97-31452. Bank Enterprise Award Program  

  • [Federal Register Volume 62, Number 234 (Friday, December 5, 1997)]
    [Rules and Regulations]
    [Pages 64440-64447]
    From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
    [FR Doc No: 97-31452]
    
    
    
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    Part II
    
    
    
    
    
    Department of the Treasury
    
    
    
    
    
    _______________________________________________________________________
    
    
    
    Community Development Financial Institutions Fund
    
    
    
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    12 CFR Part 1806
    
    
    
    Bank Enterprise Award Program; Interim Rule
    
    
    
    Notice of Funds Availability (NOFA) Inviting Applications for the Bank 
    Enterprise Award (BEA) Program; Notice
    
    Federal Register / Vol. 62, No. 234 / Friday, December 5, 1997 / 
    Rules and Regulations
    
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    DEPARTMENT OF THE TREASURY
    
    Community Development Financial Institutions Fund
    
    12 CFR Part 1806
    
    RIN 1505-AA71
    
    
    Bank Enterprise Award Program
    
    AGENCY: Community Development Financial Institutions Fund, Department 
    of the Treasury.
    
    ACTION: Revised interim rule with request for comment.
    
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    SUMMARY: The Department of the Treasury is issuing a revised interim 
    rule implementing the Bank Enterprise Award (BEA) Program administered 
    by the Community Development Financial Institutions Fund (Fund). The 
    purpose of the BEA Program is to encourage insured depository 
    institutions to increase their level of activities in the form of 
    loans, investments, services, and technical assistance within 
    distressed communities and to provide financial assistance to Community 
    Development Financial Institutions (CDFIs) through grants, stock 
    purchases, loans, deposits, and other forms of financial and technical 
    assistance. The BEA Program rewards participating insured depository 
    institutions for increasing their activities in economically distressed 
    communities and investing in CDFIs. The revisions contain a number of 
    changes which clarify current requirements, but do not change them. 
    This rule also simplifies current requirements and updates various 
    references, and contains one revision that the Fund believes will 
    generally inure to the benefit of insured depository institutions. 
    Specifically, the revision clarifies the measured value of renewed 
    loans and rolled over time deposits to include the entire amount of the 
    renewed loans and rolled over deposits. However, in order to facilitate 
    implementation of the BEA program regulations by participating insured 
    depository institutions, the complete text of the regulations, as 
    amended, is published by this interim rule.
    
    DATES: Interim rule effective December 5, 1997; comments must be 
    received on or before April 6, 1998.
    
    ADDRESSES: All comments concerning this interim rule should be 
    addressed to the Director, Community Development Financial Institutions 
    Fund, Department of the Treasury, 601 13th Street, NW, Suite 200 South, 
    Washington, DC 20005. Comments may be inspected at the above address 
    between 9:30 a.m. and 4:30 p.m. on business days.
    
    FOR FURTHER INFORMATION CONTACT: Director, the Community Development 
    Financial Institutions Fund at (202) 622-8662. (This is not a toll free 
    number.)
    
    SUPPLEMENTARY INFORMATION:
    
    I. Background
    
        The Community Development Financial Institutions Fund (Fund) was 
    established as a wholly owned government corporation by the Community 
    Development Banking and Financial Institutions Act of 1994 (the Act). 
    Subsequent legislation placed the Fund within the Department of the 
    Treasury and gave the Secretary of the Treasury all powers and rights 
    of the Administrator of the Fund as set forth in the authorizing 
    statute. The Fund's programs are designed to facilitate the flow of 
    lending and investment capital into distressed communities and to 
    individuals who have been unable to take full advantage of the 
    financial services industry. This initiative is an important step in 
    rebuilding poverty-stricken and transitional communities and creating 
    economic opportunity for people often left behind by the economic 
    mainstream.
        Access to credit and investment capital is an essential ingredient 
    for creating and retaining jobs, revitalizing neighborhoods, developing 
    affordable housing, and unleashing the economic potential of small 
    businesses. The Fund recognizes the important role traditional 
    financial institutions have played, and should continue to play, in 
    serving the credit needs of distressed communities and their residents. 
    As a means of facilitating increased activity and innovation among 
    traditional financial institutions, these revised regulations amend the 
    Bank Enterprise Award (BEA) Program, which has its roots in the Federal 
    Deposit Insurance Corporation Improvement Act of 1991. The BEA Program 
    was significantly modified as part of the Act to enable it to function 
    as a companion to the Community Development Financial Institutions 
    (CDFI) Program. Together, the CDFI Program and BEA Program will promote 
    activity among the spectrum of financial institutions that serve 
    distressed communities.
        The purpose of the BEA Program is to encourage insured depository 
    institutions to increase loans, services, and technical assistance 
    within distressed communities and to make Equity Investments or engage 
    in CDFI Support Activities. The BEA Program rewards participating 
    insured depository institutions for increasing their activities in 
    economically distressed communities and investing in CDFIs. Applicants 
    participate in the Program through a competitive process which 
    evaluates applications based on the value of proposed increases in 
    their specified activities. Program participants receive monies only 
    after successful completion of the specified activities.
        Elsewhere in this issue of the Federal Register is a separate 
    Notice of Funds Availability (NOFA) for this Program. A final 
    regulation will be published after receipt and consideration of public 
    comments. The Fund previously promulgated an interim regulation with a 
    request for comment, which was published in the Federal Register on 
    March 7, 1997 (62 FR 10679). No comments were received in response to 
    the March 7, 1997 interim rule. Since these regulations were last 
    amended, the Fund has identified several provisions that need to be 
    updated, clarified, or simplified.
    
    II. Summary of Changes
    
    Authorities
    
        The current rule contains a list of authorities. This interim rule 
    updates the list by adding 12 U.S.C. 4713, 12 U.S.C. 1834a, and 31 
    U.S.C. 321. Such authorities concern the promulgation of regulations, 
    procedures and guidelines. The current rule lists 12 U.S.C. 4703 note 
    with a reference to Pub. L. 104-19. The Fund is deleting the reference 
    to this public law, for purposes of regulatory economy and because 
    there is more than one public law underlying the section 4703 note.
    
    Definition of Community Services
    
        Section 1806.103(p)(1) of the current rule defines the forms of 
    assistance that constitute Community Services. This interim rule does 
    not change the definition of what constitutes Community Services, but 
    it clarifies that all forms of such assistance may be provided by 
    officers, employees, or agents (contractual or otherwise) of the 
    Applicant. This revision conforms with the Fund's interpretation of the 
    current rule.
    
    Measuring the Value of Renewed Loans and Rolled Over Deposits
    
        Section 1806.202(c)(1) of the current rule provides that for 
    purposes of calculating BEA Program awards, the Fund will assess the 
    value of Equity Investments, loans, grants, and deposits at the 
    original amount of such investments, loans, grants or deposits. Section 
    1806.202(c)(1) of the current rule excludes the value of any loans 
    which are renewed, rolled over, or
    
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    refinanced in an amount equal to or less than the principal amount 
    outstanding at the time of refinancing. Because the Fund believes that 
    the interim rule in its current form: (1) Appears too restrictive with 
    regard to loans; and (2) is unclear with regard to renewed loans and 
    rolled over time deposits, the Fund is revising Sec. 1806.202(c)(1) as 
    follows.
        With regard to loans, the Fund believes that where a loan matures, 
    is fully paid, and is then renewed during an applicable Baseline or 
    Assessment period, the renewed loan constitutes a new origination. As 
    such, the Fund will assess the full principal amount of the renewed 
    loan in calculating a BEA Program award. However, the Fund is not 
    changing the current interim rule with regard to refinancings. 
    Specifically, where a loan is refinanced during an applicable Baseline 
    or Assessment period, the Fund will only assess the value of any 
    increase in the principal amount of the refinanced loan.
        With regard to deposits, the Fund will assess the full amount of 
    any deposit which is rolled over during an applicable Baseline or 
    Assessment period. For example, where an Applicant made a time deposit 
    with an insured CDFI, e.g. a five year certificate of deposit with an 
    interest rate materially below market rates, which matures and is 
    rolled over during an Assessment Period, the Fund will assess the full 
    amount of the rolled over time deposit in calculating a BEA Program 
    award.
    
    Estimated Award Amounts for Development and Service Activities
    
        The current rule at 12 CFR 1806.203(c)(3) describes a calculation 
    step for estimating an award amount for Development and Service 
    Activities. This step requires adding the weighted values of deposit 
    liabilities and Financial Services to yield a service score. This 
    revised rule corrects an omission to the step by adding Community 
    Services. This addition conforms with previous and the most current BEA 
    Program Application packets.
        For purposes of regulatory economy, the Fund is deleting the 
    parenthetical reference in Sec. 1806.203(c)(5) of the current rule, 
    which references the Act. This deletion is technical in scope and will 
    have no substantive effect on the implementation of the BEA Program.
    
    Application Contents for Equity Investment and CDFI Support Activities
    
        Section 1806.206(b)(9) of the current rule describes the collection 
    of information requirements set forth in the Application packet for 
    those Applicants proposing to engage in CDFI Related Activities. The 
    current rule describes the Application packet as requiring each 
    Applicant to submit a narrative description of each CDFI in which it 
    proposes to engage in CDFI Related Activities and a description of the 
    amount, terms, and conditions of the assistance to be provided or, 
    alternatively, a list of potential CDFIs and a description of the 
    Applicant's investment, lending, or selection criteria. However, the 
    most recently revised Application packet, which has been reviewed and 
    approved by the Office of Management and Budget (OMB) in accordance 
    with the Paperwork Reduction Act of 1995, simplifies the collection of 
    information from Applicants. Specifically, the revised Application 
    packet requires Applicants to list the potential CDFIs to which they 
    may provide assistance and provide a description of the amount, terms, 
    and conditions for such assistance. Because the revised Application 
    packet does not require a narrative description of each potential CDFI 
    or a description of the Applicant's investment, lending or selection 
    criteria, the Fund is revising Sec. 1806.206(b)(9) in this interim rule 
    to accurately reflect the collection of information requirements set 
    forth in the most current Application packet.
    
    III. Rulemaking Analysis
    
    Executive Order 12866
    
        It has been determined that this regulation is not a significant 
    regulatory action as defined in Executive Order 12866. Therefore, a 
    Regulatory Assessment is not required.
    
    Regulatory Flexibility Act
    
        Because no notice of proposed rulemaking is required for this 
    revised interim rule, the provisions of the Regulatory Flexibility Act 
    (5 U.S.C. 601 et seq.) do not apply.
    
    Paperwork Reduction Act
    
        The collections of information contained in this interim rule have 
    been previously reviewed and approved by OMB in accordance with the 
    Paperwork Reduction Act of 1995 and assigned OMB Control Number 1505-
    0153. An agency may not conduct or sponsor, and a person is not 
    required to respond to, a collection of information unless it displays 
    a valid control number assigned by OMB. This document restates the 
    collections of information without substantive change.
        Comments concerning suggestions for reducing the burden of the 
    collections of information should be directed to the Director, 
    Community Development Financial Institutions Fund, 601 13th Street, 
    NW., Suite 200 South, Washington, DC 20005.
    
    National Environmental Policy Act
    
        Pursuant to Treasury Directive 75-02 (Department of the Treasury 
    Environmental Quality Program), the Department has determined that 
    these revised interim regulations are categorically excluded from the 
    National Environmental Policy Act and do not require an environmental 
    review.
    
    Administrative Procedure Act
    
        The Fund is promulgating this revised interim rule without 
    opportunity for prior public comment pursuant to the Administrative 
    Procedure Act (APA), 5 U.S.C. 553, because the BEA Program involves 
    grants and is thereby exempt from the procedural requirements of the 
    APA pursuant to 5 U.S.C. 553(a)(2). The Fund also finds good cause for 
    dispensing with a notice of proposed rulemaking because such advance 
    notice and public procedure are unnecessary. First, most of the changes 
    in this interim rule are minor or technical amendments which do not 
    affect the substance of the regulation. Second, the changes to this 
    interim rule are narrow in scope, clarify existing requirements, and 
    inure to the benefit of the regulated community, namely insured 
    depository institutions, by making participation in the BEA Program 
    easier for Applicants, reducing regulatory burden, and clarifying the 
    measured value of renewed loans and rolled over time deposits.
        The Fund also is making this interim rule effective upon 
    publication without providing the 30-day period between publication and 
    effective date contemplated by the APA because, as noted above, the BEA 
    Program involves grants and is thereby exempt from the procedural 
    requirements of the APA found at 5 U.S.C. 553(d). The Fund also 
    believes that an immediate effective date is necessary for the 
    convenience of the persons affected. Specifically, an immediate 
    effective date will minimize the risk of confusion on the affected 
    community by ensuring that there will be a single and uniform 
    regulation in effect during the Assessment Period, which as stated in 
    the NOFA published elsewhere in this issue of the Federal Register, 
    will begin on January 1, 1998. The Fund also believes that an immediate 
    effective date is appropriate because this interim rule inures to the 
    benefit of the affected community by removing a potential restriction 
    on the measured value of renewed loans and rolled over time deposits.
    
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    Comment
    
        Public comment is solicited on all aspects of this interim 
    regulation. The Fund will consider all comments made on the substance 
    of this interim regulation, but does not intend to hold hearings.
    
    IV. Catalog of Federal Financial Assistance Numbers
    
        Bank Enterprise Award Program--21.021.
    
    List of Subjects in 12 CFR Part 1806
    
        Banks, banking, Community development, Grant programs--housing and 
    community development, Reporting and recordkeeping requirements, 
    Savings associations.
    
        For the reasons set forth in the preamble, 12 CFR part 1806 is 
    revised to read as follows:
    
    PART 1806--BANK ENTERPRISE AWARD PROGRAM
    
    Subpart A--General Provisions
    
    Sec.
    1806.100  Purpose.
    1806.101  Summary.
    1806.102  Relationship to the Community Development Financial 
    Institutions Program.
    1806.103  Definitions.
    1806.104  Waiver authority.
    1806.105  OMB control number.
    
    Subpart B--Awards
    
    1806.200  Community eligibility and designation.
    1806.201  Qualified Activities.
    1806.202  Measuring activities.
    1806.203  Estimated award amounts.
    1806.204  Selection process.
    1806.205  Actual award amounts.
    1806.206  Applications for Bank Enterprise Awards.
    
    Subpart C--Terms and Conditions of Assistance
    
    1806.300  Award Agreement; sanctions.
    1806.301  Records, reports and audits of Awardees.
    1806.302  Compliance with government requirements.
    1806.303  Fraud, waste and abuse.
    1806.304  Books of account, records and government access.
    1806.305 Retention of records.
    
        Authority: 12 U.S.C. 1834a, 4703, 4703 note, 4713, 4717; 31 
    U.S.C. 321.
    
    Subpart A--General Provisions
    
    
    Sec. 1806.100  Purpose.
    
        The purpose of the Bank Enterprise Award Program is to encourage 
    insured depository institutions to make Equity Investments and carry 
    out CDFI Support Activities and Development and Service Activities to 
    revitalize distressed urban and rural communities.
    
    
    Sec. 1806.101  Summary.
    
        (a) Under the Bank Enterprise Awards Program, the Fund makes awards 
    to selected Applicants that:
        (1) Invest in or otherwise support Community Development Financial 
    Institutions;
        (2) Increase lending and investment activities within Distressed 
    Communities; or
        (3) Increase the provision of certain services and assistance.
        (b) Distressed Communities must meet minimum poverty and 
    unemployment criteria. Applicants are selected to participate in the 
    program through a competitive application process. Awards are based on 
    increases in Qualified Activities that are carried out by the Applicant 
    during an Assessment Period. Bank Enterprise Awards are distributed 
    after successful completion of projected Qualified Activities. All 
    awards shall be made subject to the availability of funding.
    
    
    Sec. 1806.102  Relationship to the Community Development Financial 
    Institutions Program.
    
        (a) Prohibition against double funding. No CDFI may receive a Bank 
    Enterprise Award if it has:
        (1) An application pending for assistance under the Community 
    Development Financial Institutions Program (part 1805 of this chapter);
        (2) Received assistance from the Community Development Financial 
    Institutions Program within the preceding 12-month period; or
        (3) Ever received assistance under the Community Development 
    Financial Institutions Program for the same activities for which it is 
    seeking a Bank Enterprise Award.
        (b) Matching funds. Equity Investments and CDFI Support Activities 
    (except technical assistance) provided to a CDFI under this part can be 
    used by the CDFI to meet the matching funds requirements of the 
    Community Development Financial Institutions Program.
    
    
    Sec. 1806.103  Definitions.
    
        For the purpose of this part:
        (a) Act means the Community Development Banking and Financial 
    Institutions Act of 1994, as amended (12 U.S.C. 4701 et seq.);
        (b) Agricultural Loan means an origination of a loan secured by 
    farm land (including farm residential and other improvements), a loan 
    to finance agricultural production, or a loan to a farmer (other than a 
    Single Family Loan or Consumer Loan);
        (c) Applicant means any insured depository institution (as defined 
    in section 3(c)(2) of the Federal Deposit Insurance Act (12 U.S.C. 
    1813)) that is applying for a Bank Enterprise Award;
        (d) Appropriate Federal Banking Agency has the same meaning as in 
    section 3 of the Federal Deposit Insurance Act (12 U.S.C. 1813);
        (e) Assessment Period means an annual or semi-annual period 
    specified in the applicable Notice of Funds Availability (NOFA) in 
    which an Applicant will carry out Qualified Activities;
        (f) Award Agreement means a formal agreement between the Fund and 
    an Awardee pursuant to Sec. 1806.300;
        (g) Awardee means an Applicant selected by the Fund to receive a 
    Bank Enterprise Award;
        (h) Bank Enterprise Award means an award made to an Applicant 
    pursuant to this part;
        (i) Bank Enterprise Award Program means the program authorized by 
    section 114 of the Act and implemented under this part;
        (j) Baseline Period means an annual or semi-annual period specified 
    in the applicable NOFA in which an Applicant has previously carried out 
    Qualified Activities;
        (k) Business Loan means an origination of a loan used for 
    commercial or industrial activities (other than an Agricultural Loan, 
    Commercial Real Estate Loan, Multi-Family Loan or Single Family Loan);
        (l) Commercial Real Estate Loan means an origination of a loan 
    (other than a Multi-Family Loan or a Single Family Loan) used for 
    commercial purposes to finance construction and land development or an 
    origination of a loan that is secured by real estate and used to 
    finance the acquisition or rehabilitation of a building used for 
    commercial purposes;
        (m) Community Development Financial Institution (or CDFI) means an 
    entity whose certification as a CDFI under Sec. 1805.201 of this 
    chapter is in effect as of the end of the applicable Assessment Period 
    (the Assessment Period in which the Qualified Activity takes place) and 
    that meets the requirements of Sec. 1805.200(b) through (h) of this 
    chapter at the time of the Qualified Activity, subject to the rest of 
    this paragraph (m). If an Applicant is proposing to make an Equity 
    Investment or engage in CDFI Support Activities with an uncertified 
    CDFI, the uncertified CDFI may apply for certification by submitting 
    the information described in Sec. 1805.701(b) of this chapter. In order 
    for the Applicant to be eligible to receive an award for its activity, 
    the required information with respect to the
    
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    uncertified CDFI shall be submitted to the Fund as specified in the 
    applicable NOFA published in the Federal Register, and certification 
    must be completed by the end of the applicable Assessment Period as 
    specified in the applicable NOFA. Notwithstanding anything in this 
    paragraph (m) to the contrary, an Applicant may receive an award 
    pursuant to this part for assistance provided to an uncertified CDFI 
    that, at the time of the Qualified Activity, does not meet the 
    requirements of Sec. 1805.200(b) through (h) of this chapter if:
        (1) The Applicant requires the uncertified CDFI to refrain from 
    using the assistance provided until the entity is certified;
        (2) The uncertified CDFI is certified by the end of the applicable 
    Assessment Period; and
        (3) The Applicant retains the option of recapturing said assistance 
    in the event that the uncertified CDFI is not certified by the end of 
    the applicable Assessment Period;
        (n) CDFI Related Activities means Equity Investments and CDFI 
    Support Activities;
        (o) CDFI Support Activity means assistance provided by an Applicant 
    or its Subsidiary to a CDFI that is integrally involved in a Distressed 
    Community in the form of the origination of a loan, technical 
    assistance, or deposits if such deposits are:
        (1) Uninsured and committed for a term of at least three years; or
        (2) Insured, committed for a term of at least three years, and 
    provided at an interest rate that is materially (in the determination 
    of the Fund) below market rates;
        (p) Community Services means the following forms of assistance 
    provided by officers, employees or agents (contractual or otherwise) of 
    the Applicant:
        (1) Provision of technical assistance to Residents in managing 
    their personal finances through consumer education programs;
        (2) Provision of technical assistance and consulting services to 
    newly formed small businesses located in the Distressed Community;
        (3) Provision of technical assistance to, or servicing the loans 
    of, Low- or Moderate-Income homeowners and homeowners located in the 
    Distressed Community; and
        (4) Other services provided for Low- and Moderate-Income persons in 
    a Distressed Community or enterprises integrally involved in a 
    Distressed Community deemed appropriate by the Fund;
        (q) Consumer Loan means an origination of a loan to one or more 
    individuals for household, family, or other personal expenditures;
        (r) Distressed Community means a geographic community which meets 
    the minimum area eligibility requirements specified in Sec. 1806.200;
        (s) Development and Service Activities means activities described 
    in Sec. 1806.201(b)(4) that are carried out by the Applicant or its 
    Subsidiary;
        (t) Equity Investment means financial assistance provided by an 
    Applicant or its Subsidiary to a CDFI in the form of a grant, a stock 
    purchase, a purchase of a partnership interest, a purchase of a limited 
    liability company membership interest, a loan made on such terms that 
    it has characteristics of equity (and is considered as such by the Fund 
    and is consistent with requirements of the Applicant's Appropriate 
    Federal Banking Agency), or any other investment deemed to be an Equity 
    Investment by the Fund;
        (u) Financial Services means check-cashing, providing money orders 
    and certified checks, automated teller machines, safe deposit boxes, 
    and other comparable services as may be specified by the Fund that are 
    provided to Low- and Moderate-Income persons in the Distressed 
    Community or enterprises integrally involved with the Distressed 
    Community;
        (v) Fund means the Community Development Financial Institutions 
    Fund established under section 104(a) of the Act (12 U.S.C. 4703(a));
        (w) Geographic Units means counties (or equivalent areas), 
    incorporated places, minor civil divisions that are units of local 
    government, census tracts, block numbering areas, block groups, and 
    American Indian or Alaska Native areas (as each is defined by the U.S. 
    Bureau of the Census) or other areas deemed appropriate by the Fund;
        (x) Indian Reservation means a geographic area that meets the 
    requirements of section 4(10) of the Indian Child Welfare Act of 1978 
    (25 U.S.C. 1903(10)), and shall include land held by incorporated 
    Native groups, regional corporations, and village corporations, as 
    defined in and pursuant to the Alaska Native Claims Settlement Act (43 
    U.S.C. 1601 et seq.), public domain Indian allotments, and former 
    Indian Reservations in the State of Oklahoma;
        (y) Low- and Moderate-Income means income that does not exceed 80 
    percent of the median income of the area involved, as determined by the 
    Secretary of Housing and Urban Development with adjustments for smaller 
    and larger families pursuant to section 102(a)(20) of the Housing and 
    Community Development Act of 1974 (42 U.S.C. 5302(a)(20));
        (z) Metropolitan Area means an area designated as such (as of the 
    date of the application) by the Office of Management and Budget 
    pursuant to 44 U.S.C. 3504(d)(3), 31 U.S.C. 1104(d), and Executive 
    Order 10253 (3 CFR, 1949-1953 Comp., p. 758), as amended;
        (aa) Multi-Family Loan means an origination of a loan secured by a 
    five-or more family residential property;
        (bb) Project Investment means providing financial assistance in the 
    form of a purchase of stock, limited partnership interest, other 
    ownership instrument, or a grant to an entity that is integrally 
    involved with a Distressed Community and formed for the sole purpose of 
    engaging in a project or activity, approved by the Fund, related to 
    commercial real estate, single family housing, multi-family housing, 
    business or agriculture (as defined in this part);
        (cc) Qualified Activities means CDFI Related Activities and 
    Development and Service Activities;
        (dd) Resident means an individual domiciled in a Distressed 
    Community;
        (ee) Single Family Loan means an origination of a loan secured by a 
    one-to-four family residential property;
        (ff) Subsidiary has the same meaning as in section 3 of the Federal 
    Deposit Insurance Act, except that a CDFI shall not be considered a 
    subsidiary of any insured depository institution or any depository 
    institution holding company that controls less than 25 percent of any 
    class of the voting shares of such corporation and does not otherwise 
    control, in any manner, the election of a majority of directors of the 
    corporation; and
        (gg) Unit of General Local Government means any city, county town, 
    township, parish, village or other general purpose political 
    subdivision of a State or Commonwealth of the United States, or general 
    purpose subdivision thereof, and the District of Columbia.
    
    
    Sec. 1806.104  Waiver authority.
    
        The Fund may waive any requirement of this part that is not 
    required by law, upon a determination of good cause. Each such waiver 
    will be in writing and supported by a statement of the facts and 
    grounds forming the basis of the waiver. For a waiver in any individual 
    case, the Fund must determine that application of the requirement to be 
    waived would adversely affect the achievement of the purposes of the 
    Act. For waivers of general applicability, the Fund will publish 
    notification of granted waivers in the Federal Register.
    
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    Sec. 1806.105  OMB control number.
    
        The collection of information requirements in this part have been 
    approved by the Office of Management and Budget and assigned OMB 
    control number 1505-0153.
    
    Subpart B--Awards
    
    
    Sec. 1806.200  Community eligibility and designation.
    
        (a) General. If an Applicant proposes to carry out CDFI Support 
    Activities or Development and Service Activities, the Applicant shall 
    designate one or more Distressed Communities in which it proposes to 
    carry out those activities. If an Applicant proposes to carry out CDFI 
    Support Activities, the Applicant shall provide evidence that the CDFI 
    it is proposing to support is integrally involved with such a 
    Distressed Community. In the case of an Applicant proposing to make an 
    Equity Investment, the Fund reserves the right to request information 
    on Distressed Communities served by such a CDFI should such information 
    be deemed necessary by the Fund to complete the selection process 
    described in Sec. 1806.204. In the case of an Applicant that proposes 
    to carry out both CDFI Support Activities and Development and Service 
    Activities it may designate different Distressed Communities for these 
    two categories of activity.
        (b) Minimum area eligibility requirements. A Distressed Community 
    must meet the minimum area eligibility requirements contained in this 
    paragraph (b).
        (1) Geographic requirements. A Distressed Community must be a 
    geographic area:
        (i) That is located within the boundaries of a Unit of General 
    Local Government;
        (ii) The boundaries of which are contiguous; and
        (iii) (A) The population of which must be at least 4,000 if any 
    portion of the area is located within a Metropolitan Area with a 
    population of 50,000 or greater;
        (B) The population must be at least 1,000 if no portion of the area 
    is located within such a Metropolitan Area; or
        (C) The area is located entirely within an Indian Reservation.
        (2) Distress requirements. A Distressed Community must be a 
    geographic area where:
        (i) At least 30 percent of the Residents have incomes which are 
    less than the national poverty level, as published by the U.S. Bureau 
    of the Census in the 1990 decennial census; and
        (ii) The unemployment rate is at least 1.5 times greater than the 
    national average, as determined by the U.S. Bureau of Labor Statistics' 
    most recent data including estimates of unemployment developed using 
    the U.S. Bureau of Labor Statistics' Census Share calculation method. 
    U.S. Bureau of Labor Statistics data and information necessary for 
    Census Share calculations may be obtained from the Fund.
        (c) Area designation. An Applicant shall designate an area as a 
    Distressed Community by:
        (1) Selecting Geographic Units which individually meet the minimum 
    area eligibility requirements; or
        (2) Selecting two or more Geographic Units which, in the aggregate, 
    meet the minimum area eligibility requirements set forth in paragraph 
    (b) of this section provided that no Geographic Unit selected by the 
    Applicant within the area has a poverty rate of less than 20 percent.
        (d) Designation and notification process. Upon request, the Fund 
    will provide a prospective Applicant with data and other information to 
    help it identify areas eligible to be a Distressed Community. A 
    prospective Applicant is encouraged to contact the Fund prior to filing 
    an application to determine if an area meets the minimum area 
    eligibility requirements.
    
    
    Sec. 1806.201  Qualified Activities.
    
        (a) CDFI Related Activities. An Applicant may receive a Bank 
    Enterprise Award for making an Equity Investment or carrying out CDFI 
    Support Activities during an Assessment Period.
        (b) Development and Service Activities. (1) General. An Applicant 
    may receive a Bank Enterprise Award for carrying out Development and 
    Service Activities during an Assessment Period.
        (2) Area served. The Development and Service Activities listed in 
    paragraphs (b)(4)(i) through (x) of this section must serve a 
    Distressed Community. An activity is considered to serve a Distressed 
    Community if it is:
        (i) Undertaken in the Distressed Community; or
        (ii) Provided to Low- and Moderate-Income Residents or enterprises 
    integrally involved in the Distressed Community.
        (3) Priority factors. Each Development and Service Activity is 
    assigned a priority factor. A priority factor represents the Fund's 
    assessment of the degree of difficulty, the extent of innovation, and 
    the extent of benefits accruing to the Distressed Community for each 
    type of activity.
        (4) Development and Service Activities. Development and Service 
    Activities are listed in this paragraph with their corresponding 
    priority factors:
        (i) Deposit liabilities in the form of savings or other demand or 
    time accounts accepted from Residents at offices located within the 
    Distressed Community (priority factor = 1.0);
        (ii) Financial Services (priority factor = 1.2);
        (iii) Community Services (priority factor = 1.4);
        (iv) Consumer Loans (priority factor = 1.2);
        (v) Single Family Loans and related Project Investments (priority 
    factor = 1.4);
        (vi) Multi-Family Loans and related Project Investments (priority 
    factor = 1.6);
        (vii) Commercial Real Estate Loans and related Project Investments 
    (priority factor = 1.6);
        (viii) Business Loans, Agricultural Loans, and related Project 
    Investments of $100,000 or less (priority factor = 1.9);
        (ix) Business Loans, Agricultural Loans, and related Project 
    Investments of more than $100,000 through $250,000 (priority factor = 
    1.8); and
        (x) Business Loans and related Project Investments of more than 
    $250,000 through $1,000,000 and Agricultural Loans and related Project 
    Investments of more than $250,000 through $500,000 (priority factor = 
    1.7).
        (c) Limitation. Financial assistance provided by an Applicant for 
    which the Applicant receives benefits through the Low Income Housing 
    Tax Credit authorized pursuant to Section 42 of the Internal Revenue 
    Code of 1986, as amended (26 U.S.C. 42), shall not constitute an Equity 
    Investment, Project Investment, or other Qualified Activity, as defined 
    in this part, for the purposes of calculating or receiving an award.
    
    
    Sec. 1806.202  Measuring activities.
    
        (a) General. Qualified Activities shall be measured by comparing 
    the Qualified Activities carried out during the Baseline Period with 
    the Qualified Activities projected to be carried out during the 
    Assessment Period. Increases in the values of Qualified Activities 
    between the Baseline Period and Assessment Period will be used in 
    determining award amounts. If an Applicant is seeking assistance only 
    for CDFI Related Activities, it should only report its activities for 
    CDFI Related Activities categories. If an Applicant is seeking 
    assistance only for Development and Service Activities, it should only 
    report its activities for Development and Service Activities 
    categories. If an Applicant is seeking assistance for both
    
    [[Page 64445]]
    
    CDFI Related Activities and Development and Service Activities, it 
    should report its activities for both types of categories. If an 
    Applicant is unable to report its activities in the aforementioned 
    manner, the Applicant shall provide an explanation satisfactory to the 
    Fund as to why it cannot report required information and simultaneously 
    submit to the Fund a certification that during the Assessment Period 
    the Applicant did not reduce its total activity in any unreported 
    categories. The form and content of any certification shall be 
    determined by the Fund. The dates of the Baseline Period and Assessment 
    Period will be published in a NOFA for each funding round.
        (b) Exception. An Applicant may select not to report its deposit 
    liabilities as described in Sec. 1806.201(b)(4)(i). In such a case, an 
    Applicant's deposit liabilities will not be considered in calculating 
    the service score pursuant to Sec. 1806.203(c).
        (c) Value. The Fund will assess the value of:
        (1) Equity Investments, loans, grants and deposits described in 
    Sec. 1806.103 at the original amount of such investments, loans, grants 
    or deposits. Where a loan matures, is fully paid and is then renewed, 
    the Fund will assess the value of the principal amount of the renewed 
    loan. Where a deposit, such as a certificate of deposit, matures and is 
    then rolled over, the Fund will assess the value of the full amount of 
    the rolled over deposit. However, where an existing loan is refinanced, 
    the Fund will only assess the value of any increase in the principal 
    amount of the refinanced loan;
        (2) Deposit liabilities at the face dollar amount of monies 
    deposited as measured by comparing the net change in the amount of 
    applicable funds (as described in Sec. 1806.201(b)(4)(i)) on deposit at 
    the Applicant institution during the period described in this paragraph 
    (c)(2). An Applicant shall measure the net changes in deposit 
    liabilities during:
        (i) The Baseline Period, by comparing the amount of applicable 
    funds on deposit at the close of business the day before the beginning 
    of the Baseline Period and at the close of business on the last day of 
    the Baseline Period; and
        (ii) The Assessment Period, by comparing the amount of applicable 
    funds on deposit at the close of business the day before the beginning 
    of the Assessment Period and at the close of business on the last day 
    of the Assessment Period;
        (3) Financial Services, Community Services, and CDFI Support 
    Activities consisting of technical assistance based on the 
    administrative costs of providing such services; and
        (4) Project Investments at the original amount of the purchase of 
    stock, limited partnership interest, other ownership interest, or 
    grant.
        (d) Closed transactions. A transaction shall be considered to have 
    been carried out during the Baseline Period or the Assessment Period 
    if:
        (1) The documentation evidencing the transaction:
        (i) Is executed on a date within the applicable Baseline Period or 
    Assessment Period, respectively, as specified in the applicable NOFA; 
    and
        (ii) Constitutes a legally binding agreement between the Applicant 
    and a borrower or investee which specifies the final terms and 
    conditions of the transaction, except that any contingencies included 
    in the final agreement must be typical of such transaction and 
    acceptable (both in the judgment of the Fund); and
        (2) An initial disbursement of loan or investment proceeds has 
    occurred in a manner that is consistent with customary business 
    practices and is reasonable given the nature of the transaction, (both 
    as determined by the Fund).
        (e) Reporting. An Applicant shall report Qualified Activities on 
    the basis of transactions that were:
        (1) Completed during the Baseline Period; and
        (2) Are expected to be completed during the Assessment Period and 
    disbursed by the Applicant to a borrower or investee within the period 
    described in Sec. 1806.205(a).
    
    
    Sec. 1806.203  Estimated award amounts.
    
        Award amounts will be determined at the sole discretion of the Fund 
    and estimated as described in this section.
        (a) Equity Investments. The estimated award amount for an Equity 
    Investment will be equal to 15 percent (or such lower percentage as may 
    be requested by the Applicant) of the anticipated increase in the value 
    of such investment between the Baseline Period and Assessment Period.
        (b) CDFI Support Activities. If an Applicant is not a CDFI, the 
    estimated award amount for CDFI Support Activities will be equal to 11 
    percent of the anticipated increase in the dollar amount of such 
    support between the Baseline Period and Assessment Period. If Applicant 
    is a CDFI, the estimated award amount for CDFI Support Activities will 
    be equal to 33 percent of the anticipated increase in the dollar amount 
    of such support between the Baseline Period and Assessment Period.
        (c) Development and Service Activities. The estimated award amount 
    for Development and Service Activities will be calculated as follows:
        (1) Step 1. For each type of Development and Service Activity, 
    subtract the value in the Baseline Period from the estimated value for 
    the Assessment Period to yield a remainder;
        (2) Step 2. Multiply the remainder for each Development and Service 
    Activity by the assigned priority factor to yield a weighted value for 
    each activity;
        (3) Step 3. Add the weighted values for deposit liabilities, 
    Financial Services and Community Services to yield a service score;
        (4) Step 4. Add the weighted values for all other categories of 
    Development and Service Activities to yield a development score. If the 
    development score is negative, an Applicant will be ineligible to 
    receive a Bank Enterprise Award. If the development score is positive, 
    go to Step 5;
        (5) Step 5. If the service score is greater than the development 
    score, reduce the service score to equal the same amount as the 
    development score to yield an adjusted service score;
        (6) Step 6. Add the service score (or adjusted service score if 
    applicable) and the development score to yield a total score; and
        (7) Step 7. If the Applicant is:
        (i) A CDFI, multiply the total score by 15 percent to yield an 
    estimated award amount; or
        (ii) Not a CDFI, multiply the total score by 5 percent to yield an 
    estimated award amount.
    
    
    Sec. 1806.204  Selection process.
    
        (a) Availability of funds. All awards are subject to the 
    availability of funds. If the amount of funds available during a 
    funding round is sufficient for all estimated award amounts, an 
    Applicant that meets all of the program requirements specified in this 
    part shall receive an award that is calculated in the manner specified 
    in Sec. 1806.205. If the amount of funds available during a funding 
    round is insufficient for all estimated award amounts, Awardees will be 
    selected based on the process described in this section.
        (b) Priority of categories--(1) General. The Fund will rank an 
    Applicant's estimated award amount for Qualified Activities according 
    to the priority categories described in this paragraph (b). All 
    Applicants in the first priority category will be selected as Awardees 
    before Applicants in the second priority category. Selections within 
    each priority category will be based on the relative rankings within 
    each such category, subject to the availability of funds.
    
    [[Page 64446]]
    
        (2) First priority. (i) If the amount of funds available during a 
    funding round is insufficient for all estimated award amounts, first 
    priority will be given to Applicants that propose to engage in CDFI 
    Related Activities in the following order:
        (A) Equity Investments in CDFIs serving Distressed Communities;
        (B) Equity Investments in CDFIs not serving Distressed Communities; 
    and
        (C) CDFI Support Activities.
        (ii) Ranking Equity Investments. Estimated awards for Equity 
    Investments may be ranked within each applicable priority subcategory 
    based on the extent to which an Applicant proposes to reduce the 
    percentage used to calculate its award amount (e.g., an Applicant that 
    chooses to reduce its award to 13 percent will be ranked higher than an 
    Applicant that reduces its award to 14 percent). The Applicant, 
    however, may not reduce its award percentage below 12 percent. For 
    Applicants that propose the same percentage, estimated awards will be 
    ranked by the ratio of the proposed Equity Investment to the asset size 
    of the Applicant (as reported in the Applicant's most recent Report of 
    Condition or Thrift Financial Report) at the time of submission of an 
    application.
        (iii) Ranking CDFI Support Activities. Estimated awards for CDFI 
    Support Activities may be ranked based on the ratio of the proposed 
    CDFI Support Activity to the asset size of the Applicant (as reported 
    in the Applicant's most recent Report of Condition or Thrift Financial 
    Report) at the time of submission of an application.
        (3) Second priority. (i) If the amount of funds available during a 
    funding round is sufficient for all CDFI Related Activities but 
    insufficient for all estimated award amounts, second priority will go 
    to Applicants that propose to engage in Development and Service 
    Activities.
        (ii) Ranking Development and Service Activities. Estimated awards 
    for Development and Service Activities may be ranked by the ratio of 
    the total score to the asset size of the Applicant (as reported in the 
    Applicant's most recent Report of Condition or Thrift Financial Report) 
    at the time of the submission of an application. If the ratios of two 
    Applicants are the same, the estimated awards will be ranked based on 
    the degree of the poverty of each Applicant's Distressed Community.
        (4) Combined awards. If an Applicant receives an award for more 
    than one priority category described in this section, the award amounts 
    will be combined into a single Bank Enterprise Award.
    
    
    Sec. 1806.205  Actual award amounts.
    
        (a) General. The Fund will assess an Applicant's success in 
    achieving the Qualified Activities projected in its application. The 
    extent of such success will be measured based on the activities that 
    were actually carried out during the Assessment Period and expected to 
    be disbursed to an investee, borrower, or other recipient within three 
    years of the end of the applicable Assessment Period. The Fund reserves 
    the right to extend this period on a case-by-case basis where it has a 
    high degree of confidence that disbursement will occur and the activity 
    will promote the purposes of the Act. Subject to Sec. 1806.204 and any 
    recapture sanction for failure to perform pursuant to this part, the 
    actual award amount that an Awardee will receive will be equal to the 
    estimated award previously calculated and (if necessary) adjusted 
    pursuant to this section.
        (b) Achievement. If an Applicant carries out all or a portion of 
    its projected Qualified Activities and satisfies all program 
    requirements described in this part, its award amount will be 
    calculated on a pro-rata basis to reflect the increase in activities 
    actually carried out except that if:
        (1) The amount of funds available is insufficient for all estimated 
    award amounts; and
        (2) An Applicant carries out less than 75 percent of its projected 
    Qualified Activities, the Fund in its sole discretion, may limit the 
    amount or deny an award.
        (c) Unobligated or deobligated funds. The Fund, in its sole 
    discretion, may use any deobligated funds or funds not obligated during 
    a funding round:
        (1) Using the calculation and selection process contained in this 
    part:
        (i) To increase an award amount of an Awardee for achievement in 
    excess of the projected Qualified Activities; or
        (ii) To select Applicants not previously selected;
        (2) To make additional monies available for a subsequent funding 
    round; or
        (3) As otherwise authorized by the Act.
        (d) Limitation. The Fund, in its sole discretion, may deny or limit 
    the amount of an award for any reason, including if an Applicant 
    submits an application based on unrealistic Assessment Period 
    projections.
    
    
    Sec. 1806.206  Applications for Bank Enterprise Awards.
    
        (a) Notice of Funds Availability. An Applicant shall submit an 
    application for a Bank Enterprise Award in accordance with this section 
    and the applicable NOFA published by the Fund in the Federal Register. 
    The NOFA will advise potential Applicants with respect to obtaining an 
    application packet and will establish submission deadlines. The NOFA 
    also will establish any other requirements or restrictions applicable 
    for the funding round including any restrictions on award amounts. 
    After receipt of an application, the Fund may request clarifying or 
    technical information on materials submitted as part of such 
    application.
        (b) Application contents. Each application must contain the 
    information required in the application packet, which includes:
        (1) A copy of the Applicant's certificate of insurance issued by 
    the Federal Deposit Insurance Corporation and a copy of the Applicant's 
    incorporation, charter, organizing, formation, or otherwise 
    establishing documents to be used to establish eligibility for an 
    award;
        (2) A completed Bank Enterprise Award Rating and Calculations 
    worksheet. (If an Applicant intends to complete a merger with another 
    institution during the Assessment Period, it shall submit a separate 
    Baseline Period worksheet for each subject institution and one 
    Assessment Period worksheet that represents the projected activities of 
    the merged institutions. If such a merger is unexpectedly delayed 
    beyond the Assessment Period, the Fund reserves the right to withhold 
    distribution of an award until the merger has been completed.);
        (3) A narrative summary of each Qualified Activity expected to be 
    performed in the Assessment Period;
        (4) The asset size of the Applicant, as reported in its most recent 
    Report of Condition or Thrift Financial Report, to its Appropriate 
    Federal Banking Agency;
        (5) Information necessary for the Fund to complete its 
    environmental review requirements pursuant to part 1815 of this 
    chapter;
        (6) Certifications that the Applicant will comply with all relevant 
    provisions of this chapter and all applicable Federal, State, and local 
    laws, ordinances, regulations, policies, guidelines, and requirements;
        (7) A copy of the Applicant's most recent annual report;
        (8) In the case of an Applicant proposing to engage in Development
    
    [[Page 64447]]
    
    and Service Activities, a completed Distressed Community Designation 
    worksheet and a map and narrative description of the Distressed 
    Community;
        (9) In the case of an Applicant proposing to engage in CDFI Related 
    Activities:
        (i) Equity Investment. An Applicant shall submit a list of 
    potential CDFIs to which assistance may be provided, and a description 
    of the amount, terms and conditions of any Equity Investment that may 
    be provided.
        (ii) CDFI Support Activities. An Applicant shall submit:
        (A) A list of potential CDFIs to which assistance may be provided 
    and a description of the amount, terms and conditions of the assistance 
    that may be provided; and
        (B) Information that indicates that each CDFI to which an Applicant 
    proposes to provide CDFI Support Activities is integrally involved 
    within a Distressed Community, a completed Distressed Community 
    Designation worksheet, and a map and narrative description of the 
    Distressed Community.
    
    Subpart C--Terms and Conditions of Assistance
    
    
    Sec. 1806.300  Award Agreement; sanctions.
    
        (a) General. After the Fund selects an Awardee, the Fund and the 
    Awardee will enter into an Award Agreement. The Award Agreement shall 
    provide that an Awardee shall:
        (1) Carry out its Qualified Activities in accordance with 
    applicable law, the approved application, and all other applicable 
    requirements;
        (2) Comply with such other terms and conditions (including record 
    keeping and reporting requirements) that the Fund may establish; and
        (3) Not receive any monies until the Fund has determined that the 
    Awardee has fulfilled all applicable requirements.
        (b) Sanctions. In the event of any fraud, misrepresentation, or 
    noncompliance with the terms of the Award Agreement by the Awardee, the 
    Fund may terminate, reduce, or recapture the award and pursue any other 
    available legal remedies.
        (c) Notice. Prior to imposing any sanctions pursuant to this 
    section or an Award Agreement, the Fund will, to the maximum extent 
    practicable, provide the Awardee with written notice of the proposed 
    sanction and an opportunity to comment. Nothing in this section, 
    however, will provide an Awardee with the right to any formal or 
    informal hearing or comparable proceeding not otherwise required by 
    law.
    
    
    Sec. 1806.301  Records, reports and audits of Awardees.
    
        At the end of an Assessment Period, each Applicant shall submit to 
    the Fund:
        (a) Worksheet. A Bank Enterprise Award worksheet that reports the 
    Qualified Activities actually carried out during the Assessment Period;
        (b) Certification. A certification that the information provided to 
    the Fund is true and accurately reflects the Qualified Activities 
    carried out during an Assessment Period; and
        (c) Documentation. The Applicant shall make available the 
    following:
        (1) With respect to Equity Investments and CDFI Support Activities, 
    the Applicant shall submit documentation that meets the conditions 
    described in Sec. 1806.202(d);
        (2) With respect to Development and Services Activities where the 
    original amount of the value of the activity is $250,000 or greater, 
    the Applicant shall submit documentation that meets the conditions 
    described in Sec. 1806.202(d);
        (3) With respect to Development and Services Activities where the 
    original amount of the value of the activity is less than $250,000, the 
    Applicant shall submit a schedule that describes the original amount, 
    census tract served, and the dates of execution, initial disbursement, 
    and final disbursement of the instrument; and
        (4) Any other information reasonably requested by the Fund in order 
    to document or otherwise assess the validity of information provided by 
    the Applicant to the Fund.
    
    
    Sec. 1806.302  Compliance with government requirements.
    
        In carrying out its responsibilities pursuant to an Award 
    Agreement, the Awardee shall comply with all applicable Federal, State, 
    and local laws, regulations and ordinances, OMB Circulars, and 
    Executive Orders.
    
    
    Sec. 1806.303  Fraud, waste and abuse.
    
        Any person who becomes aware of the existence or apparent existence 
    of fraud, waste, or abuse of assistance provided under this part should 
    report such incidences to the Office of Inspector General of the U.S. 
    Department of the Treasury.
    
    
    Sec. 1806.304  Books of account, records and government access.
    
        An Awardee shall submit such financial and activity reports, 
    records, statements, and documents at such times, in such forms, and 
    accompanied by such supporting data, as required by the Fund and the 
    U.S. Department of the Treasury to ensure compliance with the 
    requirements of this part. The United States Government, including the 
    U.S. Department of the Treasury, the Comptroller General, and its duly 
    authorized representatives, shall have full and free access to the 
    Awardee's offices and facilities, and all books, documents, records, 
    and financial statements relevant to the award of the Federal funds and 
    may copy such documents as they deem appropriate.
    
    
    Sec. 1806.305  Retention of records.
    
        An Awardee shall comply with all record retention requirements as 
    set forth in OMB Circular A-110 (as applicable). This circular may be 
    obtained from Office of Administration, Publications Office, 725 17th 
    Street, NW., Room 2200, New Executive Office Building, Washington, DC 
    20503.
    
        Dated: November 25, 1997.
    Maurice A. Jones,
    Acting Deputy Director.
    [FR Doc. 97-31452 Filed 12-4-97; 8:45 am]
    BILLING CODE 4810-70-P
    
    
    

Document Information

Effective Date:
12/5/1997
Published:
12/05/1997
Department:
Community Development Financial Institutions Fund
Entry Type:
Rule
Action:
Revised interim rule with request for comment.
Document Number:
97-31452
Dates:
Interim rule effective December 5, 1997; comments must be received on or before April 6, 1998.
Pages:
64440-64447 (8 pages)
RINs:
1505-AA71: Community Development Financial Institutions Program; Bank Enterprise Award Program Regulations
RIN Links:
https://www.federalregister.gov/regulations/1505-AA71/community-development-financial-institutions-program-bank-enterprise-award-program-regulations
PDF File:
97-31452.pdf
CFR: (21)
12 CFR 1.8)
12 CFR 1.7)
12 CFR 1806.100
12 CFR 1806.101
12 CFR 1806.102
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