This change request revises the ECIP Application and Instructions previously approved under this OMB control number. OMB is approving this revision as a non-sub change due to the recent emergency approval of this OMB control number.
table that charts list comparision
Inventory as of this Action
Requested
Previously Approved
11/30/2021
11/30/2021
11/30/2021
3,555
0
3,555
91,081
0
91,081
0
0
0
The Consolidated Appropriations Act, 2021, signed into law on December 27, 2020, added Section 104A of the Community Development Banking and Financial Institutions Act of 1994 (the âActâ). Section 104A authorizes the Secretary of the Treasury to establish the Emergency Capital Investment Program (âECIPâ or the âProgramâ) to support the efforts of low- and moderate-income community financial institutions to, among other things, provide loans, grants, and forbearance for small businesses, minority-owned businesses, and consumers, especially in low-income and underserved communities, including persistent poverty counties, that may be disproportionately impacted by the economic effects of the COVID-19 pandemic by providing direct and indirect capital investments in low-and moderate-income community financial institutions.
Pursuant to the Office of Management and Budget (OMB) procedures established at 5 C.F.R. §1320.13, the Department of the Treasury (Treasury) requests emergency processing for the Emergency Capital Investment Program (âECIPâ or the âProgramâ) information collection request, revising OMB Control Number 1505-0267.
The Consolidated Appropriations Act, 2021, signed into law on December 27, 2020, added Section 104A of the Community Development Banking and Financial Institutions Act of 1994 (the âActâ). Section 104A authorizes the Secretary of the Treasury to establish the Program to support the efforts of low- and moderate-income community financial institutions to, among other things, provide loans, grants, and forbearance for small businesses, minority-owned businesses, and consumers, especially in low-income and underserved communities, including persistent poverty counties, that may be disproportionately impacted by the economic effects of the COVID-19 pandemic by providing direct and indirect capital investments in low-and moderate-income community financial institutions.
Due to the need to make Covid-19 relief investments under the Program as soon as possible, Treasury requests emergency processing and approval by July 8, 2021 for the State Regulatory Response form. The State Regulatory Response form collects information from state banking regulatory agencies on financial condition, supervisory considerations, emergency investment lending plan and other additional considerations. State banking regulators have a unique role in provision of the requested information that is derived from their oversight activities. Given the inability to seek public comment during such a short timeframe, Treasury requests a waiver from the requirement to publish notice in the Federal Register seeking public comments.
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.
ECIP State Regulatory Response Form
1505-0267 Change Request Justification -Revised App and Plan.docx
ECIP Emergency Justification Memo - State Regulator Form_Signed.pdf
ECIP State Regulatory Response Form