Modifications made to reduce length of report, streamline data requirements, and modify instructions.
table that charts list comparision
Inventory as of this Action
Requested
Previously Approved
08/31/2011
6 Months From Approved
08/31/2011
6,750
0
2,750
70,608
0
42,608
0
0
0
The Application is used by Treasury to establish the bankÂs eligibility to participate in the SBLF program. The legislation requires that the bank have assets less than $10 billion and not be on the ÂTroubled Banks list.
The Lending Plan is used by Treasury to decide whether to purchase the bankÂs stock. In addition, this data is used to set the initial dividend that the bank will pay Treasury, as the legislation links the dividend rate to the expected increase in small business lending contained in the plan. The legislation also requires the bank to describe how they will outreach to veteran, minority and women-owned small businesses.
The Supplemental Report is used by Treasury to set the dividend rate paid by the bank. Increases or decreases in the dividend rate is the primary incentive/penalty of the program to encourage small business lending. If a bank increases small business lending by 10%, it could see its dividend rates drop to 1 percent. Failure to increase small business lending could cause a bankÂs dividend rate increase to 7 percent.
When supplied, the voluntary State RegulatorÂs Views form is used by Treasury to inform the decision of the Investment Committee regarding the institutionÂs application for SBLF funds. The form provides the state regulatorÂs assessment of the applicantÂs financial condition, their likelihood of repayment, and any supervisory findings that might influence the Investment CommitteeÂs decision.
The Department of the Treasury (Treasury) requests emergency processing and approval of the collection of information related to the Small Business Lending Fund (SBLF), which was created when the President signed into law the Small Business Jobs Act of 2010 (P.L. 111-240) on September 27, 2010. SBLF will provide up to $30 billion in needed capital to community banks in order to increase lending to AmericaÂs small businesses. The collection of information is needed to certify that the banks that ultimately receive funding are indeed eligible institutions as defined by the legislation and that their plans to increase lending to small businesses meet the legislationÂs intent. Treasury cannot reasonably comply with the normal clearance procedures under 5 C.F.R. Part 1320 because of the necessity to provide this economic catalyst as soon as possible.
The new burden captures the requirements of the supplemental report. The burden reported here reflects the burden associated with the first year of participation, which will diminish in subsequent years.
No
No
No
No
No
Uncollected
Daniel Ballard 202 674-1781
Reginfo record details
No
On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control number;
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
SBLF_Fact_Sheet_Final.pdf
SBLF OIRA Clearance Documentation 01 21 2011.docx
Supplemental Report