[Federal Register Volume 74, Number 158 (Tuesday, August 18, 2009)]
[Notices]
[Pages 41700-41701]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E9-19776]


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FEDERAL HOUSING FINANCE AGENCY

[No. 2009-N-11]


Proposed Collection; Comment Request

AGENCY: Federal Housing Finance Agency.

ACTION: 30-day Notice of Submission of Information Collection for 
Approval from the Office of Management and Budget.

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SUMMARY: In accordance with the requirements of the Paperwork Reduction 
Act of 1995, the Federal Housing Finance Agency (FHFA) is seeking 
public comments concerning a currently approved information collection 
known as ``Community Support Requirements,'' which has been assigned 
control number 2590-0005 by the Office of Management and Budget (OMB). 
Today FHFA will submit the information collection to OMB for review and 
approval of a three year extension of the control number, which is due 
to expire on September 30, 2009.

DATES: Interested persons may submit comments on or before September 
17, 2009.
    Comments: 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 Agency, Washington, DC 
20503, Fax: 202-395-6974, E-mail address: [email protected]. 
Please also submit them to FHFA using any one of the following methods:
     E-mail: [email protected]. Please include Proposed 
Collection; Comment Request: Community Support Requirements (No. 2009-
N-11) in the subject line of the message.
     Mail/Hand Delivery: Federal Housing Finance Agency, Fourth 
Floor, 1700 G Street, NW., Washington, DC 20552, Attention: Public 
Comments/Proposed Collection; Comment Request: ``Community Support 
Requirements,'' (No. 2009-N-11).
     Federal eRulemaking Portal: http://www.regulations.gov. 
Follow the instructions for submitting comments.
    We will post all public comments we receive without change, 
including any personal information you provide, such as your name and 
address, on the FHFA Web site at http://www.fhfa.gov. Send requests for 
copies of the Community Support Statement Form and supporting 
documentation to the contact referenced in the FOR FURTHER INFORMATION 
CONTACT section.

FOR FURTHER INFORMATION CONTACT: R. Reginald Ellison, Senior Program 
Analyst, 202-408-2968 (not a toll-free number), 
[email protected]. The telephone number for the 
Telecommunications Device for the Deaf is 800-877-8339.

SUPPLEMENTARY INFORMATION: 

A. Need For and Use of the Information Collection

    Section 10(g)(1) of the Federal Home Loan Bank Act (Bank Act) 
requires the FHFA to promulgate regulations establishing standards of 
community investment or service that Federal Home Loan Bank (Bank) 
members must meet in order to maintain access to long-term advances. 
See 12 U.S.C. 1430(g)(1). In establishing these community support 
requirements for Bank members, the FHFA must take into account factors 
such as the Bank member's performance under the Community Reinvestment 
Act

[[Page 41701]]

of 1977 (CRA), 12 U.S.C. 2901, et seq., and record of lending to first-
time homebuyers. 12 U.S.C. 1430(g)(2). 12 CFR part 944 implements 
section 10(g) of the Bank Act. See 12 CFR part 944. The rule provides 
uniform community support standards all Bank members must meet and 
review criteria FHFA staff must apply to determine compliance with 
section 10(g). More specifically, Sec.  944.2 of the rule (12 CFR 
944.2) implements the statutory community support requirement and 
requires each member selected for review to submit a completed 
Community Support Statement Form to the FHFA. The community support 
standards for the two statutory factors are found in Sec.  944.3 (12 
CFR 944.3)--CRA and first-time homebuyer performance--this provision 
also provides guidance to a respondent on how it may satisfy the 
standards . The procedures and criteria FHFA uses in determining 
whether Bank members satisfy the statutory and regulatory community 
support requirements are found in Sec. Sec.  944.4 and 944.5 (12 CFR 
944.4 through 944.5)
    The information collection contained in the Community Support 
Statement Form and Sec. Sec.  944.2 through 944.5 of the rule are 
necessary to enable and are used by the FHFA to determine whether Bank 
members satisfy the statutory and regulatory community support 
requirements. Only Bank members that meet these requirements may 
maintain continued access to long-term Bank advances. See 12 U.S.C. 
1430(g).
    The OMB number for the information collection is 2590-0005. The OMB 
clearance for the information collection expires on September 30, 2009. 
The likely respondents are institutions that are Bank members.

B. Burden Estimate

    The FHFA estimates the total annual average number of respondents 
at 4100 Bank members, with 1 response per member. The estimate for the 
average hours per response is one hour. The estimate for the total 
annual hour burden is 4100 hours (4100 members x 1 response per member 
x 1 hour).

C. Comment Request

    The FHFA requests written comments on the following: (1) Whether 
the collection of information is necessary for the proper performance 
of FHFA functions, including whether the information has practical 
utility; (2) The accuracy of the FHFA 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, including through the use of 
automated collection techniques or other forms of information 
technology.

    Dated: August 13, 2009.
James B. Lockhart III,
Director, Federal Housing Finance Agency.
[FR Doc. E9-19776 Filed 8-17-09; 8:45 am]
BILLING CODE 8070-01-P