[Federal Register Volume 69, Number 146 (Friday, July 30, 2004)]
[Notices]
[Pages 45715-45716]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 04-17331]
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FEDERAL HOUSING FINANCE BOARD
[No. 2004-N-11]
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
``Federal Home Loan Bank Directors.''
DATES: Interested persons may submit comments on or before September
28, 2004.
COMMENTS: Submit comments by any of the following methods:
E-mail: [email protected].
Fax: 202/408-2580.
Mail/Hand Delivery: Federal Housing Finance Board, 1777 F Street,
NW., Washington, DC 20006, Attention: Public Comments.
Federal eRulemaking Portal: http://www.regulations.gov. Follow the
instructions for submitting comments. If you submit your comment to the
Federal eRulemaking Portal, please also send it by e-mail to the
Finance Board at [email protected] to ensure timely receipt by the
agency.
Include the following information in the subject line of your
submission: Federal Housing Finance Board. Proposed Collection; Comment
Request: Federal Home Loan Bank Directors. 2004-N-11.
We will post all public comments we receive on this notice without
change, including any personal information you provide, such as your
name and address, on the Finance Board Web site at http://www.fhfb.gov/pressroom/pressroom_regs.htm.
FOR FURTHER INFORMATION CONTACT: Patricia L. Sweeney, Program Analyst,
Office of Supervision by telephone at 202/408-2872, by electronic mail
at [email protected], or by regular mail to the Federal Housing Finance
Board, 1777 F Street, NW., Washington, DC 20006.
SUPPLEMENTARY INFORMATION:
A. Need For and Use of Information Collection
Section 7 of the Federal Home Loan Bank Act (Bank Act) and the
Finance Board's implementing regulation establish the eligibility
requirements and the procedures for electing and
[[Page 45716]]
appointing Federal Home Loan Bank (FHLBank) directors. See 12 U.S.C.
1427; 12 CFR part 915. Under part 915, the FHLBanks determine the
eligibility of elective directors and director nominees and run the
director election process. The Finance Board determines the eligibility
of and selects all appointive FHLBank directors. To determine
eligibility, the FHLBanks use the Elective Director Eligibility
Certification Form and the Finance Board uses the Appointive Director
Eligibility Certification Form. The Finance Board regulation also
requires incumbent directors to certify annually that they continue to
meet the director eligibility requirements.
The Finance Board uses the information contained in the Appointive
Director Eligibility Certification Form and part 915 to determine
whether prospective and incumbent appointive directors satisfy the
statutory and regulatory eligibility requirements. Only individuals
meeting these requirements may serve as appointive FHLBank directors.
See 12 U.S.C. 1427(a) and (f)(2). The FHLBanks, and where appropriate,
the Finance Board, use the information in the Elective Director
Eligibility Certification Form and part 915 to determine whether
elective directors and director nominees satisfy the statutory and
regulatory eligibility requirements. Only individuals meeting these
requirements may serve as elective FHLBank directors. See 12 U.S.C.
1427(a), (b) and (f)(3).
The likely respondents include FHLBanks, FHLBank members, and
prospective and incumbent FHLBank directors.
The OMB number for the information collection is 3069-0002. The OMB
clearance for the information collection expires on October 31, 2004.
B. Burden Estimate
The Finance Board estimates that total number of respondents is
4,976, which includes 12 FHLBanks, 4600 FHLBank members, and 364
prospective and incumbent FHLBank directors. As explained below, the
Finance Board estimates that the total annual hour burden for all
respondents is 5,302 hours.
The Finance Board estimates the total annual average hour burden
for each FHLBank to run the election of directors and process director
nominee/director forms is 235 hours. The estimate for the average hour
burden for all FHLBanks is 2,820 hours (12 FHLBanks x 235 hours).
The Finance Board estimates the total annual average hour burden
for an FHLBank member to participate in the director election process
is 30 minutes. The estimate for the average hour burden for all FHLBank
members that participate in the director election process is 2,300
hours (4,600 FHLBank members x 0.5 hours).
The Finance Board estimates the total annual average number of
prospective and incumbent appointive directors at 84, with 1 response
per individual. The estimate for the average hour burden per individual
is 30 minutes. The estimate for the average hour burden for all
prospective and incumbent appointive directors is 42 hours (84
prospective and incumbent appointive directors x 1 response per
individual x 0.5 hours). The Finance Board estimates the total annual
average number of prospective and incumbent elective directors at 280,
with 1 response per individual. The estimate for the average hour
burden per individual is 30 minutes. The estimate for the annual hour
burden for all prospective and incumbent elective directors is 140
hours (280 prospective and incumbent elective directors x 1 response
per individual x 0.5 hours). The estimate for the average hour burden
for all prospective and incumbent FHLBank directors is 182 hours (84
prospective and incumbent appointive directors + 280 prospective and
incumbent elective directors) x 1 response per individual x 0.5 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.
Dated: July 26, 2004.
By the Federal Housing Finance Board.
Donald Demitros,
Chief Information Officer.
[FR Doc. 04-17331 Filed 7-29-04; 8:45 am]
BILLING CODE 6725-01-P