community banks that recruit local business owners as directors. Comments are due 60 days after Federal Register publication.
The Wall Street Journal (Editorial Board)
The Wall Street Journal's editorial board wrote that the Senate's Clarity Act would give the cryptocurrency industry needed regulatory certainty, but argued lawmakers should revise it before passage to close loopholes, including stablecoin rewards that could pull deposits from banks and anti-money-laundering exemptions for certain decentralized networks.
