[Federal Register Volume 67, Number 89 (Wednesday, May 8, 2002)]
[Notices]
[Page 30998]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 02-11351]



[[Page 30998]]

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DEPARTMENT OF THE TREASURY


Community Development Financial Institutions Fund

ACTION: Notice and request for comments.

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SUMMARY: The proposed information collection requirement, concerning a 
study by the Community Development Financial Institutions Fund (the 
Fund) regarding the need for, and the feasibility of, selling loans 
made by Community Development Financial Institutions (CDFIs) on a 
secondary market, will be submitted to the Office of Management and 
Budget (OMB) for review as required by the Paperwork Reduction Act. The 
Fund is soliciting public comments on the subject proposal.

DATES: Written and electronic comments on the subject proposal must be 
submitted to the Fund by July 8, 2002, to be assured of consideration.

ADDRESSES: Interested persons are invited to submit comments regarding 
the subject proposal. Comments should refer to the proposal by name and 
should be sent by mail to: Office of Legal Counsel, CDFI Fund, 601 
Thirteenth Street, NW, Suite 200, Washington DC 20005; by e-mail to 
[email protected]; or by facsimile at (202) 622-8244. This is not 
a toll free number.

FOR FURTHER INFORMATION CONTACT: Donna Fabiani, Financial Strategies 
and Research Unit, CDFI Fund, 601 Thirteenth Street, NW, Suite 200, 
Washington DC 20005; telephone number 202/622-8575. This is not a toll 
free number. Copies of the proposed survey form and other available 
information may be obtained from Ms. Fabiani.

SUPPLEMENTARY INFORMATION: The Fund will submit the proposed 
information collection to OMB for review, as required by the Paperwork 
Reduction Act of 1995 (44 U.S.C. chapter 35, as amended). This notice 
is soliciting comments from members of the public and affected 
organizations concerning the proposed collection of information to: (1) 
Evaluate whether the proposed collection of information is necessary to 
proper performance of the functions of the Fund, including whether the 
information will have practical utility; (2) evaluate the accuracy of 
the Fund's estimate of the burden of the proposed collection of 
information; (3) enhance the quality, utility and clarity of the 
information to be collected; and (4) minimize the burden of the 
collection of information on those who are to respond, including 
through use of appropriate automated collection techniques or other 
forms of information technology, e.g., permitting electronic submission 
of responses.
    This Notice also lists the following information:
    Title of Proposal: Secondary Market Survey of Community Development 
Financial Institutions.
    Description of the need for information and proposed use: The Fund, 
a wholly owned government corporation within the Department of the 
Treasury, is conducting, through a contract with Abt Associates Inc., a 
study of the need for, and feasibility of, developing a secondary 
market for loans made by CDFIs. A key component of the feasibility 
study is gathering data, through a survey, on the loans made by CDFIs 
to determine whether it would be feasible for such loans to be sold in 
a secondary market and the potential size of this market. It is also 
crucial to understand the projected capital needs of these institutions 
to assess whether a secondary market would be beneficial to them. The 
survey will address both of these issues. The survey will include 
questions that will enable the Fund to undertake an analysis of the 
risk characteristics and pricing of CDFI loans to evaluate the 
potential for sale in a secondary market. The survey will also pose 
questions about current capital available, projected growth, 
anticipated capital needs and sources, current and potential use of a 
secondary market, and characteristics of individual loans. The data 
gathered through the survey will be used by the Fund to assess the 
feasibility of developing a secondary market for loans made by CDFIs.
    Members of the affected public: Staff from up to 325 CDFIs that 
have received awards from the Fund through the Core Component of the 
CDFI Program (an award program administered by the Fund) will be asked 
to respond to the survey.
    Estimation of the total number of hours needed to prepare the 
information collection including number of respondents, frequency of 
response, and hours of response: The researchers will administer a one-
time mail survey with telephone follow-up to staff from each of the 
CDFIs to be surveyed. Completing each survey is estimated to take 5 
hours, for a total maximum burden hour estimate of 1,625 hours.
    Total Estimated Annual Burden Hours: 1,625 (one time).
    Status of the proposed information collection: Pending OMB 
approval.

    Authority: The Paperwork Reduction Act of 1995, 44 U.S.C. 
Chapter 35, as amended.

    Dated: May 2, 2002.
Tony T. Brown,
Director, Community Development Financial Institutions Fund.
[FR Doc. 02-11351 Filed 5-7-02; 8:45 am]
BILLING CODE 4810-70-P