[Federal Register Volume 69, Number 24 (Thursday, February 5, 2004)]
[Notices]
[Page 5546]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 04-2353]


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FEDERAL HOUSING FINANCE BOARD

[No. 2004-N-01]


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 information collection entitled 
``Members of the Banks.''

DATES: Interested persons may submit comments on or before April 5, 
2004.

ADDRESSES: Send comments by e-mail to [email protected], by facsimile 
to (202) 408-2580, or by regular mail to the Federal Housing Finance 
Board, 1777 F Street, NW., Washington, DC 20006, Attn: Public Comments. 
Comments will be available on the Finance Board Web site at http://www.fhfb.gov/pressroom/pressroom_regs.htm.

FOR FURTHER INFORMATION CONTACT: Jonathan 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 4 of the Federal Home Loan Bank Act (Bank Act) establishes 
the eligibility requirements an institution must meet in order to 
become a member of a Federal Home Loan Bank (Bank). See 12 U.S.C. 1424. 
Part 925 of the Finance Board regulations--the membership rule--
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 if an 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 sections 925.2 
through 925.31 of the membership rule, 12 CFR 925.2-925.31, is 
necessary to enable a Bank to determine if 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 3069-0004. The OMB 
clearance for the information collection expires on May 31, 2004.
    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 300, with one response per applicant. The estimate for 
the average hours per application is 21.5 hours. The estimate for the 
annual hour burden for applicants is 6,450 hours (300 applicants x 1 
response per applicant x 21.5 hours per response).
    The Finance Board estimates the total annual average number of 
maintenance respondents, i.e., current Bank members, at 8,100, with one 
response per member. The estimate for the average hours per maintenance 
response is 0.6 hours. The estimate for the annual hour burden for Bank 
members is 4,860 hours (8,100 members x 1 response per member x 0.6 
hours per response).
    The estimate for the total annual hour burden for all respondents 
is 11,310 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.

    Dated: January 30, 2004.

    By the Federal Housing Finance Board.
Don Demitros,
Chief Information Officer.
[FR Doc. 04-2353 Filed 2-4-04; 8:45 am]
BILLING CODE 6725-01-P