[Federal Register Volume 69, Number 192 (Tuesday, October 5, 2004)]
[Notices]
[Page 59597]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 04-22286]



[[Page 59597]]

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FEDERAL HOUSING FINANCE BOARD

[No. 2004-N-12]


Submission for OMB Review; 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) has 
submitted the information collection entitled ``Federal Home Loan Bank 
Directors'' to the Office of Management and Budget (OMB) for review and 
approval of a three-year extension of the OMB control number, which is 
due to expire on October 31, 2004.

DATES: Interested persons may submit comments on or before November 4, 
2004.

ADDRESSES: Submit comments to the Office of Information and Regulatory 
Affairs of the Office of Management and Budget, Attention: Desk Officer 
for the Federal Housing Finance Board, Washington, DC 20503.

FOR FURTHER INFORMATION OR COPIES OF THE COLLECTION 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 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 elected 
directors and director nominees and run the director election process. 
The Finance Board determines the eligibility of and selects all 
appointed FHLBank directors. To determine eligibility, the FHLBanks use 
the Elected Director Eligibility Certification Form and the Finance 
Board uses the Appointed 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 Appointed 
Director Eligibility Certification Form and part 915 to determine 
whether prospective and incumbent appointed FHLBank directors satisfy 
the statutory and regulatory eligibility requirements. The FHLBanks, 
and where appropriate, the Finance Board, use the information in the 
Elected Director Eligibility Certification Form and part 915 to 
determine whether elected FHLBank directors and director nominees 
satisfy the statutory and regulatory eligibility requirements. Only 
individuals meeting these requirements may serve as FHLBank directors. 
See 12 U.S.C. 1427.
    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 
5010, which includes 12 FHLBanks, 4600 FHLBank members, and 398 
prospective and incumbent FHLBank directors. As explained below, the 
Finance Board estimates that the total annual hour burden for all 
respondents is 4210 hours.
    The Finance Board estimates the total annual average hour burden 
for each FHLBank to run the election of directors and process 
prospective and incumbent Elected Director Eligibility Certification 
Forms is approximately 234 hours. The estimate for the average hour 
burden for all FHLBanks is 2809 hours (12 FHLBanks x approximately 234 
hours).
    The Finance Board estimates the total annual average hour burden 
for all FHLBank members to participate in the director election process 
is 1150 hours. This includes 150 hours for FHLBank members to process 
director nomination forms (600 FHLBank members processing nomination 
forms x 0.25 hours) and 1000 hours for FHLBank members to vote in the 
director election (4000 FHLBank voting members x 0.25 hours).
    The Finance Board estimates the total annual average hour burden 
for all FHLBank directors is 251 hours. This includes 155 hours for 
prospective FHLBank directors to complete and return Director 
Eligibility Certification Forms (206 prospective directors x 1 response 
per individual x 0.75 hours). It also includes 96 hours for incumbent 
FHLBank directors to complete and return Director Eligibility 
Certification Forms or updates, as appropriate (192 incumbent FHLBank 
directors x 1 response per individual x 0.5 hours).

C. Comment Request

    In accordance with the requirements of 5 CFR 1320.8(d), the Finance 
Board published a request for public comments regarding this 
information collection in the Federal Register on July 30, 2004. See 69 
FR 45715 (July 30, 2004). The 60-day comment period closed on September 
28, 2004. The Finance Board received no public comments.
    Written comments are requested on: (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. Comments should be submitted to OMB in writing 
at the address listed above.

    Dated: September 29, 2004.
    By the Federal Housing Finance Board.
Mark J. Tenhundfeld,
General Counsel.
[FR Doc. 04-22286 Filed 10-4-04; 8:45 am]
BILLING CODE 6725-01-P