Proposed Collection; Comment Request, 64691-64692 [E9-29219]

Download as PDF Federal Register / Vol. 74, No. 234 / Tuesday, December 8, 2009 / Notices STATUS: This meeting will be open to the public. ITEMS TO BE DISCUSSED: Correction and Approval of Minutes. Adoption of Policy to Prepare and Publish a Guidebook for Complainants and Respondents in Enforcement Matters. Agency Procedure. Management and Administrative Matters. Individuals who plan to attend and require special assistance, such as sign language interpretation or other reasonable accommodations, should contact Mary Dove, Commission Secretary, at (202) 694–1040, at least 72 hours prior to the hearing date. PERSON TO CONTACT FOR INFORMATION: Judith Ingram, Press Officer; Telephone: (202) 694–1220. Mary W. Dove, Secretary of the Commission. [FR Doc. E9–29118 Filed 12–7–09; 8:45 am] BILLING CODE 6715–01–M FEDERAL HOUSING FINANCE AGENCY [No. 2009–N–13] Proposed Collection; Comment Request WReier-Aviles on DSKGBLS3C1PROD with NOTICES AGENCY: Federal Housing Finance Agency. ACTION: 30-day Notice of submission of information collection for approval from the Office of Management and Budget. SUMMARY: In accordance with the requirements of the Paperwork Reduction Act of 1995, the Federal Housing Finance Agency (FHFA) is seeking public comments concerning a currently approved information collection known as ‘‘Affordable Housing Program (AHP),’’ which has been assigned control number 2590– 0007 by the Office of Management and Budget (OMB). FHFA will submit a request to OMB for regular review and approval to renew the information collection for a three-year period. The control number is due to expire on December 31, 2009. DATES: Interested persons may submit comments on or before January 7, 2010. Comments: 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 Agency, Washington, DC 20503, Fax: 202–395– 6974, E-mail address: OIRA_Submission@omb.eop.gov. Please also submit them to FHFA using any one of the following methods: VerDate Nov<24>2008 15:16 Dec 07, 2009 Jkt 220001 • E-mail: RegComments@fhfa.gov. Please include Proposed Collection; Comment Request: Affordable Housing Program (AHP) (No. 2009–N–##) 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: Affordable Housing Program (AHP) (No. 2009–N–##). • Federal eRulemaking Portal: http:// www.regulations.gov. Follow the instructions for submitting comments. 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. Send requests for copies of the Affordable Housing Program information collection and supporting documentation to the contact referenced in the For Further Information Contact section. There is no charge for copies. FOR FURTHER INFORMATION CONTACT: Charles E. McLean, Acting Manager, Division of Housing Mission and Goals, Charles.Mclean@fhfa.gov, 202–408– 2537; or Deattra D. Perkins, Community Development Specialist, Division of Housing Mission and Goals, Deattra.Perkins@fhfa.gov, 202–408– 2527 (not toll-free numbers). The telephone number for the Telecommunications Device for the Deaf is 800–877–8339. SUPPLEMENTARY INFORMATION: A. Background Section 10(j) of the Federal Home Loan Bank Act (Bank Act) requires each Bank to establish an affordable housing program, the purpose of which is to enable a Bank’s members to finance homeownership by households with incomes at or below 80% of the area median income (low- or moderateincome households), and to finance the purchase, construction, or rehabilitation of rental projects in which at least 20% of the units will be occupied by and affordable for households earning 50% or less of the area median income (very low-income households). 12 U.S.C. 1430(j)(1) and (2). The Bank Act requires each Bank to contribute 10% of its previous year’s net earnings to its AHP annually, subject to a minimum annual combined contribution by the 12 Banks of $100 million. 12 U.S.C. 1430(j)(5)(C). The AHP regulation authorizes a Bank, in its discretion, to set aside a portion of its annual required AHP contribution to establish homeownership set-aside programs for PO 00000 Frm 00032 Fmt 4703 Sfmt 4703 64691 the purpose of promoting homeownership for low- or moderateincome households. See 12 CFR 1291.6. Under the homeownership set-aside programs, a Bank may provide AHP direct subsidy (grants) to members to pay for down payment assistance, closing costs, and counseling costs in connection with a household’s purchase of its primary residence, and for rehabilitation assistance in connection with a household’s rehabilitation of an owner-occupied residence. 12 CFR 1291.6(c)(4). Currently, a Bank may allocate up to the greater of $4.5 million or 35% of its annual required AHP contribution to homeownership setaside programs in that year. B. Need for and Use of the Information Collection The Banks use AHP data collection to determine whether an AHP applicant satisfies the statutory and regulatory requirements to receive AHP subsidies. FHFA’s use of the information is necessary to enable and to ensure that Bank funding decisions, and the use of the funds awarded, are consistent with statutory and regulatory requirements. The AHP information collection is found in the Data Reporting Manual (DRM). See Resolution Number 2006–13 (available electronically in the FOIA Reading Room: http://www.fhfa.gov/ Default.aspx?Page=256&ListYear= 2006&ListCategory=9#9/2006). The OMB number for the information collection is 2590–0007. The OMB clearance for the information collection expires on December 31, 2009. The likely respondents are institutions that are Bank members. C. Burden Estimate FHFA analyzed the cost and hour burden for the seven facets of the AHP information collection—AHP applications, AHP modification requests, AHP monitoring agreements, AHP recapture agreements, homeownership set-aside 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. As explained in more detail below, the estimate for the total annual hour burden for applicant and member respondents for all seven facets of the AHP information collection is 76,214 hours. 1. AHP Applications FHFA estimates a total annual average of 2,050 applications for AHP funding, with 1 response per applicant, and a 24hour average processing time for each E:\FR\FM\08DEN1.SGM 08DEN1 64692 Federal Register / Vol. 74, No. 234 / Tuesday, December 8, 2009 / Notices 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 FHFA 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 FHFA 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 4.75 hours. The estimate for the total annual hour burden for AHP monitoring agreements is 3,919 hours (825 respondents × 1 agreement × 4.75 hours). 4. AHP Recapture Agreements FHFA estimates a total annual average of 360 AHP recapture agreements, with 1 agreement per respondent. The estimate for the average hours to prepare and implement an AHP recapture agreement is 2 hours. The estimate for the total annual hour burden for AHP recapture agreements is 720 hours (360 respondents × 1 agreement × 2 hours). 5. Homeownership Set-Aside Program Applications FHFA estimates a total annual average of 10,000 homeownership set-aside program applications, with 1 application per respondent, and a 2 hour average processing time for each application. The estimate for the total annual hour burden for homeownership set-aside program applications is 20,000 hours (10,000 respondents × 1 application × 2 hours). WReier-Aviles on DSKGBLS3C1PROD with NOTICES 6. Verification of Statutory and Regulatory Compliance Submissions FHFA 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). VerDate Nov<24>2008 15:16 Dec 07, 2009 Jkt 220001 7. Bank Advisory Council Reports and Recommendations on AHP Implementation Plans Member and applicant respondents incur no costs because the Bank Advisory Councils prepare and the Banks and FHFA review Advisory Council reports and recommendations. D. Comment Request Written comments are requested on: (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 applicants and housing associates, including through the use of automated collection techniques or other forms of information technology. Comments may be submitted in writing as instructed above in the Comments section. Dated: December 2, 2009. Edward J. De Marco, Acting Director, Federal Housing Finance Agency. [FR Doc. E9–29219 Filed 12–7–09; 8:45 am] BILLING CODE P FEDERAL RESERVE SYSTEM Agency Information Collection 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 PO 00000 Frm 00033 Fmt 4703 Sfmt 4703 —Michelle Shore—Division of Research and Statistics, Board of Governors of the Federal Reserve System, Washington, DC 20551 (202–452–3829). OMB Desk Officer—Shagufta Ahmed —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 information collections: (1) Report title: Disclosure and Reporting Requirements of CRA-Related Agreements. Agency form number: Reg G. OMB control number: 7100–0299. Frequency: On occasion and annual. Reporters: Insured depository institutions (IDIs) and nongovernmental entities or persons (NGEPs). Annual reporting hours: 78 hours. Number of respondents: 3 IDI and 6 NGEPs. Estimated average hours per response: 1 hour (6 disclosure requirements and 1 annual report) and 4 hours (2 annual reports). General description of report: This information collection is required pursuant the Federal Deposit Insurance Act (FDI Act), 12 U.S.C. 1831y(b) and (c). The FDI Act authorizes the Federal Reserve to require the disclosure and reporting requirements of Regulation G (12 CFR part 207). In general, the Federal Reserve does not consider individual respondent commercial and financial information collected by the Federal Reserve pursuant to Regulation G as confidential. However, a respondent may request confidential treatment pursuant to section (b)(4) of Freedom of Information Act, 5 U.S.C 552(b)(4). Abstract: Section 48 of the FDI Act imposes disclosure and reporting requirements on IDIs, their affiliates and NGEPs that enter into written agreements that meet certain criteria. The written agreements must (1) be made in fulfillment of the Community Reinvestment Act of 1977 (CRA) and (2) involve funds or other resources of an IDI or affiliate with an aggregate value of more than $10,000 in a year, or loans with an aggregate principal value of more than $50,000 in a year. Section 48 excludes from the disclosure and reporting requirements any agreement between an IDI or its affiliate and an NGEP if the NGEP has not contacted the IDI or its affiliate, or a banking agency, concerning the CRA performance of the IDI. Regulation G contains four disclosure requirements and two reporting requirements for IDIs and affiliates and E:\FR\FM\08DEN1.SGM 08DEN1

Agencies

[Federal Register Volume 74, Number 234 (Tuesday, December 8, 2009)]
[Notices]
[Pages 64691-64692]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E9-29219]


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FEDERAL HOUSING FINANCE AGENCY

[No. 2009-N-13]


Proposed Collection; Comment Request

AGENCY: Federal Housing Finance Agency.

ACTION: 30-day Notice of submission of information collection for 
approval from the Office of Management and Budget.

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

SUMMARY: In accordance with the requirements of the Paperwork Reduction 
Act of 1995, the Federal Housing Finance Agency (FHFA) is seeking 
public comments concerning a currently approved information collection 
known as ``Affordable Housing Program (AHP),'' which has been assigned 
control number 2590-0007 by the Office of Management and Budget (OMB). 
FHFA will submit a request to OMB for regular review and approval to 
renew the information collection for a three-year period. The control 
number is due to expire on December 31, 2009.

DATES: Interested persons may submit comments on or before January 7, 
2010.
    Comments: 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 Agency, Washington, DC 
20503, Fax: 202-395-6974, E-mail address: OIRA_Submission@omb.eop.gov. 
Please also submit them to FHFA using any one of the following methods:
     E-mail: RegComments@fhfa.gov. Please include Proposed 
Collection; Comment Request: Affordable Housing Program (AHP) (No. 
2009-N-) 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: Affordable Housing 
Program (AHP) (No. 2009-N-).
     Federal eRulemaking Portal: http://www.regulations.gov. 
Follow the instructions for submitting comments.
    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. Send requests for 
copies of the Affordable Housing Program information collection and 
supporting documentation to the contact referenced in the For Further 
Information Contact section. There is no charge for copies.

FOR FURTHER INFORMATION CONTACT: Charles E. McLean, Acting Manager, 
Division of Housing Mission and Goals, Charles.Mclean@fhfa.gov, 202-
408-2537; or Deattra D. Perkins, Community Development Specialist, 
Division of Housing Mission and Goals, Deattra.Perkins@fhfa.gov, 202-
408-2527 (not toll-free numbers). The telephone number for the 
Telecommunications Device for the Deaf is 800-877-8339.

SUPPLEMENTARY INFORMATION:

A. Background

    Section 10(j) of the Federal Home Loan Bank Act (Bank Act) requires 
each Bank to establish an affordable housing program, the purpose of 
which is to enable a Bank's members to finance homeownership by 
households with incomes at or below 80% of the area median income (low- 
or moderate- income households), and to finance the purchase, 
construction, or rehabilitation of rental projects in which at least 
20% of the units will be occupied by and affordable for households 
earning 50% or less of the area median income (very low-income 
households). 12 U.S.C. 1430(j)(1) and (2). The Bank Act requires each 
Bank to contribute 10% of its previous year's net earnings to its AHP 
annually, subject to a minimum annual combined contribution by the 12 
Banks of $100 million. 12 U.S.C. 1430(j)(5)(C).
    The AHP regulation authorizes a Bank, in its discretion, to set 
aside a portion of its annual required AHP contribution to establish 
homeownership set-aside programs for the purpose of promoting 
homeownership for low- or moderate- income households. See 12 CFR 
1291.6. Under the homeownership set-aside programs, a Bank may provide 
AHP direct subsidy (grants) to members to pay for down payment 
assistance, closing costs, and counseling costs in connection with a 
household's purchase of its primary residence, and for rehabilitation 
assistance in connection with a household's rehabilitation of an owner-
occupied residence. 12 CFR 1291.6(c)(4). Currently, a Bank may allocate 
up to the greater of $4.5 million or 35% of its annual required AHP 
contribution to homeownership set-aside programs in that year.

B. Need for and Use of the Information Collection

    The Banks use AHP data collection to determine whether an AHP 
applicant satisfies the statutory and regulatory requirements to 
receive AHP subsidies. FHFA's use of the information is necessary to 
enable and to ensure that Bank funding decisions, and the use of the 
funds awarded, are consistent with statutory and regulatory 
requirements. The AHP information collection is found in the Data 
Reporting Manual (DRM). See Resolution Number 2006-13 (available 
electronically in the FOIA Reading Room: http://www.fhfa.gov/Default.aspx?Page=256&ListYear=2006&ListCategory=9#9/2006).
    The OMB number for the information collection is 2590-0007. The OMB 
clearance for the information collection expires on December 31, 2009. 
The likely respondents are institutions that are Bank members.

C. Burden Estimate

    FHFA analyzed the cost and hour burden for the seven facets of the 
AHP information collection--AHP applications, AHP modification 
requests, AHP monitoring agreements, AHP recapture agreements, 
homeownership set-aside 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. As explained in more detail below, the 
estimate for the total annual hour burden for applicant and member 
respondents for all seven facets of the AHP information collection is 
76,214 hours.

1. AHP Applications

    FHFA estimates a total annual average of 2,050 applications for AHP 
funding, with 1 response per applicant, and a 24-hour average 
processing time for each

[[Page 64692]]

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

    FHFA 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

    FHFA 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 4.75 hours. The 
estimate for the total annual hour burden for AHP monitoring agreements 
is 3,919 hours (825 respondents x 1 agreement x 4.75 hours).

4. AHP Recapture Agreements

    FHFA estimates a total annual average of 360 AHP recapture 
agreements, with 1 agreement per respondent. The estimate for the 
average hours to prepare and implement an AHP recapture agreement is 2 
hours. The estimate for the total annual hour burden for AHP recapture 
agreements is 720 hours (360 respondents x 1 agreement x 2 hours).

5. Homeownership Set-Aside Program Applications

    FHFA estimates a total annual average of 10,000 homeownership set-
aside program applications, with 1 application per respondent, and a 2 
hour average processing time for each application. The estimate for the 
total annual hour burden for homeownership set-aside program 
applications is 20,000 hours (10,000 respondents x 1 application x 2 
hours).

6. Verification of Statutory and Regulatory Compliance Submissions

    FHFA 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 Plans

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

D. Comment Request

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

    Dated: December 2, 2009.
Edward J. De Marco,
Acting Director, Federal Housing Finance Agency.
[FR Doc. E9-29219 Filed 12-7-09; 8:45 am]
BILLING CODE P