Our CFO has an opportunity to bid on some CRA qualified investments. He wants to know how much the CRA aspect is "worth." In other words, if we normally expect an X% rate of return on an investment, how much of a discount on the return should we expect (or bid) based on the CRA nature of the investment?

Does anyone have a rule of thumb on this? Thanks!

Some would argue you should get a premium on the return given the higher risks associated with the underlying collateral....