[Federal Register Volume 72, Number 17 (Friday, January 26, 2007)]
[Notices]
[Pages 3848-3849]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E7-1267]


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FEDERAL HOUSING FINANCE BOARD

[No. 2007-N-03]


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 the information collection known as 
``Capital Requirements for the Federal Home Loan Banks,'' which has 
been assigned control 3069-0059 by the Office of Management and Budget 
(OMB). The Finance Board intends to submit the information collection 
to OMB for review and approval of a 3 year extension of the control 
number, which is due to expire on February 28, 2007.

DATES: Interested persons may submit comments on or before March 27, 
2007.
    Comments: Submit comments only once by any of the following 
methods:
    E-mail: [email protected].
    Fax: 202-408-2580.
    Mail/Hand Delivery: Federal Housing Finance Board, 1625 Eye 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: Capital Requirements for the Federal Home Loan Banks. 2007-N-
03.
    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/Default.aspx?Page=93&Top=93.

FOR FURTHER INFORMATION CONTACT: Jonathon 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, 1625 Eye Street, NW., 
Washington DC 20006.

SUPPLEMENTARY INFORMATION:

A. Need For and Use of the Information Collection

    Section 6 of the Federal Home Loan Bank Act establishes the capital 
structure for the Federal Home Loan Banks (Banks) and requires the 
Finance Board to issue regulations prescribing uniform capital 
standards applicable to each Bank. 12 U.S.C. 1426. To implement the 
statutory capital structure for the Banks, the Finance Board added 
parts 930, 931, 932, and 933 to its regulations. 12 CFR parts 930, 931, 
932, and 933. Part 930 establishes definitions applicable to risk 
management and the capital regulations; part 931 concerns Bank capital 
stock; part 932 establishes Bank capital requirements; and part 933 
sets forth the requirements for Bank capital structure plans. The 
implementing regulations also include conforming changes to parts 917, 
925, and 956, which concern, respectively, the powers and 
responsibilities of Bank boards of directors and senior management, 
Bank members, and Bank investments. 12 CFR parts 917, 925, and 956.
    The Banks use the information collection contained in the rules 
implementing section 6 to determine the

[[Page 3849]]

amount of capital stock a member must purchase to maintain membership 
in and to obtain services from a Bank. More specifically, sections 
931.3 and 933.2(a) of the Finance Board rules authorize a Bank to offer 
its members several options to satisfy required investments in capital 
stock as activity-based and/or membership stock purchase requirements. 
12 CFR 931.3 and 933.2(a). The information collection is necessary to 
provide the Banks with the flexibility to meet the statutory and 
regulatory capital structure requirements while allowing Bank members 
to choose the option best suited to their business requirements.
    The OMB control number for the information collection is 3069-0059, 
and it is due to expire on February 28, 2007. The likely respondents 
include Banks and Bank members.

B. Burden Estimate

    While the number of member respondents has increased, the burden 
has decreased significantly because the Banks can access most of the 
data required by the information collection electronically from call 
reports the members already must file with their primary regulator. The 
estimate for the total annual hour burden for all member respondents is 
35,100 hours. The estimate for the total annual cost burden is 
$1,509,300. These estimates are based on the following calculations:
    The Finance Board estimates the total annual average number of 
member respondents for activity-based stock purchase requirements at 
5,500, with 4 responses per member. The estimate for the average hours 
per response is 0.65 hours. The estimate for member respondents' annual 
hour burden related to activity-based stock purchase requirements is 
14,300 hours (5,500 activity-based member respondents x 4 responses per 
member x 0.65 hours per response). The estimate for the annual cost 
burden is $614,900 (14,300 hours x $43 hourly rate).
    The Finance Board estimates the total annual average number of 
member respondents for membership stock purchase requirements at 8,000, 
with 4 responses per member. The estimate for the average hours per 
response is 0.65 hours. The estimate for member respondents' annual 
hour burden related to membership stock purchase requirements is 20,800 
hours (8,000 membership investment member respondents x 4 responses per 
member x 0.65 hours per response). The estimate for the annual cost 
burden is $894,400 (20,800 hours x $43 hourly rate).

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 23, 2007.

    By the Federal Housing Finance Board.
Neil R. Crowley,
Deputy General Counsel.
[FR Doc. E7-1267 Filed 1-25-07; 8:45 am]
BILLING CODE 6725-01-P