HFA Initiative HFA Initiative ReportingReporting

WebinarWebinar

June 30, 2010June 30, 2010

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AgendaAgenda

Reporting DescriptionReporting Description– Overview/RationaleOverview/Rationale

– Types of ReportingTypes of Reporting

Upcoming StepsUpcoming Steps– Initial Comment PeriodInitial Comment Period

– Paperwork Reduction ActPaperwork Reduction Act

– Key datesKey dates

Submission/LogisticsSubmission/Logistics Q&AQ&A

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Reporting DescriptionReporting Description

Single, comprehensive reporting package for HFAs Single, comprehensive reporting package for HFAs participating in the New Issue Bond Program (NIBP) and participating in the New Issue Bond Program (NIBP) and the Temporary Credit and Liquidity Program (TCLP)the Temporary Credit and Liquidity Program (TCLP)

Categories of reporting focus on:Categories of reporting focus on:– HFA Business HFA Business – Indenture Detail Indenture Detail – Policy Success MetricsPolicy Success Metrics– ComplianceCompliance

Frequency of reporting may be: quarterly, monthly, Frequency of reporting may be: quarterly, monthly, annually, or at occurrence.annually, or at occurrence.

Some elements of the reporting package may involve Some elements of the reporting package may involve non-public informationnon-public information

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Purpose For ReportingPurpose For Reporting

Manage the Initiative effectivelyManage the Initiative effectively

Monitor the risks to Treasury, the GSEs, and Monitor the risks to Treasury, the GSEs, and

Taxpayers Taxpayers

Determine overall effectiveness of the Initiative in Determine overall effectiveness of the Initiative in

achieving its policy goalsachieving its policy goals

Promote transparency in the financial systemPromote transparency in the financial system

Enable us to articulate the strongest case possible for Enable us to articulate the strongest case possible for

the Initiative successthe Initiative success

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AgendaAgenda

Reporting DescriptionReporting Description– Overview/RationaleOverview/Rationale

– Types of ReportingTypes of Reporting

Upcoming StepsUpcoming Steps– Initial Comment PeriodInitial Comment Period

– Paperwork Reduction ActPaperwork Reduction Act

– Key datesKey dates

Submission/LogisticsSubmission/Logistics Q&AQ&A

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HFA Business Reporting HFA Business Reporting InformationInformation

Includes Financial Reports and other Submissions and Notices & Includes Financial Reports and other Submissions and Notices & CertificationsCertifications

Provides Treasury the ability to manage the NIBP and TCLP on a Provides Treasury the ability to manage the NIBP and TCLP on a day-to-day basis day-to-day basis

Helps Treasury monitor its overall exposureHelps Treasury monitor its overall exposure

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Indenture Detail InformationIndenture Detail Information

Provides Treasury with relevant detail on precisely Provides Treasury with relevant detail on precisely how its risk position is changing over timehow its risk position is changing over time

Allows Treasury to compare any actual losses versus Allows Treasury to compare any actual losses versus expected losses, project cash flows and re-calibrate expected losses, project cash flows and re-calibrate loss and gain expectationloss and gain expectation

Enables Treasury & GSEs to update cost and benefit Enables Treasury & GSEs to update cost and benefit estimates for the program and remain consistent with estimates for the program and remain consistent with government-wide accounting standardsgovernment-wide accounting standards

Provides the Treasury & GSEs with transparency Provides the Treasury & GSEs with transparency necessary to keep senior officials appropriately necessary to keep senior officials appropriately informed of the status of taxpayer investmentinformed of the status of taxpayer investment

Includes Single-family Indenture Reporting, Multi-loan Includes Single-family Indenture Reporting, Multi-loan MF Indenture Reporting and Single-loan MF indenture MF Indenture Reporting and Single-loan MF indenture ReportingReporting

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Policy Success Metrics Policy Success Metrics InformationInformation

Enables Treasury to measure the impact of the Enables Treasury to measure the impact of the Initiative as a policy responseInitiative as a policy response

Helps Treasury articulate the strongest case possible Helps Treasury articulate the strongest case possible for the Initiative’s successfor the Initiative’s success

Includes Policy Outcome Metric: Single-family NIBP Includes Policy Outcome Metric: Single-family NIBP and Policy Outcome Metric: Multifamily NIBPand Policy Outcome Metric: Multifamily NIBP

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Compliance Checklist Compliance Checklist InformationInformation

Allows each HFA to certify in a single document its Allows each HFA to certify in a single document its compliance with the Initiative’s key provisionscompliance with the Initiative’s key provisions

The Compliance Certification contains a consolidation The Compliance Certification contains a consolidation of provisions derived from Program documentsof provisions derived from Program documents

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AgendaAgenda

Reporting DescriptionReporting Description– Overview/RationaleOverview/Rationale

– Types of ReportingTypes of Reporting

Upcoming StepsUpcoming Steps– Initial Comment PeriodInitial Comment Period

– Paperwork Reduction ActPaperwork Reduction Act

– Key datesKey dates

Submission/LogisticsSubmission/Logistics Q&AQ&A

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Feedback and QuestionsFeedback and Questions

Primary comment period runs through Friday, July 9.Primary comment period runs through Friday, July 9.

– All comments should be communicated through All comments should be communicated through NCSHA/NALHFA as appropriateNCSHA/NALHFA as appropriate

– Trade associations will deliver feedback after 7/9Trade associations will deliver feedback after 7/9

Requirements will be finalized based on feedback from Requirements will be finalized based on feedback from AssociationsAssociations

HFA-specific questions after 7/9 should be directed to HFA-specific questions after 7/9 should be directed to the appropriate GSE POC.the appropriate GSE POC.

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Paperwork Reduction ActPaperwork Reduction Act

Under PWA, federal agencies must have OIRA/OMB Under PWA, federal agencies must have OIRA/OMB approval for information collectionsapproval for information collections

– Currently approved on an emergency basis expiring in 6 monthsCurrently approved on an emergency basis expiring in 6 months

– OMB Control number is 1505-0224OMB Control number is 1505-0224

Long-term approval requires publication in Federal Long-term approval requires publication in Federal Register and public comment periodRegister and public comment period

– Renewal request will lead to publication in JulyRenewal request will lead to publication in July

– Comments are accepted, but will not have the same weight as Comments are accepted, but will not have the same weight as initial comment periodinitial comment period

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Important Dates Important Dates

Comments On Comments On Requirements Requirements DueDue

July 9, 2010July 9, 2010

Requirements Requirements FinalizedFinalized

July 23, 2010July 23, 2010

Q2 2010 Reporting Q2 2010 Reporting DueDue

September 30, September 30, 20102010

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SubmissionSubmission

Please submit all required reports to HFAReporting@SSgA.com

Reporting Type Format

Indenture Detail XLS

Policy Metrics XLS

Compliance Certification Signed, scanned PDF

All others PDF

Include HFA Name in Subject of all e-mails

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Thank YouThank You

for participatingfor participating

in this webinar!in this webinar!