Mortgage and Loan Insurance Programs Under the National Housing Act-Debenture Interest Rates, 20905-20906 [2019-09828]

Download as PDF 20905 Federal Register / Vol. 84, No. 92 / Monday, May 13, 2019 / Notices www.cbp.gov/about/labs-scientific/ commercial-gaugers-and-laboratories. Dated: May 3, 2019. Patricia Hawes Coleman, Acting Executive Director, Laboratories and Scientific Services Directorate. [FR Doc. 2019–09834 Filed 5–10–19; 8:45 am] BILLING CODE 9111–14–P DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT [Docket No. FR–6166–N–01] 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 January 1, 2019, is 31⁄8 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, 2019, is 33⁄8 percent. FOR FURTHER INFORMATION CONTACT: Elizabeth Olazabal, Department of Housing and Urban Development, 451 Seventh Street SW, Room 5146, Washington, DC 20410–8000; telephone (202) 402–4608 (this is not a toll-free number). Individuals with speech or hearing impairments may access this number through TTY by calling the tollfree 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 jbell on DSK3GLQ082PROD with NOTICES SUMMARY: VerDate Sep<11>2014 16:29 May 10, 2019 Jkt 247001 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, 2019, is 33⁄8 percent; and (2) has approved the establishment of the debenture interest rate by the Secretary of HUD at 33⁄8 percent for the 6-month period beginning January 1, 2019. 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 2019. For convenience of reference, HUD is publishing the following chart of debenture interest rates applicable to mortgages committed or endorsed since January 1, 1980: Effective interest rate 91⁄2 ................ 97⁄8 ................ 113⁄4 .............. 127⁄8 .............. 123⁄4 .............. 101⁄4 .............. 103⁄8 .............. 111⁄2 .............. 133⁄8 .............. 115⁄8 .............. 111⁄8 .............. 101⁄4 .............. 81⁄4 ................ 8 ................... 9 ................... 91⁄8 ................ 93⁄8 ................ 91⁄4 ................ 9 ................... 81⁄8 ................ 9 ................... 83⁄4 ................ 81⁄2 ................ 8 ................... 8 ................... PO 00000 Frm 00060 on or after Jan. 1, 1980 July 1, 1980 Jan. 1, 1981 July 1, 1981 Jan. 1, 1982 Jan. 1, 1983 July 1, 1983 Jan. 1, 1984 July 1, 1984 Jan. 1, 1985 July 1, 1985 Jan. 1, 1986 July 1, 1986 Jan. 1, 1987 July 1, 1987 Jan. 1, 1988 July 1, 1988 Jan. 1, 1989 July 1, 1989 Jan. 1, 1990 July 1, 1990 Jan. 1, 1991 July 1, 1991 Jan. 1, 1992 July 1, 1992 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. Sfmt 4703 Effective interest rate 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 ................ 23⁄4 ................ 31⁄8 ................ 33⁄8 ................ on or after 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 July 1, 2018 Jan. 1, 2019 prior to 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. July 1, 2018. Jan. 1, 2019. July 1, 2019. 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 E:\FR\FM\13MYN1.SGM 13MYN1 20906 Federal Register / Vol. 84, No. 92 / Monday, May 13, 2019 / Notices 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 January 1, 2019, is 31⁄8 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: May 6, 2019. Brian D. Montgomery, Assistant Secretary for Housing—Federal Housing Commissioner. [FR Doc. 2019–09828 Filed 5–10–19; 8:45 am] BILLING CODE 4210–67–P DEPARTMENT OF THE INTERIOR Fish and Wildlife Service [FWS–R4–ES–2019–0047; FXES11130400000EA–123–FF04EF1000] Receipt of Incidental Take Permit Application and Proposed Habitat Conservation Plan for the Scrub-Jay and Eastern Indigo Snake, Volusia County, FL; Categorical Exclusion Fish and Wildlife Service, Interior. ACTION: Notice of availability; request for comments and information. jbell on DSK3GLQ082PROD with NOTICES AGENCY: We, the Fish and Wildlife Service (Service), announce receipt of an application from Duke Energy SUMMARY: VerDate Sep<11>2014 16:29 May 10, 2019 Jkt 247001 Florida, LLC (applicant) for an incidental take permit (ITP) under the Endangered Species Act. The applicant requests the ITP to take the federally listed scrub-jay and eastern indigo snake incidental to construction in Volusia County, Florida. We request public comment on the application, which includes the applicant’s proposed habitat conservation plan (HCP) and the Service’s preliminary determination that this HCP qualifies as ‘‘low-effect,’’ categorically excluded, under the National Environmental Policy Act. To make this determination, we used our environmental action statement and low-effect screening form, both of which are also available for review. DATES: We must receive your written comments on or before June 12, 2019. ADDRESSES: Obtaining Documents: You may obtain copies of the documents online in Docket No. FWS–R4–ES–2019–0047 at https://www.regulations.gov. Submitting Comments: If you wish to submit comments on any of the documents, you may do so in writing by any of the following methods: • Online: https://www.regulations.gov. Follow the instructions for submitting comments on Docket No. FWS–R4–ES– 2019–0047. • U.S. mail or hand-delivery: Public Comments Processing, Attn: Docket No. FWS–R4–ES–2019–0047, U.S. Fish and Wildlife Service, MS: BPHC, 5275 Leesburg Pike, Falls Church, VA 22041– 3803. FOR FURTHER INFORMATION CONTACT: Erin M. Gawera, by telephone at (904) 731– 3121 or via email at erin_gawera@ fws.gov. We, the Fish and Wildlife Service (Service), announce receipt of an application from Duke Energy Florida, LLC (applicant) for an incidental take permit (ITP) under the Endangered Species Act of 1973, as amended (ESA; 16 U.S.C. 1531 et seq.). The applicant requests the ITP to take the federally listed scrub-jay (Aphelocoma coerulescens) and eastern indigo snake (Drymarchon couperi) incidental to the construction of a solar power plant (project) in Volusia County, Florida. We request public comment on the application, which includes the applicant’s proposed habitat conservation plan (HCP) and the Service’s preliminary determination that this HCP qualifies as ‘‘low-effect,’’ categorically excluded, under the National Environmental Policy Act (NEPA; 42 U.S.C. 4321 et seq.). To make this determination, we used our environmental action statement and SUPPLEMENTARY INFORMATION: PO 00000 Frm 00061 Fmt 4703 Sfmt 4703 low-effect screening form, both of which are also available for public review. Project The applicant requests a 10-year ITP to take the scrub-jay and eastern indigo snake incidental to the conversion of approximately 13.45 acres of occupied scrub-jay and 307.1 acres of occupied snake foraging and sheltering habitat for the construction of a solar power plant located on a 916.2-acre parcel, Parcel ID numbers 802900000050, 802800000020, 802000000030, 802000000070, 802000000050, 802000000060, 802100000010, 802100000080, 802100000012, 802000000020, 802000000010, and 801600000032, in Sections 16, 17, 20, 21, 28, 29, 32, and 33, Township 18 South, Range 30 East, Volusia County, Florida. The applicant proposes to mitigate for take of the scrub-jay through the contribution of $412,296.30 to the Florida Scrub-jay Conservation Fund administered by The Nature Conservancy and to mitigate for take of the eastern indigo snake through a contribution of $50,000.00 to the Wildlife Foundation of Florida’s Eastern Indigo Snake Conservation Fund. Public Availability of Comments Before including your address, phone number, email address, or other personal identifying information in your comment, be aware that your entire comment—including your personal identifying information—may be made available to the public. While you may request that we withhold your personal identifying information from public review, we cannot guarantee that we will be able to do so. Our Preliminary Determination The Service has made a preliminary determination that the applicant’s project, including land clearing, infrastructure building, landscaping, and the proposed mitigation and minimization measures, would individually and cumulatively have a minor or negligible effect on the scrubjay, the eastern indigo snake, and the environment. Therefore, we have preliminarily concluded that the ITP for this project would qualify for categorical exclusion and the HCP is low effect under our NEPA regulations at 43 CFR 46.205 and 46. 210. A low-effect HCP is one that would result in (1) minor or negligible effects on federally listed, proposed, and candidate species and their habitats; (2) minor or negligible effects on other environmental values or resources; and (3) impacts that, when considered together with the impacts of other past, present, and reasonably foreseeable similarly situated projects, E:\FR\FM\13MYN1.SGM 13MYN1

Agencies

DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

[Federal Register Volume 84, Number 92 (Monday, May 13, 2019)]
[Notices]
[Pages 20905-20906]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-09828]


=======================================================================
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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

[Docket No. FR-6166-N-01]


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 
January 1, 2019, is 3\1/8\ 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, 2019, is 3\3/8\ 
percent.

FOR FURTHER INFORMATION CONTACT: Elizabeth Olazabal, Department of 
Housing and Urban Development, 451 Seventh Street SW, Room 5146, 
Washington, DC 20410-8000; telephone (202) 402-4608 (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, 2019, is 3\3/8\ percent; and 
(2) has approved the establishment of the debenture interest rate by 
the Secretary of HUD at 3\3/8\ percent for the 6-month period beginning 
January 1, 2019. 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 2019.
    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.
2\3/4\..........................  Jan. 1, 2018......  July 1, 2018.
3\1/8\..........................  July 1, 2018......  Jan. 1, 2019.
3\3/8\..........................  Jan. 1, 2019......  July 1, 2019.
------------------------------------------------------------------------

    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

[[Page 20906]]

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 January 1, 2019, is 3\1/8\ 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: May 6, 2019.
Brian D. Montgomery,
Assistant Secretary for Housing--Federal Housing Commissioner.
[FR Doc. 2019-09828 Filed 5-10-19; 8:45 am]
 BILLING CODE 4210-67-P

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