Mortgage and Loan Insurance Programs Under the National Housing Act-Debenture Interest Rates, 34685-34686 [2017-15668]
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34685
Federal Register / Vol. 82, No. 142 / Wednesday, July 26, 2017 / Notices
U.S. Customs and Border Protection
Accreditation and Approval of Intertek
USA, Inc., as a Commercial Gauger
and Laboratory
U.S. Customs and Border
Protection, Department of Homeland
Security.
ACTION: Notice of accreditation and
approval of Intertek USA, Inc., as a
commercial gauger and laboratory.
AGENCY:
Notice is hereby given,
pursuant to CBP regulations, that
Intertek USA, Inc., has been approved to
gauge petroleum and certain petroleum
products and accredited to test
petroleum and certain petroleum
products for customs purposes for the
next three years as of February 8, 2017.
SUMMARY:
CBPL No.
ASTM
..............
..............
..............
..............
..............
D287
D473
D86
D445
D4294
27–14
27–48
27–50
27–53
27–54
27–57
..............
..............
..............
..............
..............
..............
D2622
D4052
D93
D2709
D1796
D7039
27–58 ..............
mstockstill on DSK30JT082PROD with NOTICES
27–01
27–06
27–08
27–11
27–13
D5191
API chapters
1 .....................
3 .....................
7 .....................
8 .....................
12 ...................
17 ...................
Title
Vocabulary.
Tank gauging.
Temperature determination.
Sampling.
Calculations.
Maritime measurement.
Intertek USA, Inc., is accredited for
the following laboratory analysis
procedures and methods for petroleum
and certain petroleum products set forth
by the U.S. Customs and Border
Protection Laboratory Methods (CBPL)
and American Society for Testing and
Materials (ASTM):
Standard Test Method for API Gravity of Crude Petroleum and Petroleum Products (Hydrometer Method).
Standard Test Method for Sediment in Crude Oils and Fuel Oils by the Extraction Method.
Standard Test Method for Distillation of Petroleum Products.
Standard Test Method for Kinematic Viscosity of Transparent and Opaque Liquids.
Standard Test Method for Sulfur in Petroleum and Petroleum Products by Energy-Dispersive X-ray Fluorescence
Spectrometry.
Standard Test Method for Sulfur in Petroleum Products (X-Ray Spectrographic Methods).
Standard Test Method for Density and Relative Density of Liquids by Digital Density Meter.
Standard Test Methods for Flash-Point by Pensky-Martens Closed Cup Tester.
Standard Test Method for Water and Sediment in Middle Distillate Fuels by Centrifuge.
Standard Test Method for Water and Sediment in Fuel Oils by the Centrifuge Method.
Standard Test Method for Sulfur in Gasoline and Diesel Fuel by Monochromatic Wavelength Dispersive X-Ray Fluorescence Spectrometry.
Standard Test Method For Vapor Pressure of Petroleum Products (Mini Method).
Dated: July 18, 2017.
Ira S. Reese,
Executive Director, Laboratories and
Scientific Services Directorate.
[FR Doc. 2017–15638 Filed 7–25–17; 8:45 am]
BILLING CODE 9111–14–P
17:49 Jul 25, 2017
CFR 151.12 and 19 CFR 151.13. Intertek
USA, Inc., is approved for the following
gauging procedures for petroleum and
certain petroleum products from the
American Petroleum Institute (API):
Title
Anyone wishing to employ this entity
to conduct laboratory analyses and
gauger services should request and
receive written assurances from the
entity that it is accredited or approved
by the U.S. Customs and Border
Protection to conduct the specific test or
gauger service requested. Alternatively,
inquiries regarding the specific test or
gauger service this entity is accredited
or approved to perform may be directed
to the U.S. Customs and Border
Protection by calling (202) 344–1060.
The inquiry may also be sent to
CBPGaugersLabs@cbp.dhs.gov. Please
reference the Web site listed below for
a complete listing of CBP approved
gaugers and accredited laboratories.
https://www.cbp.gov/about/labsscientific/commercial-gaugers-andlaboratories.
VerDate Sep<11>2014
The accreditation and approval
of Intertek USA, Inc., as commercial
gauger and laboratory became effective
on February 8, 2017. The next triennial
inspection date will be scheduled for
February 2020.
FOR FURTHER INFORMATION CONTACT:
Christopher J. Mocella, Laboratories and
Scientific Services Directorate, U.S.
Customs and Border Protection, 1300
Pennsylvania Avenue NW., Suite
1500N, Washington, DC 20229, tel. 202–
344–1060.
SUPPLEMENTARY INFORMATION: Notice is
hereby given pursuant to 19 CFR 151.12
and 19 CFR 151.13, that Intertek USA,
Inc., 481A East Shore Parkway, New
Haven, CT 06512, has been approved to
gauge petroleum and certain petroleum
products and accredited to test
petroleum and certain petroleum
products for customs purposes, in
accordance with the provisions of 19
DATES:
DEPARTMENT OF HOMELAND
SECURITY
Jkt 241001
DEPARTMENT OF HOUSING AND
URBAN DEVELOPMENT
[Docket No. FR–6015–N–02]
Mortgage and Loan Insurance
Programs Under the National Housing
Act—Debenture Interest Rates
Office of the Assistant
Secretary for Housing, 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
debentures issued under Section
221(g)(4) of the Act during the 6-month
period beginning July 1, 2017, is 21⁄4
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
SUMMARY:
PO 00000
Frm 00063
Fmt 4703
Sfmt 4703
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, 2017, is 27⁄8 percent.
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
E:\FR\FM\26JYN1.SGM
26JYN1
34686
Federal Register / Vol. 82, No. 142 / Wednesday, July 26, 2017 / Notices
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, 2017, is 27⁄8
percent; and (2) has approved the
establishment of the debenture interest
rate by the Secretary of HUD at 27⁄8
percent for the 6-month period
beginning July 1, 2017. 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 2017.
For convenience of reference, HUD is
publishing the following chart of
debenture interest rates applicable to
mortgages committed or endorsed since
January 1, 1980:
mstockstill on DSK30JT082PROD with NOTICES
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 ............
VerDate Sep<11>2014
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
prior to
...
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...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
17:49 Jul 25, 2017
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
Jkt 241001
Effective
interest
rate
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 ...............
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 ............
23⁄4 ............
27⁄8 ............
on or after
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
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
July 1, 2017
prior to
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
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
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
July 1, 2017
Jan. 1, 2018
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
PO 00000
Frm 00064
Fmt 4703
Sfmt 4703
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, 2017, is 21⁄4
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 14, 2017.
Dana T. Wade,
General Deputy Assistant Secretary for
Housing.
[FR Doc. 2017–15668 Filed 7–25–17; 8:45 am]
BILLING CODE 4210–67–P
DEPARTMENT OF THE INTERIOR
Bureau of Indian Affairs
[178A2100DD/AAKC001030/
A0A501010.999900 253G]
Agency Information Collection
Activities: OMB Control Number 1076–
0178; Native American Business
Development Institute (NABDI)
Funding Solicitations and Reporting
Bureau of Indian Affairs,
Interior.
ACTION: Notice of request for comments.
AGENCY:
In compliance with the
Paperwork Reduction Act of 1995, the
Assistant Secretary—Indian Affairs is
SUMMARY:
E:\FR\FM\26JYN1.SGM
26JYN1
]]>Agencies
[Federal Register Volume 82, Number 142 (Wednesday, July 26, 2017)]
[Notices]
[Pages 34685-34686]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-15668]
=======================================================================
-----------------------------------------------------------------------
DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
[Docket No. FR-6015-N-02]
Mortgage and Loan Insurance Programs Under the National Housing
Act--Debenture Interest Rates
AGENCY: Office of the Assistant Secretary for Housing, 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, 2017, is 2\1/4\ 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, 2017, is 2\7/8\ percent.
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
[[Page 34686]]
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, 2017, is 2\7/8\ percent; and (2)
has approved the establishment of the debenture interest rate by the
Secretary of HUD at 2\7/8\ percent for the 6-month period beginning
July 1, 2017. 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 2017.
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
3\1/4\........................ July 1, 2014....... Jan. 1, 2015
3............................. Jan. 1, 2015....... July 1, 2015
2\7/8\........................ July 1, 2015....... Jan. 1, 2016
2\7/8\........................ Jan. 1, 2016....... July 1, 2016
2\1/2\........................ July 1, 2016....... Jan. 1, 2017
2\3/4\........................ Jan. 1, 2017....... July 1, 2017
2\7/8\........................ July 1, 2017....... Jan. 1, 2018
------------------------------------------------------------------------
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 borne by debentures issued pursuant to Section 221(g)(4) during
the 6-month period beginning July 1, 2017, is 2\1/4\ 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 14, 2017.
Dana T. Wade,
General Deputy Assistant Secretary for Housing.
[FR Doc. 2017-15668 Filed 7-25-17; 8:45 am]
BILLING CODE 4210-67-P
