Modeled after the preceding mitigation banking concepts for wetlands and streams, species and habitat conservation banking started gaining traction in the early 1990s. AMC closely monitors emerging markets for species and habitat banking, which establishes protected lands for the conservation of endangered and at-risk species and functions as a mechanism for off-site mitigation through the selling of approved credits. The species and habitat conservation process is regulated by the USFWS and NMFS, with a handful of states having their own endangered species laws (California Endangered Species Act, as an example). Species and Habitat Conservation banking sets up an open market opportunity that creates incentives for bank developers and landowners to conserve land in areas where drivers are creating a need for offset impacts to specific species and habitats. Increased development resulting in species or habitat “take” is the biggest driver for market demand.