[Federal Register Volume 65, Number 247 (Friday, December 22, 2000)]
[Notices]
[Pages 80863-80864]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 00-32657]


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FEDERAL HOUSING FINANCE BOARD

[No. 2000-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 
information collection entitled ``Members of the Banks.''

DATES: Interested persons may submit comments on or before February 20, 
2001.

ADDRESSES: Address comments and requests for copies of the information 
collection 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, 1777 F Street, NW., Washington, 
DC 20006.

FOR FURTHER INFORMATION CONTACT: Jonathan F. Curtis, Senior Financial 
Analyst, Market Research and System Analysis Division, Office of 
Policy, Research and Analysis, by telephone at 202/408-2866, by 
electronic mail at [email protected], or by regular mail at the Federal 
Housing Finance Board, 1777 F Street, NW., Washington, DC 20006. A 
telecommunications device for deaf persons (TDD) is available at 202/
408-2579.

SUPPLEMENTARY INFORMATION:   

A. Need For and Use of the Information Collection

    Section 4 of the Federal Home Loan Bank Act (Bank Act), 12 U.S.C. 
1424, establishes the eligibility requirements an institution must meet 
in order to become a member of a Federal Home Loan Bank (Bank). Part 
925 of the Finance Board's regulations implements section 4 of the Bank 
Act. See 12 CFR part 925. The membership rule provides uniform 
requirements an applicant for Bank membership must meet and review 
criteria a Bank must apply to determine whether the applicant satisfies 
the statutory and regulatory membership eligibility requirements.
    More specifically, the membership rule implements the statutory 
eligibility requirements and provides guidance to an applicant on how 
it may satisfy such requirements. The rule authorizes a Bank to approve 
or deny each membership application subject to the statutory and 
regulatory requirements and permits an applicant to appeal to the 
Finance Board a Bank's decision to deny certification as a Bank member. 
The rule also imposes a continuing obligation on a current Bank member 
to provide information necessary to determine if it remains in 
compliance with applicable statutory and regulatory eligibility 
requirements.
    The information collection, which is contained in Sec. 925.2 
through Sec. 925.31 of the membership rule, 12 CFR 925.2--925.31, is 
necessary to enable a Bank to

[[Page 80864]]

determine whether a respondent satisfies the statutory and regulatory 
requirements to be certified initially and maintain its status as a 
member eligible to obtain Bank advances. The Finance Board requires and 
uses the information collection to determine whether to uphold or 
overrule a Bank's decision to deny member certification to an 
applicant.
    The OMB number for the information collection is 3069-004. The OMB 
clearance for the information collection expires on April 30, 2001.
    The likely respondents are institutions that want to be certified 
as or are members of a Bank.

B. Burden Estimate

    The Finance Board estimates the total annual average number of 
applicants at 800, with one response per applicant. The estimate for 
the average hours per application is 21.5 hours. The Finance Board 
estimates the total annual average number of maintenance respondents, 
i.e., current Bank members, at 7,800, with one response per member. The 
estimate for the average hours per maintenance response is 0.6 hours. 
The estimate for the total annual hour burden is 21,880 hours (7,800 
members x 1 response per member x approximately 0.6 hours plus 800 
applicants x 1 response per applicant x approximately 21.5 hours).

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: December 15, 2000.
James L. Bothwell,
Managing Director.
[FR Doc. 00-32657 Filed 12-21-00; 8:45 am]
BILLING CODE 6725-01-P