The purpose of the Bank of China (BOC) Capstone project is to help BOC to design a community development roadmap that can both meet the BOC’s and the Community Reinvestment Act (CRA)  requirements as well as provide the most benefits to the local low- and moderate-income communities. Based on the research on regulatory requirements, peer bank CRA performance and impacts on the communities, the project will identify the most cost-effective manner to meet its CRA requirement. This needs to be determined keeping in mind BOC’s position as a wholesale bank in New York, surrounded by the biggest U.S. institutions all looking to make investments in the area. Beyond the credit received for CRA, Bank of China would like to understand specifically what is the CRA activities’ impact within the community.   For investments, Bank of China would like to determine if investing in low income housing tax credits (LIHTC) has better value (not only to the Bank, but also on the community) than purchasing municipal bonds (supporting low income housing).