Submission for OMB Review; Comment Request, 59113-59114 [06-8493]

Download as PDF Federal Register / Vol. 71, No. 194 / Friday, October 6, 2006 / Notices FEDERAL DEPOSIT INSURANCE CORPORATION Sunshine Act Meeting; Notice of Agency Meeting Pursuant to the provisions of the ‘‘Government in the Sunshine Act’’ (5 U.S.C. 552b), notice is hereby given that at 10:30 a.m. on Tuesday, October 10, 2006, the Federal Deposit Insurance Corporation’s Board of Directors will meet in closed session, pursuant to section 552b(c)(2), (c)(4), (c)(6), (c)(8), (c)(9)(A)(ii), (c)(9)(B), and (c)(10) Title 5, United States Code, to consider matters relating to the Corporation’s supervisory and corporate activities. The meeting will be held in the Board Room on the sixth floor of the FDIC Building located at 550-17th Street, NW., Washington, DC. Requests for further information concerning the meeting may be directed to Mr. Robert E. Feldman, Assistant Executive Secretary of the Corporation, at (202) 898–7122. Dated: October 3, 2006. Federal Deposit Insurance Corporation. Robert E. Feldman, Executive Secretary. [FR Doc. 06–8545 Filed 10–3–06; 4:18 pm] BILLING CODE 6714–01–M FEDERAL HOUSING FINANCE BOARD [No. 2006–N–06] Submission for OMB Review; Comment Request AGENCY: Federal Housing Finance Board. ACTION: Notice. SUMMARY: In accordance with the requirements of the Paperwork Reduction Act of 1995, the Federal Housing Finance Board (Finance Board) is submitting the information collection entitled ‘‘Affordable Housing Program (AHP)’’ to the Office of Management and Budget (OMB) for review and approval of a 3 year extension of the OMB control number, 3069–0006, which is due to expire on July 31, 2007. DATES: Interested persons may submit comments on or before November 6, 2006. 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 Board, Washington, DC 20503. FOR FURTHER INFORMATION CONTACT: For further information or copies of the cprice-sewell on PROD1PC66 with NOTICES ADDRESSES: VerDate Aug<31>2005 14:52 Oct 05, 2006 Jkt 211001 information collection contact: Charles E. McLean, Associate Director, mcleanc@fhfb.gov, 202–408–2537, or Deattra D. Perkins, Community Development Specialist, perkinsd@fhfb.gov, 202–408–2527, both of the Supervisory and Regulatory Policy Division of the Office of Supervision. You also can contact staff by regular mail to the Federal Housing Finance Board, 1625 Eye Street, NW., Washington, DC 20006. SUPPLEMENTARY INFORMATION: A. Need For and Use of the Information Collection Section 10(j) of the Federal Home Loan Bank Act (Bank Act) (12 U.S.C. 1430(j)), requires the Finance Board to promulgate regulations under which each of the 12 Federal Home Loan Banks (Banks) must establish an Affordable Housing Program to make subsidized advances to members engaged in lending for long term, lowand moderate-income, owner-occupied and affordable rental housing at subsidized interest rates. See 12 U.S.C. 1430(j). Section 10(j) also establishes the standards and requirements for making subsidized AHP advances to Bank members. Part 951 of the Finance Board regulations implements the statutory requirements and authorizes the Banks to make AHP funding decisions. See 12 CFR part 951. On August 9, 2006, the Board of Directors of the Finance Board moved the AHP data requirements from part 951 into its Data Reporting Manual (DRM). See Resolution Number 2006–13 (available electronically in the Finance Board’s FOIA Reading Room: https:// www.fhfb.gov/Default.aspx?Page=59& ListCategory=9#9). The Banks use AHP data collection contained in the DRM to determine whether an AHP applicant satisfies the statutory and regulatory requirements to receive subsidized advances or direct subsidies under the AHP. The Finance Board uses the information to ensure that Bank funding decisions, and the use of the funds awarded, are consistent with statutory and regulatory requirements. The OMB control number for the information collection is 3069–0006. The OMB clearance for the information collection expires on July 31, 2007. The likely respondents include Bank members and applicants for AHP funding. B. Burden Estimate In April 2005, the Finance Board provided notice in the Federal Register concerning the burden for the seven different facets of the AHP information collection—AHP applications, AHP PO 00000 Frm 00044 Fmt 4703 Sfmt 4703 59113 modification requests, AHP monitoring agreements, AHP recapture agreements, homeownership assistance program applications, verifications of statutory and regulatory compliance at the time of subsidy disbursement, and Bank Advisory Council Reports and recommendations on AHP Implementation Plans. See 70 FR 21411 (April 26, 2005). The 60-day comment period closed on June 27, 2005. The Finance Board received one comment, which supported establishment of consistent data reporting requirements for the AHP. Following publication of the notice, the Finance Board moved the AHP data requirements from part 951 into its DRM and adopted a final rule amending the AHP regulation by removing prescriptive requirements, clarifying certain operational requirements, providing additional discretionary authority in certain areas, removing certain authorities, and otherwise streamlining and reorganizing the regulation. That final rule is published elsewhere in this issue of the Federal Register. These actions have affected the burden estimates for the information collection. The estimate for the total hour burden for applicant and member respondents for all 7 facets of the AHP information collection is 72,113 hours, reflecting an increase of 9,075 hours. The revised burden estimates are discussed below: 1. AHP Applications The Finance Board estimates a total annual average of 2,050 applicants for AHP funding, with 1 response per applicant, and a 24 hour average processing time for each application. The estimate for the total annual hour burden for AHP applications is 49,200 hours (2,050 applicants × 1 application × 24 hours). 2. AHP Modification Requests The Finance Board estimates a total annual average of 150 modification requests, with 1 response per requestor, and a 2.5 hour average processing time for each request. The estimate for the total annual hour burden for AHP modification requests is 375 hours (150 requestors × 1 request × 2.5 hours). 3. AHP Monitoring Agreements The Finance Board estimates a total annual average of 825 AHP monitoring agreements, with 1 agreement per respondent. The estimate for the average hours to implement each AHP monitoring agreement and prepare and review required reports and certifications is 4.5 hours. The estimate for the total annual hour burden for E:\FR\FM\06OCN1.SGM 06OCN1 59114 Federal Register / Vol. 71, No. 194 / Friday, October 6, 2006 / Notices AHP monitoring agreements is 3,713 hours (825 respondents × 1 agreement × 4.5 hours). 4. AHP Recapture Agreements The Finance Board estimates a total annual average of 825 AHP recapture agreements, with 1 agreement per respondent. The estimate for the average hours to prepare and implement an AHP recapture agreement is 1 hour. The estimate for the total annual hour burden for AHP recapture agreements is 825 hours (825 respondents × 1 agreement × 1 hour). 5. Homeownership Assistance Program Applications The Finance Board estimates a total annual average of 8,000 homeownership assistance program applications, with 1 application per respondent, and a 2 hour average processing time for each application. The number of homeownership applications has increased from 2,400 to 8,000 due to demand for downpayment/closing cost assistance by households residing in the United States. The estimate for the total annual hour burden for homeownership assistance program applications is 16,000 hours (8,000 respondents × 1 application × 2 hours). 6. Verification of Statutory and Regulatory Compliance Submissions The Finance Board estimates a total annual average of 2,000 submissions to verify compliance with statutory and regulatory requirements with 1 submission per respondent. The estimate for the average hours to review database records for completeness and accuracy prior to submission and validation is 1 hour. The estimate for the total annual hour burden for verification of compliance submissions is 2,000 hours (2,000 respondents × 1 submission × 1 hour). cprice-sewell on PROD1PC66 with NOTICES 7. Bank Advisory Council Reports and Recommendations on AHP Implementation Plan Member and applicant respondents incur no costs because the Bank Advisory Councils prepare and the Banks and Finance Board review Advisory Council reports and recommendations. C. Comment Request Written comments are requested on: (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 estimates of the burdens of the collection of VerDate Aug<31>2005 14:52 Oct 05, 2006 Jkt 211001 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 applicants and housing associates, including through the use of automated collection techniques or other forms of information technology. Comments may be submitted to OMB in writing at the address listed above. Dated: September 29, 2006. By the Federal Housing Finance Board. Neil R. Crowley, Deputy General Counsel. [FR Doc. 06–8493 Filed 10–5–06; 8:45 am] BILLING CODE 6725–01–P FEDERAL HOUSING FINANCE BOARD Sunshine Act Meeting Notice; Announcing a Partially Open Meeting of the Board of Directors The open meeting of the Board of Directors is scheduled to begin at 10 a.m. on Wednesday, October 11, 2006. The closed portion of the meeting will follow immediately the open portion of the meeting. TIME AND DATE: Board Room, First Floor, Federal Housing Finance Board, 1625 Eye Street, NW., Washington, DC 2006. PLACE: The first portion of the meeting will be open to the public. The final portion of the meeting will be closed to the public. STATUS: MATTERS TO BE CONSIDERED AT THE OPEN PORTION: Appointments to the Financing Corporation (FICO) Directorate. Enhancing Protections for Personally Identifiable Information. Modification of Data Reporting Requirements for the Call Report System. Amendment to the Capital Structure Plan of the Federal Home Loan Bank of Seattle. MATTER TO BE CONSIDERED AT THE CLOSED PORTION: Periodic Update of Examination Program Development and Supervisory Findings. CONTACT PERSON FOR MORE INFORMATION: Sheila Willis, Paralegal Specialist, Office of General Counsel, at 202–408– 2876 or williss@fhfb.gov. Dated: October 4, 2006. By the Federal Housing Finance Board. John P. Kennedy, General Council. [FR Doc. 06–8582 Filed 10–4–06; 3:55 pm] BILLING CODE 6725–01–P PO 00000 Frm 00045 Fmt 4703 Sfmt 4703 FEDERAL RESERVE SYSTEM Change in Bank Control Notices; Acquisition of Shares of Bank or Bank Holding Companies The notificants listed below have applied under the Change in Bank Control Act (12 U.S.C. 1817(j)) and § 225.41 of the Board’s Regulation Y (12 CFR 225.41) to acquire a bank or bank holding company. The factors that are considered in acting on the notices are set forth in paragraph 7 of the Act (12 U.S.C. 1817(j)(7)). The notices are available for immediate inspection at the Federal Reserve Bank indicated. The notices also will be available for inspection at the office of the Board of Governors. Interested persons may express their views in writing to the Reserve Bank indicated for that notice or to the offices of the Board of Governors. Comments must be received not later than October 24, 2006. A. Federal Reserve Bank of Atlanta (Andre Anderson, Vice President) 1000 Peachtree Street, N.E., Atlanta, Georgia 30309: 1.Gloria Bienvenu Callais, Charles Michael Callais, Corey Joseph Calais, Paul Abdon Callais, and Peter Wade Callais, to acquire additional shares of United Community Bancshares, Inc. and thereby indirectly acquire voting shares of United Community Bank, both of Gonzales, Louisina. Board of Governors of the Federal Reserve System, October 3, 2006. Jennifer J. Johnson, Secretary of the Board. [FR Doc. E6–16562 Filed 10–5–06; 8:45 am] BILLING CODE 6210–01–S FEDERAL RESERVE SYSTEM Formations of, Acquisitions by, and Mergers of Bank Holding Companies The companies listed in this notice have applied to the Board for approval, pursuant to the Bank Holding Company Act of 1956 (12 U.S.C. 1841 et seq.) (BHC Act), Regulation Y (12 CFR Part 225), and all other applicable statutes and regulations to become a bank holding company and/or to acquire the assets or the ownership of, control of, or the power to vote shares of a bank or bank holding company and all of the banks and nonbanking companies owned by the bank holding company, including the companies listed below. The applications listed below, as well as other related filings required by the Board, are available for immediate inspection at the Federal Reserve Bank E:\FR\FM\06OCN1.SGM 06OCN1

Agencies

[Federal Register Volume 71, Number 194 (Friday, October 6, 2006)]
[Notices]
[Pages 59113-59114]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 06-8493]


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FEDERAL HOUSING FINANCE BOARD

[No. 2006-N-06]


Submission for OMB Review; Comment Request

AGENCY: Federal Housing Finance Board.

ACTION: Notice.

-----------------------------------------------------------------------

SUMMARY: In accordance with the requirements of the Paperwork Reduction 
Act of 1995, the Federal Housing Finance Board (Finance Board) is 
submitting the information collection entitled ``Affordable Housing 
Program (AHP)'' to the Office of Management and Budget (OMB) for review 
and approval of a 3 year extension of the OMB control number, 3069-
0006, which is due to expire on July 31, 2007.

DATES: Interested persons may submit comments on or before November 6, 
2006.

ADDRESSES: 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 Board, Washington, DC 20503.

FOR FURTHER INFORMATION CONTACT: For further information or copies of 
the information collection contact: Charles E. McLean, Associate 
Director, mcleanc@fhfb.gov, 202-408-2537, or Deattra D. Perkins, 
Community Development Specialist, perkinsd@fhfb.gov, 202-408-2527, both 
of the Supervisory and Regulatory Policy Division of the Office of 
Supervision. You also can contact staff by regular mail to the Federal 
Housing Finance Board, 1625 Eye Street, NW., Washington, DC 20006.

SUPPLEMENTARY INFORMATION:

A. Need For and Use of the Information Collection

    Section 10(j) of the Federal Home Loan Bank Act (Bank Act) (12 
U.S.C. 1430(j)), requires the Finance Board to promulgate regulations 
under which each of the 12 Federal Home Loan Banks (Banks) must 
establish an Affordable Housing Program to make subsidized advances to 
members engaged in lending for long term, low- and moderate-income, 
owner-occupied and affordable rental housing at subsidized interest 
rates. See 12 U.S.C. 1430(j). Section 10(j) also establishes the 
standards and requirements for making subsidized AHP advances to Bank 
members. Part 951 of the Finance Board regulations implements the 
statutory requirements and authorizes the Banks to make AHP funding 
decisions. See 12 CFR part 951.
    On August 9, 2006, the Board of Directors of the Finance Board 
moved the AHP data requirements from part 951 into its Data Reporting 
Manual (DRM). See Resolution Number 2006-13 (available electronically 
in the Finance Board's FOIA Reading Room: https://www.fhfb.gov/
Default.aspx?Page=59&ListCategory=9#9). The Banks 
use AHP data collection contained in the DRM to determine whether an 
AHP applicant satisfies the statutory and regulatory requirements to 
receive subsidized advances or direct subsidies under the AHP. The 
Finance Board uses the information to ensure that Bank funding 
decisions, and the use of the funds awarded, are consistent with 
statutory and regulatory requirements.
    The OMB control number for the information collection is 3069-0006. 
The OMB clearance for the information collection expires on July 31, 
2007. The likely respondents include Bank members and applicants for 
AHP funding.

B. Burden Estimate

    In April 2005, the Finance Board provided notice in the Federal 
Register concerning the burden for the seven different facets of the 
AHP information collection--AHP applications, AHP modification 
requests, AHP monitoring agreements, AHP recapture agreements, 
homeownership assistance program applications, verifications of 
statutory and regulatory compliance at the time of subsidy 
disbursement, and Bank Advisory Council Reports and recommendations on 
AHP Implementation Plans. See 70 FR 21411 (April 26, 2005). The 60-day 
comment period closed on June 27, 2005. The Finance Board received one 
comment, which supported establishment of consistent data reporting 
requirements for the AHP.
    Following publication of the notice, the Finance Board moved the 
AHP data requirements from part 951 into its DRM and adopted a final 
rule amending the AHP regulation by removing prescriptive requirements, 
clarifying certain operational requirements, providing additional 
discretionary authority in certain areas, removing certain authorities, 
and otherwise streamlining and reorganizing the regulation. That final 
rule is published elsewhere in this issue of the Federal Register. 
These actions have affected the burden estimates for the information 
collection. The estimate for the total hour burden for applicant and 
member respondents for all 7 facets of the AHP information collection 
is 72,113 hours, reflecting an increase of 9,075 hours. The revised 
burden estimates are discussed below:

1. AHP Applications

    The Finance Board estimates a total annual average of 2,050 
applicants for AHP funding, with 1 response per applicant, and a 24 
hour average processing time for each application. The estimate for the 
total annual hour burden for AHP applications is 49,200 hours (2,050 
applicants x 1 application x 24 hours).

2. AHP Modification Requests

    The Finance Board estimates a total annual average of 150 
modification requests, with 1 response per requestor, and a 2.5 hour 
average processing time for each request. The estimate for the total 
annual hour burden for AHP modification requests is 375 hours (150 
requestors x 1 request x 2.5 hours).

3. AHP Monitoring Agreements

    The Finance Board estimates a total annual average of 825 AHP 
monitoring agreements, with 1 agreement per respondent. The estimate 
for the average hours to implement each AHP monitoring agreement and 
prepare and review required reports and certifications is 4.5 hours. 
The estimate for the total annual hour burden for

[[Page 59114]]

AHP monitoring agreements is 3,713 hours (825 respondents x 1 agreement 
x 4.5 hours).

4. AHP Recapture Agreements

    The Finance Board estimates a total annual average of 825 AHP 
recapture agreements, with 1 agreement per respondent. The estimate for 
the average hours to prepare and implement an AHP recapture agreement 
is 1 hour. The estimate for the total annual hour burden for AHP 
recapture agreements is 825 hours (825 respondents x 1 agreement x 1 
hour).

5. Homeownership Assistance Program Applications

    The Finance Board estimates a total annual average of 8,000 
homeownership assistance program applications, with 1 application per 
respondent, and a 2 hour average processing time for each application. 
The number of homeownership applications has increased from 2,400 to 
8,000 due to demand for downpayment/closing cost assistance by 
households residing in the United States. The estimate for the total 
annual hour burden for homeownership assistance program applications is 
16,000 hours (8,000 respondents x 1 application x 2 hours).

6. Verification of Statutory and Regulatory Compliance Submissions

    The Finance Board estimates a total annual average of 2,000 
submissions to verify compliance with statutory and regulatory 
requirements with 1 submission per respondent. The estimate for the 
average hours to review database records for completeness and accuracy 
prior to submission and validation is 1 hour. The estimate for the 
total annual hour burden for verification of compliance submissions is 
2,000 hours (2,000 respondents x 1 submission x 1 hour).

7. Bank Advisory Council Reports and Recommendations on AHP 
Implementation Plan

    Member and applicant respondents incur no costs because the Bank 
Advisory Councils prepare and the Banks and Finance Board review 
Advisory Council reports and recommendations.

C. Comment Request

    Written comments are requested on: (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 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 applicants and housing 
associates, including through the use of automated collection 
techniques or other forms of information technology. Comments may be 
submitted to OMB in writing at the address listed above.

    Dated: September 29, 2006.

    By the Federal Housing Finance Board.
Neil R. Crowley,
Deputy General Counsel.
[FR Doc. 06-8493 Filed 10-5-06; 8:45 am]
BILLING CODE 6725-01-P
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