WASHINGTON—The Federal Reserve will host a webinar on the Treasury Department's Emergency Capital Investment Program (ECIP) through its "Ask the Fed" program on Aug. 12.
According to the Fed, the webinar will provide a comprehensive review of the program and will feature Treasury representatives who will outline how program applicants should incorporate new changes into their applications.
The webinar is scheduled to begin at 2 p.m. ET; registration is now open. Participants can email questions in advance to questions@askthefed.org.
The ECIP – established under the Consolidated Appropriations Act of 2021 – will provide up to $9 billion in capital to minority depository institution (MDIs) and community development financial institutions (CDFI) banks and credit unions to support small businesses and consumers facing financial hardships amid the pandemic via loans, grants, and forbearance.
Treasury said it is currently in the process of issuing updates, amendments, and new guidance on the program.