Department of Treasury April 13, 2020 – Federal Register Recent Federal Regulation Documents
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Regulatory Capital Rule: Paycheck Protection Program Lending Facility and Paycheck Protection Program Loans
To provide liquidity to small business lenders and the broader credit markets, to help stabilize the financial system, and to provide economic relief to small businesses nationwide, the Board of Governors of the Federal Reserve System (Board) authorized each of the Federal Reserve Banks to participate in the Paycheck Protection Program Lending Facility (PPPL Facility), pursuant to section 13(3) of the Federal Reserve Act. Under the PPPL Facility, each of the Federal Reserve Banks will extend non-recourse loans to eligible financial institutions to fund loans guaranteed by the Small Business Administration under the Paycheck Protection Program established by the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). To facilitate use of this Federal Reserve facility, the Office of the Comptroller of the Currency, the Board, and the Federal Deposit Insurance Corporation (together, the agencies) are adopting this interim final rule to allow banking organizations to neutralize the regulatory capital effects of participating in the facility. This treatment is similar to the treatment extended previously by the agencies in connection with the Federal Reserve's Money Market Mutual Fund Liquidity Facility. In addition, as mandated by section 1102 of the CARES Act, loans originated under the Small Business Administration's Paycheck Protection Program will receive a zero percent risk weight under the agencies' regulatory capital rule.
Change To Notice of Funds Availability (NOFA) Inviting Applications for Financial Assistance (FA) Awards or Technical Assistance (TA) Awards Under the Native American CDFI Assistance (NACA Program) Fiscal Year (FY) 2020 Funding Round
On February 21, 2020, the Community Development Financial Institutions Fund (CDFI Fund) published a Notice of Funds Availability (NOFA) for Financial Assistance (FA) awards or Technical Assistance (TA) awards under the Native American CDFI Assistance (NACA Program) Fiscal Year 2020 Funding Round in the Federal Register (85 FR 10240, February 21, 2020) announcing the availability of approximately $15.5 million in Financial Assistance (FA) and Technical Assistance (TA) awards, under the Consolidated Appropriations Act, 2020 (Pub. L. 116-93). The CDFI Fund is issuing this notice to amend three NOFA deadlines. The deadline to submit a NACA Program Application for Financial Assistance (FA) award or Technical Assistance (TA) award is amended from 11:59 p.m. ET on April 21, 2020, to 11:59 p.m. ET on April 30, 2020. The deadline to contact NACA Program staff is amended from 5:00 p.m. ET on April 17, 2020, to 5:00 p.m. ET on April 28, 2020. The deadline to contact AMIS- IT Help Desk staff is amended from 5:00 p.m. ET on April 21, 2020, to 5:00 p.m. ET on April 30, 2020. All other deadlines set forth in the Notice of Funds Availability shall remain in accordance with the NOFA published on February 21, 2020. Capitalized terms used in this NOFA are defined in the Riegle Community Development and Regulatory Improvement Act (Pub. L. 103-325, 12 U.S.C. 4701 et seq.), the Regulations (12 CFR parts 1805 and 1815), this NOFA, the Application, Application Materials, or the Uniform Requirements (2 CFR part 1000). All other information and requirements set forth in the NOFA published on February 21, 2020, shall remain effective, as published.
Change to Notice of Funds Availability (NOFA) Inviting Applications for Financial Assistance (FA) Awards or Technical Assistance (TA) Awards Under the Community Development Financial Institutions Program (CDFI Program) Fiscal Year (FY) 2020 Funding Round
On February 21, 2020, the Community Development Financial Institutions Fund (CDFI Fund) published a Notice of Funds Availability (NOFA) for Financial Assistance (FA) awards or Technical Assistance (TA) awards under the Community Development Financial Institutions Program Fiscal Year 2020 Funding Round in the Federal Register (85 FR 10219, February 21, 2020) announcing the availability of approximately $184 million in Financial Assistance (FA) and Technical Assistance (TA) awards, under the Consolidated Appropriations Act, 2020 (Pub. L. 116-93). The CDFI Fund is issuing this notice to amend three NOFA deadlines. The deadline to submit a CDFI Program Application for Financial Assistance (FA) award or Technical Assistance (TA) award is amended from 11:59 p.m. ET on April 21, 2020, to 11:59 p.m. ET on April 30, 2020. The deadline to contact CDFI Program staff is amended from 5:00 p.m. ET on April 17, 2020, to 5:00 p.m. ET on April 28, 2020. The deadline to contact AMIS-IT Help Desk staff is amended from 5:00 p.m. ET on April 21, 2020, to 5:00 p.m. ET on April 30, 2020. All other deadlines set forth in the Notice of Funds Availability shall remain in accordance with the NOFA published on February 21, 2020. Capitalized terms used in this NOFA are defined in the Authorizing Statute (Pub. L. 103-325, 12 U.S.C. 4701 et seq.), the Regulations (12 CFR parts 1805 and 1815), this NOFA, the Application, Application Materials, or the Uniform Requirements (2 CFR part 1000). All other information and requirements set forth in the NOFA published on February 21, 2020, shall remain effective, as published.
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