Emergency Capital Investment Program

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
ECIP State Regulatory Response Form	Form and Instruction	Removed	Available
Lending Plans and associated recordkeeping	Form and Instruction	Removed	Available
Response to Applicant Notification Letter	Form and Instruction	Modified	Available
1505-0267 ECIP Emergency Justification Memo - Award Notification Letter 2021-12-13_signed.pdf	Supplementary Document	Uploaded 2021-12-14	Available
1505-0267 ECIP Supporting Statement - Applicant Notification Letter 2021-12-13.docx	Supporting Statement A	Uploaded 2021-12-14	Available

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
248279	ECIP State Regulatory Response Form	Form and Instruction	Removed
246084	Exemptive Relief Request		Removed
246083	Expenditure Policies		Removed
246082	Lending Plans and associated recordkeeping	Form and Instruction	Removed
246081	Response to Applicant Notification Letter	Form and Instruction	Modified

ICR Details

OMB Control No: 1505-0267	ICR Reference No: 202112-1505-003
Status: Active	Previous ICR Reference No: 202107-1505-009
Agency/Subagency: TREAS/DO	Agency Tracking No:
Title: Emergency Capital Investment Program
Type of Information Collection: Reinstatement with change of a previously approved collection	Common Form ICR:  No
Type of Review Request: Emergency	Approval Requested By: 12/14/2021
OIRA Conclusion Action: Approved without change	Conclusion Date: 12/14/2021
	Date Received in OIRA: 12/14/2021
Terms of Clearance:

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	06/30/2022	6 Months From Approved
Responses	186	0	0
Time Burden (Hours)	47	0	0
Cost Burden (Dollars)	0	0	0

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Abstract: 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 “Act”). Section 104A authorizes the Secretary of the Treasury to establish the Emergency Capital Investment Program (“ECIP” or 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.

Emergency Justfication: 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 “Act”). 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. Applications for the ECIP program were previously approved under 1505-0267. Following review of the applications, Treasury is now ready to make awards. Due to the need to make Covid-19 relief investments under the Program as soon as possible, Treasury requests emergency processing and approval by December 13, 2021, for the Applicant Notification Letter. The Applicant Notification Letter collects information from applicants on intent to proceed with an investment from the ECIP, the requested investment amount, and the name and contact information for the institution’s primary contact for the investment closing process. Applicants are uniquely positioned to alert Treasury of their intention to participate in ECIP, at what amount, and with whom to facilitate the closing, which information is essential to completing the investment process. 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.

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Authorizing Statute(s): PL: Pub.L. 116 - 68 104A Name of Law: Consolidated Appropriations Act 2021
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 1

table that charts list of burden

IC Title	Form No.	Form Name
ECIP State Regulatory Response Form	n/a	State Regulatory Response Form
Exemptive Relief Request
Expenditure Policies
Lending Plans and associated recordkeeping	n/a	ECIP Lending Plan
Response to Applicant Notification Letter	n/a	ECIP Applicant Notification Letter

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ICR Summary of Burden

table that charts list of burden

	Total Approved	Previously Approved	Change Due to New Statute	Change Due to Agency Discretion	Change Due to Adjustment in Estimate	Change Due to Potential Violation of the PRA
Annual Number of Responses	186	0	0	-2,269	0	2,455
Annual Time Burden (Hours)	47	0	0	-90,667	0	90,714
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Miscellaneous Actions

Burden decreases because of Program Change due to Agency Discretion: Yes

Burden Reduction Due to: Miscellaneous Actions

Short Statement: This collection of information reflects an increase of 46.5 burden hours due to the issuance of applicant notification letters.

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Annual Cost to Federal Government: $2,000

Does this IC contain surveys, censuses, or employ statistical methods? No

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     No

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? Yes

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Common Form ICR:  No

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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:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(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;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

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.

Certification Date: 12/14/2021

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