Emergency Capital Investment Program

Supporting the Efforts of Low- and Moderate-Income Community Financial Institutions

Established by the Consolidated Appropriations Act, 2021, the Emergency Capital Investment Program (ECIP) was created to encourage low- and moderate-income community financial institutions to augment their efforts to support small businesses and consumers in their communities.

Under the program, Treasury will provide up to $9 billion in capital directly to depository institutions that are certified Community Development Financial Institutions (CDFIs) or minority depository institutions (MDIs) to, among other things, provide loans, grants, and forbearance for small businesses, minority-owned businesses, and consumers, especially in low-income and underserved communities, that may be disproportionately impacted by the economic effects of the COVID-19 pandemic.  Treasury will set aside $2 billion for CDFIs and MDIs with less than $500 million in assets and an additional $2 billion for CDFIs and MDIs with less than $2 billion in assets.  

 

Announcements


4/22/2022 (new): Treasury posts preview versions of the Quarterly Supplemental Report Instructions and Templates in advance of opening of public comment period.
4/1/2022 (new): Treasury posts final Initial Supplemental Report (ISR) documents, datasets, and ISR FAQ.
3/29/2022 (new): Treasury posts final versions of legal documents and Legal FAQ.
3/16/2022 - Today Treasury extended the deadline to respond to the ECIP program request for confirmation of participation to Monday, April 4, 2022.  Treasury will accept changes to previously-submitted forms prior to April 4th.  Please email ecip@treasury.gov to have a form reopened.

2/25/2022 – ECIP Webinar Slides on Legal Agreements and Draft Initial Supplemental Report

2/15/2022 – Treasury posted to this webpage draft Initial Supplemental Report forms and instructions for review and comment.  Participants in the Emergency Capital Investment Program are required to calculate and provide their baseline amount of qualified lending through an Initial Supplemental Report.  This baseline will be used to calculate the dividend or interest rates applicable to each participant in accordance with the Rate Reduction Incentive Guidelines and the ECIP legal agreements.  Treasury welcomes comments regarding the draft Initial Supplemental Report forms and instructions.  Further, Treasury welcomes comments on the estimated burden, time, and cost to complete the reports.  Please submit comments and questions regarding these drafts by emailing ECIP@treasury.gov. The deadline for providing comments is on Monday, February 28, 2022.  For more information, see the Reporting Resources section on this page.

02/02/2022: Treasury releases preview copies of legal documents.

 

Resources

ECIP Program Portal

Read detailed instructions on how to register with ID.me

Legal Documents 

For questions and concerns regarding legal documents, send an email to ecip@treasury.gov. Legal documents posted here are for information purposes only.

Senior Preferred

3/29/2022 (new): Senior Preferred - Securities Purchase Agreement
3/29/2022 (new): Senior Preferred - Securities Purchase Agreement - Blackline
3/29/2022 (new): Senior Preferred - Certificate of designations
3/29/2022 (new): Senior Preferred - Certificate of designations - Blackline
3/29/2022 (new): Senior Preferred - Letter Agreement
3/29/2022 (new): Senior Preferred - Letter Agreement - Blackline
8/11/2021: Senior Preferred Term Sheet

Credit Unions

3/29/2022 (new): Credit Unions - Securities Purchase Agreement
3/29/2022 (new): Credit Unions - Securities Purchase Agreement - Blackline
3/29/2022 (new): Credit Unions - Form of Subordinated
3/29/2022 (new): Credit Unions - Form of Subordinated Securities - Blackline
3/29/2022 (new): Credit Unions - Letter Agreement
3/29/2022 (new): Credit Unions - Letter Agreement - Blackline
8/11/2021: Subordinated Debt Term Sheet for Credit Unions
 

Mutuals and S Corporations

3/29/2022 (new): Mutuals and S Corp - Security Purchase Agreement
3/29/2022 (new): Mutuals and S Corp - Security Purchase Agreement - Blackline
3/29/2022 (new): Mutuals and S Corp - Form of Subordinated Securities
3/29/2022 (new): Mutuals and S Corp - Form of Subordinated Securities - Blackline
3/29/2022 (new): Mutuals and S Corp - Letter Agreement
3/29/2022 (new): Mutuals and S Corp - Letter Agreement - Blackline
8/11/2022: Subordinated Debt Term Sheet for Mutual Institutions and S Corporations
 

3/29/2022 (new): Legal FAQs

Rate Reduction Incentive Guidelines 

Interim Final Rule - ECIP Restrictions on Executive Compensation, Share Buybacks, and Dividends

Reporting Resources

Initial Supplementary Report (ISR) - Qualified Lending Baseline 

Participants in the Emergency Capital Investment Program are required to calculate and provide their baseline amount of qualified lending through an Initial Supplemental Report.  This baseline will be used to calculate the dividend or interest rates applicable to each participant in accordance with the Rate Reduction Incentive Guidelines and the ECIP legal agreements. Participants will be required to submit their Initial Supplemental Report 10 business days before closing their investment and receiving their funding. 
 

IDIs and Holding Companies

4/1/2022 (new): ISR Instructions for IDIs and Holding Companies
4/1/2022 (new): Schedule A Summary Baseline Report Form for IDIs and Holding Companies
4/1/2022 (new): Schedule B Disaggregated Baseline Report Form for IDIs and Holding Companies

 

Credit Unions

4/1/2022 (new): ISR Instructions for Credit Unions
4/1/2022 (new): Schedule A Summary Baseline Report Form for Credit Unions
4/1/2022 (new): Schedule B Disaggregated Baseline Report Form for Credit Unions

 

Initial Supplementary Report Datasets

The following sources provide tools to geocode addresses:
Federal Financial Institution Examination Council: FFIEC Geocoder link
Census Bureau: Census Bureau Geocoder link

Area Median Income Dataset
Metropolitan and Non-metropolitan Counties Dataset*
    *Rural Communities are counties designated “Non-Metro” in this dataset.
Minority Communities Dataset
Persistent Poverty Counties Dataset
Underserved Communities Dataset
Urban Low-Income Communities Dataset

Tip: Using the FFIEC geocoder, when set to Year=2020, will accurately provide the following data points – census tract median family income, MSA or non-MSA median family income (Area Median Income), pct. of median family income compared to either the MSA or non-MSA median family income, as appropriate (Urban Low-income Communities), and percentage of census tract that are Minorities to compute census tracts that are Minority Communities.

Other ISR Resources

4/1/2022 (new): ISR Reporting FAQ 
4/6/2022 (new): User Guide for Submission of the Initial Supplemental Report

 

Quarterly Supplemental Report

4/22/2022 (coming soon) – Paperwork Reduction Act Notice of Treasury Collection of Comments on Proposed Quarterly Supplemental Report

IDIs and Holding Companies

4/22/2022 (new): Preview Copy: QSR Schedules A – D Forms for IDIs and Holding Companies*

Credit Unions

4/22/2022 (new): Preview Copy: QSR Instructions for Credit Unions
 

 

Contact Us

ECIP Program questions or technical assistance should be directed to ecip@treasury.gov.  All emails will be answered within one business day.

Archives

12/14/2021: List of Financial Institutions Approved to Receive ECIP Investments

10/18/2021: ECIP Demand Announcement

8/31/2021: Hurricane Ida Impacted ECIP Applicants – Treasury accepting requests for extension to submit applications. Read the Public Notice.

8/20/2021: Application Instructions and Materials

8/20/2021: ECIP Revised and Expanded FAQs

8/11/2021: Application Instructions and Materials (Changes Highlighted)

8/11/2021: Application and Lending Plan Evaluation Factors 

03/04/2021: Treasury launched the ECIP. Read the Press Release