Pulse Survey: Mission-Driven Banker Feedback to Gauge In

OMB Control No. 3064-0198

Expiration Date: January 31, 2024

Pulse Survey:

Mission-Driven Banker Feedback to Gauge Interest in Accessing Partnership Resources through Participation in the 2021 Money 20/20 Conference

PRA Burden Statement

An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information unless it displays a currently valid Office of Management and Budget (OMB) control number. The FDIC “Pulse Survey: Mission-Driven Banker Feedback to Gauge Interest in Accessing Partnership Resources through Participation in the 2021 Money 20/20 Conference” constitutes a collection of information under the Paperwork Reduction Act which has been cleared by OMB under Control Number 3064-0198 (expiration date January 31, 2024). Public reporting burden for this information collection is estimated to be 10 minutes per respondent. You can send comments regarding this burden estimate or any other aspect of this information collection, including suggestions for reducing the burden, to the Paperwork Reduction Act Clearance Officer, Legal Division, Federal Deposit Insurance Corporation, 550 17^th Street NW, Washington, DC 20429; and to the Office of Management and Budget, Paperwork Reduction Project (Re: Control Number 3064-0198), Washington DC 20503.

The FDIC works to fulfill statutory goals to preserve and promote FDIC-insured minority depository institutions (MDIs) and also supports preservation of FDIC-insured Community Development Financial Institutions (CDFIs). Together, these MDIs and CDFIs are considered mission-driven banks.

The FDIC is facilitating the establishment of a “Mission-Driven Bank Fund,” that will provide a vehicle for private sector investment in FDIC-insured mission-driven banks. Investments through the Mission-Driven Bank Fund can help these banks build size, scale, and capacity to better serve their communities, which include minority, low-income, and rural communities.

The FDIC developed a framework, structure and concept of operations for the Mission-Driven Bank Fund. The FDIC is now in the process of working with two anchor investors who, along with other investors, will own the fund. The creation of the fund supports the FDIC’s commitment to preserving and promoting mission-driven banks. The FDIC will retain an advisory role to support the fund’s mission focus, but will not contribute capital to, manage, or be involved in investment decisions of, the fund.

The fund will provide a variety of forms of support to mission-driven banks, including equity investments, loan participations, loss-share arrangements, debt, and other types of support. Private investors will own the fund, and they are hiring a fund manager to consider and underwrite investments based on pitches from mission-driven banks for the types of support noted above.

As part of the launch of the Fund, the FDIC and one of the Fund’s anchor investors, Truist Bank, will sponsor an engagement initiative at the 2021 Money 20/20 conference in Las Vegas, NV, which will also feature the opportunity for mission-driven banks to access financial technology knowledge, resources, and connections to investors and potential partners.

The FDIC is conducting a brief pulse survey to determine potential interest in participating in the engagement activities at the conference:

Bank Name

Bank Headquarters City, State

Name of Banker Responding

• I’ve attended Money 20/20 conferences in the past.

• I plan to attend the Money 20/20 conference in October 2021.

• I don’t plan to attend the Money 2020/conference in October 2021.

• I may consider attending if the conference fee is subsidized.