Submission for OMB Review; Comment Request, 64628-64645 [07-5715]

Download as PDF 64628 Federal Register / Vol. 72, No. 221 / Friday, November 16, 2007 / Notices FOR FURTHER INFORMATION CONTACT: FEDERAL COMMUNICATIONS COMMISSION Office of the Secretary, 811 Vermont Avenue, NW., Washington, DC 20571 (Tel. No. 202–565–3957). [Report No. 2839] Howard A. Schweitzer, General Counsel. [FR Doc. 07–5733 Filed 11–14–07; 12:38 pm] Petitions for Reconsideration of Action in Rulemaking Proceeding BILLING CODE 6690–01–M Petitions for Reconsideration have been filed in the Commission’s Rulemaking proceeding listed in this Public Notice and published pursuant to 47 CFR 1.429(e). The full text of these documents are available for viewing and copying in Room CY–B402, 445 12th Street, SW., Washington, DC or may be purchased from the Commission’s copy contractor, Best Copy and Printing, Inc. (BCPI) (1–800–378–3160). Oppositions to these petitions must be filed by December 3, 2007. See Section 1.4(b)(1) of the Commission’s rules (47 CFR 1.4(b)(1). Replies to oppositions must be filed within 10 days after the time for filing oppositions have expired. Subject: In the Matter of Amendment of Section 73.202(b), Table of Allotments, FM Broadcast Stations (Fishers, Lawrence, Indianapolis and Clinton, Indiana) (MB Docket No. 05– 67). Number of Petitions Filed: 1. Subject: In the Matter of Amendment of Section 73.202(b), Table of Allotments, FM Broadcast Stations (Corona de Tucson, Sierra Vista, Tanque Verde and Vail, Arizona; Animas, Lordsburg and Virden, New Mexico) (MB Docket No. 05–245). Number of Petitions Filed: 1. FEDERAL COMMUNICATIONS COMMISSION [Report No. 2840] Petitions for Reconsideration and Clarification of Action in Rulemaking Proceeding November 6, 2007. Additional Petitions for Reconsideration and Clarification have been filed in the Commission’s Rulemaking proceeding listed in this Public Notice and published pursuant to 47 CFR 1.429(e). (See Report No. 2836, released October 15, 2007 in the 87–268 Docket. This Report No. 2840 constitutes the second Public Notice; the first was published in the Federal Register on October 22, 2007. The pleading cycle for the Petitions listed in Report 2836 required Oppositions to be filed by November 6 and Replies to be filed by November 16.) The full text of these documents are available for viewing and copying in Room CY–B402, 445 12th Street, SW., Washington, DC or may be purchased from the Commission’s copy contractor, Best Copy and Printing, Inc. (BCPI) (1–800– 378–3160). Oppositions to these petitions must be filed by December 3, 2007. See Section 1.4(b)(1) of the Commission’s rules (47 CFR 1.4(b)(1)). Replies to oppositions must be filed within 10 days after the time for filing oppositions have expired. Subject: In the Matter of Advanced Television Systems and Their Impact Upon the Existing Television Broadcast Service (MB Docket No. 87–268). Number of Petitions Filed: 90. mstockstill on PROD1PC66 with NOTICES Marlene H. Dortch, Secretary. [FR Doc. E7–22522 Filed 11–15–07; 8:45 am] BILLING CODE 6712–01–P VerDate Aug<31>2005 21:48 Nov 15, 2007 Jkt 214001 November 5, 2007. Marlene H. Dortch, Secretary. [FR Doc. E7–22523 Filed 11–15–07; 8:45 am] BILLING CODE 6712–01–P FEDERAL HOUSING FINANCE BOARD [No. 2007–N–13] Submission for OMB Review; Comment Request AGENCY: Federal Housing Finance Board. ACTION: Notice. SUMMARY: In accordance with the Paperwork Reduction Act of 1995, the Federal Housing Finance Board (Finance Board) is submitting the information collection entitled ‘‘Federal Home Loan Bank Directors’’ to the Office of Management and Budget (OMB) for review and approval of a three-year extension of the OMB control number, 3069–0002, which is due to expire on November 30, 2007. PO 00000 Frm 00055 Fmt 4703 Sfmt 4703 Interested persons may submit written comments on or before December 17, 2007. 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. DATES: FOR FURTHER INFORMATION OR COPIES OF THE COLLECTION CONTACT: Patricia L. Sweeney, Program Analyst, Office of Supervision, by electronic mail at sweeneyp@fhfb.gov, by telephone at 202–408–2872, or by regular mail to the Federal Housing Finance Board, 1625 Eye Street, NW., Washington, DC 20006. SUPPLEMENTARY INFORMATION: A. Need for and Use of Information Collection Section 7 of the Federal Home Loan Bank Act (Bank Act) (12 U.S.C. 1427) and the Finance Board’s implementing regulation, codified at 12 CFR part 915, establish the eligibility requirements and the procedures for electing and appointing Federal Home Loan Bank (Bank) directors. Under part 915, the Banks determine the eligibility of elective directors and director nominees and run the annual director election process. To determine eligibility, the Banks use the Federal Home Loan Bank Elective Director Eligibility Certification Form, which has not changed since the information collection was last cleared in 2004. A copy of the Form is attached to this Notice. In 2007, the Finance Board published two rules affecting the eligibility and selection of appointive Bank directors. The first rule, published in April 2007, requires the boards of directors of the Banks to submit to the Finance Board a list of individuals that includes information regarding each individual’s eligibility and qualifications to serve as a Bank director. The Finance Board uses the list provided by each Bank to select well-qualified individuals to serve on the Bank’s board of directors. See 72 FR 15600 (Apr. 2, 2007). The second rule, published in June 2007, clarifies the types of financial interests an appointive Bank director may maintain in a member of the Bank on whose board the director serves. See 72 FR 33637 (June 19, 2007). As a result of these regulatory changes, the Finance Board has revised the form the Banks and the Finance Board use to determine whether prospective appointive directors satisfy the statutory and regulatory eligibility requirements and renamed it the Federal Home Loan Bank Appointive Director Application Form (Application Form). The revised E:\FR\FM\16NON1.SGM 16NON1 Federal Register / Vol. 72, No. 221 / Friday, November 16, 2007 / Notices Application Form asks individuals for information about their background and qualifications to serve as an appointive Bank director as well as compliance with statutory eligibility requirements. It also conforms the information about prohibited financial interests to the new rule. In addition, to reduce the burden on incumbent appointive directors, the Finance Board has created a new Federal Home Loan Bank Appointive Bank Director Annual Certification Form (Annual Form) that allows individuals simply to certify that they continue to meet the director eligibility requirements. Copies of both Appointive Director Forms are attached to this Notice. The likely respondents include Banks, Bank members, and prospective and incumbent Bank directors. The OMB number for the information collection is 3069–0002. The OMB clearance for the information collection expires on November 30, 2007. B. Burden Estimate The Finance Board estimates the total number of respondents is 4,351, which includes 12 Banks, 4,000 Bank members, and 339 prospective and incumbent Bank directors. As explained below, the Finance Board estimates that the total annual hour burden for all respondents is 4580.5 hours. 1. Elections and Elective Directors a. Banks The Finance Board estimates the total annual hour burden for each Bank to conduct the election of directors and to process Elective Director Eligibility Certification Forms is 235 hours. The estimate for the average hour burden for all Banks is 2,820 hours (12 Banks × 235 hours = 2,820 hours). b. Members mstockstill on PROD1PC66 with NOTICES The Finance Board estimates the total annual average hour burden for all Bank members to participate in the election process is 1,075 hours. This includes the time necessary to consider elective director candidates and to cast votes. The Finance Board estimates that Bank members will consider 300 elective director candidates annually for a total of 75 hours (300 individuals × 15 minutes = 75 hours). The Finance Board estimates the total annual average hour burden for a Bank member to vote in the VerDate Aug<31>2005 21:48 Nov 15, 2007 Jkt 214001 director election is 15 minutes for a total of 1,000 hours (4,000 voting members × 15 minutes = 1,000 hours). c. Prospective and Incumbent Elective Directors The Finance Board estimates the total annual average hour burden for all prospective and incumbent elective directors is 70 hours. This includes a total annual average of 100 prospective elective directors (out of the 300 individuals the Banks consider), with 1 response per individual taking an average of 30 minutes (100 individuals × 30 minutes = 50 hours). It also includes a total annual average of 80 incumbent elective directors, with 1 response per individual taking an average of 15 minutes (80 individuals × 15 minutes = 20 hours). 2. Appointive Directors a. Banks The Finance Board estimates the total annual average hour burden for each Bank to recruit, review, and recommend individuals to be appointed as Bank directors is 28 hours. In a typical year, no Bank should have more than three vacant appointive directorships. The estimate for the average hour burden for all Banks is 336 hours (12 Banks × 28 hours = 336 hours). b. Prospective and Incumbent Appointive Directors The Finance Board estimates the total annual average hour burden for all prospective and incumbent appointive directors is 279.5 hours. This includes a total annual average of 84 prospective appointive directors with 1 response per individual taking an average of 3 hours (84 individuals × 3 hours = 252 hours). It also includes a total annual average of 55 incumbent appointive directors, with 1 response per individual taking an average of 30 minutes (55 individuals × 30 minutes = 27.5 hours). C. Comment Request In accordance with the requirements of 5 CFR 1320.8(d), the Finance Board published a request for public comments regarding this information collection in the Federal Register on August 8, 2007. See 72 FR 44540 (Aug. 8, 2007). The 60-day comment period closed on October 9, 2007. The Finance Board received two public comments, one from a trade PO 00000 Frm 00056 Fmt 4703 Sfmt 4703 64629 association that represents community banks and one from a Bank. The trade association supported the use of the new and revised Appointive Director Forms, believing that the Application Form will elicit valuable information about applicant’s skills and the Annual Form will reduce the reporting burden on incumbent directors. The Bank suggested several changes, which the Finance Board has adopted, to the Appointive Director Forms to clarify the information an individual must provide. The Finance Board has clarified the instructions on the Annual Form to make clear that prohibited relationships between a director and a Bank or any member of the director’s Bank, also apply to such relationships with the director’s spouse or minor children. See 12 CFR 915.10(e)(6). On the Application Form, the Finance Board has made clear that an appointive director may not serve as an officer of any Bank and that the provisions on a director’s contractual rights to the payment of money apply also to the director’s spouse. See 12 U.S.C. 1427(a); 12 CFR 915.10(e)(6). The Finance Board also deleted the reference to interests held through a trust or other similar arrangement from the definition of ‘‘indirect’’ since this type of financial interest does not disqualify an individual from being appointed as a Bank director. The Finance Board requests written comments on the following: (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’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. Comments should be submitted to OMB in writing at the address listed above. Dated: November 9, 2007. By the Federal Housing Finance Board. Neil R. Crowley, Acting General Counsel. BILLING CODE 6725–01–P E:\FR\FM\16NON1.SGM 16NON1 VerDate Aug<31>2005 Federal Register / Vol. 72, No. 221 / Friday, November 16, 2007 / Notices 21:48 Nov 15, 2007 Jkt 214001 PO 00000 Frm 00057 Fmt 4703 Sfmt 4725 E:\FR\FM\16NON1.SGM 16NON1 EN16NO07.040</GPH> mstockstill on PROD1PC66 with NOTICES 64630 VerDate Aug<31>2005 21:48 Nov 15, 2007 Jkt 214001 PO 00000 Frm 00058 Fmt 4703 Sfmt 4725 E:\FR\FM\16NON1.SGM 16NON1 64631 EN16NO07.041</GPH> mstockstill on PROD1PC66 with NOTICES Federal Register / Vol. 72, No. 221 / Friday, November 16, 2007 / Notices VerDate Aug<31>2005 Federal Register / Vol. 72, No. 221 / Friday, November 16, 2007 / Notices 21:48 Nov 15, 2007 Jkt 214001 PO 00000 Frm 00059 Fmt 4703 Sfmt 4725 E:\FR\FM\16NON1.SGM 16NON1 EN16NO07.042</GPH> mstockstill on PROD1PC66 with NOTICES 64632 VerDate Aug<31>2005 21:48 Nov 15, 2007 Jkt 214001 PO 00000 Frm 00060 Fmt 4703 Sfmt 4725 E:\FR\FM\16NON1.SGM 16NON1 64633 EN16NO07.043</GPH> mstockstill on PROD1PC66 with NOTICES Federal Register / Vol. 72, No. 221 / Friday, November 16, 2007 / Notices VerDate Aug<31>2005 Federal Register / Vol. 72, No. 221 / Friday, November 16, 2007 / Notices 21:48 Nov 15, 2007 Jkt 214001 PO 00000 Frm 00061 Fmt 4703 Sfmt 4725 E:\FR\FM\16NON1.SGM 16NON1 EN16NO07.044</GPH> mstockstill on PROD1PC66 with NOTICES 64634 VerDate Aug<31>2005 21:48 Nov 15, 2007 Jkt 214001 PO 00000 Frm 00062 Fmt 4703 Sfmt 4725 E:\FR\FM\16NON1.SGM 16NON1 64635 EN16NO07.045</GPH> mstockstill on PROD1PC66 with NOTICES Federal Register / Vol. 72, No. 221 / Friday, November 16, 2007 / Notices VerDate Aug<31>2005 Federal Register / Vol. 72, No. 221 / Friday, November 16, 2007 / Notices 21:48 Nov 15, 2007 Jkt 214001 PO 00000 Frm 00063 Fmt 4703 Sfmt 4725 E:\FR\FM\16NON1.SGM 16NON1 EN16NO07.046</GPH> mstockstill on PROD1PC66 with NOTICES 64636 VerDate Aug<31>2005 21:48 Nov 15, 2007 Jkt 214001 PO 00000 Frm 00064 Fmt 4703 Sfmt 4725 E:\FR\FM\16NON1.SGM 16NON1 64637 EN16NO07.047</GPH> mstockstill on PROD1PC66 with NOTICES Federal Register / Vol. 72, No. 221 / Friday, November 16, 2007 / Notices VerDate Aug<31>2005 Federal Register / Vol. 72, No. 221 / Friday, November 16, 2007 / Notices 21:48 Nov 15, 2007 Jkt 214001 PO 00000 Frm 00065 Fmt 4703 Sfmt 4725 E:\FR\FM\16NON1.SGM 16NON1 EN16NO07.048</GPH> mstockstill on PROD1PC66 with NOTICES 64638 VerDate Aug<31>2005 21:48 Nov 15, 2007 Jkt 214001 PO 00000 Frm 00066 Fmt 4703 Sfmt 4725 E:\FR\FM\16NON1.SGM 16NON1 64639 EN16NO07.049</GPH> mstockstill on PROD1PC66 with NOTICES Federal Register / Vol. 72, No. 221 / Friday, November 16, 2007 / Notices VerDate Aug<31>2005 Federal Register / Vol. 72, No. 221 / Friday, November 16, 2007 / Notices 21:48 Nov 15, 2007 Jkt 214001 PO 00000 Frm 00067 Fmt 4703 Sfmt 4725 E:\FR\FM\16NON1.SGM 16NON1 EN16NO07.050</GPH> mstockstill on PROD1PC66 with NOTICES 64640 VerDate Aug<31>2005 21:48 Nov 15, 2007 Jkt 214001 PO 00000 Frm 00068 Fmt 4703 Sfmt 4725 E:\FR\FM\16NON1.SGM 16NON1 64641 EN16NO07.051</GPH> mstockstill on PROD1PC66 with NOTICES Federal Register / Vol. 72, No. 221 / Friday, November 16, 2007 / Notices VerDate Aug<31>2005 Federal Register / Vol. 72, No. 221 / Friday, November 16, 2007 / Notices 21:48 Nov 15, 2007 Jkt 214001 PO 00000 Frm 00069 Fmt 4703 Sfmt 4725 E:\FR\FM\16NON1.SGM 16NON1 EN16NO07.052</GPH> mstockstill on PROD1PC66 with NOTICES 64642 VerDate Aug<31>2005 21:48 Nov 15, 2007 Jkt 214001 PO 00000 Frm 00070 Fmt 4703 Sfmt 4725 E:\FR\FM\16NON1.SGM 16NON1 64643 EN16NO07.053</GPH> mstockstill on PROD1PC66 with NOTICES Federal Register / Vol. 72, No. 221 / Friday, November 16, 2007 / Notices VerDate Aug<31>2005 Federal Register / Vol. 72, No. 221 / Friday, November 16, 2007 / Notices 21:48 Nov 15, 2007 Jkt 214001 PO 00000 Frm 00071 Fmt 4703 Sfmt 4703 E:\FR\FM\16NON1.SGM 16NON1 EN16NO07.054</GPH> mstockstill on PROD1PC66 with NOTICES 64644 Federal Register / Vol. 72, No. 221 / Friday, November 16, 2007 / Notices [FR Doc. 07–5715 Filed 11–15–07; 8:45 am] BILLING CODE 6725–01–C FEDERAL RESERVE SYSTEM Agency Information Ccollection Activities: Announcement of Board Approval Under Delegated Authority and Submission to OMB SUMMARY: Background. Notice is hereby given of the final approval of proposed information collections by the Board of Governors of the Federal Reserve System (Board) under OMB delegated authority, as per 5 CFR 1320.16 (OMB Regulations on Controlling Paperwork Burdens on the Public). Board– approved collections of information are incorporated into the official OMB inventory of currently approved collections of information. Copies of the Paperwork Reduction Act Submission, supporting statements and approved collection of information instrument(s) are placed into OMB’s public docket files. The Federal Reserve may not conduct or sponsor, and the respondent is not required to respond to, an information collection that has been extended, revised, or implemented on or after October 1, 1995, unless it displays a currently valid OMB control number. FOR FURTHER INFORMATION CONTACT: Federal Reserve Board Clearance Officer ––Michelle Shore––Division of Research and Statistics, Board of Governors of the Federal Reserve System, Washington, DC 20551 (202–452–3829); OMB Desk Officer––Alexander T. Hunt––Office of Information and Regulatory Affairs, Office of Management and Budget, New Executive Office Building, Room 10235, Washington, DC 20503. Final approval under OMB delegated authority of the extension for three years, without revision, of the following report: mstockstill on PROD1PC66 with NOTICES Report title: Disclosure Requirements Associated with Regulation V Agency form number: Reg V OMB control number: 7100–03081 Frequency: On occasion Reporters: Financial institutions2 1 The information collections associated with the following rulemakings: Fair Credit Reporting Affiliate Marketing Regulations (Docket No R1203) and Identity Theft Red Flags and Address Discrepancies under the Fair and Accurate Credit Transactions Act of 2003 (Docket No R1255), will be assigned OMB No. 7100–0308. 2 Under section 217, the term ‘‘financial institution’’ is defined broadly to have the same meaning as in the privacy provisions of the Gramm–Leach–Bliley Act of 1999 (GLB Act), which defines financial institution to mean ‘‘any institution the business of which is engaging in financial activities as described in section 4(k) of VerDate Aug<31>2005 21:48 Nov 15, 2007 Jkt 214001 Annual reporting hours: 7,500 hours Estimated average hours per response: .25 hours Number of respondents: 30,000 General description of report: This information collection is mandatory (15 U.S.C. § 1681s–2(a)(7)). Because the records are maintained at state member banks and the notices are not provided to the Federal Reserve, no issue of confidentiality arises under the Freedom of Information Act. Abstract: Financial institutions that (1) extend credit and regularly and in the ordinary course of business furnish information to a nationwide consumer reporting agency, and (2) furnish negative information to such an agency regarding credit extended to a customer must provide a clear and conspicuous notice to the customer, in writing, about furnishing this negative information. Current Actions: On September 6, 2007, the Federal Reserve published a notice in the Federal Register (72 FR 51228) requesting public comment for sixty days on the extension, without revision, of these disclosure requirements; the comment period expired on November 5, 2007. The Federal Reserve did not receive any comments. Board of Governors of the Federal Reserve System, November 13, 2007. Robert deV. Frierson, Deputy Secretary of the Board. [FR Doc. E7–22454 Filed 11–15–07; 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 indicated. The application also will be available for inspection at the offices of the Board of Governors. Interested the Bank Holding Company Act of 1956,’’ whether or not affiliated with a bank. 15 U.S.C. 6809(3). PO 00000 Frm 00072 Fmt 4703 Sfmt 4703 64645 persons may express their views in writing on the standards enumerated in the BHC Act (12 U.S.C. 1842(c)). If the proposal also involves the acquisition of a nonbanking company, the review also includes whether the acquisition of the nonbanking company complies with the standards in section 4 of the BHC Act (12 U.S.C. 1843). Unless otherwise noted, nonbanking activities will be conducted throughout the United States. Additional information on all bank holding companies may be obtained from the National Information Center Webs ite at www.ffiec.gov/nic/. Unless otherwise noted, comments regarding each of these applications must be received at the Reserve Bank indicated or the offices of the Board of Governors not later than December 10, 2007. A. Federal Reserve Bank of New York (Anne MacEwen, Bank Applications Officer) 33 Liberty Street, New York, New York 10045–0001: 1. BNP Paribas, Paris, France; to acquire up to 9.9 percent of the voting shares of Shinhan Financial Group Co., Ltd., Seoul, Korea, and thereby indirectly acquire Shinhan Bank America, New York, New York. A. Federal Reserve Bank of Chicago (Burl Thornton, Assistant Vice President) 230 South LaSalle Street, Chicago, Illinois 60690–1414: 1. ISB Financial Corp., Iowa City, Iowa, to merge with MidWestOne Financial Group, Inc. and thereby indirectly acquire MidWestOne Bank, both of Oskaloosa, Iowa. Board of Governors of the Federal Reserve System, November 9, 2007. Robert deV. Frierson, Deputy Secretary of the Board. [FR Doc. E7–22341 Filed 11–15–07; 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 E:\FR\FM\16NON1.SGM 16NON1

Agencies

[Federal Register Volume 72, Number 221 (Friday, November 16, 2007)]
[Notices]
[Pages 64628-64645]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 07-5715]


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FEDERAL HOUSING FINANCE BOARD

[No. 2007-N-13]


Submission for OMB Review; Comment Request

AGENCY: Federal Housing Finance Board.

ACTION: Notice.

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

SUMMARY: In accordance with the Paperwork Reduction Act of 1995, the 
Federal Housing Finance Board (Finance Board) is submitting the 
information collection entitled ``Federal Home Loan Bank Directors'' to 
the Office of Management and Budget (OMB) for review and approval of a 
three-year extension of the OMB control number, 3069-0002, which is due 
to expire on November 30, 2007.

DATES: Interested persons may submit written comments on or before 
December 17, 2007.

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 OR COPIES OF THE COLLECTION CONTACT: Patricia 
L. Sweeney, Program Analyst, Office of Supervision, by electronic mail 
at sweeneyp@fhfb.gov, by telephone at 202-408-2872, or by regular mail 
to the Federal Housing Finance Board, 1625 Eye Street, NW., Washington, 
DC 20006.

SUPPLEMENTARY INFORMATION: 

A. Need for and Use of Information Collection

    Section 7 of the Federal Home Loan Bank Act (Bank Act) (12 U.S.C. 
1427) and the Finance Board's implementing regulation, codified at 12 
CFR part 915, establish the eligibility requirements and the procedures 
for electing and appointing Federal Home Loan Bank (Bank) directors. 
Under part 915, the Banks determine the eligibility of elective 
directors and director nominees and run the annual director election 
process. To determine eligibility, the Banks use the Federal Home Loan 
Bank Elective Director Eligibility Certification Form, which has not 
changed since the information collection was last cleared in 2004. A 
copy of the Form is attached to this Notice.
    In 2007, the Finance Board published two rules affecting the 
eligibility and selection of appointive Bank directors. The first rule, 
published in April 2007, requires the boards of directors of the Banks 
to submit to the Finance Board a list of individuals that includes 
information regarding each individual's eligibility and qualifications 
to serve as a Bank director. The Finance Board uses the list provided 
by each Bank to select well-qualified individuals to serve on the 
Bank's board of directors. See 72 FR 15600 (Apr. 2, 2007). The second 
rule, published in June 2007, clarifies the types of financial 
interests an appointive Bank director may maintain in a member of the 
Bank on whose board the director serves. See 72 FR 33637 (June 19, 
2007). As a result of these regulatory changes, the Finance Board has 
revised the form the Banks and the Finance Board use to determine 
whether prospective appointive directors satisfy the statutory and 
regulatory eligibility requirements and renamed it the Federal Home 
Loan Bank Appointive Director Application Form (Application Form). The 
revised

[[Page 64629]]

Application Form asks individuals for information about their 
background and qualifications to serve as an appointive Bank director 
as well as compliance with statutory eligibility requirements. It also 
conforms the information about prohibited financial interests to the 
new rule. In addition, to reduce the burden on incumbent appointive 
directors, the Finance Board has created a new Federal Home Loan Bank 
Appointive Bank Director Annual Certification Form (Annual Form) that 
allows individuals simply to certify that they continue to meet the 
director eligibility requirements. Copies of both Appointive Director 
Forms are attached to this Notice.
    The likely respondents include Banks, Bank members, and prospective 
and incumbent Bank directors. The OMB number for the information 
collection is 3069-0002. The OMB clearance for the information 
collection expires on November 30, 2007.

B. Burden Estimate

    The Finance Board estimates the total number of respondents is 
4,351, which includes 12 Banks, 4,000 Bank members, and 339 prospective 
and incumbent Bank directors. As explained below, the Finance Board 
estimates that the total annual hour burden for all respondents is 
4580.5 hours.

1. Elections and Elective Directors

a. Banks
    The Finance Board estimates the total annual hour burden for each 
Bank to conduct the election of directors and to process Elective 
Director Eligibility Certification Forms is 235 hours. The estimate for 
the average hour burden for all Banks is 2,820 hours (12 Banks x 235 
hours = 2,820 hours).
b. Members
    The Finance Board estimates the total annual average hour burden 
for all Bank members to participate in the election process is 1,075 
hours. This includes the time necessary to consider elective director 
candidates and to cast votes. The Finance Board estimates that Bank 
members will consider 300 elective director candidates annually for a 
total of 75 hours (300 individuals x 15 minutes = 75 hours). The 
Finance Board estimates the total annual average hour burden for a Bank 
member to vote in the director election is 15 minutes for a total of 
1,000 hours (4,000 voting members x 15 minutes = 1,000 hours).
c. Prospective and Incumbent Elective Directors
    The Finance Board estimates the total annual average hour burden 
for all prospective and incumbent elective directors is 70 hours. This 
includes a total annual average of 100 prospective elective directors 
(out of the 300 individuals the Banks consider), with 1 response per 
individual taking an average of 30 minutes (100 individuals x 30 
minutes = 50 hours). It also includes a total annual average of 80 
incumbent elective directors, with 1 response per individual taking an 
average of 15 minutes (80 individuals x 15 minutes = 20 hours).

2. Appointive Directors

a. Banks
    The Finance Board estimates the total annual average hour burden 
for each Bank to recruit, review, and recommend individuals to be 
appointed as Bank directors is 28 hours. In a typical year, no Bank 
should have more than three vacant appointive directorships. The 
estimate for the average hour burden for all Banks is 336 hours (12 
Banks x 28 hours = 336 hours).
b. Prospective and Incumbent Appointive Directors
    The Finance Board estimates the total annual average hour burden 
for all prospective and incumbent appointive directors is 279.5 hours. 
This includes a total annual average of 84 prospective appointive 
directors with 1 response per individual taking an average of 3 hours 
(84 individuals x 3 hours = 252 hours). It also includes a total annual 
average of 55 incumbent appointive directors, with 1 response per 
individual taking an average of 30 minutes (55 individuals x 30 minutes 
= 27.5 hours).

C. Comment Request

    In accordance with the requirements of 5 CFR 1320.8(d), the Finance 
Board published a request for public comments regarding this 
information collection in the Federal Register on August 8, 2007. See 
72 FR 44540 (Aug. 8, 2007). The 60-day comment period closed on October 
9, 2007.
    The Finance Board received two public comments, one from a trade 
association that represents community banks and one from a Bank. The 
trade association supported the use of the new and revised Appointive 
Director Forms, believing that the Application Form will elicit 
valuable information about applicant's skills and the Annual Form will 
reduce the reporting burden on incumbent directors.
    The Bank suggested several changes, which the Finance Board has 
adopted, to the Appointive Director Forms to clarify the information an 
individual must provide. The Finance Board has clarified the 
instructions on the Annual Form to make clear that prohibited 
relationships between a director and a Bank or any member of the 
director's Bank, also apply to such relationships with the director's 
spouse or minor children. See 12 CFR 915.10(e)(6). On the Application 
Form, the Finance Board has made clear that an appointive director may 
not serve as an officer of any Bank and that the provisions on a 
director's contractual rights to the payment of money apply also to the 
director's spouse. See 12 U.S.C. 1427(a); 12 CFR 915.10(e)(6). The 
Finance Board also deleted the reference to interests held through a 
trust or other similar arrangement from the definition of ``indirect'' 
since this type of financial interest does not disqualify an individual 
from being appointed as a Bank director.
    The Finance Board requests written comments on the following: (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'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. 
Comments should be submitted to OMB in writing at the address listed 
above.

    Dated: November 9, 2007.

    By the Federal Housing Finance Board.
Neil R. Crowley,
Acting General Counsel.
BILLING CODE 6725-01-P

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[FR Doc. 07-5715 Filed 11-15-07; 8:45 am]
BILLING CODE 6725-01-C