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, Pub. L. No. 104-13 (44 U.S.C. 3506(c)(2)(A)). Currently, the Community Development Financial Institutions Fund (CDFI Fund), U.S. Department of the Treasury, is soliciting comments concerning the CDFI Bond Guarantee Program’s information collection. The request for comment was published today in the Federal Register.
The purpose of the CDFI Bond Guarantee Program is to support Community Development Financial Institution (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 CDFI Bond Guarantee Program provides CDFIs with a new source of long-term capital and furthers 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.
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.
The operation of the CDFI Bond Guarantee Program is supported by the collection of information across various forms, collectively the CDFI Bond Guarantee Program Information Collections: (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) Secondary Loan Commitment Form.
There are no significant content changes to the forms; however, minor, non-substantive changes may have been made to certain forms in order to improve the clarity and/or accuracy of the data collections. Copies of the forms constituting the CDFI Bond Guarantee Program Information Collection may be found below and on the CDFI Fund’s website at https://www.cdfifund.gov/bond.
Comments are invited on all aspects of the information collections, but the CDFI Fund specifically requests comments concerning the following questions:
- Is there any input that the general public would like to share regarding our current information collection?
- Does the proposed TLM report contain the appropriate fields and/or approved asset classes for meeting the requirements?
All comments must be submitted in writing on or before February 7, 2024, and must be submitted under Docket Number CDFI-2024-0005 via the Federal e-Rulemaking Portal at www.regulations.gov.
For more information about the CDFI Bond Guarantee Program, please visit https://www.cdfifund.gov/bond.
- Federal Register Notice
- Regulations.gov: Bond Guarantee Program Application Material Comment Submission Portal
- For Comment: Tertiary Loan Monitoring Report
- For Comment: Qualified Issuer Application (including, Appendix QI-2E)
- For Comment: Guarantee Application (including, Appendices A-2A, A-2C, and B-ID)
- For Comment: Secondary Loan Requirements Certification
- For Comment: Financial Condition Monitoring Report
- For Comment: Pledged Loan Monitoring Report
- For Comment: Annual Assessment Report
- For Comment: Secondary Loan Commitment Form