[Federal Register Volume 79, Number 15 (Thursday, January 23, 2014)]
[Notices]
[Pages 3920-3921]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2014-01269]


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DEPARTMENT OF THE TREASURY


State Small Business Credit Initiative; Notice of Availability of 
Revised Policy Guidelines and National Standards

AGENCY: State Small Business Credit Initiative (SSBCI), Department of 
the Treasury.

ACTION: Notice of Document Availability.

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SUMMARY: This Notice announces the availability of revised SSBCI Policy 
Guidelines and SSBCI National Standards for Compliance and Oversight.

DATES: Effective Date: January 23, 2014.

ADDRESSES: Copies of the document are available at the SSBCI Web site 
at www.treasury.gov/ssbci.

FOR FURTHER INFORMATION CONTACT: Requests for additional information 
should be directed to Deputy Director, SSBCI, Department of the 
Treasury, 655 15th Street NW., Washington, DC 20220.

SUPPLEMENTARY INFORMATION: SSBCI was created under the Small Business 
Jobs Act of 2010 (Pub. L. 111-240) (the ``Act'') to help establish and 
strengthen state programs that support lending to small businesses. 
Under SSBCI, all states, territories, the District of Columbia, and 
eligible municipalities (collectively, ``Participating States'') could 
apply for and receive an allocation of SSBCI funds to design and 
implement programs to expand access to capital to small businesses. 
Treasury published the SSBCI Policy Guidelines (``Policy Guidelines'') 
and SSBCI National Standards for Compliance and Oversight (``National 
Standards''), which are applicable to all Participating States as they 
implement their SSBCI programs. The Policy Guidelines articulate 
program rules and the National Standards provide Participating States 
with a recommended framework for identifying, monitoring, and managing 
SSBCI compliance and oversight risks. Since the documents were 
initially published, Treasury has clarified certain program rules and 
is now issuing revised guidelines and standards to reflect the 
clarifications. Specifically, the revisions to the Policy Guidelines 
clarify: (1) The $20 million restriction on credit extended by other 
credit support programs articulated in the Act; (2) SSBCI's private 
capital-at-risk requirements; (3) how to calculate private leverage 
when a community development financial institution re-lends SSBCI 
funds; (4) the private leverage example provided for venture capital 
programs; and (4) the restriction on enrolling an SBA-guaranteed loan 
in an SSBCI program. The revisions to the National Standards clarify 
(1) the restriction on enrolling an SBA-guaranteed loan in an SSBCI 
program and (2) lender and investor assurance and certification 
requirements. The Policy Guidelines and National Standards are 
available on Treasury's Web site at www.treasury.gov/ssbci.


[[Page 3921]]


    Dated: January 15, 2014.
Clifton G. Kellogg,
Director, State Small Business Credit Initiative.
[FR Doc. 2014-01269 Filed 1-22-14; 8:45 am]
BILLING CODE 4810-25-P