ECIP Quarterly Supplemental Reporting: Updates and Clarifications (Jan 2024)
Summary
An email from the ECIP Team to ECIP Participants on the Quarterly Supplemental Reporting process, introducing revised QSR Instructions, a revised QSR Template and technical assistance. It lists three changes: the Deep Impact Lending category "Underserved Small Business" becomes "Underserved Business," the "Qualified PWI" definition is expanded to projects benefitting Minority borrowers or businesses, and participants will submit 5 QSR reports for each year of data. The email gives due dates from Q4 2023 (January 31, 2024) through Q1 2025 and a schedule of quarterly office hours. It states that beginning with Q3 2024, a QSR will be considered inaccurate and incomplete if the participant is not collecting sufficient demographic data.
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Cite this document
“ECIP Quarterly Supplemental Reporting: Updates and Clarifications (Jan 2024).”
Original at home.treasury.gov. Archived at Pandemic Darlings, https://pandemicdarlings.com/source-documents/treas-qsr-reporting-updates-and-clarifications-jan-2024-689607d8b5/
, SHA-256 f55f7f0b4e336180e4d412e070b896f052fc45040bda9a6f7cd75e3b004caa06.Full text
Dear ECIP Participants:
We are reaching out regarding the Quarterly Supplemental Reporting process, and tools which will be
available going forward to make the process clearer for everyone. Apologies in advance for the lengthy,
but information-dense email. The body of this email is also included as an attached PDF for your
records.
The ECIP Team greatly appreciates the hard work of all the Participants to submit timely Quarterly
Supplemental Reports. Based on our experience in 2023, we are introducing updated instructions,
templates, and expanding technical assistance resources.
• QSR Instructions: A revised version of the QSR Instructions will be available on the ECIP website
and IMPACT Portal in the coming days. These new documents contain more thorough and clear
instructions, and more illustrative examples of how various loan types would be entered into
the QSR.
While the vast majority of the updates to these documents are simply clarifications, there are
three important changes to the instructions:
1. The Deep Impact Lending category of “Underserved Small Business” is now simply called
“Underserved Business”. The definition of this category remains the same.
2. The definition of the category “Qualified PWI” has been explicitly expanded. In addition
to projects benefitting LMI borrowers and communities (the previous definition),
projects benefitting Minority borrowers or businesses will also qualify as Qualified PWI.
This definition now explicitly ensures that all Qualified PWI encompasses all Deep
Impact PWI as well.
3. Participants will submit 5 QSR reports (5 Excel files) for each year of data, 4 quarterly
reports with Schedule A & B data, and one annual report with Schedule C & D data. The
reports will be labeled by quarter and “Annual” in the IMPACT portal. Upcoming
reporting due dates are outlined below:
Period Covered Schedules to Submit Due Date
Q4 2023 A&B January 31, 2024
Annual 2023 C&D April 30, 2024
Q1 2024 A&B April 30, 2024
Q2 2024 A&B July 31, 2024
Q3 2024 A&B October 31, 2024
Q4 2024 A&B January 31, 2025
Annual 2024 C&D April 30, 2025
Q1 2025 A&B April 30, 2025
• QSR Template: We have created a revised version of the QSR Template, which must be used for
the QSRs due 1/31/2024 and all QSRs going forward. The new templates can be found here:
CU: ECIPQSRExcelTemplateCU-2.0-v4.xlsx (live.com)
BHC: ECIPQSRExcelTemplateBHC-2.0-v4.xlsx (live.com)
This new template will look almost indistinguishable from the template you are already using, as
the vast majority of the updates are hidden tools incorporated into the template which allow for
more efficient reviews of the QSRs.
Therefore, it is paramount that you assure you have downloaded the updated template when
you begin working on your 2023 Q4 QSRs due 1/31/2024. An easy way to identify if you are
using the new version of the template will be the presence of a “Rubric” as the first tab in the
Excel. This tab lists some of the data validation checks we complete on the QSR once it is
submitted so that you may check them yourself. The new template is available to download on
the ECIP website at the link above, and will be available to download within the IMPACT portal.
• Explanatory Video: We recorded a short video which explains the categories of Qualified
Lending and Deep Impact Lending and reviews how to complete the QSR. This video is available
on the ECIP website, and here: https://youtu.be/CtMjd9E88u0
• QSR Office Hours: The team will also host quarterly office hours over Zoom to review the QSR
instructions and take questions from participants. These office hours will be held twice per
quarter, several weeks before each QSR submission deadline. The schedule of office hours for
2024 can be found below:
Quarter Date Zoom Link
Tuesday January 9, https://ustreasury.zoomgov.com/j/1613164849
10:00am Eastern
Q1 2024
Thursday January 11, https://ustreasury.zoomgov.com/j/1606911402
2:00pm Eastern
Tuesday April 9, 10:00am
Eastern
Q2 2024 Forthcoming
Thursday April 11,
2:00pm Eastern
Tuesday July 9, 10:00am
Eastern
Q3 2024 Forthcoming
Thursday July 11, 2:00pm
Eastern
Tuesday October 8,
10:00am Eastern
Q4 2024 Forthcoming
Thursday October 10,
2:00pm Eastern
We’d also like to take this opportunity to remind you that per Section I.G of the QSR Instructions:
• In the Narrative uploaded with the QSR, you must also include a description of yours plans to
implement sufficient demographic data collection systems and your progress in implementing
those plans. The narrative must also include an estimate of the number and dollar value of
originations of loans or investments during the reporting period for which demographic data
was not collected, expressed as a percentage of Total Originations as reported on Schedule A.
• For each QSR through the report for Q2 2024, Treasury will not consider the QSR to be
inaccurate or incomplete solely on the basis of a lack of demographic data. Beginning with the
QSR covering Q3 2024, Treasury will consider a QSR to be inaccurate and incomplete if the
Participant is not collecting sufficient demographic data to enable them to complete all the
fields and schedules in the Quarterly Supplemental Report.
Happy New Year, and happy data reporting!
ECIP Team
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- Original
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