[Federal Register Volume 73, Number 179 (Monday, September 15, 2008)]
[Notices]
[Page 53264]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E8-21394]


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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

[Docket No. FR-5240-N-01]


Notice of FHA Debenture Call

AGENCY: Office of the Assistant Secretary for Housing-Federal Housing 
Commissioner, HUD.

ACTION: Notice.

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SUMMARY: This Notice announces a debenture recall of certain Federal 
Housing Administration (FHA) debentures, in accordance with authority 
provided in the National Housing Act.

FOR FURTHER INFORMATION CONTACT: Yong Sun, FHA Financial Reporting 
Division, Department of Housing and Urban Development, 451 7th Street, 
SW., Room 5148, Washington, DC 20410, telephone 202-402-4778. This is 
not a toll-free number.

SUPPLEMENTARY INFORMATION: Pursuant to section 207(j) of the National 
Housing Act, 12 U.S.C. 1713(j), and in accordance with HUD's regulation 
at 24 CFR 207.259(e)(3), the Assistant Secretary for Housing-Federal 
Housing Commissioner, with the approval of the Secretary of the 
Treasury, announces the call of all FHA debentures, with a coupon rate 
of 5.50 percent or above, except for those debentures subject to 
``debenture lock agreements,'' that have been registered on the books 
of the Bureau of the Public Debt, Department of the Treasury, and are, 
therefore, ``outstanding'' as of September 30, 2008. The date of the 
call is January 1, 2009.
    The debentures will be redeemed at par plus accrued interest. 
Interest will cease to accrue on the debentures as of the call date. At 
redemption, final interest on any called debentures will be paid along 
with the principal. Payment of final principal and interest due on 
January 1, 2009 will be made automatically to the registered holder.
    During the period from the date of this notice to the call date, 
debentures that are subject to the call may not be used by the 
mortgagee for a special redemption purchase in payment of a mortgage 
insurance premium.
    No transfer of debentures covered by the foregoing call will be 
made on the books maintained by the Treasury Department on or after 
December 15, 2008. This debenture call does not affect the right of the 
holder of a debenture to sell or assign the debenture on or after this 
date.

    Dated: August 4, 2008.
Ronald Y. Spraker,
Acting General Deputy Assistant Secretary for Housing--Federal Housing 
Commissioner.
[FR Doc. E8-21394 Filed 9-12-08; 8:45 am]
BILLING CODE 4210-67-P