Mortgage and Loan Insurance Programs Under the National Housing Act-Debenture Interest Rates, 42099-42100 [E7-14821]
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Federal Register / Vol. 72, No. 147 / Wednesday, August 1, 2007 / Notices
allocated in accordance with section
2604 of the Act and must be treated by
LIHEAP grantees receiving them as an
amount appropriated for FY 2007. As
FY 2007 funds, they will be subject to
all requirements of the Act, including
section 2607(b)(2), which requires that a
grantee obligate at least 90 percent of its
total block grant allocation for a fiscal
year by the end of the fiscal year for
which the funds are appropriated, that
is, by September 30, 2007.
FOR FURTHER INFORMATION CONTACT: Nick
St. Angelo, Director, Division of Energy
Assistance, Office of Community
Services, 370 L’Enfant Promenade, SW.,
Washington, DC 20447; telephone (202)
401–9351.
Dated: July 26, 2007.
Yolanda J. Butler,
Deputy Director, Office of Community
Services.
[FR Doc. E7–14875 Filed 7–31–07; 8:45 am]
BILLING CODE 4184–01–P
DEPARTMENT OF HEALTH AND
HUMAN SERVICES
National Institutes of Health
Filovirus Animal Models; Public
Workshop
AGENCY:
National Institutes of Health,
HHS.
jlentini on PROD1PC65 with NOTICES
ACTION:
Notice of public workshop.
The National Institutes of Health
(NIH) is announcing a public workshop
entitled: Filoviruses: Current Status of
Research into Pathophysiology and
Potential Uses of Animal Models. The
purpose of the public workshop is to
discuss the current state of
understanding of filovirus infections,
knowledge gaps and research needs, the
current status of research exploring
animal models, and the potential role of
model development in approaches to
investigation of therapeutic or vaccine
strategies directed towards filoviruses.
DATE AND TIME: The public workshop
will be held on September 11, 2007
from 8:30 a.m.–5 p.m. and on September
12, 2007 from 8:30 a.m.–1 p.m.
LOCATION: The public workshop will be
held at the main auditorium, Natcher
Conference Center, NIH Campus, 45
Center Drive, Bethesda, Maryland.
CONTACT PERSON: Ping Chen, 6610
Rockledge Drive, telephone: 301–451–
3756, fax: 301–480–1263, e-mail:
chenpi@niaid.nih.gov
REGISTRATION: Pre-registration is
required and must be completed by
August 24, 2007. Please go to the
following web site for information about
VerDate Aug<31>2005
20:12 Jul 31, 2007
Jkt 211001
registration (https://www.niaid.nih.gov/
news/events/meetings/filo/). There is no
registration fee for the public workshop.
Early registration is recommended
because seating is limited. There will be
no onsite registration.
If you need special accommodations
due to a disability, please contact (see
Contact Person) at least 7 days in
advance.
SUPPLEMENTARY INFORMATION: NIH, CDC,
DoD, and FDA, are cosponsoring a
public workshop titled, ‘‘Filoviruses:
Current Status of Research into
Pathophysiology and Potential Uses of
Animal Models’’. The meeting will
discuss: (1) Background information on
filovirus pathogenesis and clinical
disease in humans and animals, and
status of research into the
understanding of human disease and
development of animal models; (2)
Background information on the
scientific issues and regulatory
approaches to the potential uses of
animal data in the development of
prevention and treatment strategies; (3)
General review of filovirus vaccine
design, rationale, and correlates of
protection; (4) General review of the
status of preliminary research
approaches to filovirus-directed
antiviral therapeutics. The workshop’s
goal is to enhance understanding of
filovirus disease, identify knowledge
gaps and research needs, and explore
the potential strengths and limitations
of various animal models.
TRANSCRIPTS: Transcripts of the public
workshop will be available following
the workshop. Procedures to obtain a
transcript will be made available at a
later date.
Dated: July 23, 2007.
Michael G. Kurilla,
Director, Office of Biodefense Research
Affairs, Associate Director for Biodefense
Product Development, DMID, NIAID, National
Institutes of Health.
[FR Doc. E7–14874 Filed 7–31–07; 8:45 am]
BILLING CODE 4140–01–P
DEPARTMENT OF HEALTH AND
HUMAN SERVICES
National Institutes of Health
Delegation of Authority
Notice is hereby given that I have
delegated to the Director, National
Institutes of Health (NIH), the
authorities under section 3 of Public
Law 109–416 (Combating Autism Act of
2006), which amends Title III of the
Public Health Service Act, by adding
Part R, section 399CC, authorizing
establishment of the Interagency Autism
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Fmt 4703
Sfmt 4703
42099
Coordinating Committee. I am also
delegating the authority under Title III,
section 399CC of the Public Health
Service Act, as amended, to select
Federal members of the Committee,
including the chair, as appropriate. I
will retain the authority under Title III,
section 399CC(c)(2), pertaining to the
selection of additional non-Federal
public members of the Committee.
This delegation excludes the authority
to submit reports to the Congress, and
shall be exercised in accordance with
the Department’s applicable policies,
procedures, and guidelines relating to
regulations.
This delegation is effective upon
signature. In addition, I ratified and
affirmed any actions taken by the
Director of the NIH or his subordinates
which involved the exercise of the
authorities delegated herein prior to the
effective date of the delegation.
This delegation was effective upon
date of signature.
Dated: July 18, 2007.
Michael O. Leavitt,
Secretary.
[FR Doc. 07–3735 Filed 7–31–07; 8:45 am]
BILLING CODE 4160–18–M
DEPARTMENT OF HOUSING AND
URBAN DEVELOPMENT
[Docket No. FR–5155–N–01]
Mortgage and Loan Insurance
Programs Under the National Housing
Act—Debenture Interest Rates
Office of the Assistant
Secretary for Housing—Federal Housing
Commissioner, HUD.
ACTION: Notice.
AGENCY:
SUMMARY: This notice announces
changes in the interest rates to be paid
on debentures issued with respect to a
loan or mortgage insured by the Federal
Housing Administration under the
provisions of the National Housing Act
(the Act). The interest rate for
debentures issued under section
221(g)(4) of the Act during the 6-month
period beginning July 1, 2007, is 43⁄4
percent. The interest rate for debentures
issued under any other provision of the
Act is the rate in effect on the date that
the commitment to insure the loan or
mortgage was issued, or the date that the
loan or mortgage was endorsed (or
initially endorsed if there are two or
more endorsements) for insurance,
whichever rate is higher. The interest
rate for debentures issued under these
other provisions with respect to a loan
or mortgage committed or endorsed
during the 6-month period beginning
E:\FR\FM\01AUN1.SGM
01AUN1
jlentini on PROD1PC65 with NOTICES
42100
Federal Register / Vol. 72, No. 147 / Wednesday, August 1, 2007 / Notices
July 1, 2007, is 5 percent. However, as
a result of an amendment to section 224
of the Act, if an insurance claim relating
to a mortgage insured under sections
203 or 234 of the Act and endorsed for
insurance after January 23, 2004, is paid
in cash, the debenture interest rate for
purposes of calculating a claim shall be
the monthly average yield, for the
month in which the default on the
mortgage occurred, on United States
Treasury Securities adjusted to a
constant maturity of 10 years.
FOR FURTHER INFORMATION CONTACT:
Yong Sun, Department of Housing and
Urban Development, 451 Seventh Street,
SW., Room 2238, Washington, DC
20410–8000; telephone (202) 402–4778
(this is not a toll-free number).
Individuals with speech or hearing
impairments may access this number
through TTY by calling the toll-free
Federal Information Relay Service at
(800) 877–8339.
SUPPLEMENTARY INFORMATION: Section
224 of the National Housing Act (12
U.S.C. 1715o) provides that debentures
issued under the Act with respect to an
insured loan or mortgage (except for
debentures issued pursuant to section
221(g)(4) of the Act) will bear interest at
the rate in effect on the date the
commitment to insure the loan or
mortgage was issued, or the date the
loan or mortgage was endorsed (or
initially endorsed if there are two or
more endorsements) for insurance,
whichever rate is higher. This provision
is implemented in HUD’s regulations at
24 CFR 203.405, 203.479, 207.259(e)(6),
and 220.830. These regulatory
provisions state that the applicable rates
of interest will be published twice each
year as a notice in the Federal Register.
Section 224 further provides that the
interest rate on these debentures will be
set from time to time by the Secretary
of HUD, with the approval of the
Secretary of the Treasury, in an amount
not in excess of the annual interest rate
determined by the Secretary of the
Treasury pursuant to a statutory formula
based on the average yield of all
outstanding marketable Treasury
obligations of maturities of 15 or more
years.
The Secretary of the Treasury (1) has
determined, in accordance with the
provisions of section 224, that the
statutory maximum interest rate for the
period beginning July 1, 2007, is 5
percent; and (2) has approved the
establishment of the debenture interest
rate by the Secretary of HUD at 5
percent for the 6-month period
beginning July 1, 2007. This interest rate
will be the rate borne by debentures
issued with respect to any insured loan
VerDate Aug<31>2005
20:12 Jul 31, 2007
Jkt 211001
or mortgage (except for debentures
issued pursuant to section 221(g)(4))
with insurance commitment or
endorsement date (as applicable) within
the latter 6 months of 2007.
For convenience of reference, HUD is
publishing the following chart of
debenture interest rates applicable to
mortgages committed or endorsed since
January 1, 1980:
Effective
interest
rate
91⁄2 .......
97⁄8 .......
113⁄4 .....
127⁄8 .....
123⁄4 .....
101⁄4 .....
103⁄8 .....
111⁄2 .....
133⁄8 .....
115⁄8 .....
111⁄8 .....
101⁄4 .....
81⁄4 .......
8 ...........
9 ...........
91⁄8 .......
93⁄8 .......
91⁄4 .......
9 ...........
81⁄8 .......
9 ...........
83⁄4 .......
81⁄2 .......
8 ...........
8 ...........
73⁄4 .......
7 ...........
65⁄8 .......
73⁄4 .......
83⁄8 .......
71⁄4 .......
61⁄2 .......
71⁄4 .......
63⁄4 .......
71⁄8 .......
63⁄8 .......
61⁄8 .......
51⁄2 .......
61⁄8 .......
61⁄2 .......
61⁄2 .......
6 ...........
57⁄8 .......
51⁄4 .......
53⁄4 .......
5 ...........
41⁄2 .......
51⁄8 .......
51⁄2 .......
47⁄8 .......
41⁄2 .......
47⁄8 .......
53⁄8 .......
43⁄4 .......
5 ...........
on or after
Jan. 1, 1980
July 1, 1980
Jan. 1, 1981
July 1, 1981
Jan. 1, 1982
Jan. 1, 1983
July 1, 1983
Jan. 1, 1984
July 1, 1984
Jan. 1, 1985
July 1, 1985
Jan. 1, 1986
July 1, 1986
Jan. 1, 1987
July 1, 1987
Jan. 1, 1988
July 1, 1988
Jan. 1, 1989
July 1, 1989
Jan. 1, 1990
July 1, 1990
Jan. 1, 1991
July 1, 1991
Jan. 1, 1992
July 1, 1992
Jan. 1, 1993
July 1, 1993
Jan. 1, 1994
July 1, 1994
Jan. 1, 1995
July 1, 1995
Jan. 1, 1996
July 1, 1996
Jan. 1, 1997
July 1, 1997
Jan. 1, 1998
July 1, 1998
Jan. 1, 1999
July 1, 1999
Jan. 1, 2000
July 1, 2000
Jan. 1, 2001
July 1, 2001
Jan. 1, 2002
July 1, 2002
Jan. 1, 2003
July 1, 2003
Jan. 1, 2004
July 1, 2004
Jan. 1, 2005
July 1, 2005
Jan. 1, 2006
July 1, 2006
Jan. 1, 2007
July 1, 2007
.......
.......
.......
.......
.......
.......
.......
.......
.......
.......
.......
.......
.......
.......
.......
.......
.......
.......
.......
.......
.......
.......
.......
.......
.......
.......
.......
.......
.......
.......
.......
.......
.......
.......
.......
.......
.......
.......
.......
.......
.......
.......
.......
.......
.......
.......
.......
.......
.......
.......
.......
.......
.......
.......
.......
prior to
July 1, 1980.
Jan. 1, 1981.
July 1, 1981.
Jan. 1, 1982.
Jan. 1, 1983.
July 1, 1983.
Jan. 1, 1984.
July 1, 1984.
Jan. 1, 1985.
July 1, 1985.
Jan. 1, 1986.
July 1, 1986.
Jan. 1. 1987.
July 1, 1987.
Jan. 1, 1988.
July 1, 1988.
Jan. 1, 1989.
July 1, 1989.
Jan. 1, 1990.
July 1, 1990.
Jan. 1, 1991.
July 1, 1991.
Jan. 1, 1992.
July 1, 1992.
Jan. 1, 1993.
July 1, 1993.
Jan. 1, 1994.
July 1, 1994.
Jan. 1, 1995.
July 1, 1995.
Jan. 1, 1996.
July 1, 1996.
Jan. 1, 1997.
July 1, 1997.
Jan. 1, 1998.
July 1, 1998.
Jan. 1, 1999.
July 1, 1999.
Jan. 1, 2000.
July 1, 2000.
Jan. 1, 2001.
July 1, 2001.
Jan. 1, 2002.
July 1, 2002.
Jan. 1, 2003.
July 1, 2003.
Jan. 1, 2004.
July 1, 2004.
Jan. 1, 2005.
July 1, 2005.
Jan. 1, 2006.
July 1, 2006.
Jan. 1, 2007.
July 1, 2007.
Jan. 1, 2008.
Section 215 of Division G, Title II of
Pub. L. 108–199, enacted January 23,
2004 (HUD’s 2004 Appropriations Act)
amended section 224 of the Act, to
PO 00000
Frm 00059
Fmt 4703
Sfmt 4703
change the debenture interest rate for
purposes of calculating certain
insurance claim payments made in cash.
Therefore, for all claims paid in cash on
mortgages insured under section 203 or
234 of the National Housing Act and
endorsed for insurance after January 23,
2004, the debenture interest rate will be
the monthly average yield, for the
month in which the default on the
mortgage occurred, on United States
Treasury Securities adjusted to a
constant maturity of 10 years, as found
in Federal Reserve Statistical Release H–
15. The Federal Housing Administration
has codified this provision in HUD
regulations at 24 CFR 203.405(b) and 24
CFR 203.479(b).
Section 221(g)(4) of the Act provides
that debentures issued pursuant to that
paragraph (with respect to the
assignment of an insured mortgage to
the Secretary) will bear interest at the
‘‘going Federal rate’’ in effect at the time
the debentures are issued. The term
‘‘going Federal rate’’ is defined to mean
the interest rate that the Secretary of the
Treasury determines, pursuant to a
statutory formula based on the average
yield on all outstanding marketable
Treasury obligations of 8- to 12-year
maturities, for the 6-month periods of
January through June and July through
December of each year. Section 221(g)(4)
is implemented in the HUD regulations
at 24 CFR 221.255 and 24 CFR 221.790.
The Secretary of the Treasury has
determined that the interest rate to be
borne by debentures issued pursuant to
section 221(g)(4) during the 6-month
period beginning July 1, 2007, is 43⁄4
percent.
HUD expects to publish its next
notice of change in debenture interest
rates in January 2008.
The subject matter of this notice falls
within the categorical exemption from
HUD’s environmental clearance
procedures set forth in 24 CFR
50.19(c)(6). For that reason, no
environmental finding has been
prepared for this notice.
(Authority: Sections 211, 221, 224,
National Housing Act, 12 U.S.C. 1715b,
1715l, 1715o; Section 7(d), Department of
HUD Act, 42 U.S.C. 3535(d).)
Dated: July 26, 2007.
Brian D. Montgomery,
Assistant Secretary for Housing—Federal
Housing Commissioner.
[FR Doc. E7–14821 Filed 7–31–07; 8:45 am]
BILLING CODE 4210–67–P
E:\FR\FM\01AUN1.SGM
01AUN1
]]>Agencies
[Federal Register Volume 72, Number 147 (Wednesday, August 1, 2007)]
[Notices]
[Pages 42099-42100]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-14821]
=======================================================================
-----------------------------------------------------------------------
DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
[Docket No. FR-5155-N-01]
Mortgage and Loan Insurance Programs Under the National Housing
Act--Debenture Interest Rates
AGENCY: Office of the Assistant Secretary for Housing--Federal Housing
Commissioner, HUD.
ACTION: Notice.
-----------------------------------------------------------------------
SUMMARY: This notice announces changes in the interest rates to be paid
on debentures issued with respect to a loan or mortgage insured by the
Federal Housing Administration under the provisions of the National
Housing Act (the Act). The interest rate for debentures issued under
section 221(g)(4) of the Act during the 6-month period beginning July
1, 2007, is 4\3/4\ percent. The interest rate for debentures issued
under any other provision of the Act is the rate in effect on the date
that the commitment to insure the loan or mortgage was issued, or the
date that the loan or mortgage was endorsed (or initially endorsed if
there are two or more endorsements) for insurance, whichever rate is
higher. The interest rate for debentures issued under these other
provisions with respect to a loan or mortgage committed or endorsed
during the 6-month period beginning
[[Page 42100]]
July 1, 2007, is 5 percent. However, as a result of an amendment to
section 224 of the Act, if an insurance claim relating to a mortgage
insured under sections 203 or 234 of the Act and endorsed for insurance
after January 23, 2004, is paid in cash, the debenture interest rate
for purposes of calculating a claim shall be the monthly average yield,
for the month in which the default on the mortgage occurred, on United
States Treasury Securities adjusted to a constant maturity of 10 years.
FOR FURTHER INFORMATION CONTACT: Yong Sun, Department of Housing and
Urban Development, 451 Seventh Street, SW., Room 2238, Washington, DC
20410-8000; telephone (202) 402-4778 (this is not a toll-free number).
Individuals with speech or hearing impairments may access this number
through TTY by calling the toll-free Federal Information Relay Service
at (800) 877-8339.
SUPPLEMENTARY INFORMATION: Section 224 of the National Housing Act (12
U.S.C. 1715o) provides that debentures issued under the Act with
respect to an insured loan or mortgage (except for debentures issued
pursuant to section 221(g)(4) of the Act) will bear interest at the
rate in effect on the date the commitment to insure the loan or
mortgage was issued, or the date the loan or mortgage was endorsed (or
initially endorsed if there are two or more endorsements) for
insurance, whichever rate is higher. This provision is implemented in
HUD's regulations at 24 CFR 203.405, 203.479, 207.259(e)(6), and
220.830. These regulatory provisions state that the applicable rates of
interest will be published twice each year as a notice in the Federal
Register.
Section 224 further provides that the interest rate on these
debentures will be set from time to time by the Secretary of HUD, with
the approval of the Secretary of the Treasury, in an amount not in
excess of the annual interest rate determined by the Secretary of the
Treasury pursuant to a statutory formula based on the average yield of
all outstanding marketable Treasury obligations of maturities of 15 or
more years.
The Secretary of the Treasury (1) has determined, in accordance
with the provisions of section 224, that the statutory maximum interest
rate for the period beginning July 1, 2007, is 5 percent; and (2) has
approved the establishment of the debenture interest rate by the
Secretary of HUD at 5 percent for the 6-month period beginning July 1,
2007. This interest rate will be the rate borne by debentures issued
with respect to any insured loan or mortgage (except for debentures
issued pursuant to section 221(g)(4)) with insurance commitment or
endorsement date (as applicable) within the latter 6 months of 2007.
For convenience of reference, HUD is publishing the following chart
of debenture interest rates applicable to mortgages committed or
endorsed since January 1, 1980:
------------------------------------------------------------------------
Effective interest rate on or after prior to
------------------------------------------------------------------------
9\1/2\......................... Jan. 1, 1980..... July 1, 1980.
9\7/8\......................... July 1, 1980..... Jan. 1, 1981.
11\3/4\........................ Jan. 1, 1981..... July 1, 1981.
12\7/8\........................ July 1, 1981..... Jan. 1, 1982.
12\3/4\........................ Jan. 1, 1982..... Jan. 1, 1983.
10\1/4\........................ Jan. 1, 1983..... July 1, 1983.
10\3/8\........................ July 1, 1983..... Jan. 1, 1984.
11\1/2\........................ Jan. 1, 1984..... July 1, 1984.
13\3/8\........................ July 1, 1984..... Jan. 1, 1985.
11\5/8\........................ Jan. 1, 1985..... July 1, 1985.
11\1/8\........................ July 1, 1985..... Jan. 1, 1986.
10\1/4\........................ Jan. 1, 1986..... July 1, 1986.
8\1/4\......................... July 1, 1986..... Jan. 1. 1987.
8.............................. Jan. 1, 1987..... July 1, 1987.
9.............................. July 1, 1987..... Jan. 1, 1988.
9\1/8\......................... Jan. 1, 1988..... July 1, 1988.
9\3/8\......................... July 1, 1988..... Jan. 1, 1989.
9\1/4\......................... Jan. 1, 1989..... July 1, 1989.
9.............................. July 1, 1989..... Jan. 1, 1990.
8\1/8\......................... Jan. 1, 1990..... July 1, 1990.
9.............................. July 1, 1990..... Jan. 1, 1991.
8\3/4\......................... Jan. 1, 1991..... July 1, 1991.
8\1/2\......................... July 1, 1991..... Jan. 1, 1992.
8.............................. Jan. 1, 1992..... July 1, 1992.
8.............................. July 1, 1992..... Jan. 1, 1993.
7\3/4\......................... Jan. 1, 1993..... July 1, 1993.
7.............................. July 1, 1993..... Jan. 1, 1994.
6\5/8\......................... Jan. 1, 1994..... July 1, 1994.
7\3/4\......................... July 1, 1994..... Jan. 1, 1995.
8\3/8\......................... Jan. 1, 1995..... July 1, 1995.
7\1/4\......................... July 1, 1995..... Jan. 1, 1996.
6\1/2\......................... Jan. 1, 1996..... July 1, 1996.
7\1/4\......................... July 1, 1996..... Jan. 1, 1997.
6\3/4\......................... Jan. 1, 1997..... July 1, 1997.
7\1/8\......................... July 1, 1997..... Jan. 1, 1998.
6\3/8\......................... Jan. 1, 1998..... July 1, 1998.
6\1/8\......................... July 1, 1998..... Jan. 1, 1999.
5\1/2\......................... Jan. 1, 1999..... July 1, 1999.
6\1/8\......................... July 1, 1999..... Jan. 1, 2000.
6\1/2\......................... Jan. 1, 2000..... July 1, 2000.
6\1/2\......................... July 1, 2000..... Jan. 1, 2001.
6.............................. Jan. 1, 2001..... July 1, 2001.
5\7/8\......................... July 1, 2001..... Jan. 1, 2002.
5\1/4\......................... Jan. 1, 2002..... July 1, 2002.
5\3/4\......................... July 1, 2002..... Jan. 1, 2003.
5.............................. Jan. 1, 2003..... July 1, 2003.
4\1/2\......................... July 1, 2003..... Jan. 1, 2004.
5\1/8\......................... Jan. 1, 2004..... July 1, 2004.
5\1/2\......................... July 1, 2004..... Jan. 1, 2005.
4\7/8\......................... Jan. 1, 2005..... July 1, 2005.
4\1/2\......................... July 1, 2005..... Jan. 1, 2006.
4\7/8\......................... Jan. 1, 2006..... July 1, 2006.
5\3/8\......................... July 1, 2006..... Jan. 1, 2007.
4\3/4\......................... Jan. 1, 2007..... July 1, 2007.
5.............................. July 1, 2007..... Jan. 1, 2008.
------------------------------------------------------------------------
Section 215 of Division G, Title II of Pub. L. 108-199, enacted
January 23, 2004 (HUD's 2004 Appropriations Act) amended section 224 of
the Act, to change the debenture interest rate for purposes of
calculating certain insurance claim payments made in cash. Therefore,
for all claims paid in cash on mortgages insured under section 203 or
234 of the National Housing Act and endorsed for insurance after
January 23, 2004, the debenture interest rate will be the monthly
average yield, for the month in which the default on the mortgage
occurred, on United States Treasury Securities adjusted to a constant
maturity of 10 years, as found in Federal Reserve Statistical Release
H-15. The Federal Housing Administration has codified this provision in
HUD regulations at 24 CFR 203.405(b) and 24 CFR 203.479(b).
Section 221(g)(4) of the Act provides that debentures issued
pursuant to that paragraph (with respect to the assignment of an
insured mortgage to the Secretary) will bear interest at the ``going
Federal rate'' in effect at the time the debentures are issued. The
term ``going Federal rate'' is defined to mean the interest rate that
the Secretary of the Treasury determines, pursuant to a statutory
formula based on the average yield on all outstanding marketable
Treasury obligations of 8- to 12-year maturities, for the 6-month
periods of January through June and July through December of each year.
Section 221(g)(4) is implemented in the HUD regulations at 24 CFR
221.255 and 24 CFR 221.790.
The Secretary of the Treasury has determined that the interest rate
to be borne by debentures issued pursuant to section 221(g)(4) during
the 6-month period beginning July 1, 2007, is 4\3/4\ percent.
HUD expects to publish its next notice of change in debenture
interest rates in January 2008.
The subject matter of this notice falls within the categorical
exemption from HUD's environmental clearance procedures set forth in 24
CFR 50.19(c)(6). For that reason, no environmental finding has been
prepared for this notice.
(Authority: Sections 211, 221, 224, National Housing Act, 12
U.S.C. 1715b, 1715l, 1715o; Section 7(d), Department of HUD Act, 42
U.S.C. 3535(d).)
Dated: July 26, 2007.
Brian D. Montgomery,
Assistant Secretary for Housing--Federal Housing Commissioner.
[FR Doc. E7-14821 Filed 7-31-07; 8:45 am]
BILLING CODE 4210-67-P
