[Federal Register Volume 62, Number 215 (Thursday, November 6, 1997)]
[Notices]
[Page 60093]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-29368]



[[Page 60093]]

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FEDERAL HOUSING FINANCE BOARD

[No. 97-N-8]


Proposed Collection; Comment Request

AGENCY: Federal Housing Finance Board.

ACTION: Notice.

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SUMMARY: In accordance with the requirements of the Paperwork Reduction 
Act of 1995, the Federal Housing Finance Board (Finance Board) hereby 
gives notice that it is seeking public comments concerning a three-year 
extension by the Office of Management and Budget (OMB) of the 
previously approved information collection entitled ``Personal 
Certification and Disclosure Forms.''

DATES: Interested persons may submit comments on or before January 5, 
1998.

ADDRESSES: Address written comments and requests for copies of the 
information collection to Elaine L. Baker, Secretary to the Board, 202/
408-2837, Federal Housing Finance Board, 1777 F Street, N.W., 
Washington, D.C. 20006.

FOR FURTHER INFORMATION CONTACT: Patricia L. Sweeney, Program Analyst, 
Compliance Assistance Division, Office of Policy, 202/408-2872, or 
Janice A. Kaye, Attorney-Advisor, Office of General Counsel, 202/408-
2505, Federal Housing Finance Board, 1777 F Street, N.W., Washington, 
D.C. 20006.

SUPPLEMENTARY INFORMATION:

A. Need For and Use of Information Collection

    Section 7 of the Federal Home Loan Bank Act (Bank Act) and parts 
931 and 932 of the Finance Board's regulations establish eligibility 
and reporting requirements and the procedures for electing and 
appointing Federal Home Loan Bank (FHLBank) directors. See 12 U.S.C. 
1427; 12 CFR parts 931 and 932. The information collection contained in 
the FHLBank director personal certification and disclosure forms and 
Secs. 932.18 and 932.21 of the Finance Board's regulations is necessary 
to enable the Finance Board to determine whether prospective and 
incumbent FHLBank directors satisfy the statutory and regulatory 
eligibility and reporting requirements. See Finance Board Forms E-1, E-
2, A-1, and A-2; 12 CFR 932.18 (appointive directors) and 932.21 
(elective directors). Finance Board staff uses the information 
collection to determine whether such individuals meet the statutory and 
regulatory eligibility and reporting requirements.
    The likely respondents include only prospective and incumbent 
FHLBank directors. Currently, there are 109 elective directors and 72 
appointive directors serving on the boards of directors of the 
FHLBanks. The information collection requires each respondent to 
complete and submit to the Finance Board for review a personal 
certification and disclosure form prior to election or appointment and, 
once elected or appointed, annually during the term of service. See 12 
CFR 932.18(f)(1), (3) and 932.21(g)(1), (3). Incumbent directors also 
have a continuing obligation promptly to notify the Finance Board of 
any known or suspected ineligibility. Id. Secs. 932.18(f)(2) and 
932.21(g)(2).
    The OMB number for the information collection is 3069-0002. The OMB 
clearance for the information collection expires on January 31, 1997.

B. Burden Estimate

    The Finance Board estimates the total annual average number of 
respondents at 286, with one response per respondent. The estimate for 
the average hours per response is 1.3 hours. The estimate for the total 
annual hour burden is 376 hours (286 respondents x 1 response/
respondent x approximately 1.3 hours). The estimated annualized cost to 
respondents of the information collection is $35,175.00.

C. Comment Request

    The Finance Board requests written comments on the following: (1) 
whether the collection of information is necessary for the proper 
performance of Finance Board functions, including whether the 
information has practical utility; (2) the accuracy of the Finance 
Board's estimates of the burdens of the collection of information; (3) 
ways to enhance the quality, utility, and clarity of the information 
collected; and (4) ways to minimize the burden of the collection of 
information on respondents, including through the use of automated 
collection techniques or other forms of information technology.

    By the Federal Housing Finance Board.

    Dated: October 31, 1997.
William W Ginsberg,
Managing Director.
[FR Doc. 97-29368 Filed 11-5-97; 8:45 am]
BILLING CODE 6725-01-U