[Federal Register Volume 68, Number 183 (Monday, September 22, 2003)]
[Notices]
[Page 55056]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-24101]


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FEDERAL HOUSING FINANCE BOARD

[No. 2003-N-7]


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) is 
seeking public comments concerning a three-year extension by the Office 
of Management and Budget (OMB) of the previously approved information 
collection entitled ``Capital Requirements for the Federal Home Loan 
Banks.''

DATES: Interested persons may submit comments on or before November 21, 
2003.

ADDRESSES: Send comments by e-mail to [email protected], by facsimile 
to 202/408-2530, or by regular mail to the Federal Housing Finance 
Board, 1777 F Street, NW., Washington, DC 20006, ATTN: Public Comments. 
For copies of the information collection or public comments, contact 
Karen Rogers, Executive Secretary, by e-mail at [email protected], by 
facsimile at (202) 408-2530, or by telephone at (202) 408-2910.

FOR FURTHER INFORMATION CONTACT: Jonathon F. Curtis, Senior Financial 
Analyst, Regulations & Research Division, Office of Supervision, by e-
mail at [email protected], by telephone at (202) 408-2866, 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 the Information Collection

    Section 6 of the Federal Home Loan Bank Act (Bank Act) establishes 
the capital structure for the Federal Home Loan Banks (Banks) and 
requires the Finance Board to issue regulations prescribing uniform 
capital standards applicable to each Bank. 12 U.S.C. 1426. In 
compliance with the requirements of section 6, the Finance Board added 
parts 930, 931, 932 and 933 to its regulations to implement the 
statutory capital structure for the Banks. 12 CFR parts 930, 931, 932 
and 933. Part 930 establishes definitions applicable to risk management 
and the capital regulations; part 931 concerns Bank capital stock; part 
932 establishes Bank capital requirements; and part 933 sets forth the 
requirements for Bank capital structure plans. The implementing 
regulations also include conforming changes to parts 917, 925 and 956, 
which concern, respectively, the powers and responsibilities of Bank 
boards of directors and senior management, Bank members, and Bank 
investments. 12 CFR parts 917, 925 and 956.
    The Banks use the information collection contained in the rules 
implementing section 6 of the Bank Act to determine the amount of 
capital stock a member must purchase to maintain membership in and to 
obtain services from a Bank. More specifically, sections 931.3 and 
933.2(a) authorize a Bank to offer its members several options to 
satisfy a membership investment in capital stock and an activity-based 
stock purchase requirement. 12 CFR 931.3 and 933.2(a). The information 
collection is necessary to provide the Banks with the flexibility to 
meet the statutory and regulatory capital structure requirements while 
allowing Bank members to choose the option best suited to their 
business requirements.
    The OMB number for the information collection is 3069-0059. The OMB 
clearance for the information collection expires on November 30, 2003. 
The likely respondents include Banks and Bank members.

B. Burden Estimate

    The Finance Board estimates the total annual average number of 
activity-based stock purchase requirement respondents at 4,000, with 4 
responses per respondent. The estimate for the average hours per 
response is 20 hours. The estimate for the annual hour burden for 
activity-based stock purchase requirement respondents is 320,000 hours 
(4,000 activity-based respondents x 4 responses per respondent x 20 
hours per response).
    The Finance Board estimates the total annual average number of 
membership investment in capital stock respondents at 8,000, with 4 
responses per respondent. The estimate for the average hours per 
response is 10 hours. The estimate for the annual hour burden for 
membership investment in capital stock respondents is 320,000 hours 
(8,000 membership investment respondents x 4 responses per respondent x 
10 hours per response).
    The estimate for the total annual hour burden for all respondents 
is 640,000 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.
Donald Demitros,
Chief Information Officer.
[FR Doc. 03-24101 Filed 9-18-03; 12:01 pm]
BILLING CODE 6725-01-P