[Federal Register Volume 75, Number 59 (Monday, March 29, 2010)]
[Notices]
[Pages 15431-15432]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2010-6964]


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FEDERAL HOUSING FINANCE AGENCY

[No. 2010-N-02]


Proposed Collection; Comment Request

AGENCY: Federal Housing Finance Agency.

[[Page 15432]]


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 
``Capital Requirements for the Federal Home Loan Banks,'' which has 
been assigned control number 2590-0002 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 FHFA using any one of the following 
methods:
     E-mail: [email protected]. Please include Proposed 
Collection; Comment Request: ``Capital Requirements for the Federal 
Home Loan Banks, (No. 2010-N-02)'' 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: ``Capital Requirements 
for the Federal Home Loan Banks, (No. 2010-N-02).''
     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 6 of the Federal Home Loan Bank Act (Bank Act) establishes 
the capital structure for the Federal Home Loan Banks (Banks) and 
requires FHFA to issue regulations prescribing uniform capital 
standards applicable to each Bank.\1\ Parts 930, 931, 932, and 933 of 
title 12, Code of Federal Regulations implement the statutory capital 
structure for the Banks. 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 
provisions of part 931 provide that a Bank must require its members to 
maintain a minimum investment in the capital stock of the Bank as a 
condition to becoming and remaining a member of the Bank and as a 
condition to transacting business with the Bank or obtaining advances 
from the Bank. The amount of the required minimum investment is 
determined in accordance with the Bank's capital plan under part 933.
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    \1\ 12 U.S.C. 1426.
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    The Banks use the information collection to determine the amount of 
capital stock a member must purchase to maintain membership in and to 
obtain services from a Bank. More specifically, the provisions of 
Sec. Sec.  931.3 and 933.2(a) authorize a Bank to offer its members 
several options to satisfy a membership investment in capital stock and 
an activity-based stock purchase requirement. 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 number for the information collection is 2590-0002. The OMB 
clearance for the information collection expires on July 31, 2010. The 
likely respondents include Banks and Bank members.

B. Burden Estimate

    FHFA estimates the total annual average number of activity-based 
stock purchase requirement respondents at 5,813, with 4 responses per 
respondent. The estimate for the average hours per response is 20 
hours. The estimate for the annual hour burden for activity-based stock 
purchase requirement respondents is 465,040 hours (5,813 activity-based 
respondents x 4 responses per respondent x 20 hours per response).
    FHFA estimates the total annual average number of membership 
investment in capital stock respondents at 8,106, with 4 responses per 
respondent. The estimate for the average hours per response is 10 
hours. The estimate for the annual hour burden for membership 
investment in capital stock respondents is 324,240 hours (8,106 
membership investment respondents x 4 responses per respondent x 10 
hours per response).
    The estimate for the total annual hour burden for all respondents 
is 789,280 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. 2010-6964 Filed 3-26-10; 8:45 am]
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