Racial Equity Commitment Program-To-Date Progress Through 2022 Program Highlights Data provided below is through December 31, 2022. For further details on dollar and unit progress, eligibility criteria, and reporting methodology, see the detailed Racial Equity Commitment data table on our website. Commitment Pillar In Units In Dollars ($M) $18 billion $4 billion toward Aordable Housing for the construction and EXPANDING AFFORDABLE RENTAL HOUSING AND SUPPORT FOR VITAL COMMUNITY INSTITUTIONS Preservation Program rehabilitation of aordable rental housing 16 INTRODUCTION Through our Commercial Term Lending Afordable Housing Preservation Program, provide $10 billion to incentivize the preservation of 100,000 designated afordable housing rental units 169,381 $18,295.8 Expand Commercial Term Lending to government-subsidized afordable housing programs to help preserve an incremental 22,000 units of afordable housing 4,358 $439.8 Fund an incremental $1 billion of construction and rehabilitation of 5,000 afordable housing units for low- and moderate-income households 7,504 $3,884.2 ENVIRONMENTAL Fund an incremental $1 billion of loans and 7,000 afordable rental units through development of Agency and Of-Balance Sheet Lending through government-sponsored enterprise partnerships 1,464 $155.7 Fund an incremental $500 million in New Market Tax Credits (“NMTC”) N/A $312.2 SOCIAL Fund $500 million in long-term investments in Preservation Funds N/A $138.7 17 N/A $1,179.6 $1 billion 14,000 Increase Low Income Housing Tax Credit (“LIHTC”) investments by an incremental $2 billion Feature: Our Racial Equity INCREASING HOMEOWNERSHIP AMONG BLACK, LATINO, AND HISPANIC HOUSEHOLDS INCLUSIVE OF ALL INCOME LEVELS committed in incremental incremental home loans Commitment Low Income Housing Tax refinanced for Black, Originate an incremental 40,000 home loans worth $8 billion, over and above the Firm's 2019 baseline (2,673) $764.7 Credits investments Hispanic and Latino Inclusive Growth homeowners at all Refnance an incremental 20,000 home loans worth $4 billion, over and above the Firm's 2019 baseline 14,240 $3,352.6 household income levels Diversity, Equity and Inclusion GROWING SMALL BUSINESSES Human Capital Provide an incremental $2 billion and 15,000 in loans to businesses in majority-Black and Latino/Hispanic communities, over and above the Firm's 2019 baseline (3,164) $(1,175.9) SPENDING MORE WITH BLACK, HISPANIC AND LATINO SUPPLIERS GOVERNANCE Spend an additional $750 million with Black, Hispanic and Latino suppliers N/A $556.0 IMPROVING FINANCIAL HEALTH AND ACCESS TO BANKING 406,000 146 APPENDICES Help 1 million customers open low-cost checking accounts 406,495 N/A net new low-cost community Open 14 Community Center Branches in underserved communities 13 N/A checking accounts with managers hired no overdraft fees Hire 150 Community Managers 146 N/A Open 100 branches in low- to moderate-income (“LMI”) communities 76 N/A INVESTING IN MINORITY DEPOSITORY INSTITUTIONS AND COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS Provide an incremental $300 million of fnancing to Community Development Financial Institutions (“CDFIs”) N/A $210.6 18 N/A $106.0 Invest $100 million in the form of capital and deposits to Black, Hispanic and Latino-owned or -led MDIs and CDFIs PHILANTHROPY 13 76 Provide $2 billion in philanthropic capital to advance an inclusive economic recovery and support Black, Hispanic, Latino and underserved communities N/A $709.9 Community Center branches opened in low- TOTAL $28,929.8 branches opened to-moderate income areas 16 Borrowers (building owners or operators) in the Preservation Program beneft from a graduated interest rate discount, which facilitates their maintaining rental unit afordability. Afordability targets under the Preservation Program are tiered based on current rent levels of each unit and county area median income. 17 Following the investment of $400 million in 2020, the Firm increased its LIHTC commitment to target an incremental $400 million annually, totaling $2 billion over fve years. This change increased the Firm’s total committed amount toward its Racial Equity Commitment. The increase does not impact the Firm’s other stated commitments. 18 Includes one fnancial institution that provides products and services to MDIs and CDFIs to support Black, Hispanic and/or Latino communities. 27
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