[Federal Register Volume 64, Number 208 (Thursday, October 28, 1999)]
[Notices]
[Pages 58063-58064]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-28107]


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FEDERAL HOUSING FINANCE BOARD

[No. 99-N-15]


Submission for OMB Review; 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 has submitted the information collection entitled 
``Affordable Housing Program'' to the Office of Management and Budget 
(OMB) for review and approval of a three-year extension of the OMB 
control number, which is due to expire on December 31, 1999.

DATES: Interested persons may submit comments on or before November 29, 
1999.

ADDRESSES: Submit comments to the Office of Information and Regulatory 
Affairs of OMB, Attention: Desk Officer for the Federal Housing Finance 
Board, Washington, DC 20503. Address requests for copies of the 
information collection and supporting documentation to Elaine L. Baker, 
Secretary to the Board, by telephone at 202/408-2837, by electronic 
mail at [email protected], or by regular mail at the Federal Housing 
Finance Board,

[[Page 58064]]

1777 F Street, NW, Washington, DC 20006.

FOR FURTHER INFORMATION CONTACT: Janet M. Fronckowiak, Acting Deputy 
Director, Program Assistance Division, Office of Policy, Research and 
Analysis, by telephone at 202/408-2575 or by electronic mail at 
[email protected], or Melissa L. Allen, Program Analyst, Program 
Assistance Division, Office of Policy, Research and Analysis, by 
telephone at 202/408-2524 or by electronic mail at [email protected], or 
by regular mail at the Federal Housing Finance Board, 1777 F Street, 
NW, Washington, DC 20006.

SUPPLEMENTARY INFORMATION:

A. Need For and Use of Information Collection

    Section 10(j) of the Federal Home Loan Bank Act (Bank Act) requires 
the Federal Housing Finance Board (Finance Board) to promulgate 
regulations under which the 12 Federal Home Loan Banks (FHLBanks) must 
establish an Affordable Housing Program (AHP) to make subsidized 
advances to members engaged in lending for long term, low- and 
moderate-income, owner-occupied and affordable rental housing at 
subsidized interest rates. See 12 U.S.C. 1430(j). Section 10(j) also 
establishes the standards and requirements for making subsidized AHP 
advances to FHLBank members. Id. Part 960 of the Finance Board's 
regulations implements the statutory requirements and authorizes the 
FHLBanks to make AHP funding decisions. See 12 CFR part 960.
    The information collection contained in part 960 is necessary to 
enable and is used by the FHLBanks to determine whether an AHP 
applicant satisfies the statutory and regulatory requirements to 
receive subsidized advances or direct subsidies under the AHP. The 
Finance Board requires and uses the information collection, through 
examination of the FHLBanks, to ensure that a FHLBank's funding 
decisions, and the use of the funds awarded, are consistent with 
statutory and regulatory requirements.
    The OMB number for the information collection is 3069-006. The OMB 
clearance for the information collection expires on December 31, 1999.
    The likely respondents include applicants for AHP funding.

B. Burden Estimate

    The Finance Board estimates the total annual average number of 
respondents at 7,462, with 1.33 responses per respondent. The estimate 
for the average hours per response is 6.5 hours. The estimate for the 
total annual hour burden is 64,509 hours (7,462 respondents x 1.33 
responses per respondent x approximately 6.5 hours per response).

C. Comment Request

    In accordance with the requirements of 5 CFR 1320.8(d), the Finance 
Board published a request for public comments regarding this 
information collection in the Federal Register on June 30, 1999. See 64 
FR 35158 (June 30, 1999). The 60-day comment period closed on August 
30, 1999. The Finance Board received no public comments. Written 
comments are requested on: (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. Comments may be submitted to OMB in writing at 
the address listed above.

    By the Federal Housing Finance Board.

    Dated: October 19, 1999.
William W Ginsberg,
Managing Director.
[FR Doc. 99-28107 Filed 10-27-99; 8:45 am]
BILLING CODE 6725-01-P