Mortgage and Loan Insurance Programs Under the National Housing Act-Debenture Interest Rates, 3851-3853 [2014-01329]

Download as PDF 3851 Federal Register / Vol. 79, No. 15 / Thursday, January 23, 2014 / Notices whether the information will have practical utility; (2) The accuracy of the agency’s estimate of the burden of the proposed collection of information; (3) Ways to enhance the quality, utility, and clarity of the information to be collected; and (4) Ways to minimize the burden of the collection of information on those who are to respond; including through the use of appropriate automated collection techniques or other forms of information technology, e.g., permitting electronic submission of responses. HUD encourages interested parties to submit comment in response to these questions. Authority: Section 3507 of the Paperwork Reduction Act of 1995, 44 U.S.C. Chapters 35. Dated: January 16, 2014. Colette Pollard, Department Reports Management Officer, Office of the Chief Information Officer. [FR Doc. 2014–01321 Filed 1–22–14; 8:45 am] BILLING CODE 4210–67–P DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT [Docket No. FR–5752–N–03] 30-Day Notice of Proposed Information Collection: Historically Black Colleges and Universities Program Office of the Chief Information Officer, HUD. AGENCY: ACTION: Notice. HUD has submitted the proposed information collection requirement described below to the Office of Management and Budget (OMB) for review, in accordance with the Paperwork Reduction Act. The purpose of this notice is to allow for an additional 30 days of public comment. DATES: Comments Due Date: February 24, 2014. ADDRESSES: Interested persons are invited to submit comments regarding this proposal. Comments should refer to the proposal by name and/or OMB Control Number and should be sent to: HUD Desk Officer, Office of Management and Budget, New Executive Office Building, Washington, DC 20503; fax: 202–395–5806. Email: OIRA_Submission@omb.eop.gov. FOR FURTHER INFORMATION CONTACT: Colette Pollard, Reports Management Officer, QDAM, Department of Housing and Urban Development, 451 7th Street SW., Washington, DC 20410; email Colette Pollard at Colette.Pollard@ hud.gov or telephone 202–402–3400. Persons with hearing or speech impairments may access this number through TTY by calling the toll-free Federal Relay Service at (800) 877–8339. This is not a toll-free number. Copies of available documents submitted to OMB may be obtained from Ms. Pollard. SUPPLEMENTARY INFORMATION: This notice informs the public that HUD has SUMMARY: Number of respondents submitted to OMB a request for approval of the information collection described in Section A. The Federal Register notice that solicited public comment on the information collection for a period of 60 days was published on October 23, 2013. A. Overview of Information Collection Title of Information Collection: Historically Black Colleges and Universities Program. OMB Approval Number: 2528–0235. Type of Request: Reinstatement without change of a previously approved collection. Form Number: SF–425 and HUD– 40077. Description of the need for the information and proposed use: The information is being collected to monitor performance of grantees to ensure they meet statutory and program goals and requirements. Respondents (i.e. affected public): Historically Black Colleges and Universities (HBCU). Estimation of the total number of hours needed to prepare the information collection including number of respondents, frequency of response, and hours of response: Information pursuant to grant award will be submitted once a year. The following chart details the respondent burden on a quarterly, semiannual and annual basis: Total annual responses Hours per response Total hours Quarterly Report .............................................................................................. Final Reports ................................................................................................... Recordkeeping ................................................................................................. 27 8 27 108 8 27 8 12 10 864 96 270 Total .......................................................................................................... 62 143 30 1,230 sroberts on DSK5SPTVN1PROD with NOTICES B. Solicitation of Public Comment This notice is soliciting comments from members of the public and affected parties concerning the collection of information described in Section A on the following: (1) Whether the proposed collection of information is necessary for the proper performance of the functions of the agency, including whether the information will have practical utility; (2) The accuracy of the agency’s estimate of the burden of the proposed collection of information; (3) Ways to enhance the quality, utility, and clarity of the information to be collected; and (4) Ways to minimize the burden of the collection of information on those who are to respond; including through the use of appropriate VerDate Mar<15>2010 21:50 Jan 22, 2014 Jkt 232001 automated collection techniques or other forms of information technology, e.g., permitting electronic submission of responses. HUD encourages interested parties to submit comment in response to these questions. Authority: Section 3507 of the Paperwork Reduction Act of 1995, 44 U.S.C. Chapters 35. Dated: January 16, 2014. Colette Pollard, Department Reports Management Officer, Office of the Chief Information Officer. [FR Doc. 2014–01359 Filed 1–22–14; 8:45 am] BILLING CODE 4210–67–P PO 00000 Frm 00077 Fmt 4703 Sfmt 4703 DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT [Docket No. FR–5766–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: 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 SUMMARY: E:\FR\FM\23JAN1.SGM 23JAN1 sroberts on DSK5SPTVN1PROD with NOTICES 3852 Federal Register / Vol. 79, No. 15 / Thursday, January 23, 2014 / Notices debentures issued under section 221(g)(4) of the Act during the 6-month period beginning January 1, 2014, is 2 1⁄2 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 January 1, 2014, is 3 5⁄8 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 5148, 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 VerDate Mar<15>2010 21:50 Jan 22, 2014 Jkt 232001 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 January 1, 2014, is 3 5⁄8 percent; and (2) has approved the establishment of the debenture interest rate by the Secretary of HUD at 3 5⁄8 percent for the 6-month period beginning January 1, 2014. 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 first 6 months of 2014. 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 9 1/2 .......... 9 7/8 .......... 11 3/4 ........ 12 7/8 ........ 12 3/4 ........ 10 1/4 ........ 10 3/8 ........ 11 1/2 ........ 13 3/8 ........ 11 5/8 ........ 11 1/8 ........ 10 1/4 ........ 8 1/4 .......... 8 ................ 9 ................ 9 1/8 .......... 9 3/8 .......... 9 1/4 .......... 9 ................ 8 1/8 .......... 9 ................ 8 3/4 .......... 8 1/2 .......... 8 ................ 8 ................ 7 3/4 .......... 7 ................ 6 5/8 .......... 7 3/4 .......... 8 3/8 .......... 7 1/4 .......... 6 1/2 .......... 7 1/4 .......... 6 3/4 .......... 7 1/8 .......... 6 3/8 .......... 6 1/8 .......... 5 1/2 .......... 6 1/8 .......... 6 1/2 .......... 6 1/2 .......... 6 ................ 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 PO 00000 Frm 00078 Fmt 4703 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. Sfmt 4703 Effective interest rate 5 5 5 5 4 5 5 4 4 4 5 4 5 4 4 4 4 4 4 3 4 2 2 2 2 3 7/8 .......... 1/4 .......... 3/4 .......... ................ 1/2 .......... 1/8 .......... 1/2 .......... 7/8 .......... 1/2 .......... 7/8 .......... 3/8 .......... 3/4 .......... ................ 1/2 .......... 5/8 .......... 1/8 .......... 1/8 .......... 1/4 .......... 1/8 .......... 7/8 .......... 1/8 .......... 7/8 .......... 3/4 .......... 1/2 .......... 7/8 .......... 5/8 .......... On or after 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 July 1, 2008 Jan. 1, 2009 July 1, 2009 Jan. 1, 2010 July 1, 2010 Jan. 1, 2011 July 1, 2011 Jan. 1, 2012 July 1, 2012 Jan. 1, 2013 July 1, 2013 Jan. 1, 2014 Prior to .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. 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. July 1, 2008. Jan. 1, 2009. July 1, 2009. Jan. 1, 2010. July 1, 2010. Jan. 1, 2011. July 1, 2011. Jan. 1, 2012. July 1, 2012. Jan. 1, 2013. July 1, 2013. Jan. 1, 2014. July 1, 2014. Section 215 of Division G, Title II of Public Law 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 E:\FR\FM\23JAN1.SGM 23JAN1 Federal Register / Vol. 79, No. 15 / Thursday, January 23, 2014 / Notices borne by debentures issued pursuant to section 221(g)(4) during the 6-month period beginning January 1, 2014, is 2 1/2 percent. 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: January 10, 2014. Carol J. Galante, Assistant Secretary for Housing–Federal Housing Commissioner. [FR Doc. 2014–01329 Filed 1–22–14; 8:45 am] BILLING CODE 4210–67–P DEPARTMENT OF THE INTERIOR Fish and Wildlife Service [FWS–R1–ES–2013–N298; FXES11130100000–145–FF01E00000] Endangered and Threatened Wildlife and Plants; Recovery Permit Application Fish and Wildlife Service, Interior. ACTION: Notice of availability; request for comments. AGENCY: We, the U.S. Fish and Wildlife Service, invite the public to comment on the following application for a recovery permit to conduct activities with the purpose of enhancing the survival of an endangered species. The Endangered Species Act of 1973, as amended (Act), prohibits certain activities with endangered species unless a Federal permit allows such activity. The Act also requires that we invite public comment before issuing such permits. DATES: To ensure consideration, please send your written comments by February 24, 2014. ADDRESSES: Program Manager for Restoration and Endangered Species Classification, Ecological Services, U.S. Fish and Wildlife Service, Pacific Regional Office, 911 NE 11th Avenue, Portland, OR 97232–4181. Please refer to the permit number for the application when submitting comments. FOR FURTHER INFORMATION CONTACT: Colleen Henson, Fish and Wildlife Biologist, at the above address or by telephone (503–231–6131) or fax (503– 231–6243). SUPPLEMENTARY INFORMATION: sroberts on DSK5SPTVN1PROD with NOTICES SUMMARY: VerDate Mar<15>2010 21:50 Jan 22, 2014 Jkt 232001 Background The Act (16 U.S.C. 1531 et seq.) prohibits certain activities with respect to endangered and threatened species unless a Federal permit allows such activity. Along with our implementing regulations in the Code of Federal Regulations (CFR) at 50 CFR part 17, the Act provides for certain permits, and requires that we invite public comment before issuing these permits for endangered species. A permit granted by us under section 10(a)(1)(A) of the Act authorizes the permittee to conduct activities (including take or interstate commerce) with respect to U.S. endangered or threatened species for scientific purposes or enhancement of propagation or survival. Our regulations implementing section 10(a)(1)(A) of the Act for these permits are found at 50 CFR 17.22 for endangered wildlife species, 50 CFR 17.32 for threatened wildlife species, 50 CFR 17.62 for endangered plant species, and 50 CFR 17.72 for threatened plant species. Application Available for Review and Comment We invite local, State, and Federal agencies, and the public to comment on the following application. Please refer to the appropriate permit number for the application when submitting comments. Documents and other information submitted with this application are available for review by request from the Program Manager for Restoration and Endangered Species Classification at the address listed in the ADDRESSES section of this notice, subject to the requirements of the Privacy Act (5 U.S.C. 552a) and the Freedom of Information Act (5 U.S.C. 552). Permit Number: TE–24048B Applicant: Power Engineers, Incorporated, Meridian, Idaho. The applicant requests a new recovery permit to take (survey) the Snake River physa (Physa natricina) in Idaho for the purpose of scientific research and enhancing the species’ survival. Public Availability of Comments All comments and materials we receive in response to this request will be available for public inspection, by appointment, during normal business hours at the address listed in the ADDRESSES section of this notice. Before including your address, phone number, email address, or other personal identifying information in your comment, you should be aware that your entire comment—including your personal identifying information—may be made publicly available at any time. PO 00000 Frm 00079 Fmt 4703 Sfmt 4703 3853 While you can ask us in your comment to withhold your personal identifying information from public review, we cannot guarantee that we will be able to do so. Authority We provide this notice under section 10 of the Act (16 U.S.C. 1531 et seq.). Dated: January 9, 2014. Richard Hannan, Acting Regional Director, Pacific Region, U.S. Fish and Wildlife Service. [FR Doc. 2014–00836 Filed 1–22–14; 8:45 am] BILLING CODE 4310–55–P DEPARTMENT OF THE INTERIOR Fish and Wildlife Service [FWS–R3–ES–2014–N002; FXES11130300000F3–145–FF03E00000] Endangered and Threatened Wildlife and Plants; Permit Applications Fish and Wildlife Service, Interior. ACTION: Notice of availability of permit applications; request for comments. AGENCY: We, the U.S. Fish and Wildlife Service (USFWS), invite the public to comment on the following applications to conduct certain activities with endangered species. With some exceptions, the Endangered Species Act (Act) prohibits activities with endangered and threatened species unless a Federal permit allows such activity. The Act requires that we invite public comment before issuing these permits. DATES: We must receive any written comments on or before February 24, 2014. ADDRESSES: Send written comments by U.S. mail to the Regional Director, Attn: Karl Tinsley, U.S. Fish and Wildlife Service, Ecological Services, 5600 American Blvd. West, Suite 990, Bloomington, MN 55437–1458; or by electronic mail to permitsR3ES@fws.gov. FOR FURTHER INFORMATION CONTACT: Karl Tinsley, (612) 713–5330. SUPPLEMENTARY INFORMATION: SUMMARY: Background We invite public comment on the following permit applications for certain activities with endangered species authorized by section 10(a)(1)(A) of the Act (16 U.S.C. 1531 et seq.) and our regulations governing the taking of endangered species in the Code of Federal Regulations (CFR) at 50 CFR part 17. Submit your written data, comments, or request for a copy of the E:\FR\FM\23JAN1.SGM 23JAN1

Agencies

[Federal Register Volume 79, Number 15 (Thursday, January 23, 2014)]
[Notices]
[Pages 3851-3853]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2014-01329]


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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

[Docket No. FR-5766-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

[[Page 3852]]

debentures issued under section 221(g)(4) of the Act during the 6-month 
period beginning January 1, 2014, is 2 \1/2\ 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 January 1, 
2014, is 3 \5/8\ 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 5148, 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 January 1, 2014, is 3 \5/8\ percent; and 
(2) has approved the establishment of the debenture interest rate by 
the Secretary of HUD at 3 \5/8\ percent for the 6-month period 
beginning January 1, 2014. 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 first 6 
months of 2014.
    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.
4 1/2...........................  Jan. 1, 2008......  July 1, 2008.
4 5/8...........................  July 1, 2008......  Jan. 1, 2009.
4 1/8...........................  Jan. 1, 2009......  July 1, 2009.
4 1/8...........................  July 1, 2009......  Jan. 1, 2010.
4 1/4...........................  Jan. 1, 2010......  July 1, 2010.
4 1/8...........................  July 1, 2010......  Jan. 1, 2011.
3 7/8...........................  Jan. 1, 2011......  July 1, 2011.
4 1/8...........................  July 1, 2011......  Jan. 1, 2012.
2 7/8...........................  Jan. 1, 2012......  July 1, 2012.
2 3/4...........................  July 1, 2012......  Jan. 1, 2013.
2 1/2...........................  Jan. 1, 2013......  July 1, 2013.
2 7/8...........................  July 1, 2013......  Jan. 1, 2014.
3 5/8...........................  Jan. 1, 2014......  July 1, 2014.
------------------------------------------------------------------------

    Section 215 of Division G, Title II of Public Law 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

[[Page 3853]]

borne by debentures issued pursuant to section 221(g)(4) during the 6-
month period beginning January 1, 2014, is 2 1/2 percent.
    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: January 10, 2014.
Carol J. Galante,
Assistant Secretary for Housing-Federal Housing Commissioner.
[FR Doc. 2014-01329 Filed 1-22-14; 8:45 am]
BILLING CODE 4210-67-P