[Federal Register Volume 59, Number 164 (Thursday, August 25, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-20922]
[[Page Unknown]]
[Federal Register: August 25, 1994]
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FEDERAL HOUSING FINANCE BOARD
[No. 94-NO4]
Information Collection Submitted to the Office of Management and
Budget For Review
AGENCY: Federal Housing Finance Board.
ACTION: Notice of submission to the Office of Management and Budget
(OMB) of existing information collection for purposes of renewal of OMB
approval.
DATES: Interested persons are invited to submit comments on or before
October 24, 1994.
ADDRESSES: Written comments should be addressed to the Office of
Information and Regulatory Affairs, Attention Don Arbuckle: Desk
Officer, Federal Housing Finance Board, 726 Jackson Place, N.W., room
3208, New Executive Office Building, Washington, D.C. 20503. Requests
for copies of the information collection and supporting documentation
should be addressed to Brandon B. Straus, Federal Housing Finance
Board, 1777 F Street, N.W. Washington, D.C. 20006.
FOR FURTHER INFORMATION CONTACT: Patricia L. Sweeney, Program Analyst,
District Banks Directorate, (202) 408-2872; Brandon B. Straus,
Attorney-Advisor, (202) 408-2589, Federal Housing Finance Board, 1777 F
Street, N.W. Washington, D.C. 20006.
SUPPLEMENTARY INFORMATION: The information collection described below
has been submitted to OMB for review in order to obtain a renewal of
OMB approval prior to expiration of the currently assigned OMB control
number (3069-0002) on October 31, 1994.
Title of Information Collection: Personal Certification and
Disclosure Forms.
Need For and Use of Information Collection: The Federal Home Loan
Bank Act (Bank Act) establishes certain eligibility requirements for
Federal Home Loan Bank (Bank) appointive and elective directors and
authorizes the Federal Housing Finance Board (Board) to promulgate
rules implementing these requirements. See 12 U.S.C. 1422b(a)(1),
1427(a), (b), (d).
Selected provisions of parts 931 and 932 of the Board's regulations
(director eligibility provisions) implement the statutory eligibility
requirements for Bank directors. See 12 CFR parts 931 and 932. The
information collection is used by Board staff to determine whether
prospective and seated Bank directors satisfy the statutory eligibility
requirements and are carrying out their official responsibilities
without conflicts of interest or the appearance of conflicts of
interest.
The director eligibility provisions require appointive directors;
candidates for appointive director; elective directors; and nominees
for elective director to file forms with the Board certifying their
compliance with the applicable statutory and regulatory requirements
and disclosing certain financial relationships.
Where the information collected indicates that an appointive
director candidate or elective director nominee is not eligible to
serve, the person is so notified, and his or her name is withdrawn from
consideration for the directorship, unless the person intends to remedy
the ineligibility. If the information collected reveals that a seated
appointive director is ineligible to serve, the director is so notified
and is either required to resign or given the opportunity, in the
Board's discretion, to cure the ineligibility. If the information
collected indicates that a seated elective director is ineligible, the
person is so notified, and the directorship becomes vacant immediately,
by operation of the statute. See 12 U.S.C. 1427(f)(3). The Board would
promptly notify the affected Bank of any vacancies that have arisen on
its board.
Description of Likely Respondents: The respondents to this
information collection will include all Bank appointive directors;
candidates for appointive director; elective directors; and nominees
for elective director.
Estimate of Burden: The total annual average number of respondents
is estimated at 350, with one response required per respondent. The
average hours per response is estimated at 0.9 hours.
Estimated Annual Reporting Burden
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Average no.
Average no. respondents x responses per = Total average x Average hrs. = Total average
respondent responses per response hours
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350........................... 1 350 0.9 315
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Rita I. Fair,
Acting Managing Director.
[FR Doc. 94-20922 Filed 8-24-94; 8:45 am]
BILLING CODE 6725-01-P