[Federal Register Volume 86, Number 176 (Wednesday, September 15, 2021)]
[Notices]
[Pages 51445-51446]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[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 [email protected].

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 
[email protected]. 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 
[email protected].

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 
(cdfifund.gov). 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 http://www.cdfifund.gov. 
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