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HFA Initiative Reporting. Webinar June 30, 2010. Agenda. Reporting Description Overview/Rationale Types of Reporting Upcoming Steps Initial Comment Period Paperwork Reduction Act Key dates Submission/Logistics Q&A. Reporting Description.

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hfa initiative reporting

HFA Initiative Reporting

Webinar

June 30, 2010

agenda
Agenda
  • Reporting Description
    • Overview/Rationale
    • Types of Reporting
  • Upcoming Steps
    • Initial Comment Period
    • Paperwork Reduction Act
    • Key dates
  • Submission/Logistics
  • Q&A
reporting description
Reporting Description
  • Single, comprehensive reporting package for HFAs participating in the New Issue Bond Program (NIBP) and the Temporary Credit and Liquidity Program (TCLP)
  • Categories of reporting focus on:
    • HFA Business
    • Indenture Detail
    • Policy Success Metrics
    • Compliance
  • Frequency of reporting may be: quarterly, monthly, annually, or at occurrence.
  • Some elements of the reporting package may involve non-public information
purpose for reporting
Purpose For Reporting
  • Manage the Initiative effectively
  • Monitor the risks to Treasury, the GSEs, and Taxpayers
  • Determine overall effectiveness of the Initiative in achieving its policy goals
  • Promote transparency in the financial system
  • Enable us to articulate the strongest case possible for the Initiative success
agenda1
Agenda
  • Reporting Description
    • Overview/Rationale
    • Types of Reporting
  • Upcoming Steps
    • Initial Comment Period
    • Paperwork Reduction Act
    • Key dates
  • Submission/Logistics
  • Q&A
hfa business reporting information
HFA Business Reporting Information

Includes Financial Reports and other Submissions and Notices & Certifications

  • Provides Treasury the ability to manage the NIBP and TCLP on a day-to-day basis
  • Helps Treasury monitor its overall exposure
indenture detail information
Indenture Detail Information
  • Provides Treasury with relevant detail on precisely how its risk position is changing over time
  • Allows Treasury to compare any actual losses versus expected losses, project cash flows and re-calibrate loss and gain expectation
  • Enables Treasury & GSEs to update cost and benefit estimates for the program and remain consistent with government-wide accounting standards
  • Provides the Treasury & GSEs with transparency necessary to keep senior officials appropriately informed of the status of taxpayer investment
  • Includes Single-family Indenture Reporting, Multi-loan MF Indenture Reporting and Single-loan MF indenture Reporting
policy success metrics information
Policy Success Metrics Information
  • Enables Treasury to measure the impact of the Initiative as a policy response
  • Helps Treasury articulate the strongest case possible for the Initiative’s success
  • Includes Policy Outcome Metric: Single-family NIBP and Policy Outcome Metric: Multifamily NIBP
compliance checklist information
Compliance Checklist Information
  • Allows each HFA to certify in a single document its compliance with the Initiative’s key provisions
  • The Compliance Certification contains a consolidation of provisions derived from Program documents
agenda2
Agenda
  • Reporting Description
    • Overview/Rationale
    • Types of Reporting
  • Upcoming Steps
    • Initial Comment Period
    • Paperwork Reduction Act
    • Key dates
  • Submission/Logistics
  • Q&A
feedback and questions
Feedback and Questions
  • Primary comment period runs through Friday, July 9.
    • All comments should be communicated through NCSHA/NALHFA as appropriate
    • Trade associations will deliver feedback after 7/9
  • Requirements will be finalized based on feedback from Associations
  • HFA-specific questions after 7/9 should be directed to the appropriate GSE POC.
paperwork reduction act
Paperwork Reduction Act
  • Under PWA, federal agencies must have OIRA/OMB approval for information collections
    • Currently approved on an emergency basis expiring in 6 months
    • OMB Control number is 1505-0224
  • Long-term approval requires publication in Federal Register and public comment period
    • Renewal request will lead to publication in July
    • Comments are accepted, but will not have the same weight as initial comment period
submission
Submission

Please submit all required reports to HFAReporting@SSgA.com

Include HFA Name in Subject of all e-mails