ANNOUNCEMENTS
4/18/2024: The ECIP announces it will hold webinars regarding qualification for rate reductions and upcoming payments from participants to Treasury. Sessions will be held on April 30th and May 2nd. Representatives of each of the 121 institutions that had investment closings by June 15, 2022 are strongly encouraged to attend one of these sessions. Read more on the payments process webinars here.
11/21/2023: Form of Process and Controls Attestation of Independent Auditor: Proposed Revision
11/21/2023: ECIP invites comments on a draft revised Form of Process and Controls Attestation of Independent Auditor. Participants that may be subject to the requirement to submit this attestation are encouraged to share this draft with their auditors for their review. See directions to submit comments. The ECIP team will offer a webinar to familiarize Independent Auditors with the Quarterly Supplemental Report and to answer questions regarding the procedures.
7/25/2023: Treasury announces webinars to demonstrate how to submit the Quarterly Supplemental Report. See session information here.
7/20/2023: QSR Instructions for IDIs and Holding Companies
7/20/2023: QSR Instructions for Credit Unions
7/19/2023: Form of Process and Controls Certification: Archived Version
7/19/2023: Form of Interim Final Rule Certification: Archived Version
7/19/2023: Form of Process and Controls Attestation of Independent Auditor: Archived Version
7/19/2023: Treasury announces release of final lending reporting guidance including (1) Quarterly Supplemental Report (QSR) instructions and forms, (2) instructions for submission of Initial Supplemental Reports in certain merger and acquisition events; (3) rerelease of annual certifications; and (4) the Impact Highlight report form. Participating institutions are required to submit QSRs in accordance with the chart below. (Updated submission guidance for future QSR's will be posted here.)
Period of Activity | Schedules Required | Report Due Date |
| Closing Date - June 30, 2022 | A & B | Thursday, 8/17/2023. |
| July 1, 2022 - September 30, 2022 | A & B | Thursday, 8/17/2023. |
| October 1, 2022 - December 31, 2022 | A & B | Thursday, 8/17/2023. |
| Closing Date - December 31, 2022 Annual Report | C & D (for 2022 lending) | Thursday, 8/17/2023. |
| January 1, 2023 - March 30, 2023 | A & B | Friday, 9/1/2023. |
| April 1, 2023 – June 30, 2023 | A & B | Friday, 9/1/2023. |
6/28/2023: Announcement Regarding Waiver of the Auditor Attestation - Fiscal Year 2022
6/27/2023: Announcement Regarding Submission Extension of QSR Submission Deadline.
6/5/2023: Treasury announces rescindment of funding for round 2 applicants. The Consolidated Appropriations Act, 2021, authorized the establishment of ECIP to make capital investments in low-income and moderate-income community financial institutions to support the efforts of these institutions to, among other things, provide loans, grants, and forbearance for small businesses, minority-owned businesses, and consumers, especially in low-income and underserved communities, including persistent poverty counties, that may be disproportionately impacted by the economic effects of the COVID–19 pandemic. In December 2021, Treasury announced awards for all funding available for investment. Some awardees declined all or part of the investments that they were offered. On December 2, 2022, Treasury opened a second application round to distribute funding that remained available for investment. The Fiscal Responsibility Act of 2023, which was enacted on June 3, 2023, rescinded the funding that was available for this second round. As a result, Treasury is unable to fund any round 2 applicants. Please contact ecip@treasury.gov if you have any questions.
6/5/2023: Updated Quarterly Supplemental Report data was released.
6/5/2023: ECIP Program Portal rebranded ECIP IMPACT Portal.
4/6/2023: Interim Reporting Guidance – Information on how to submit various reports.
3/27/2023: The Department of the Treasury updated its announcement from September 21, 2022 to reflect it has made over $8.38 billion of investments in 170 community financial institutions across the country through the Emergency Capital Investment Program (ECIP). These funds will support the efforts of community financial institutions to provide loans, grants, and other assistance to small and minority-owned businesses and consumers, especially in low-income and financially underserved communities that struggled during the COVID-19 crisis. Read the September 21, 2022 press release here.
- View the full list of ECIP participants here.
- View a state-by-state breakdown of ECIP participants.
- Treasury’s implementation of ECIP was assisted by its financial agents CastleOak Securities, L.P. and Piper Sandler & Co, which provided advisory services, analysis, and advice related to Treasury’s investments in eligible ECIP applicants. The Bank of New York Mellon serves as Treasury’s custodian and financial agent. Sullivan & Cromwell LLP has served as Treasury’s legal agent for ECIP.
12/2/2022: Treasury announces second application round.
The U.S. Department of the Treasury (Treasury) announces that it has opened a second application round for investment in qualified financial institutions through the Emergency Capital Investment Program (ECIP). The ECIP anticipates that between approximately $160 million and $340 million will be available for investment in the second round.
Treasury will prioritize applicants that (i) were ineligible to apply in the first round of funding but later became eligible to participate in ECIP; or (ii) serve geographies that are relatively underserved by recipients in the first round of funding; and (iii) show a strong track record demonstrating the capacity to execute the lending plan, including the quality of the data provided in Question 1 of the ECIP application related to lending to low- and moderate-income or minority individuals. Among prioritized applicants, Treasury intends to allocate funding to institutions that are assessed to have a higher capacity to execute its Emergency Investment Lending Plan and are more responsive to community needs, as determined using the factors outlined in the Application and Lending Plan Evaluation Form.
Applications are due January 31, 2023 at 11:59 PM ET.
12/14/2022: ECIP Federal Register Notice of Availability Web Version, ECIP Federal Register Notice of Availability PDF
12/2/2022: Second Round Application Form
12/2/2022: Second Round Application FAQs
12/2/2022: Second Round User Guide for Application Submission
7/21/2022: Advisory for Program Participants - As noted in the draft instructions for the Quarterly Supplemental Report (QSR), “the first Quarterly Supplemental Report will not be due until the effective date of [the] reporting forms.” The QSR will not be effective, and therefore the first QSR will not be due, until at least after the end of the QSR comment period and Office of Management and Budget review. Treasury expects that quarterly supplemental reporting will not begin any earlier than January 2, 2023.
6/30/2022: Treasury announces publication of a Federal Register Notice inviting comments on the proposed Quarterly Supplemental Report data collection. Comments due by August 29, 2022.
6/30/2022: QSR Instructions for IDIs and Holding Companies - PRA comment period version
6/30/2022: QSR Schedules A- D – Forms for IDIs and Holding Companies – PRA comment period version
6/30/2022: QSR Instructions for Credit Unions - PRA comment period version
6/30/2022: QSR Schedules A- D – Forms for Credit Unions – PRA comment period version
6/30/2022: Treasury announces publication of a Federal Register Notice inviting comments on the proposed Quarterly Supplemental Report data collection. Comments due by August 29, 2022.
4/1/2022: Treasury posts final Initial Supplemental Report (ISR) documents, datasets, and ISR FAQ.
3/29/2022: 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.
2/2/2022: Treasury releases preview copies of legal documents.
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
3/4/2021: Treasury launched the ECIP. Read the Press Release