[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