[Federal Register Volume 88, Number 121 (Monday, June 26, 2023)]
[Notices]
[Pages 41465-41466]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-13492]


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DEPARTMENT OF THE TREASURY


Agency Information Collection Activities; Submission for OMB 
Review; Comment Request; Emergency Capital Investment Program

AGENCY: Departmental Offices, U.S. Department of the Treasury.

ACTION: Notice.

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SUMMARY: The Department of the Treasury will submit the following 
information collection requests to the Office of Management and Budget 
(OMB) for review and clearance in accordance with the Paperwork 
Reduction Act of 1995, on or after the date of publication of this 
notice. The public is invited to submit comments on these requests.

DATES: Comments should be received on or before July 26, 2023 to be 
assured of consideration.

ADDRESSES: Written comments and recommendations for the proposed 
information collection should be sent within 30 days of publication of 
this notice to www.reginfo.gov/public/do/PRAMain. Find this particular 
information collection by selecting ``Currently under 30-day Review--
Open for Public Comments'' or by using the search function. Copies of 
the submissions may be obtained from Melody Braswell by emailing 
[email protected], calling (202) 622-1035, or viewing the entire 
information collection request at www.reginfo.gov.

SUPPLEMENTARY INFORMATION: 
    Title: Emergency Capital Investment Program.
    OMB Control Number:1505-0267.
    Type of Review: Extension of a currently approved collection.
    Description: The Consolidated Appropriations Act, 2021, signed into 
law on December 27, 2020, added section 104A of the Community 
Development Banking and Financial Institutions Act of 1994 (the 
``Act''). Section 104A authorizes the Secretary of the Treasury to 
establish the Emergency Capital Investment Program (Program) to support 
the efforts of low- and moderate-income community financial 
institutions to, among other things, provide loans, grants, and 
forbearance for small businesses, minority-owned businesses, and 
consumers, especially in low-income and underserved communities, 
including persistent poverty counties, that may be disproportionately 
impacted by the economic effects of the COVID-19 pandemic by providing 
direct and indirect capital investments in low-and moderate-income 
community financial institutions.
    Applications, a state regulator response form, and eligible 
applicant intent to participate form were previously approved under OMB 
Control Number 1505-0267. Following review of the applications, 
Treasury will enter into letter agreements (agreements) with 
participating financial institutions. These agreements contain 
standardized information collection necessary for the legal closing 
process. The agreements collect information from applicants in two 
general categories: (1) administrative information needed to

[[Page 41466]]

facilitate payments and notifications and (2) disclosures to Treasury 
(e.g. litigation or exceptions to representations and warranties). 
Participants are the only parties that can provide information of this 
type to Treasury. Treasury will publish this form on the Treasury 
website. Based on this publication, Treasury will provide an 
opportunity for eligible applicants to review the terms and conditions 
of the investments prior to indicating to Treasury whether the 
institution intends to participate in the Program.
    Form Name: Letter Agreements; Applicant Notification Letter.
    Affected Public: Private sector, businesses or other for-profits, 
non-profit institutions.
    Estimated Number of Respondents: 372 respondents.
    Frequency of Response: Once, annually.
    Estimated Total Number of Annual Responses: 372 total responses 
(186 annual responses to Letter Agreements; 186 annual responses to 
Applicant Notification Letter).
    Estimated Time per Response: 8 hours annually for Letter 
Agreements; 15 minutes for response to Applicant Notification Letter.
    Estimated Total Annual Burden Hours: 1,535 hours.
    Request for Comments: Comments submitted in response to this notice 
will be summarized and included in the request for Office of Management 
and Budget approval. All comments will become a matter of public 
record. Comments are invited on: (a) whether the collection of 
information is necessary for the proper performance of the functions of 
the agency, including whether the information shall have practical 
utility; (b) the accuracy of the agency'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 
required to provide information.
    Authority: 44 U.S.C. 3501 et seq.

Spencer W. Clark,
Treasury PRA Clearance Officer.
[FR Doc. 2023-13492 Filed 6-23-23; 8:45 am]
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