[Federal Register Volume 75, Number 118 (Monday, June 21, 2010)]
[Notices]
[Pages 35028-35030]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2010-14912]


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FEDERAL HOUSING FINANCE AGENCY

[No. 2010-N-07]


Privacy Act of 1974; System of Records

AGENCY: Federal Housing Finance Agency.

ACTION: Notice of the establishment of a new system of records.

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SUMMARY: The Federal Housing Finance Agency (FHFA) is revising the 
proposed system of records notice that was published in the Federal 
Register May 10, 2010, at 75 FR 25856. The system of records is 
``Compensation Information Provided by the Regulated Entities'' (FHFA-
4), which will contain compensation-related information on entities 
regulated by FHFA.

DATES: This system of records will become effective on June 21, 2010.

FOR FURTHER INFORMATION CONTACT: John Major, Privacy Act Officer, 
[email protected], 202-408-2849; or David A. Lee, Senior Agency 
Official for Privacy, [email protected], 202-408-2514 (not toll-free 
numbers), Federal Housing Finance Agency, 1700 G Street NW., Fourth 
Floor, Washington, DC 20552. The telephone number for the 
Telecommunications Device for the Deaf is 800-877-8339.

SUPPLEMENTARY INFORMATION: 
    This notice informs the public of FHFA's system of records called 
``Compensation Information Provided by the Regulated Entities'' (FHFA-
4),

[[Page 35029]]

which will contain compensation-related information on entities 
regulated by FHFA, namely, the Federal Home Loan Banks, the Federal 
Home Loan Mortgage Corporation, and the Federal National Mortgage 
Association. This system of records notice will replace the proposed 
system of records notice published in the Federal Register on May 10, 
2010, at 75 FR 25856. The information in the system of records is 
needed for FHFA staff members to make and support determinations 
relating to compensation consistent with the safety and soundness 
responsibilities of FHFA.
    FHFA issued a proposed system of records notice in the Federal 
Register on May 10, 2010, at 75 FR 25856. FHFA received one public 
comment. The commenter requested that FHFA define the term 
``executive'' as the term ``executive officer'' will be defined in 
FHFA's forthcoming final rule on executive compensation. FHFA has 
determined that a definition of the term is not necessary in this 
system of records notice. In addition, FHFA has deleted the reference 
to ``employees'' in the category of individuals covered by the system.
    This notice satisfies the Privacy Act requirement that an agency 
publish a system of records notice in the Federal Register when there 
is an addition to the agency's system of records. It has been 
recognized by Congress that application of all requirements of the 
Privacy Act to certain categories of records may have an undesirable 
and often unacceptable effect upon agencies in the conduct of necessary 
public business. Consequently, Congress established general exemptions 
and specific exemptions that could be used to exempt records from 
provisions of the Privacy Act. Congress also required that exempting 
records from provisions of the Privacy Act would require the head of an 
agency to publish a determination to exempt a record from the Privacy 
Act as a rule in accordance with the Administrative Procedures Act. The 
Director of FHFA has determined that records and information in this 
new system of records is not exempt from requirements of the Privacy 
Act.
    As required by the Privacy Act, 5 U.S.C. 552a(r), and pursuant to 
paragraph 4c of Appendix I to OMB Circular No. A-130, ``Federal Agency 
Responsibilities for Maintaining Records About Individuals,'' dated 
February 8, 1996 (February 20, 1996; 61 FR 6427, 35), FHFA has 
submitted a report describing the new system of records covered by this 
notice, to the Committee on Government Operations of the House of 
Representatives, the Committee on Governmental Affairs of the Senate, 
and the Office of Management and Budget.
    The system of records is set forth in its entirety below.

    Dated: June 15, 2010.
Edward J. DeMarco,
Acting Director, Federal Housing Finance Agency.
FHFA-4

system name:
    Compensation Information Provided by the Regulated Entities.

security classification:
    Unclassified but sensitive.

system location:
    Federal Housing Finance Agency, 1700 G Street, NW., Washington, DC 
20552 and 1625 Eye Street, NW., Washington, DC 20006.

categories of individuals covered by the system:
    Present and former directors and executives of the Federal Home 
Loan Banks, the Federal Home Loan Mortgage Corporation, and the Federal 
National Mortgage Association (collectively, ``regulated entities'').

categories of records in the system:
    Records contain information such as name, position, organization, 
address, education, professional credentials, work history, 
compensation data, and employment information of present and former 
directors and executives of the regulated entities.

authority for maintenance of the system:
    The system is established and maintained pursuant to 12 U.S.C. 
1427, 1452(h), 4502(6), 4502(12), 4513, 4514, 4517, 4518, 4526, 4617, 
4631, 4632, 4636, and 1723a(d).

purpose(s):
    The information in this system of records will be analyzed and 
evaluated by FHFA staff members in carrying out the statutory 
authorities of the Director with respect to the oversight of 
compensation provided by the regulated entities, consistent with the 
safety and soundness responsibilities of FHFA under the Federal Housing 
Enterprises Financial Safety and Soundness Act of 1992, as amended, and 
the Federal Home Loan Bank Act, as amended.

routine uses of records maintained in the system, including categories 
of users and the purposes of such uses:
    It shall be a routine use to disclose information contained in this 
system for the purposes and to the users identified below:
    1. FHFA personnel authorized as having a need to access the records 
in performance of their official functions.
    2. Another Federal agency if the records are relevant and necessary 
to carry out that agency's authorized functions and consistent with the 
purpose of the system.
    3. A consultant, person, or entity that contracts or subcontracts 
with FHFA, to the extent necessary for the performance of the contract 
or subcontract and consistent with the purpose of the system, provided 
that the person or entity acknowledges in writing that it is required 
to maintain Privacy Act safeguards for the information.

Disclosure to Consumer Reporting Agencies:
    None.

policies and practice for storing, retrieving, accessing, retaining and 
disposing of records in the system:
Storage:
    Records in this system are stored in paper and electronic format.

Retrievability:
    Records can be retrieved by last name, first name, organization, 
and position.

Safeguards:
    Records are maintained in controlled access areas. Electronic 
records are protected by restricted access procedures, including user 
identifications and passwords. Only FHFA staff members whose official 
duties require access are allowed to view, administer, and control 
these records.

Retention and Disposal:
    Records are maintained in accordance with National Archives and 
Records Administration and FHFA retention schedules. Records are 
disposed of according to accepted techniques.

System Manager(s) and Address:
    Office of Policy, Analysis and Research and the Division of Bank 
Regulation, Federal Housing Finance Agency, 1700 G Street, NW., 
Washington, DC 20552.

Notification Procedures:
    Direct inquiries as to whether this system contains a record 
pertaining to an individual to the Privacy Act Officer by electronic 
mail, regular mail, or fax. The electronic mail address is 
[email protected]. The regular mail address is: Privacy Act Officer, 
Federal Housing Finance Agency, 1625 Eye Street, NW., Washington, DC 
20006. The fax number is 202-408-2580. For the quickest possible 
handling, you should

[[Page 35030]]

mark your electronic mail, letter, or fax and the subject line, 
envelope, or fax cover sheet ``Privacy Act Request'' in accordance with 
the procedures set forth in 12 CFR part 1204.

Record Access Procedures:
    Direct requests to access, amend, or correct a record to the 
Privacy Act Officer, Federal Housing Finance Agency, 1625 Eye Street, 
NW., Washington, DC 20006, in accordance with the procedures set forth 
in 12 CFR part 1204.

Contesting Record Procedures:
    Direct requests to contest or appeal an adverse determination for a 
record to the Privacy Act Appeals Officer, Federal Housing Finance 
Agency, 1700 G Street, NW., Washington, DC 20552, in accordance with 
the procedures set forth in 12 CFR part 1204.

Record Source Categories:
    The information is obtained from the regulated entities.

Exemptions Claimed for the System:
    Some information in this system that is investigatory and compiled 
for law enforcement purposes is exempt under subsection 552a(k)(2) of 
the Privacy Act to the extent that information within the system meets 
the criteria of that subsection of the Privacy Act. The exemption is 
necessary in order to protect information relating to law enforcement 
investigations and interference with investigatory and law enforcement 
activities. The exemption will preclude subjects of investigations from 
frustrating investigations, will avoid disclosure of investigative 
techniques, will protect the identities and safety of confidential 
informants and of law enforcement personnel, will ensure FHFA's ability 
to obtain information from various sources, will protect the privacy of 
third-parties, and will safeguard sensitive information.
    Some information contained in this system of records may be 
proprietary to other Federal agencies and subject to exemptions imposed 
by those agencies, including the criminal law enforcement investigatory 
material exemption of 5 U.S.C. 552a(j)(2).

[FR Doc. 2010-14912 Filed 6-18-10; 8:45 am]
BILLING CODE 8070-01-P