Agency Information Collection Activities; Submission for OMB Review; Comment Request; Emergency Capital Investment Program Initial Supplemental Report and Quarterly Supplemental Report, 18223-18224 [2023-06214]
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Federal Register / Vol. 88, No. 58 / Monday, March 27, 2023 / Notices
resolution of issues in dispute when
contractors file protests.
Form: None.
Affected Public: Businesses or other
for-profits.
Estimated Number of Respondents: 5.
Frequency of Response: On occasion.
Estimated Total Number of Annual
Responses: 5.
Estimated Time per Response: 2
hours.
Estimated Total Annual Burden
Hours: 10.
Request for Comments: Comments
submitted in response to this notice will
be summarized and included in the
request for Office of Management and
Budget approval. All comments will
become a matter of public record.
Comments are invited on: (a) whether
the collection of information is
necessary for the proper performance of
the functions of the agency, including
whether the information shall have
practical utility; (b) the accuracy of the
agency’s estimate of the burden of the
collection of information; (c) ways to
enhance the quality, utility, and clarity
of the information to be collected; (d)
ways to minimize the burden of the
collection of information on
respondents, including through the use
of technology; and (e) estimates of
capital or start-up costs and costs of
operation, maintenance, and purchase
of services required to provide
information.
Authority: 44 U.S.C. 3501 et seq.
Spencer W. Clark,
Treasury PRA Clearance Officer.
[FR Doc. 2023–06272 Filed 3–24–23; 8:45 am]
BILLING CODE 4810–AK–P
DEPARTMENT OF THE TREASURY
Agency Information Collection
Activities; Submission for OMB
Review; Comment Request;
Emergency Capital Investment
Program Initial Supplemental Report
and Quarterly Supplemental Report
Departmental Offices, U.S.
Department of the Treasury.
ACTION: Notice of Information
Collection; request for comment.
AGENCY:
The Department of the
Treasury will submit the following
information collection request to the
Office of Management and Budget
(OMB) for review and clearance in
accordance with the Paperwork
Reduction Act of 1995, on or after the
date of publication of this notice. The
public is invited to submit comments on
this request.
ddrumheller on DSK120RN23PROD with NOTICES1
SUMMARY:
VerDate Sep<11>2014
19:19 Mar 24, 2023
Jkt 259001
Comments should be received on
or before April 26, 2023 to be assured
of consideration.
ADDRESSES: Written comments and
recommendations for the proposed
information collection should be sent
within 30 days of publication of this
notice to www.reginfo.gov/public/do/
PRAMain. Find this particular
information collection by selecting
‘‘Currently under 30-day Review—Open
for Public Comments’’ or by using the
search function.
FOR FURTHER INFORMATION CONTACT:
Copies of the documents under review
may be viewed at https://
home.treasury.gov/policy-issues/
coronavirus/assistance-for-smallbusinesses/emergency-capitalinvestment-program. For questions
related to this program, please contact
David Meyer by emailing ecip@
treasury.gov or calling (202) 819–3127.
SUPPLEMENTARY INFORMATION:
Title: Emergency Capital Investment
Program Initial Supplemental Report
and Quarterly Supplemental Report.
OMB Control Number: 1505–0275.
Type of Review: Revision of a
currently approved collection.
Description: Authorized by the
Consolidated Appropriations Act, 2021,
the Emergency Capital Investment
Program (ECIP) was created to
encourage low- and moderate-income
community financial institutions to
augment their efforts to support small
businesses and consumers in their
communities.
Under the program, Treasury will
provide approximately $8.70 billion in
capital directly to depository
institutions that are certified
Community Development Financial
Institutions (CDFIs) or minority
depository institutions (MDIs) to, among
other things, provide loans, grants, and
forbearance for small businesses,
minority-owned businesses, and
consumers, especially in low-income
and underserved communities, that may
be disproportionately impacted by the
economic effects of the COVID–19
pandemic.
ECIP capital is eligible for a reduction
in the dividend or interest rate payable
on the instruments depending on the
increase in lending by the recipients of
the capital (Recipients) within minority,
rural, and urban low-income and
underserved communities and to lowand moderate-income borrowers over a
baseline amount of lending. Recipients
are required to submit an Initial
Supplemental Report and quarterly
reports to determine their increase in
lending to the specified targeted
communities over the baseline and
DATES:
PO 00000
Frm 00114
Fmt 4703
Sfmt 4703
18223
therefore their qualification for rate
reductions on the dividend or interest
rates payable on the ECIP instruments.
In addition, these reports will collect
data necessary for Treasury and other
oversight bodies to evaluate program
outcomes over time. Treasury uses the
Initial Supplemental Report to establish
a baseline amount of qualified lending.
Treasury proposes to continue use of
this form to collect additional or
restated data on a Recipient’s amount of
baseline lending, such as in connection
with mergers, acquisitions, or other
business combinations. Instructions
may be modified from time to time to
accommodate these uses.
Treasury proposes to use the
Quarterly Supplemental Report to
collect the information required to
establish a Recipient’s increase in
lending. The Quarterly Supplemental
Report has two components: (1)
schedules which must be completed
each quarter that collect data on activity
for the preceding quarter and (2)
schedules that collect data on the
preceding calendar year of activity that
are submitted annually. There are
separate schedules and instructions for
insured depository institutions, bank
holding companies, and savings and
loan holding companies; and credit
unions.
Quarterly Report Schedules:
Recipients of ECIP investments will be
required to submit two schedules on a
quarterly basis. Schedule A-Summary
Qualified Lending is used to collect the
Qualified Lending and Deep Impact
Lending, as defined in the Glossary in
the Instructions to the Quarterly
Supplemental Report, of a Recipient for
a given quarter. Schedule A is therefore
used to establish the growth in a
Recipient’s Qualified Lending over its
baseline Qualified Lending for the
purposes of calculating the payment rate
on the ECIP preferred shares or
subordinated debt issued by the
Recipient. Schedule B-Disaggregated
Qualified Lending is used to present
further detail on the composition of the
Participant’s Qualified and Deep Impact
Lending.
Annual Report Schedules: Annually,
Recipients will report on up to ten (10)
additional schedules, depending on the
origination activity that took place
during the prior year. Schedule CAdditional Demographic Data on
Qualified Lending collects additional
demographic data on certain categories
of Qualified Lending and Deep Impact
Lending. Schedule D-Additional Placebased Data on Qualified Lending
collects additional geographic data on
certain categories of Qualified Lending
and Deep Impact Lending.
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18224
Federal Register / Vol. 88, No. 58 / Monday, March 27, 2023 / Notices
ddrumheller on DSK120RN23PROD with NOTICES1
Legal Certifications: Annually, under
the terms of the ECIP investments,
Recipient institutions must provide
certain certifications. Treasury has
prepared the form of these certifications
for use on an annual basis by
Recipients.
Impact Highlight Report: Treasury
proposes to collect impact highlight
reports, submitted to Treasury on a
voluntary basis. The proposed form is
intended to facilitate such voluntary
reporting and categorization by
Treasury.
Forms: Initial Supplemental Report
and Instructions, Quarterly
Supplemental Report Instructions and
Schedules, Legal Certifications, and
Impact Highlight Report.
VerDate Sep<11>2014
19:19 Mar 24, 2023
Jkt 259001
Affected Public: Recipients of
investments through the Emergency
Capital Investment Program.
Estimated Number of Respondents:
180.
Frequency of Response: Initial
Supplemental Report—One time
annually, for applicable institutions;
Quarterly Supplemental Report—Four
times annually for Schedules A and B,
annually for Schedules C and D; One
time annually for the Legal
Certifications; and when volunteered for
the Emergency Capital Investment
Program Impact Highlight Report.
Estimated Total Number of Annual
Responses: Initial Supplemental
Report—5 for initial investments, 3 for
cases of mergers and acquisition;
Quarterly Supplemental Report—720 for
Schedules A & B and 180 for Schedule
PO 00000
Frm 00115
Fmt 4703
Sfmt 9990
C and D; Legal Certifications—180;
Emergency Capital Investment Program
Impact Highlight Report—5.
Estimated Time per Response: 160
hours annually for the Initial
Supplemental Report; 10 hours annually
for the Quarterly Supplemental Report
Schedules A & B + 120 hours for
Schedules C & D; 0.5 hours for the Legal
Certifications; and 0.5 hours for the
Emergency Capital Investment Program
Impact Highlight Report.
Estimated Total Annual Burden
Hours: 30,672.5.
Authority: 44 U.S.C. 3501 et seq.
Melody Braswell,
Treasury PRA Clearance Officer.
[FR Doc. 2023–06214 Filed 3–24–23; 8:45 am]
BILLING CODE 4810–AK–P
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]]>Agencies
[Federal Register Volume 88, Number 58 (Monday, March 27, 2023)]
[Notices]
[Pages 18223-18224]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-06214]
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DEPARTMENT OF THE TREASURY
Agency Information Collection Activities; Submission for OMB
Review; Comment Request; Emergency Capital Investment Program Initial
Supplemental Report and Quarterly Supplemental Report
AGENCY: Departmental Offices, U.S. Department of the Treasury.
ACTION: Notice of Information Collection; request for comment.
-----------------------------------------------------------------------
SUMMARY: The Department of the Treasury will submit the following
information collection request to the Office of Management and Budget
(OMB) for review and clearance in accordance with the Paperwork
Reduction Act of 1995, on or after the date of publication of this
notice. The public is invited to submit comments on this request.
DATES: Comments should be received on or before April 26, 2023 to be
assured of consideration.
ADDRESSES: Written comments and recommendations for the proposed
information collection should be sent within 30 days of publication of
this notice to www.reginfo.gov/public/do/PRAMain. Find this particular
information collection by selecting ``Currently under 30-day Review--
Open for Public Comments'' or by using the search function.
FOR FURTHER INFORMATION CONTACT: Copies of the documents under review
may be viewed at https://home.treasury.gov/policy-issues/coronavirus/assistance-for-small-businesses/emergency-capital-investment-program.
For questions related to this program, please contact David Meyer by
emailing [email protected] or calling (202) 819-3127.
SUPPLEMENTARY INFORMATION:
Title: Emergency Capital Investment Program Initial Supplemental
Report and Quarterly Supplemental Report.
OMB Control Number: 1505-0275.
Type of Review: Revision of a currently approved collection.
Description: Authorized by the Consolidated Appropriations Act,
2021, the Emergency Capital Investment Program (ECIP) was created to
encourage low- and moderate-income community financial institutions to
augment their efforts to support small businesses and consumers in
their communities.
Under the program, Treasury will provide approximately $8.70
billion in capital directly to depository institutions that are
certified Community Development Financial Institutions (CDFIs) or
minority depository institutions (MDIs) to, among other things, provide
loans, grants, and forbearance for small businesses, minority-owned
businesses, and consumers, especially in low-income and underserved
communities, that may be disproportionately impacted by the economic
effects of the COVID-19 pandemic.
ECIP capital is eligible for a reduction in the dividend or
interest rate payable on the instruments depending on the increase in
lending by the recipients of the capital (Recipients) within minority,
rural, and urban low-income and underserved communities and to low- and
moderate-income borrowers over a baseline amount of lending. Recipients
are required to submit an Initial Supplemental Report and quarterly
reports to determine their increase in lending to the specified
targeted communities over the baseline and therefore their
qualification for rate reductions on the dividend or interest rates
payable on the ECIP instruments. In addition, these reports will
collect data necessary for Treasury and other oversight bodies to
evaluate program outcomes over time. Treasury uses the Initial
Supplemental Report to establish a baseline amount of qualified
lending. Treasury proposes to continue use of this form to collect
additional or restated data on a Recipient's amount of baseline
lending, such as in connection with mergers, acquisitions, or other
business combinations. Instructions may be modified from time to time
to accommodate these uses.
Treasury proposes to use the Quarterly Supplemental Report to
collect the information required to establish a Recipient's increase in
lending. The Quarterly Supplemental Report has two components: (1)
schedules which must be completed each quarter that collect data on
activity for the preceding quarter and (2) schedules that collect data
on the preceding calendar year of activity that are submitted annually.
There are separate schedules and instructions for insured depository
institutions, bank holding companies, and savings and loan holding
companies; and credit unions.
Quarterly Report Schedules: Recipients of ECIP investments will be
required to submit two schedules on a quarterly basis. Schedule A-
Summary Qualified Lending is used to collect the Qualified Lending and
Deep Impact Lending, as defined in the Glossary in the Instructions to
the Quarterly Supplemental Report, of a Recipient for a given quarter.
Schedule A is therefore used to establish the growth in a Recipient's
Qualified Lending over its baseline Qualified Lending for the purposes
of calculating the payment rate on the ECIP preferred shares or
subordinated debt issued by the Recipient. Schedule B-Disaggregated
Qualified Lending is used to present further detail on the composition
of the Participant's Qualified and Deep Impact Lending.
Annual Report Schedules: Annually, Recipients will report on up to
ten (10) additional schedules, depending on the origination activity
that took place during the prior year. Schedule C-Additional
Demographic Data on Qualified Lending collects additional demographic
data on certain categories of Qualified Lending and Deep Impact
Lending. Schedule D-Additional Place-based Data on Qualified Lending
collects additional geographic data on certain categories of Qualified
Lending and Deep Impact Lending.
[[Page 18224]]
Legal Certifications: Annually, under the terms of the ECIP
investments, Recipient institutions must provide certain
certifications. Treasury has prepared the form of these certifications
for use on an annual basis by Recipients.
Impact Highlight Report: Treasury proposes to collect impact
highlight reports, submitted to Treasury on a voluntary basis. The
proposed form is intended to facilitate such voluntary reporting and
categorization by Treasury.
Forms: Initial Supplemental Report and Instructions, Quarterly
Supplemental Report Instructions and Schedules, Legal Certifications,
and Impact Highlight Report.
Affected Public: Recipients of investments through the Emergency
Capital Investment Program.
Estimated Number of Respondents: 180.
Frequency of Response: Initial Supplemental Report--One time
annually, for applicable institutions; Quarterly Supplemental Report--
Four times annually for Schedules A and B, annually for Schedules C and
D; One time annually for the Legal Certifications; and when volunteered
for the Emergency Capital Investment Program Impact Highlight Report.
Estimated Total Number of Annual Responses: Initial Supplemental
Report--5 for initial investments, 3 for cases of mergers and
acquisition; Quarterly Supplemental Report--720 for Schedules A & B and
180 for Schedule C and D; Legal Certifications--180; Emergency Capital
Investment Program Impact Highlight Report--5.
Estimated Time per Response: 160 hours annually for the Initial
Supplemental Report; 10 hours annually for the Quarterly Supplemental
Report Schedules A & B + 120 hours for Schedules C & D; 0.5 hours for
the Legal Certifications; and 0.5 hours for the Emergency Capital
Investment Program Impact Highlight Report.
Estimated Total Annual Burden Hours: 30,672.5.
Authority: 44 U.S.C. 3501 et seq.
Melody Braswell,
Treasury PRA Clearance Officer.
[FR Doc. 2023-06214 Filed 3-24-23; 8:45 am]
BILLING CODE 4810-AK-P
