Contact: Carol Eckert, (415) 977-3853

TOP REGULATORS TO SPEAK AT SF FED'S
COMMUNITY REINVESTMENT CONFERENCE

SAN FRANCISCO, April 5, 2000 -- More than 350 community development professionals from around the nation and bankers from throughout the western states are expected attend the Community Reinvestment Conference 2000 at the Palace Hotel in San Francisco, April 17-19.

Organized by the Federal Reserve Bank of San Francisco in cosponsorship with the Federal Deposit Insurance Corporation, the office of Thrift Supervision, and the Office of the Comptroller of the Currency, the Community Reinvestment Conference focuses on increasing investment lending and community development opportunities in low- and moderate-income communities.

The opening general session, starting at 10 a.m. on Monday, April 17, features a lineup of powerful speakers who are expected to address issues such as predatory lending, financial literacy, the digital divide, achieving social and economic equity, and other Community Reinvestment Act challenges. Speakers include: Ellen Seidman, Director, Office of Thrift Supervision; Angela Glover Blackwell, President of PolicyLink; and Donna Tanoue, Chairman of the Federal Deposit Insurance Corporation.

Federal Reserve Governor Edward M. Gramlich will deliver a luncheon address entitled "New Challenges for Community Development."

Along with technical sessions, the conference also offers case studies and tours of two areas revitalized by public/private partnerships. On Monday afternoon, April 17, participants can take a bus trip to Eastmont Town Center, a 32-acre mixed-use development in Oakland that was revitalized after almost ten years of deterioration. On Tuesday afternoon, those interested in viewing revitalization in San Francisco's Tenderloin district can take a walking tour of several successful neighborhood services facilities there.

The Federal Reserve Bank of San Francisco (FRBSF) organizes a Community Reinvestment Conference every other year, bringing regulators, bankers, and community development professionals together to provide technical expertise, stimulate dialogue, and share innovative ideas--all aimed at increasing investments in low- to moderate-income communities. As the nation's central bank, the Federal Reserve System formulates monetary policy, serves as a bank regulator, administers consumer protection laws, and is fiscal agent for the U.S. government.

The Federal Reserve Bank of San Francisco serves the largest District in the Federal Reserve System, providing wholesale banking services to financial institutions in nine western states through its head office in San Francisco and branch offices Los Angeles, Portland, Seattle and Salt Lake City. Under delegated authority from the Federal Reserve Board of Governors, the FRBSF regulates bank holding companies, state-chartered member banks, and various international banking operations in its District, and issues Community Reinvestment Act (CRA) ratings for the banks within its purview.