NR 2000-31
FOR IMMEDIATE RELEASE                                          
Contact:  Janis Smith (202) 874-5770
May 4, 2000                                                                          

                                    
OCC Announces New Community Development Resources for
Bankers

WASHINGTON, D.C. -- The Office of the Comptroller of the Currency
(OCC)has published "Effective Strategies in Community Development
Finance and a Community Development Resource Guide," featuring
strategies that have helped selected national banks engage in
community development (CD) finance, with an annotated compendium
of approximately 145 resources providing information on community
development programs and tools. 

"The publication of these volumes complements the OCC's ongoing
work in support of fair access to financial services and
addresses questions we've heard from national banks about CD
finance practices," said Ralph Sharpe, Deputy Comptroller for
Community and Consumer Policy.  "These publications are intended
to assist financial institutions that are embarking on broad-scale 
CD lending and investment programs," he added.

To better understand this growing commercial bank activity the
OCC conducted a study of practices employed by 10 national banks
in support of affordable mortgage lending, affordable multifamily
housing finance, and direct small business lending.  OCC staff
also conducted extensive research into major government and
secondary market programs and other resources that may help
respond to the credit needs of  communities.  The new OCC
publications detail the methodology and results of the study, and
the associated research.  

The "Effective Strategies" publication and accompanying "CD
Resource Guide" are available for downloading from the OCC's
Internet site at http://www.occ.treas.gov/cdd/strategy.pdf and
http://www.occ.treas.gov/cdd/resources.pdf.  Copies are also
available for purchase as a set for $15.  To purchase copies of
the publications, please contact the Communications Division at
(202) 874-4960.
                                  

The OCC charters, regulates, and examines approximately 2,400 
national banks and 58 federal branches and agencies of foreign 
banks in the United States, accounting for 57 percent of the 
nation's banking assets.  Its mission is to ensure a safe, 
sound, and competitive national banking system that supports the
citizens, communities, and economy of the United States.