View Rule

View EO 12866 Meetings Printer-Friendly Version     Download RIN Data in XML
TREAS/CDFIF RIN: 1559-AA01 Publication ID: Fall 2013 
Title: Interim Rule for the CDFI Bond Guarantee Program  
Abstract: The CDFI Bond Guarantee Program was established through the Small Business Jobs Act of 2010, passed by Congress and signed into law by the President on September 27, 2010 (Pub. L. 111-240). Sections 1134 and 1703 of the Small Business Jobs Act provide authority to the Secretary of the Department of the Treasury to establish and administer the program. This program will be established and administered by the Community Development Financial Institutions Fund (CDFI Fund), an office within the U.S. Department of the Treasury. Section 114A authorizes the Secretary of the Treasury to guarantee the full amount of notes or bonds, including the principal, interest, and call premiums not to exceed 30 years, issued by CDFIs to finance loans for eligible community or economic development purposes. The bonds or notes will support CDFI lending and investment by providing a source of long-term, patient capital to CDFIs. In accordance with Federal credit policy, the Federal Financing Bank (FFB) will purchase the bonds or notes to be issued by CDFIs under the program. The interim rule creates the requirements and parameters for program implementation and administration including, among others, applicant eligibility, application requirements, application review, selection criteria, guarantee/loan agreements, eligible uses of bond proceeds, reporting obligations, and compliance monitoring. 
Agency: Department of the Treasury(TREAS)  Priority: Economically Significant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Final Rule Stage 
Major: Yes  Unfunded Mandates: No 
CFR Citation: 12 CFR 1808   
Legal Authority: PL 111-240   
Legal Deadline:
Action Source Description Date
Final  Statutory    09/27/2011 
Timetable:
Action Date FR Cite
Interim Final Rule  02/05/2013  78 FR 8296   
Interim Final Rule Comment Period End  04/08/2013 
Final Rule  06/00/2014 
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Small Entities Affected: No  Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Agency Contact:
Lisa Jones
BGP Program Manager
Department of the Treasury
Community Development Financial Institutions Fund
1801 L Street NW., Suite 600,
Washington, DC 20036
Phone:202 653-0323
Email: jonesl@cdfi.treas.gov