[Federal Register Volume 75, Number 59 (Monday, March 29, 2010)]
[Notices]
[Page 15431]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2010-6912]
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FEDERAL HOUSING FINANCE AGENCY
[No. 2010-N-03]
Proposed Collection; Comment Request
AGENCY: Federal Housing Finance Agency.
ACTION: 60-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 the information collection known as
``Members of the Banks,'' which has been assigned control number 2590-
0003 by the Office of Management and Budget (OMB). FHFA intends to
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
July 31, 2010.
DATES: Interested persons may submit comments on or before May 28,
2010.
ADDRESSES: Submit comments to the FHFA using any one of the following
methods:
E-mail: [email protected]. Please include Proposed
Collection; Comment Request: ``Members of the Banks, (No. 2010-N-03)''
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: ``Members of the Banks,
(No. 2010-N-03).''
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 FHFA at [email protected] to ensure timely receipt by the
agency.
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. In addition,
copies of all comments received will be available for examination by
the public on business days between the hours of 10 a.m. and 3 p.m., at
the Federal Housing Finance Agency, Fourth Floor, 1700 G Street, NW.,
Washington, DC 20552. To make an appointment to inspect comments,
please call the Office of General Counsel at 202-414-6924.
FOR FURTHER INFORMATION CONTACT: Jonathan F. Curtis, Financial Analyst,
Division of Federal Home Loan Bank Regulation, by telephone at 202-408-
2866 (not a toll free number), by e-mail at [email protected],
or by regular mail at the Federal Housing Finance Agency, 1625 Eye
Street, NW., Washington, DC 20006. 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 4 of the Federal Home Loan Bank Act (Bank Act) establishes
the eligibility requirements an institution must meet in order to
become a member of a Federal Home Loan Bank (Bank).\1\ The membership
rule, which implements section 4 of the Bank Act, provides uniform
requirements an applicant for Bank membership must meet and review
criteria a Bank must apply to determine if an applicant satisfies the
statutory and regulatory membership eligibility requirements.\2\
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\1\ 12 U.S.C. 1424.
\2\ 12 CFR part 1263 (former part 925). See 75 FR 678, 690 (Jan.
5, 2010).
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More specifically, the membership rule implements the statutory
eligibility requirements and provides guidance on how an applicant may
satisfy such requirements. The rule authorizes a Bank to approve or
deny each membership application subject to the statutory and
regulatory requirements and permits an applicant to appeal to FHFA a
Bank's decision to deny certification as a Bank member. The rule also
imposes a continuing obligation on a current Bank member to provide
information necessary to determine if it remains in compliance with
applicable statutory and regulatory eligibility requirements.
The information collection is necessary to enable a Bank to
determine whether prospective and current Bank members satisfy the
statutory and regulatory requirements to be certified initially and
maintain their status as members eligible to obtain Bank advances. FHFA
requires and uses the information collection to determine whether to
uphold or overrule a Bank's decision to deny member certification to an
applicant.
The OMB control number for the information collection is 2590-0003,
which is due to expire on July 31, 2010. The likely respondents are
institutions that want to be certified as or are members of a Bank
seeking continued certification.
B. Burden Estimate
FHFA estimates the total annual average number of respondents who
are initial applicants at 212, with 1 response per applicant. The
estimate for the average hours per application is 21.5 hours. The
estimate for the annual hour burden for applicants is 4,558 hours (212
applicants x 1 response per applicant x 21.5 hours per response).
FHFA estimates the total annual average number of maintenance
respondents, i.e., current Bank members, at 8,106, with 1 response per
member. The estimate for the average hours per maintenance response is
0.6 hours. The estimate for the annual hour burden for Bank members is
4,864 hours (8,106 members x 1 response per member x 0.6 hours per
response).
The estimate for the total annual hour burden for all respondents
is 9,422 hours.
C. Comment Request
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 FHFA'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: March 22, 2010.
Edward J. DeMarco,
Acting Director, Federal Housing Finance Agency.
[FR Doc. 2010-6912 Filed 3-26-10; 8:45 am]
BILLING CODE 8070-01-P