A conservation or mitigation bank is privately or publicly owned land managed for its natural resource values. In exchange for permanently protecting, managing, and monitoring the land, the bank sponsor is allowed to sell or transfer habitat credits to permitees who need to satisfy legal requirements and compensate for the environmental impacts of developmental projects.Conservation (Endangered Species) BankingA conservation bank generally protects threatened and endangered species and habitat. Credits are established for the specific sensitive species that occur on the site. Conservation banks help to consolidate small, fragmented sensitive species compensation projects into large contiguous preserves which have much higher wildlife habitat values. Other agencies that typically participate in the regulation and approval of conservation banks are the U.S. Fish and Wildlife Service and National Oceanic and Atmospheric Administration-National Marine Fisheries Service.Mitigation (Wetlands) BankingA mitigation bank protects, restores, creates, and enhances wetland habitats. Credits are established to compensate for unavoidable wetland losses. Use of mitigation bank credits must occur in advance of development, when the compensation cannot be achieved at the development site or would not be as environmentally beneficial. Mitigation banking helps to consolidate small, fragmented wetland mitigation projects into large contiguous preserves which will have much higher wildlife habitat values. Mitigation banks are generally approved by the California Department of Fish and Wildlife, U.S. Fish and Wildlife Service, the U.S. Army Corps of Engineers, and the U.S. Environmental Protection Agency.