Proposed Collection; Comment Request, 15431 [2010-6912]

Agencies

• FEDERAL HOUSING FINANCE AGENCY

[Federal Register Volume 75, Number 59 (Monday, March 29, 2010)]
[Notices]
[Page 15431]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2010-6912]


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FEDERAL HOUSING FINANCE AGENCY

[No. 2010-N-03]


Proposed Collection; Comment Request

AGENCY: Federal Housing Finance Agency.

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 
``Members of the Banks,'' which has been assigned control number 2590-
0003 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 the FHFA using any one of the following 
methods:
     E-mail: regcomments@fhfa.gov. Please include Proposed 
Collection; Comment Request: ``Members of the Banks, (No. 2010-N-03)'' 
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: ``Members of the Banks, 
(No. 2010-N-03).''
     Federal eRulemaking Portal: https://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 regcomments@fhfa.gov 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 https://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 jonathan.curtisj@fhfa.gov, 
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 4 of the Federal Home Loan Bank Act (Bank Act) establishes 
the eligibility requirements an institution must meet in order to 
become a member of a Federal Home Loan Bank (Bank).\1\ The membership 
rule, which implements section 4 of the Bank Act, provides uniform 
requirements an applicant for Bank membership must meet and review 
criteria a Bank must apply to determine if an applicant satisfies the 
statutory and regulatory membership eligibility requirements.\2\
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    \1\ 12 U.S.C. 1424.
    \2\ 12 CFR part 1263 (former part 925). See 75 FR 678, 690 (Jan. 
5, 2010).
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    More specifically, the membership rule implements the statutory 
eligibility requirements and provides guidance on how an applicant may 
satisfy such requirements. The rule authorizes a Bank to approve or 
deny each membership application subject to the statutory and 
regulatory requirements and permits an applicant to appeal to FHFA a 
Bank's decision to deny certification as a Bank member. The rule also 
imposes a continuing obligation on a current Bank member to provide 
information necessary to determine if it remains in compliance with 
applicable statutory and regulatory eligibility requirements.
    The information collection is necessary to enable a Bank to 
determine whether prospective and current Bank members satisfy the 
statutory and regulatory requirements to be certified initially and 
maintain their status as members eligible to obtain Bank advances. FHFA 
requires and uses the information collection to determine whether to 
uphold or overrule a Bank's decision to deny member certification to an 
applicant.
    The OMB control number for the information collection is 2590-0003, 
which is due to expire on July 31, 2010. The likely respondents are 
institutions that want to be certified as or are members of a Bank 
seeking continued certification.

B. Burden Estimate

    FHFA estimates the total annual average number of respondents who 
are initial applicants at 212, with 1 response per applicant. The 
estimate for the average hours per application is 21.5 hours. The 
estimate for the annual hour burden for applicants is 4,558 hours (212 
applicants x 1 response per applicant x 21.5 hours per response).
    FHFA estimates the total annual average number of maintenance 
respondents, i.e., current Bank members, at 8,106, with 1 response per 
member. The estimate for the average hours per maintenance response is 
0.6 hours. The estimate for the annual hour burden for Bank members is 
4,864 hours (8,106 members x 1 response per member x 0.6 hours per 
response).
    The estimate for the total annual hour burden for all respondents 
is 9,422 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. 2010-6912 Filed 3-26-10; 8:45 am]
BILLING CODE 8070-01-P