Mortgage and Loan Insurance Programs Under the National Housing Act-Debenture Interest Rates, 49245-49247 [2016-17783]

Download as PDF Federal Register / Vol. 81, No. 144 / Wednesday, July 27, 2016 / Notices Community 49245 Community map repository address Ulster County, New York (All Jurisdictions) Docket No.: FEMA–B–1404 Town of Denning ...................................................................................... Town Town Town Town Town Town of of of of of of Hardenburgh ............................................................................... Hurley ......................................................................................... Marbletown ................................................................................. Olive ........................................................................................... Shandaken ................................................................................. Wawarsing .................................................................................. Town of Woodstock .................................................................................. [FR Doc. 2016–17727 Filed 7–26–16; 8:45 am] BILLING CODE 9110–12–P DEPARTMENT OF HOMELAND SECURITY Secret Service 30-Day Notice and Request for Comments The Department of Homeland Security (DHS) has submitted the following information collection requests (ICR) to the Office of Management and Budget (OMB) for review and clearance in accordance with the Paperwork Reduction Act of 1995: 1620–0002. This information collection was previously published in the Federal Register on May 19, 2016 at 81 FR 31652, allowing for OMB review and a 60-day public comment period. No comments were received. This notice allows for an additional 30 days for public comment. DATES: Comments are encouraged and will be accepted until August 26, 2016. ADDRESSES: Written comments and/or suggestions regarding the items contained in this notice should be directed to the Office of Information and Regulatory Affairs, Office of Management and Budget, Attn: Desk Officer for United States Secret Service, Department of Homeland Security, and sent via electronic mail to oira_ submission@omb.eop.gov; or faxed to 202–395–5806. FOR FURTHER INFORMATION CONTACT: Requests for additional information or copies of the form(s) and instructions should be directed to: United States Secret Service, Security Management Division, Attn: ATSAIC Jonathan Bryant, Communications Center (SMD), 345 Murray Lane SW., Building T5, Washington, DC 20223. Telephone number: 202–406–6658. SUPPLEMENTARY INFORMATION: Section 3506 of the Paperwork Reduction Act of 1995 (44 U.S.C. Chapter 35) requires sradovich on DSK3GMQ082PROD with NOTICES SUMMARY: VerDate Sep<11>2014 17:01 Jul 26, 2016 Jkt 238001 Denning Town Clerk’s Office, 1567 Denning Road, Claryville, NY 12725. Hardenburgh Town Hall, 51 Rider Hollow Road, Arkville, NY 12406. Town Hall, 10 Wamsley Place, Hurley, NY 12443. Marbletown Town Hall, 1915 Lucas Avenue, Cottekill, NY 12419. Olive Town Hall, 45 Watson Hollow Road, West Shokan, NY 12494. Town Hall, 7209 Route 28, Shandaken, NY 12480. Wawarsing Town Assessor’s Office and Building Department, 108 Canal Street, Ellenville, NY 12428. Town Clerk’s Office, 45 Comeau Drive, Woodstock, NY 12498. each Federal agency to provide interested Federal agencies and the public an early opportunity to comment on information collection requests. The notice for this proposed information collection contains the following: (1) The name of the component of the U.S. Department of Homeland Security; (2) Type of review requested, e.g., new, revision, extension, existing or reinstatement; (3) OMB Control Number, if applicable; (4) Title; (5) Summary of the collection; (6) Description of the need for, and proposed use of, the information; (7) Respondents and frequency of collection; and (8) Reporting and/or recordkeeping burden. The Department of Homeland Security invites public comment. The Department of Homeland Security is especially interested in public comment addressing the following issues: (1) Is this collection necessary to the proper functions of the Department, including whether the information will have practical utility; (2) Is the estimate of burden for this information collection accurate; (3) How might the Department enhance the quality, utility, and clarity of the information to be collected; and (4) How might the Department minimize the burden of this collection on the respondents, including through the use of information technology. All comments will become a matter of public record. In this document the U.S. Secret Service is soliciting comments concerning the following information collection: Title: U.S. Secret Service Facility Access Request. OMB Number: 1620–0002. Form Number: SSF 3237. Abstract: Respondents are primarily Secret Service contractor personnel or non-Secret Service Government employees on official business that require access to Secret Service controlled facilities in performance of official duties. These individuals, if approved for access, will require PO 00000 Frm 00038 Fmt 4703 Sfmt 4703 escorted, unescorted, and staff-like access to Secret Service-controlled facilities. Responses to questions on the SSF 3237 yield information necessary for the adjudication of eligibility for facility access. Agency: Department of Homeland Security, United States Secret Service. Frequency: Occasionally. Type of Review: Revision of a currently approved collection. Affected Public: Individuals or Households/Business. Estimated Number of Respondents: 5000. Estimated Time per Respondent: 15 minutes. Estimated Total Annual Burden Hours: 1250 hours. Estimated Total Burden Cost (capital/ startup): None. Total Burden Cost (operating/ maintaining): None. Authority: This process is conduced in accordance with 5 CFR 1320.10. Dated: July 19, 2016. Nancy House, Acting Deputy Chief—Policy, Management and Organization Division, U.S. Secret Service, U.S. Department of Homeland Security. [FR Doc. 2016–17748 Filed 7–26–16; 8:45 am] BILLING CODE 4810–42–P DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT [Docket No. FR–5927–N–02] 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 SUMMARY: E:\FR\FM\27JYN1.SGM 27JYN1 sradovich on DSK3GMQ082PROD with NOTICES 49246 Federal Register / Vol. 81, No. 144 / Wednesday, July 27, 2016 / Notices 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, 2016, is 1 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 July 1, 2016, is 2 1/2 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 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 VerDate Sep<11>2014 17:01 Jul 26, 2016 Jkt 238001 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, 2016, is 21⁄2percent; and (2) has approved the establishment of the debenture interest rate by the Secretary of HUD at 21⁄2percent for the 6-month period beginning July 1, 2016. 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 2016. 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 ⁄ ............. ⁄ ............. 113⁄4 ........... 127⁄8 ........... 123⁄4 ........... 101⁄4 ........... 103⁄8 ........... 111⁄2 ........... 133⁄8 ........... 115⁄8 ........... 111⁄8 ........... 10 1⁄4 ........... 8 1⁄4 ............ 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 ............. 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 .. 91 2 97 8 PO 00000 Frm 00039 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. Sfmt 4703 Effective interest rate On or after ⁄ ............. ................. 57⁄8 ............. 51⁄4 ............. 53⁄4 ............. 5 ................. 41⁄2 ............. 51⁄8 ............. 51⁄2 ............. 47⁄8 ............. 41⁄2 ............. 47⁄8 ............. 53⁄8 ............. 43⁄4 ............. 5 ................. 41⁄2 ............ 45⁄8 ............ 41⁄8 ............. 41⁄8 ............. 41⁄4 ............. 41⁄8 ............ 37⁄8 ............ 41⁄8 ............. 27⁄8 ............. 23⁄4 ............ 21⁄2 ............. 27⁄8 ............. 35⁄8 ............. 31⁄4 ............. 3 ................. 27⁄8 ............. 27⁄8 ............. 21⁄2 ............ 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 .. 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 ... Jan. 1, 2015 .. July 1, 2015 ... Jan. 1, 2016 .. July 1, 2016 ... 61 2 6 Prior to 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. 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. Jan. 1, 2015. July 1, 2015. Jan. 1, 2016. July 1, 2016. Jan. 1, 2017. 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 E:\FR\FM\27JYN1.SGM 27JYN1 49247 Federal Register / Vol. 81, No. 144 / Wednesday, July 27, 2016 / Notices 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, 2016, is 1 3/4 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: July 15, 2016. Edward L. Golding, Principal Deputy Assistant Secretary for Housing. [FR Doc. 2016–17783 Filed 7–26–16; 8:45 am] BILLING CODE 4210–67–P DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT [Docket No. FR–5915–C–05] 60 Day Notice of Proposed Information Collection for License for the Use of Personally Identifiable Information Protected Under the Privacy Act of 1974 Office of Policy Development and Research, HUD. ACTION: Correction; notice. AGENCY: This notice replaces the document HUD published on July 11, 2016 at 81 FR 44891. The proposed information collection requirement described below will be submitted to the Office of Management and Budget SUMMARY: (OMB) for review, as required by the Paperwork Reduction Act. The Department is soliciting public comments on the subject proposal. DATES: Comments Due Date: September 26, 2016. 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: Anna Guido, Reports Management Officer, QDAM, Department of Housing and Urban Development, 451 7th Street SW., Room 4176, Washington, DC 20410–5000; telephone 202–402–5535 (this is not a toll-free number) or email at Anna.P.Guido@hud.gov for a copy of the proposed forms or other available information. Persons with hearing or speech impairments may access this number through TTY by calling the tollfree Federal Relay Service at (800) 877– 8339. FOR FURTHER INFORMATION CONTACT: Anna Guido, Reports Management Officer, QDAM, Department of Housing and Urban Development, 451 7th Street SW., Washington, DC 20410; email Anna Guido at Anna.P.Guido@hud.gov or telephone 202–402–5535. This is not a toll-free number. Persons with hearing or speech impairments may access this number through TTY by calling the tollfree Federal Relay Service at (800) 877– 8339. Copies of available documents submitted to OMB may be obtained from Ms. Guido. SUPPLEMENTARY INFORMATION: The Department will submit the proposed information collection to OMB for review, as required by the Paperwork Reduction Act of 1995 (44 U.S.C. chapter 35, as amended). This notice is soliciting comments from members of the public and affected agencies concerning the proposed collection of information to: (1) Evaluate whether the proposed collection of information is Number of respondents Instrument necessary for the proper performance of the functions of the agency, including if the information will have practical utility; (2) Evaluate the accuracy of the agency’s estimate of the burden of proposed collection of information; (3) Enhance the quality, utility, and clarity of the information to be collected; and (4) 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. This notice also lists the following information: Title of Proposal: License for the Use of Personally Identifiable Information Protected Under the Privacy Act of 1974. Description of the need for information and proposed use: The United States Department of Housing and Urban Department (HUD) has collected and maintains personally identifiable information, the confidentiality of which is protected by the Privacy Act of 1974 (5 U.S.C. 522A). HUD wishes to make the data available for statistical, research, or evaluation purposes for qualified organizations capable of research and analysis consistent with the statistical, research, or evaluation purposes for which the data were provided or are maintained, but only if the data are used and protected in accordance with the terms and conditions stated in this license (License). Upon receipt of such assurance of qualification and capability, it is hereby agreed between HUD and (Name of the organization to be licensed) that the license be granted. Estimation of the total number of hours needed to prepare the information collection including number of respondents, frequency of response, and hours of response: Total annual responses Hours per response Total hours 12 0 40 6 12 12 0 40 6 36 1 0 1 .25 0.5 12 0 40 1.5 18 Total .......................................................................................................... sradovich on DSK3GMQ082PROD with NOTICES Applicants ........................................................................................................ Quarterly Reports ............................................................................................ Annual Reports ................................................................................................ Final Reports ................................................................................................... Recordkeeping ................................................................................................. 12 94 2.75 71.5 VerDate Sep<11>2014 17:01 Jul 26, 2016 Jkt 238001 PO 00000 Frm 00040 Fmt 4703 Sfmt 4703 E:\FR\FM\27JYN1.SGM 27JYN1

Agencies

[Federal Register Volume 81, Number 144 (Wednesday, July 27, 2016)]
[Notices]
[Pages 49245-49247]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-17783]


[Docket No. FR-5927-N-02]


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

[[Page 49246]]

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, 2016, 
is 1 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 July 1, 2016, is 2 1/2 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 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, 2016, is \21/2\percent; and (2) 
has approved the establishment of the debenture interest rate by the 
Secretary of HUD at \21/2\percent for the 6-month period beginning July 
1, 2016. 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 2016.
    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
------------------------------------------------------------------------
\91/2\..........................   Jan. 1, 1980.....  July 1, 1980.
\97/8\..........................   July 1, 1980.....  Jan. 1, 1981.
\113/4\.........................   Jan. 1, 1981.....  July 1, 1981.
\127/8\.........................   July 1, 1981.....  Jan. 1, 1982.
\123/4\.........................   Jan. 1, 1982.....  Jan. 1, 1983.
\101/4\.........................   Jan. 1, 1983.....  July 1, 1983.
\103/8\.........................   July 1, 1983.....  Jan. 1, 1984.
\111/2\.........................   Jan. 1, 1984.....  July 1, 1984.
\133/8\.........................   July 1, 1984.....  Jan. 1, 1985.
\115/8\.........................   Jan. 1, 1985.....  July 1, 1985.
\111/8\.........................   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.
\91/8\..........................   Jan. 1, 1988.....  July 1, 1988.
\93/8\..........................  July 1, 1988......  Jan. 1, 1989.
\91/4\..........................   Jan. 1, 1989.....  July 1, 1989.
\9\.............................   July 1, 1989.....  Jan. 1, 1990.
\81/8\..........................   Jan. 1, 1990.....  July 1, 1990.
\9\.............................   July 1, 1990.....  Jan. 1, 1991.
\83/4\..........................  Jan. 1, 1991......  July 1, 1991.
\81/2\..........................   July 1, 1991.....  Jan. 1, 1992.
\8\.............................  Jan. 1, 1992......  July 1, 1992.
\8\.............................   July 1, 1992.....  Jan. 1, 1993.
\73/4\..........................  Jan. 1, 1993......  July 1, 1993.
\7\.............................   July 1, 1993.....  Jan. 1, 1994.
\65/8\..........................   Jan. 1, 1994.....  July 1, 1994.
\73/4\..........................   July 1, 1994.....  Jan. 1, 1995.
\83/8\..........................   Jan. 1, 1995.....  July 1, 1995.
\71/4\..........................   July 1, 1995.....  Jan. 1, 1996.
\61/2\..........................   Jan. 1, 1996.....  July 1, 1996.
\71/4\..........................   July 1, 1996.....  Jan. 1, 1997.
\63/4\..........................   Jan. 1, 1997.....  July 1, 1997.
\71/8\..........................   July 1, 1997.....  Jan. 1, 1998.
\63/8\..........................   Jan. 1, 1998.....  July 1, 1998.
\61/8\..........................  July 1, 1998......  Jan. 1, 1999.
\51/2\..........................   Jan. 1, 1999.....  July 1, 1999.
\61/8\..........................   July 1, 1999.....  Jan. 1, 2000.
\61/2\..........................   Jan. 1, 2000.....  July 1, 2000.
\61/2\..........................   July 1, 2000.....  Jan. 1, 2001.
\6\.............................  Jan. 1, 2001......  July 1, 2001.
\57/8\..........................   July 1, 2001.....  Jan. 1, 2002.
\51/4\..........................  Jan. 1, 2002......  July 1, 2002.
\53/4\..........................  July 1, 2002......  Jan. 1, 2003.
\5\.............................  Jan. 1, 2003......  July 1, 2003.
\41/2\..........................   July 1, 2003.....  Jan. 1, 2004.
\51/8\..........................  Jan. 1, 2004......  July 1, 2004.
\51/2\..........................  July 1, 2004......  Jan. 1, 2005.
\47/8\..........................  Jan. 1, 2005......  July 1, 2005.
\41/2\..........................   July 1, 2005.....  Jan. 1, 2006.
\47/8\..........................   Jan. 1, 2006.....  July 1, 2006.
\53/8\..........................  July 1, 2006......  Jan. 1, 2007.
\43/4\..........................  Jan. 1, 2007......  July 1, 2007.
\5\.............................   July 1, 2007.....  Jan. 1, 2008.
\41/2 \.........................   Jan. 1, 2008.....  July 1, 2008.
\45/8 \.........................   July 1, 2008.....  Jan. 1, 2009.
\41/8\..........................  Jan. 1, 2009......  July 1, 2009.
\41/8\..........................   July 1, 2009.....  Jan. 1, 2010.
\41/4\..........................  Jan. 1, 2010......  July 1, 2010.
\41/8 \.........................   July 1, 2010.....  Jan. 1, 2011.
\37/8 \.........................  Jan. 1, 2011......  July 1, 2011.
\41/8\..........................  July 1, 2011......  Jan. 1, 2012.
\27/8\..........................   Jan. 1, 2012.....  July 1, 2012.
\23/4 \.........................  July 1, 2012......  Jan. 1, 2013.
\21/2\..........................  Jan. 1, 2013......  July 1, 2013.
\27/8\..........................  July 1, 2013......  Jan. 1, 2014.
\35/8\..........................   Jan. 1, 2014.....  July 1, 2014.
\31/4\..........................  July 1, 2014......  Jan. 1, 2015.
\3\.............................  Jan. 1, 2015......  July 1, 2015.
\27/8\..........................   July 1, 2015.....  Jan. 1, 2016.
\27/8\..........................   Jan. 1, 2016.....  July 1, 2016.
\21/2 \.........................  July 1, 2016......  Jan. 1, 2017.
------------------------------------------------------------------------

    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

[[Page 49247]]

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, 2016, is 1 3/4 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: July 15, 2016.
Edward L. Golding,
Principal Deputy Assistant Secretary for Housing.
[FR Doc. 2016-17783 Filed 7-26-16; 8:45 am]
 BILLING CODE 4210-67-P