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Report
The fragility of finances. SF Fed Community Development's David Erickson and Laura Choi sit down with President John Williams to discuss the fragility of American household finances and how to get more families on the road to economic opportunity
Most American households do not have enough savings to pay an unexpected $400 expense, according to a recent Federal Reserve survey. It?s one of the findings we discuss in the new book What It's Worth and one of three distinct stories told by our Community Development team in the 2015 annual report, What We've Learned...and why it matters. Financial insecurity and income volatility affect every facet of life including health, housing, employment, and education. Helping more families get on the road to economic opportunity requires holistic solutions.
Journal Article
The What Works Book Sparked an Ongoing Conversation about Better Interventions for Low-Income Communities
This article explores the origins and themes of the What Works book, with a focus on the history and conceptual framework of the Community Quarterback model. It describes the five elements of the Community Quarterback model, its limitations, and future opportunities for evolution and expanded partnerships.
Journal Article
The secondary market for community development loans
Proceedings of the Conference on the Secondary Market for Community Development Loans. At the Federal Reserve?s September conference in Washington, D.C., one participant remarked, ?There are lakes of capital and lakes of need.? How to channel one to the other was the central question we wrestled with at the two-day conference. This article attempts to capture the major themes and ideas from those discussions. It starts with an overview, then explores why community development finance needs to evolve, and concludes with strategies to achieve next steps.
Speech
Community Development: What Does it Take to Create an Economy that Works for All?
Remarks at Capital Quest: Connecting Capital to Communities (delivered via videoconference).
Journal Article
The struggle to establish a vibrant secondary market for community development loans
Securitization of loans and their sale to long-term investors has revolutionized many areas of finance: real estate, autos, consumer credit; but despite many efforts, it has not taken hold in community development financing. The obstacles to creating a secondary market for community development loans are similar to obstacles other markets faced: lack of data, standardization of documents and loan process, and loan volume. Other markets have managed to overcome these obstacles. Yet despite recent advances, such as Community Reinvestment Fund?s recent issuing of rated securities in November ...
Working Paper
CultureBank: A New Paradigm for Community Investment
Building on the concept of creative placemaking, this paper presents an idea for a Community Development Financial Institution organized around art: CultureBank. Housed at Yerba Buena Center for the Arts, this nonprofit bank will specialize in unleashing asset value in art collections and focus on artists as borrowers, or Artist-Entrepreneurs.