Municipal Public Banking
In October 2021, the Los Angeles City Council passed a unanimous resolution to seek a feasibility study, business plan, and governance model for a public bank in Los Angeles. This move followed the passage of California legislation enabling the charter of public banks (AB857). This joint report series with the Berggruen Institute examines the opportunities and limitations of a public bank in Los Angeles, responding to advocacy demands in affordable housing, small business lending, green energy, and democratic governance with practical lending and investment options. The reports also consider pathways to incorporation and the legal limitations of the bank, with particular attention to the bank’s differentiated value within a broader ecosystem of financial institutions with parallel goals.
For more about this series and the JFI-Berggruen Institute collaboration, read the press release announcement here. Advocates and experts in social finance and public banking also informed these reports, with special thanks to the Public Bank of LA Coalition (PBLA).
In This Series
What a Public Bank Can Do for L.A. and Its People
Municipal Bank of LA: Housing Solutions and Portfolio Options
Municipal Bank of LA: Democratic Governance Frameworks
Municipal Bank of LA: Financial Justice Portfolio Options
Municipal Bank of LA: Clean Energy Portfolio Options
Municipal Bank of LA: Interactive Balance Sheet Simulator
JFI and Berggruen Institute Release Interactive Tool Exploring Impacts of a Public Bank
Digital web app allows anyone to build custom lending portfolios and see projected impacts on affordable housing, green energy, and...
JFI and Berggruen Institute Report: Public Bank Could Significantly Reduce Costs for Green Energy in Los Angeles
Paired with new federal incentives through the Inflation Reduction Act, a public bank could crucially accelerate community and utility-scale renewable...
JFI and Berggruen Institute Report: Public Bank Could Finance Employee-Ownership Transitions for Nearly 1500 LA Workers
Innovative financing mechanisms could help employees purchase small businesses from “a silver tsunami” of retiring owners, generating wealth for buyers,...
Press release: People’s assemblies should govern public banks
A new report from JFI and the Berggruen Institute's Municipal Public Banking series
JFI and Berggruen Institute Report: Public Bank Could Finance Over 17,000 Affordable Homes in Los Angeles
Press release: Latest in publication series on public banking shows how low-cost city programs can help protect and expand affordable...
CBS covers JFI and Berggruen’s Public Banking report
On the first working paper in a series covering public banking in Los Angeles.
Press Release: JFI and Berggruen Institute Launch Series on Practical Pathways to Public Banking
Forthcoming publications lay out playbook for how a publicly-owned bank could unlock solutions to Los Angeles’ pressing challenges; new digital...