The Emergency Capital Investment Program (ECIP) provided over $8.57 billion in investments to 175 depository institutions that are certified Community Development Financial Institutions (CDFIs) or minority depository institutions (MDIs). These participating community financial institutions can qualify to lower the rate they pay on Treasury’s investments by increasing their lending and other investments in low- and moderate-income, rural, and minority communities.
Impact Highlights
ECIP participants advance the statutory goal of providing financing and other resources to financially underserved borrowers and communities, including by:
- Providing loans and technical assistance to low- and moderate-income borrowers,
- Lending in rural communities, on tribal lands and in U.S. territories,
- Opening access to capital for small businesses, and
- Financing the production of affordable rental housing and providing mortgages to financially underserved homebuyers.
Announcements
December 2024
- 12/13/2024: The Department of the Treasury publishes final versions of the ECIP Securities Purchase Option Agreement. This agreement will be entered into between Treasury and ECIP participants requesting a contingent sale or transfer of their ECIP investments pursuant to the final ECIP Disposition Policy, published on November 20, 2024. ECIP participants and their legal advisors are advised to carefully review the agreement.
Preferred Stock Agreement
Subordinated Debt Agreement
November 2024
11/25/2024: The Department of the Treasury publishes a preview version of the ECIP Securities Purchase Option Agreement. This agreement will be entered into between Treasury and ECIP participants requesting a contingent sale or transfer of their ECIP investments pursuant to the final ECIP Disposition Policy, published on November 20, 2024. ECIP participants and their legal advisors are advised to carefully review the agreement. Please let us know as soon as possible, and no later than Thursday, December 5, 2024, of any significant issues with the agreement by emailing ECIP@treasury.gov.
- 11/20/2024: The Department of the Treasury publishes final guidelines describing certain circumstances and processes under which Treasury may sell an ECIP investment to the issuer or any other entity. Beginning Monday, November 25, 2024, ECIP participants that wish to request a sale of the investment in their institution may do so by emailing df.ecip.disposition@treasury.gov. Please include the EC number and name of the participant in the email, note that you are requesting a sale, and include a primary point of contact. At this time, no other information is required from ECIP participants that wish to request a sale. ECIP Disposition Policy
September 2024
- 9/4/2024: The Department of the Treasury publishes revised Quarterly Supplemental Report (QSR) Frequently Asked Questions, including an FAQ on loans to tribal enterprises. Quarterly Supplemental Report FAQS 9.24 (treasury.gov)
August 2024
- 8/13/2024: The Department of the Treasury invites public comments on proposed guidelines describing certain circumstances and processes under which Treasury may sell an ECIP investment to the issuer or any other entity. Comments on the proposed guidelines may be submitted to Treasury at ecip@treasury.gov. Please include “Disposition Policy” in the subject line. Comments are due by Friday, September 13, 2024. ECIP Disposition Policy.
- 8/5/2024: The ECIP announces it’s Customer Service Survey.
July 2024
- 7/18/2024:The ECIP announces it will hold webinars regarding qualification for rate reductions and upcoming payments from participants to Treasury. Sessions will be held on August 5th and August 12th. 39 ECIP participants will be making their first interest and dividend payments to Treasury on September 16th. This includes all institutions that had closing dates between June 15, 2022 and September 14, 2022. For institutions in this category, attendance at one of these sessions is strongly encouraged. Read more on the payments process webinars here.
- 7/12/2024: The Department of the Treasury announces release of a report on 2023 Qualified and Deep Impact Lending of community financial institutions participating in the ECIP.
- 7/12/2024: The ECIP announces a redesigned webpage.
Self-service Resources
Contact Us
Any questions regarding ECIP should be submitted to ecip@treasury.gov.