Notice2021-19865
Notice of Information Collection and Request for Public Comment
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
September 15, 2021
Issuing agencies
Treasury DepartmentCommunity Development Financial Institutions Fund
Abstract
The U.S. Department of the Treasury, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to take this opportunity to comment on proposed and/or continuing information collections, as required by the Paperwork Reduction Act of 1995. Currently, the Community Development Financial Institutions (CDFI) Fund, a wholly owned government corporation within the Department of the Treasury, is soliciting comments concerning the CDFI Bond Guarantee Program's information collection. The CDFI Bond Guarantee Program proposes minor revisions to the existing approved forms and is seeking approval for a Tertiary Loan Monitoring (TLM) Report.
Full Text
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<title>Federal Register, Volume 86 Issue 176 (Wednesday, September 15, 2021)</title>
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[Federal Register Volume 86, Number 176 (Wednesday, September 15, 2021)]
[Notices]
[Pages 51445-51446]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2021-19865]
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DEPARTMENT OF THE TREASURY
Community Development Financial Institutions Fund
Notice of Information Collection and Request for Public Comment
ACTION: Notice and request for comments.
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SUMMARY: The U.S. Department of the Treasury, as part of its continuing
effort to reduce paperwork and respondent burden, invites the general
public and other Federal agencies to take this opportunity to comment
on proposed and/or continuing information collections, as required by
the Paperwork Reduction Act of 1995. Currently, the Community
Development Financial Institutions (CDFI) Fund, a wholly owned
government corporation within the Department of the Treasury, is
soliciting comments concerning the CDFI Bond Guarantee Program's
information collection. The CDFI Bond Guarantee Program proposes minor
revisions to the existing approved forms and is seeking approval for a
Tertiary Loan Monitoring (TLM) Report.
DATES: Written comments should be received on or before November 15,
2021 to be assured of consideration.
ADDRESSES: Direct all comments to Susan Suckfiel, CDFI Bond Guarantee
Program Manager, at the Community Development Financial Institutions
Fund, U.S. Department of the Treasury, at <a href="/cdn-cgi/l/email-protection#dbb9bcab9bb8bfbdb2f5afa9bebaa8f5bcb4ad"><span class="__cf_email__" data-cfemail="a0c2c7d0e0c3c4c6c98ed4d2c5c1d38ec7cfd6">[email protected]</span></a>.
FOR FURTHER INFORMATION CONTACT: You may request a copy of the Tertiary
Loan Monitoring Report and current information collection by emailing
Susan Suckfiel, CDFI Bond Guarantee Program Manager, at
<a href="/cdn-cgi/l/email-protection#bbd9dccbfbd8dfddd295cfc9dedac895dcd4cd"><span class="__cf_email__" data-cfemail="6f0d081f2f0c0b0906411b1d0a0e1c41080019">[email protected]</span></a>. Requests for additional information should be
directed to Susan Suckfiel, CDFI Bond Guarantee Program Manager, at the
Community Development Financial Institutions Fund, U.S. Department of
the Treasury, 1500 Pennsylvania Avenue NW, Washington, DC 20220, (202)
653-0421, option 5 (not a toll-free number), or by email to
<a href="/cdn-cgi/l/email-protection#45272235052621232c6b31372024366b222a33"><span class="__cf_email__" data-cfemail="67050017270403010e49131502061449000811">[email protected]</span></a>.
SUPPLEMENTARY INFORMATION: The information collection currently
includes the following applications and reports: (1) Qualified Issuer
Application (including, Appendix QI-2E), (2) Guarantee Application
(including, Appendices A-2A, A-2C, and B-ID), (3) Secondary Loan
Requirements Certification, (4) Financial Condition Monitoring (FCM)
Report, (5) Pledged Loan Monitoring (PLM) Report, (6) Annual Assessment
Report, and (7) Secondary Loan Commitment Form. Regarding the minor
edits, for the Pledged Loan Monitoring Report, there is an additional
field, column (14f) the `Pledged Loan Date'; also, several unused
fields were removed. For the Secondary Loan Commitment Form, the
following additional rows were added to the signature line: Bond
Identifier, Reviewing Official Name, and Approving Official Name. The
Guarantee Application was updated to reflect a new year (2021)
application round and new application deadlines. The minor revisions to
the Guarantee Application are: the addition of a clarifying paragraph
regarding applications which are deferred until a subsequent
application round, updated AMIS charts and instructions, a reference to
the new sample template to the Term Sheet, and the deletion of
references to additional collateral requirements and third party
support that are no longer applicable. Lastly, the Qualified Issuer
application received the following minor updates: references to a new
year (2021) application round, new application deadlines, and AMIS
charts and instructions. The proposed Tertiary Loan Report will provide
the CDFI Fund with information to monitor this type of collateral for
the program that otherwise is not collected.
The total information collection: (1) Qualified Issuer Application,
(2) Guarantee Application, (3) Secondary Loan Requirements
Certification, (4) Financial Condition Monitoring Report, (5) Pledged
Loan Monitoring Report, (6) Tertiary Loan Monitoring Report, (7) Annual
Assessment Report, and (8)
[[Page 51446]]
Secondary Loan Commitment Form) will encompass OMB Control Number 1559-
0044.
Title: CDFI Bond Guarantee Program Secondary Loan Commitment Form
required by 12 CFR part 1808.101(d)(1)(2).
OMB Number: 1559-0044.
Abstract: The purpose of the Community Development Financial
Institutions (CDFI) Bond Guarantee Program (BG Program) is to support
CDFI lending by providing Guarantees for Bonds issued by Qualified
Issuers as part of a Bond Issue for Eligible Community or Economic
Development Purposes. The BG Program provides CDFIs with a source of
long-term capital and further the mission of the CDFI Fund to increase
economic opportunity and promote community development investments for
underserved populations and distressed communities in the United
States. The CDFI Fund achieves its mission by promoting access to
capital and local economic growth by investing in, supporting, and
training Community Development Financial Institutions (CDFIs).
In compliance with OMB Circular A-129, the CDFI Bond Guarantee
Program will collect all necessary information to manage the portfolio
effectively and track progress towards policy goals and statutory and
regulatory requirements. The reporting forms are necessary for the
Department of the Treasury's review and impact analysis on the current
and proposed use of Bond Proceeds in underserved communities and to
support the CDFI Fund in proactively managing regulatory compliance.
Risk detection and mitigation are crucial activities for the long-term
operation and viability of the CDFI Bond Guarantee Program. The
Department of the Treasury's authority to collect this information and
the specified data collection area and parameters are consistent with
the requirements contained in 12 CFR part 1808.101(d)(1)(2) of the CDFI
Bond Guarantee Program Interim Rule.
Current Actions: New Collection (Tertiary Loan Monitoring Report).
Type of Review: Regular Review.
Affected Public: Approved Eligible CDFIs and Qualified Issuers
(QI).
Estimated Number of Eligible CDFI and QI Respondents: 15.
Estimated Annual Time per Eligible CDFI and QI Respondent: 1.66
hours.
Estimated Total Annual Burden Hours: 300 hours.
Current Actions: Renewal (Qualified Issuer and Guarantee
Applications, Secondary Loan Requirements Certification, FCM, PLM, and
Annual Assessment Reports, and Secondary Loan Commitment Form).
Type of Review: Regular Review.
Affected Public: Approved Eligible CDFIs and Qualified Issuers
(QI).
Estimated Number of Eligible CDFI and QI Respondents: 40.
Estimated Annual Time per Eligible CDFI and QI Respondent: 100.694
hours.
Estimated Total Annual Burden Hours: 9,630 hours.
Requests for Comments
Copies of the forms can be found at CDFI Bond Guarantee Program
[verbar] Community Development Financial Institutions Fund
(<a href="http://cdfifund.gov">cdfifund.gov</a>). Comments submitted in response to this notice will be
summarized and/or included in the request for Office of Management and
Budget approval. All comments will become a matter of public record and
may be published on the CDFI Fund website at <a href="http://www.cdfifund.gov">http://www.cdfifund.gov</a>.
Comments are invited on: (a) Whether the collection of information is
necessary for the proper performance of the functions of the CDFI Fund,
including whether the information shall have practical utility; (b) the
accuracy of the CDFI Fund's estimate of the burden of the collection of
information; (c) ways to enhance the quality, utility, and clarity of
the information to be collected; (d) ways to minimize the burden of the
collection of information on respondents, including through the use of
technology; and (e) estimates of capital or start-up costs and costs of
operation, maintenance, and purchase of services to provide
information.
The CDFI Fund specifically requests comments concerning the
following questions: (1) Is there any input that the general public
would like to share regarding our current information collection?
(2) Does the proposed TLM Report provide clarity on the
expectations for meeting the requirements contained in 12 CFR part
1808.101(d)(1)(2)?
(3) Is there additional information or guidance that the CDFI Fund
can provide to clarify the commitment test review process?
(4) Does the proposed TLM report contain the appropriate data
points to ensure that it verifies the amount of collateralization
pledged against the secondary loans for approved CDFIs that use the
CDFI-to-financing entity asset class?
Authority: 12 CFR part 1808.
Jodie L. Harris,
Director, Community Development Financial Institutions Fund.
[FR Doc. 2021-19865 Filed 9-14-21; 8:45 am]
BILLING CODE 4810-70-P
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