Today, the FDIC released new information about the Mission-Driven Bank Fund.The goal of the Fund is to provide private investors (corporations, financial institutions and philanthropic organizations) with an opportunity to support CDFI and MDI banks. These mission-driven banks will be invited to make pitches to the Fund for potential investments in a wide variety of asset classes including equity, loan participations, loss share agreements, CDs, term debt, and advisory services. The Fund currently has commitments of $120 million and growing. The anchor investors, Microsoft and Truist, are getting ready to issue a solicitation for the Fund Manager in the coming weeks, and more investors are expected to join on. The goal is to onboard the Fund Manager in the 4th quarter, so that FDIC-insured CDFIs and MDIs can submit individual pitches in the 1st quarter of 2022. Questions regarding this program should be directed to MissionDrivenFund@fdic.gov.