WASHINGTON–The Community Development Financial Institutions Fund (CDFI Fund) said it has updated its Community Development Financial Institution (CDFI) Transactional Level Report Data Point Guidance.
According to Treasury, the new document supersedes the September 2020 publication of the Guidance by revising select provisions from the earlier edition.
“Specifically, revisions have been made to the Guidance related to CDFI loan participations, which do not preclude loan participations made on different dates,” Treasury said. “The rationale for the ‘same date’ loan participation instructions included in previous versions of the Guidance was to avoid counting dollar amounts twice in cases where CDFIs reported the total amount of the loan instead of only their portion or share.”
‘Confusion’ Possible
Saying it recognized the “same date" instruction may have led to confusion, Treasury said the following change has been made to the Transaction Level Report (TLR) instructions: “For loan participations, report ONLY your portion of the loan participation.”
The change, Treasury said, removes the “same date” requirement and is applicable to TLRs due on June 30, 2021 or later.
Treasury said the revised guidance can be accessed on the Compliance and Reporting Resources section of the CDFI Fund’s web site at www.cdfifund.gov.