[Federal Register Volume 70, Number 38 (Monday, February 28, 2005)]
[Rules and Regulations]
[Pages 9507-9511]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 05-3718]


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FEDERAL HOUSING FINANCE BOARD

12 CFR Parts 905, 906, 925, 926, 931, 933, 944, 950, and 951

[No. 2005-03]
RIN 3069-AB29


Amendments to the Contractor Outreach Program for Businesses 
Owned by Minorities, Women, or Individuals With Disabilities

AGENCY: Federal Housing Finance Board.

ACTION: Final rule.

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SUMMARY: The Federal Housing Finance Board (Finance Board) is updating 
its regulation establishing a minority contractors outreach program to 
reflect changes in the agency's procurement process and organization, 
to include individuals with disabilities, and to make general editorial 
changes intended to simplify the rule. The Finance Board also is adding 
a new section to its Description of Organization and Functions 
regulation listing the control numbers and expiration dates for all 
agency information collections approved by the Office of Management and 
Budget (OMB) under the Paperwork Reduction Act of 1995 (PRA).

DATES: The final rule will become effective on March 30, 2005.

FOR FURTHER INFORMATION CONTACT: Charles E. McLean, Outreach Advocate, 
by electronic mail at [email protected], by telephone at (202) 408-2537, 
by facsimile at (202) 408-2850; David A. Lee, Associate Director, Human 
Resources and Administration Division, Office of Management, by 
electronic mail at [email protected], by telephone at (202) 408-2514, by 
facsimile at (202) 408-2530; or Janice A. Kaye, Senior Attorney-
Advisor, Office of General Counsel, by electronic mail at 
[email protected], by telephone at (202) 408-2505, by facsimile at (202) 
408-2580. You can send regular mail to the Federal Housing Finance 
Board, 1777 F Street, NW., Washington, DC 20006.

SUPPLEMENTARY INFORMATION:

I. Minorities, Women and Individuals With Disabilities Contractor 
Outreach Program

A. Statutory and Regulatory Background

    In 1989, Congress enacted a law requiring the Finance Board and 
other federal banking agencies to adopt regulations intended ``to 
ensure inclusion, to the maximum extent possible, of minorities and 
women, and entities owned by minorities and women * * * in all 
contracts entered into by the agency. * * * '' See 12 U.S.C. 1833e(c). 
In response, the Finance Board adopted a rule establishing a minority 
contractors outreach program.\1\ The purpose of the outreach program is 
to identify and solicit the participation of businesses owned by 
minorities or women in the Finance Board's procurement process.
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    \1\ See 12 CFR 906.5.
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    The Finance Board has not revised its contractor outreach program 
since 1993.\2\ Under the current rule, the outreach program 
procedurally is more complex than necessary for an agency the size of 
the Finance Board. It also has been less effective in practice than 
anticipated in achieving the goal of increased participation by 
minority- and women-owned businesses in agency contracts. Additionally, 
since adoption of the rule in 1993, the Finance Board's contracting 
process and general organization have changed. This final rule will 
streamline the outreach program in an effort to improve its 
effectiveness and also update it to reflect the changes in agency 
organization and practice.
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    \2\ 58 FR 19195 (April 13, 1993).
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    While not required by statute, the Finance Board is extending 
coverage of the outreach program to businesses owned by individuals 
with disabilities. This is consistent with the intent of the 
Rehabilitation Act of 1973, which, among other things, requires 
agencies to enhance the prospects for federal employment of qualified 
individuals with disabilities.\3\ It also advances the goals of an 
Executive Order issued by the President on October 20, 2004, which is 
intended to strengthen opportunities in federal contracting for service 
disabled veterans.\4\ Other agencies subject to the contractor outreach 
requirement have included businesses owned by individuals with 
disabilities in their program.\5\
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    \3\ See 29 U.S.C. 701 et seq.
    \4\ E.O. 13360, 69 FR 62549 (Oct. 26, 2004).
    \5\ See, e.g., 12 CFR 4.61-4.66 (Office of the Comptroller of 
the Currency).
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    The Finance Board also is making general editorial changes intended 
to simplify the rule and is using a more user-friendly question-and-
answer format. While the Finance Board is adopting these changes in the 
form of a final rule, comments on ways to improve the outreach program 
are encouraged.

B. Analysis of the Final Rule

1. Purpose
    Section 906.10 explains why the Finance Board has a contractor 
outreach program. Consistent with the principles of full and open 
competition and best value acquisition, the purpose of the outreach 
program is to ensure that businesses owned by minorities, women, and 
individuals with disabilities have the opportunity to participate to 
the full extent possible in all Finance Board contracts.
2. Participants
    Section 906.11 explains who can participate in the contractor 
outreach program. The definition of the term ``minority'' is based on 
guidance provided by the Equal Employment Opportunity Commission (EEOC) 
concerning the collection and presentation of data on race and 
ethnicity.\6\ The rule adopts by reference the definition of the term 
``disability'' used by the EEOC for purposes of the Rehabilitation Act 
of 1973.\7\ Under this EEOC definition, an individual with a disability 
generally means any person who has a physical or mental impairment that 
substantially limits one or more of such person's major life 
activities, has a record of such an impairment, or is regarded as 
having such an impairment.
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    \6\ EEOC guidance is available at:  http://www.eeoc.gov/stats/census/race_ethnic_data.html.
    \7\ See 29 CFR 1630.2(g) and 1630.3.
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    To ensure that the benefits of the program inure to minorities, 
women,

[[Page 9508]]

and individuals with disabilities, the rule requires that participating 
businesses be unconditionally owned by one or more minorities, women, 
or individuals with disabilities. For purposes of the outreach program, 
``unconditionally owned'' means ownership of at least 51 percent of a 
business by one or more members of a minority group, women, or 
individuals with disabilities. In the case of a corporation, it means 
ownership of at least 51 percent of each class of voting stock. In the 
case of a partnership, it means ownership of at least 51 percent of the 
partnership interest. This definition of unconditional ownership is 
consistent with the definition used by other agencies subject to the 
contractor outreach requirement.\8\
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    \8\ See, e.g., 12 CFR 4.62(c) and (e) (Office of the Comptroller 
of the Currency).
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3. How the Outreach Program Works
    Section 906.12 includes the elements of the outreach program. Under 
the program, the Finance Board will identify and solicit the 
participation in agency contracts of businesses owned by minorities, 
women, and individuals with disabilities. To identify businesses, the 
Finance Board will review contact lists provided by Federal agencies, 
trade groups, and other organizations, advertise contracting 
opportunities through targeted media, and participate in targeted 
business promotion events. After identifying businesses, the Finance 
Board will provide information about, and technical assistance to 
participate in, the contracting process. The Finance Board also will 
ensure that personnel involved in the contracting process understand 
and promote the outreach program.
4. Program Monitoring and Oversight
    To maintain the effectiveness of the outreach program, Sec.  906.13 
requires the appointment of an ``Outreach Advocate'' who will be 
responsible for program advocacy, oversight, and monitoring. In 
addition, the Outreach Advocate will be responsible for providing the 
Finance Board with technical assistance and guidance on how best to 
facilitate the participation in the contracting process of minorities, 
women, and individuals with disabilities, and businesses 
unconditionally owned by them.

II. Paperwork Reduction Act Control Numbers

    Under the PRA and the OMB implementing regulation, an agency may 
not sponsor or conduct, and a person is not required to respond to, an 
information collection unless the regulation collecting the information 
displays a currently valid OMB control number. See 44 U.S.C. 3507; 5 
CFR 1320.5 and 1320.8. Currently, the expiration date of the OMB 
control numbers for Finance Board collections of information are 
scattered throughout the agency's regulations. For ease of reference, 
the Finance Board is changing how it provides information about OMB 
control numbers. The Finance Board now will display the OMB control 
numbers and expiration dates for all agency collections of information 
in chart form in a single new section--12 CFR 905.27--that will be 
updated as necessary. This reorganization makes no substantive changes 
to any of the information collections.

III. Notice, Public Participation, and Effective Date

    The notice and publication requirements of the Administrative 
Procedure Act do not apply because this rule concerns only agency 
organization, procedure, or practice. See 5 U.S.C. 553(b)(3)(A). 
Therefore, the Finance Board is publishing these changes in the form of 
a final rule. As previously noted, however, the Finance Board welcomes 
suggestions for how to improve the contractor outreach program.

IV. Regulatory Flexibility Act

    The Finance Board is adopting these amendments in the form of a 
final rule and not as a proposed rule. Therefore, the provisions of the 
Regulatory Flexibility Act do not apply. See 5 U.S.C. 601(2) and 
603(a).

V. Paperwork Reduction Act

    The final rule does not contain any collections of information 
under the Paperwork Reduction Act of 1995. See 44 U.S.C. 3501 et seq. 
Consequently, the Finance Board has not submitted any information to 
OMB for review.

List of Subjects

12 CFR Part 905

    Federal home loan banks, Organization and functions (Government 
agencies).

12 CFR Part 906

    Assessments, Federal home loan banks, Government contracts, 
Mortgages, Reporting and recordkeeping requirements, Women and minority 
businesses.

12 CFR Part 925

    Credit, Federal home loan banks, Reporting and recordkeeping 
requirements.

12 CFR Part 926

    Credit, Federal home loan banks, Reporting and recordkeeping 
requirements.

12 CFR Part 931

    Capital, Credit, Federal home loan banks, Investments, Reporting 
and recordkeeping requirements.

12 CFR Part 933

    Capital, Credit, Federal home loan banks, Investments, Reporting 
and recordkeeping requirements.

12 CFR Part 944

    Credit, Federal home loan banks, Intergovernmental relations, Trade 
practices.

12 CFR Part 950

    Credit, Federal home loan banks, Housing, Reporting and 
recordkeeping requirements.

12 CFR Part 951

    Community development, Credit, Federal home loan banks, Housing, 
Reporting and recordkeeping requirements.


0
For the reasons stated in the preamble, the Finance Board amends 12 
CFR, chapter IX, as follows:

PART 905--DESCRIPTION OF ORGANIZATION AND FUNCTIONS

0
1. Revise the authority citation for part 905 to read as follows:

    Authority: 5 U.S.C. 552; 12 U.S.C. 1422b(a) and 1423; 44 U.S.C. 
3507; 5 CFR 1320.5 and 1320.8.


0
2. Add Sec.  905.27 to read as follows:


Sec.  905.27  OMB control numbers assigned under the Paperwork 
Reduction Act.

    (a) Purpose. This section collects and displays the control numbers 
assigned to information collection requirements contained in Finance 
Board regulations by the Office of Management and Budget (OMB) under 
the Paperwork Reduction Act of 1995 (44 U.S.C. chapter 35) and OMB 
regulations (5 CFR 1320.5 and 1320.8). The Finance Board may not 
sponsor or conduct, and a person is not required to respond to, an 
information collection unless the agency displays a currently valid OMB 
control number.
    (b) Display.

------------------------------------------------------------------------
    12 CFR part or section where          OMB
      identified and  described       control No.     Expiration date
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906.5...............................    3069-0001  July 2007.
915.3...............................    3069-0002  Nov. 2007.
915.4...............................    3069-0002  Nov. 2007.

[[Page 9509]]

 
915.5...............................    3069-0002  Nov. 2007.
915.6...............................    3069-0002  Nov. 2007.
915.7...............................    3069-0002  Nov. 2007.
915.8...............................    3069-0002  Nov. 2007.
915.10..............................    3069-0002  Nov. 2007.
915.12..............................    3069-0002  Nov. 2007.
925.2...............................    3069-0004  May 2007.
925.3...............................    3069-0004  May 2007.
925.5...............................    3069-0004  May 2007.
925.6...............................    3069-0004  May 2007.
925.7...............................    3069-0004  May 2007.
925.8...............................    3069-0004  May 2007.
925.9...............................    3069-0004  May 2007.
925.11..............................    3069-0004  May 2007.
925.12..............................    3069-0004  May 2007.
925.13..............................    3069-0004  May 2007.
925.15..............................    3069-0004  May 2007.
925.16..............................    3069-0004  May 2007.
925.17..............................    3069-0004  May 2007.
925.18..............................    3069-0004  May 2007.
925.22..............................    3069-0004  May 2007.
925.24..............................    3069-0004  May 2007.
925.26..............................    3069-0004  May 2007.
925.31..............................    3069-0004  May 2007.
926.1...............................    3069-0005  Nov. 2005.
926.2...............................    3069-0005  Nov. 2005.
926.3...............................    3069-0005  Nov. 2005.
926.4...............................    3069-0005  Nov. 2005.
926.5...............................    3069-0005  Nov. 2005.
926.6...............................    3069-0005  Nov. 2005.
931.3...............................    3069-0059  Feb. 2007.
931.7...............................    3069-0004  May 2007.
933.2...............................    3069-0059  Feb. 2007.
944.2...............................    3069-0003  Feb. 2006.
944.3...............................    3069-0003  Feb. 2006.
944.4...............................    3069-0003  Feb. 2006.
944.5...............................    3069-0003  Feb. 2006.
950.17..............................    3069-0005  Nov. 2005.
951.1...............................    3069-0006  July 2007.
951.3...............................    3069-0006  July 2007.
951.4...............................    3069-0006  July 2007.
951.6...............................    3069-0006  July 2007.
951.7...............................    3069-0006  July 2007.
951.8...............................    3069-0006  July 2007.
951.10..............................    3069-0006  July 2007.
951.11..............................    3069-0006  July 2007.
951.13..............................    3069-0006  July 2007.
951.15..............................    3069-0006  July 2007.
955.4...............................    3069-0058  Mar. 2007.
------------------------------------------------------------------------


0
3. Revise part 906 to read as follows:

PART 906--OPERATIONS

Subpart A--Assessments on the Banks
Sec.
906.1 Assessment authority.
906.2 Assessment procedure.
Subpart B--Monthly Interest Rate Survey (MIRS)
906.5 Monthly interest rate survey.
Subpart C--Contractor Outreach Program for Businesses Owned by 
Minorities, Women, or Individuals With Disabilities
906.10 Why does the Finance Board have this outreach program?
906.11 Who may participate in the outreach program?
906.12 What outreach efforts are included in this program?
906.13 How does the Finance Board oversee and monitor the outreach 
program?

    Authority: 12 U.S.C. 1422b, 1438(b), and 1833e.

Subpart A--Assessments on the Banks


Sec.  906.1   Assessment authority.

    The Finance Board may impose a semiannual assessment on the Banks 
in an aggregate amount the Finance Board determines is sufficient to 
provide for the payment of its estimated expenses for the period for 
which it makes such assessment.


Sec.  906.2   Assessment procedure.

    (a) At or near the end of each fiscal year, the Finance Board shall 
approve an annual budget of Finance Board expenses for the next fiscal 
year. The Finance Board shall promptly provide a copy of the approved 
budget to each Bank president.
    (b) The Finance Board shall assess the Banks semiannually in an 
aggregate amount it determines is sufficient to pay the expenses 
approved under paragraph (a) of this section. The Finance Board shall 
offset the amount of the semiannual assessments it imposes on the Banks 
by any amount it determines is remaining from previous semiannual 
assessments. The Finance Board shall promptly notify each Bank 
president in writing of the amount on any assessment.
    (c) Each Bank shall pay a pro rata share of the semiannual 
assessments imposed under paragraph (b) of this section. The Finance 
Board shall calculate each Bank's pro rata share based on the ratio 
between the total paid-in value of the Bank's capital stock and the 
aggregate total paid-in value of the capital stock of every Bank. The 
Finance Board shall promptly notify each Bank in writing of the amount 
of its pro rata share of any semiannual assessment.
    (d) Unless otherwise instructed in writing by the Finance Board, 
each Bank shall pay to the Finance Board its pro rata share of an 
assessment in equal monthly installments during the semiannual period 
covered by the assessment.

Subpart B--Monthly Interest Rate Survey (MIRS)


Sec.  906.5   Monthly interest rate survey.

    The Finance Board conducts its Monthly Survey of Rates and Terms on 
Conventional One-Family Non-farm Mortgage Loans in the following 
manner:
    (a) Initial survey. Each month, the Finance Board samples savings 
institutions, commercial banks, and mortgage loan companies, and asks 
them to report the terms and conditions on all conventional mortgages 
(i.e., those not federally insured or guaranteed) used to purchase 
single-family homes that each such lender closes during the last five 
working days of the month. In most cases, the information is reported 
electronically in a format similar to Finance Board Form FHFB 10-91. 
The initial weights are based on lender type and lender size. The data 
also is weighted so that the pattern of weighted responses matches the 
actual pattern of mortgage originations by lender type and by region. 
The Finance Board tabulates the data and publishes standard data tables 
late in the following month.
    (b) Adjustable-rate mortgage index. The weighted data, tabulated 
and published pursuant to paragraph (a) of this section, is used to 
compile the Finance Board's adjustable-rate mortgage index, entitled 
the ``National Average Contract Mortgage Rate for the Purchase of 
Previously Occupied Homes by Combined Lenders.'' This index is the 
successor to the index maintained by the former Federal Home Loan Bank 
Board and is used for determining the movement of the interest rate on 
renegotiable-rate mortgages and on some other adjustable-rate 
mortgages.

Subpart C--Contractor Outreach Program for Businesses Owned by 
Minorities, Women, or Individuals With Disabilities


Sec.  906.10   Why does the Finance Board have this outreach program?

    The Finance Board awards contracts consistent with the principles 
of full and open competition and best value acquisition. The purpose of 
this outreach program is to ensure that minorities, women, and 
individuals with disabilities, and businesses unconditionally owned by 
them, have the maximum practicable opportunity to participate fully in 
all contracts awarded by the Finance Board.


Sec.  906.11   Who may participate in the outreach program?

    Minorities, women, and individuals with disabilities, and 
businesses unconditionally owned by them, may participate in the 
outreach program. As used in this subpart:
    (a) Disability with respect to an individual has the same meaning 
as defined by the Equal Employment Opportunity Commission at 29 CFR 
1630.2(g) and 1630.3.
    (b) Minority means Black or African American, American Indian or 
Alaska

[[Page 9510]]

Native, Hispanic or Latino American, Asian American, and Native 
Hawaiian or Other Pacific Islander.
    (c) Unconditional ownership means ownership of at least 51 percent 
of a business by one or more members of a minority group, women, or 
individuals with disabilities. In the case of a corporation, it means 
ownership of at least 51 percent of each class of voting stock. In the 
case of a partnership, it means ownership of at least 51 percent of the 
partnership interest.


Sec.  906.12   What outreach efforts are included in this program?

    The Finance Board's outreach program includes the following:
    (a) Identifying businesses unconditionally owned by minorities, 
women, and individuals with disabilities by obtaining lists and 
directories that may be maintained by government agencies, trade 
groups, and other organizations;
    (b) Contacting businesses unconditionally owned by minorities, 
women, and individuals with disabilities to provide information about, 
and technical assistance to participate in, the Finance Board 
contracting process;
    (c) Advertising contracting opportunities with the Finance Board 
through media targeted to reach businesses unconditionally owned by 
minorities, women, and individuals with disabilities;
    (d) Participating, to the extent practicable, in events such as 
conventions, seminars, and professional meetings that are intended 
primarily to promote business opportunities for minorities, women, and 
individuals with disabilities, and businesses unconditionally owned by 
them; and
    (e) Ensuring that Finance Board contracting staff understand and 
promote the outreach program.


Sec.  906.13   How does the Finance Board oversee and monitor the 
outreach program?

    The Chairperson will appoint an Outreach Advocate who will be 
responsible for program advocacy, oversight, and monitoring. In 
addition, the Outreach Advocate will be responsible for providing the 
Finance Board with technical assistance and guidance to facilitate 
identifying and soliciting participation in the contracting process of 
minorities, women, and individuals with disabilities, and businesses 
unconditionally owned by them.

PART 925--MEMBERS OF THE BANKS

0
4. The authority citation for part 925 continues to read as follows:

    Authority: 12 U.S.C. 1422, 1422a, 1422b, 1423, 1424, 1426, 1430, 
and 1442.


Sec. Sec.  925.2, 925.3, 925.5, 925.6, 925.7, 925.8, 925.9, 925.11, 
925.12, 925.13, 925.15, 925.16, 925.17, 925.18, 925.22, and 
925.31  [Amended]

0
5. Amend Sec. Sec.  925.2, 925.3, 925.5, 925.6, 925.7, 925.8, 925.9, 
925.11, 925.12, 925.13, 925.15, 925.16, 925.17, 925.18, 925.22, and 
925.31 by removing the parenthetical ``(The information collection 
requirements contained in this section have been approved by the Office 
of Management and Budget under control number 3069-0004)'' at the end 
of each section.


Sec. Sec.  925.24 and 925.26  [Amended]

0
6. Amend Sec. Sec.  925.24 and 925.26 by removing the parenthetical 
``(The Office of Management and Budget has approved the information 
collection requirements contained in this section and assigned control 
number 3069-0004 with an expiration date of April 30, 2001)'' at the 
end of each section.

PART 926--FEDERAL HOME LOAN BANK HOUSING ASSOCIATES

0
7. The authority citation for part 926 continues to read as follows:

    Authority: 12 U.S.C. 1422b(a) and 1430b.


Sec. Sec.  926.4, 926.5, and 926.6  [Amended]

0
8. Amend Sec. Sec.  926.4, 926.5, and 926.6 by removing the 
parenthetical ``(The Office of Management and Budget has approved the 
information collection requirements contained in this section and 
assigned control number 3069-0005 with an expiration date of November 
30, 2002)'' at the end of each section.

PART 931--FEDERAL HOME LOAN BANK CAPITAL STOCK

0
9. The authority citation for part 931 continues to read as follows:

    Authority: 12 U.S.C. 1422a(a)(3), 1422b(a), 1426, 1440, 1443, 
and 1446.


Sec.  931.3  [Amended]

0
10. Amend Sec.  931.3 by removing the parenthetical ``(The Office of 
Management and Budget has approved the information collection 
requirements contained in this section and assigned control number 
3069-0059 with an expiration date of November 30, 2003)'' at the end of 
the section.


Sec.  931.7  [Amended]

0
11. Amend Sec.  931.7 by removing the parenthetical ``(The Office of 
Management and Budget has approved the information collection 
requirements contained in this section and assigned control number 
3069-0004 with an expiration date of April 30, 2001)'' at the end of 
the section.

PART 933--BANK CAPITAL STRUCTURE PLANS

0
12. The authority citation for part 933 continues to read as follows:

    Authority: 12 U.S.C. 1422a(a)(3), 1422b(a), 1426, 1440, 1443, 
and 1446.


Sec.  933.2  [Amended]

0
13. Amend Sec.  933.2 by removing the parenthetical ``(The Office of 
Management and Budget has approved the information collection 
requirements contained in this section and assigned control number 
3069-0059 with an expiration date of November 30, 2003)'' at the end of 
the section.

PART 944--COMMUNITY SUPPORT REQUIREMENTS

0
14. The authority citation for part 944 continues to read as follows:

    Authority: 12 U.S.C. 1422a(a)(3)(B), 1422b(a)(1), and 1430(g).


Sec. Sec.  944.2, 944.3, 944.4, and 944.5  [Amended]

0
15. Amend Sec. Sec.  944.2, 944.3, 944.4, and 944.5 by removing the 
parenthetical ``(The Office of Management and Budget has approved the 
information collection requirements contained in this section and 
assigned control number 3069-0003 with an expiration date of January 
31, 2003)'' at the end of each section.

PART 950--ADVANCES

0
16. The authority citation for part 950 continues to read as follows:

    Authority: 1422a(a)(3), 1422b(a)(1), 1426, 1429, 1430, 1430b, 
and 1431.


Sec.  950.17  [Amended]

0
17. Amend Sec.  950.17 by removing the parenthetical ``(The Office of 
Management and Budget has approved the information collection 
requirements contained in this section and assigned control number 
3069-0005 with an expiration date of November 30, 2002)'' at the end of 
the section.

PART 951--AFFORDABLE HOUSING PROGRAM

0
18. The authority citation for part 951 continues to read as follows:


[[Page 9511]]


    Authority: 12 U.S.C. 1430(j).


Sec. Sec.  951.1, 951.3, 951.4, 951.6, 951.7, 951.8, 951.10, 951.11, 
951.13,  and 951.15 [Amended]

0
19. Amend Sec. Sec.  951.1, 951.3, 951.4, 951.6, 951.7, 951.8, 951.10, 
951.11, 951.13, and 951.15 by removing the parenthetical ``(The Office 
of Management and Budget has approved the information collection 
requirements contained in this section and assigned control number 
3069-0006 with an expiration date of June 30, 2004)'' at the end of 
each section.

    Dated: February 9, 2005.

    By the Board of Directors of the Federal Housing Finance Board.
Ronald A. Rosenfeld,
Chairman.
[FR Doc. 05-3718 Filed 2-25-05; 8:45 am]
BILLING CODE 6725-01-P