Proposed Collection; Comment Request, 40835-40837 [2010-17122]
Download as PDF
Federal Register / Vol. 75, No. 134 / Wednesday, July 14, 2010 / Notices
N–08)’’ in the subject line of the
message.
• U.S Mail/Hand Delivery: Federal
Housing Finance Agency, Fourth Floor,
1700 G Street NW., Washington, DC
20552, ATTENTION: Proposed
Collection Public Comment Request:
‘‘Capital Requirements for the Federal
Home Loan Banks, (No. 2010–N–08).’’
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.
accordance with the Bank’s capital plan
under part 933.
The Banks use the information
collection to determine the amount of
capital stock a member must purchase
to maintain membership in and to
obtain services from a Bank. More
specifically, the provisions of §§ 931.3
and 933.2(a) authorize a Bank to offer its
members several options to satisfy a
membership investment in capital stock
and an activity-based stock purchase
requirement. The information collection
is necessary to provide the Banks with
the flexibility to meet the statutory and
regulatory capital structure
requirements while allowing Bank
members to choose the option best
suited to their business requirements.
The OMB control number for the
information collection is 2590–0002.
The OMB clearance for the information
collection expires on July 31, 2010. The
likely respondents include Banks and
Bank members.
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.
B. Burden Estimate
While the number of member
respondents has remained essentially
the same, the overall burden on
members of the Banks has decreased
because of more accurate calculations.
The estimate for the total annual hour
burden for all member respondents is
3,023 hours. The estimate for the total
annual cost burden for member
respondents is $123,943. These
estimates are based on the following
calculations:
FHFA estimates the total annual
average number of activity-based stock
purchase requirement for member
respondents at 28,080 (108 daily
borrowers x 260 working days, x 1
response per respondent). The estimate
for the average hours per response is
0.05 hours. The estimate for the annual
hour burden for activity-based stock
purchase requirement member
respondents is 1,404 hours (108 daily
borrowers x 260 working days, x 1
response x 0.05 hours). The estimate for
the annual cost burden for member
respondents is $57,564 (1,404 hours x
$41 hourly rate).
FHFA estimates the total annual
average number of investment in capital
stock membership maintenance
respondents at 32,372 (8,093 with 4
responses per respondent). The estimate
for the average hours per response is
0.05 hours. The estimate for the annual
hour burden for membership
maintenance investment in capital stock
respondents is 1,619 hours (8,093
membership respondents x 4 responses
per year x 0.05 hours per response). The
estimate for the annual cost burden
$66,379 (1,619 hours x $41 hourly rate).
SUPPLEMENTARY INFORMATION:
emcdonald on DSK2BSOYB1PROD with NOTICES
A. Need For and Use of the Information
Collection
Section 6 of the Federal Home Loan
Bank Act (Bank Act) establishes the
capital structure for the Federal Home
Loan Banks (Banks) and requires FHFA
to issue regulations prescribing uniform
capital standards applicable to each
Bank.1 Parts 930, 931, 932, and 933 of
title 12, Code of Federal Regulations
implement the statutory capital
structure for the Banks. Part 930
establishes definitions applicable to risk
management and the capital regulations;
part 931 concerns Bank capital stock;
part 932 establishes Bank capital
requirements; and part 933 sets forth the
requirements for Bank capital structure
plans. The provisions of part 931
provide that a Bank must require its
members to maintain a minimum
investment in the capital stock of the
Bank as a condition to becoming and
remaining a member of the Bank and as
a condition to transacting business with
the Bank or obtaining advances from the
Bank. The amount of the required
minimum investment is determined in
1 12
U.S.C. 1426.
VerDate Mar<15>2010
16:07 Jul 13, 2010
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Frm 00066
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40835
C. Comment Request
In accordance with the requirements
of 5 CFR 1320.8(d), FHFA published a
request for public comments regarding
this information collection in the
Federal Register on March 29, 2010. See
75 FR 15431 (Mar. 29, 2010). The 60-day
comment period closed on May 28,
2010. No public comments were
received.
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: July 6, 2010.
Edward J. DeMarco,
Acting Director, Federal Housing Finance
Agency.
[FR Doc. 2010–17121 Filed 7–13–10; 8:45 am]
BILLING CODE 8070–01–P
FEDERAL HOUSING FINANCE
AGENCY
[No. 2010–N–09]
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
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 will 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 August 13, 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,
E:\FR\FM\14JYN1.SGM
14JYN1
40836
Federal Register / Vol. 75, No. 134 / Wednesday, July 14, 2010 / Notices
Washington, DC 20503, Fax: 202–395–
6974, E-mail:
OIRA_Submission@omb.eop.gov. Please
also submit comments to 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–09)’’ in the subject
line of the message.
• 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. Please
include Proposed Collection; Comment
Request: ‘‘Members of the Banks, (No.
2010–N–09)’’ in the subject line of the
message.
• U.S. 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–
09).’’
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:
emcdonald on DSK2BSOYB1PROD with NOTICES
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,
1 12
16:07 Jul 13, 2010
B. Burden Estimate
FHFA has analyzed the cost and hour
burden for the four facets of the
information collection: (1) Membership
Application Process, (2) Minimum
initial capital stock calculation for
applicants, (3) Membership
withdrawals, and (4) Transfer of
membership to another Bank district.
The estimate for the total annual hour
burden for all respondents is 5,564
2 12 CFR part 1263 (former part 925). See 75 FR
678, 690 (Jan. 5, 2010).
U.S.C. 1424.
VerDate Mar<15>2010
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
More specifically, the membership
rule implements the statutory eligibility
requirements and provides guidance on
how an applicant may satisfy such
requirements. The Banks, and where
appropriate, FHFA, use the information
collection to determine: (i) If an
institution satisfies the statutory and
regulatory membership requirements;
(ii) a member’s initial capital stock
purchase in a Bank; (iii) member
withdrawals; and (iv) where a member
transfers to a different Bank district. 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 provisions governing this
information collection are found in
§§ 1263.2 through 1263.31 of the
membership rule, 12 CFR 1263.2—
1263.31. 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.
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Frm 00067
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hours. The estimate for the total annual
cost burden is $535,549. These
estimates are based on the following
calculations:
Membership Application and Appeal
Process
FHFA estimates the total annual
average number of member applicants at
283, with 1 response per applicant. Of
those 283 applicants, FHFA estimates
that 1 applicant will appeal a Bank’s
membership determination to FHFA.
The estimate for the average hours per
application is 19.25 hours. The estimate
for the average hours per appeal is 10
hours. The estimate for the total annual
hour burden to applicants for the
membership application and appeal
process is 5,458 hours (283 applicants x
1 response per applicant x 19.25 hours
per response + 1 appellant x 1 appeal x
10 hours). The estimate for the total
annual cost burden to applicants for the
membership application and appeal
process is $521,136.
Initial Capital Stock Calculation for
Applicants
FHFA estimates the total annual
average number of applicant initial
capital stock subscription calculations
at 283, with 1 response per applicant.
The estimate for the average hours per
application is 0.25 hours. The estimate
for the annual hour burden for
applicants’ initial capital stock
subscription calculations is 71 hours
(283 applicants x 1 response per
applicant x 0.25 hours per response).
The estimate for the total annual cost
burden to applicants of initial capital
stock calculation is $9,727.
Membership Withdrawals
FHFA estimates the total annual
average number of membership
withdrawals at 8, with 1 response per
withdrawing member. The estimate for
the average hours per member
withdrawal is 3.5 hours. The estimate
for the annual hour burden for
membership withdrawals is 28 hours (8
membership withdrawals x 1 response
per member x 3.5 hours per response).
The estimate for the total annual cost
burden to members for withdrawals
from membership is $3,836.
Transfers of Membership to Another
Bank District
FHFA estimates the total annual
average number of transfers of
membership at 2, with 1 response per
transferring member. The estimate for
the average hours per member transfer
is 3.5 hours. The estimate for the annual
hour burden for membership transfers is
7 hours (2 membership transfers x 1
E:\FR\FM\14JYN1.SGM
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Federal Register / Vol. 75, No. 134 / Wednesday, July 14, 2010 / Notices
response per member x 3.5 hours per
response). The estimate for the total
annual cost burden to member
respondents of the transfer of
membership process is $850.
C. Comment Request
In accordance with the requirements
of 5 CFR 1320.8(d), FHFA published a
request for public comments regarding
this information collection in the
Federal Register on March 29, 2010. See
75 FR 15431 (Mar. 29, 2010). The 60-day
comment period closed on May 28,
2010. FHFA received one public
comment from a consumer that referred
to another proposed collection of
information that was not related to this
collection.
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: July 6, 2010.
Edward J. DeMarco,
Acting Director, Federal Housing Finance
Agency.
[FR Doc. 2010–17122 Filed 7–13–10; 8:45 am]
BILLING CODE 8070–01–P
FEDERAL MARITIME COMMISSION
emcdonald on DSK2BSOYB1PROD with NOTICES
Notice of Agreements Filed
The Commission hereby gives notice
of the filing of the following agreements
under the Shipping Act of 1984.
Interested parties may submit comments
on the agreements to the Secretary,
Federal Maritime Commission,
Washington, DC 20573, within ten days
of the date this notice appears in the
Federal Register. Copies of the
agreements are available through the
Commission’s Web site (https://
www.fmc.gov) or by contacting the
Office of Agreements at (202)–523–5793
or tradeanalysis@fmc.gov.
Agreement No.: 011279–027.
Title: Latin America Agreement.
Parties: ABC Discussion Agreement;
Caribbean Shipowners Association;
Central America Discussion Agreement;
Compania Libra de Navegacion Uruguay
S.A.; Inland Shipping Services
Association; Venezuelan Discussion
Agreement; West Coast of South
VerDate Mar<15>2010
16:07 Jul 13, 2010
Jkt 220001
America Discussion Agreement; and
Zim Integrated Shipping Services, Ltd.
Filing Party: Wayne R. Rohde, Esq.;
Sher & Blackwell LLP; 1850 M Street,
NW.; Suite 900; Washington, DC 20036.
Synopsis: The amendment deletes the
Hispaniola Discussion Agreement as a
party to the Agreement and updates the
membership of various constituent
agreements.
Agreement No.: 011794–012.
Title: COSCON/KL/YMUK/Hanjin
Worldwide Slot Allocation & Sailing
Agreement.
Parties: COSCO Container Lines
Company, Limited; Kawasaki Kisen
Kaisha, Ltd.; Yangming (UK) Ltd.; and
Hanjin Shipping Co., Ltd.
Filing Party: Robert B. Yoshitomi,
Esq.; Nixon Peabody LLP; 555 West
Fifth Street, 46th Floor; Los Angeles, CA
90013.
Synopsis: The amendment authorizes
communications within the Agreement
regarding operational matters where
parties to the Agreement share space
with outside parties.
Agreement No.: 012104.
Title: Tropical Shipping &
Construction Co., Ltd. and Discovery
Sun Partnership Space Agreement.
Parties: Discovery Sun Partnership
and Tropical Shipping & Construction
Co., Ltd.
Filing Parties: Neal M. Mayer, Esq.;
Hoppel, Mayer & Coleman; 1050
Connecticut Avenue, NW., 10th Floor;
Washington, DC 20036.
Synopsis: The agreement authorizes
Discovery Sun Partnership to provide
space to Tropical Shipping &
Construction Co., Ltd. in the trade
between the U.S. East Coast and ports in
the Bahamas.
Dated: July 9, 2010.
By Order of the Federal Maritime
Commission.
Karen V. Gregory,
Secretary.
[FR Doc. 2010–17177 Filed 7–13–10; 8:45 am]
BILLING CODE 6730–01–P
FEDERAL MARITIME COMMISSION
Ocean Transportation Intermediary
License Applicants
Notice is hereby given that the
following applicants have filed with the
Federal Maritime Commission an
application for a license as a NonVessel-Operating Common Carrier
(NVO) and/or Ocean Freight Forwarder
(OFF)—Ocean Transportation
Intermediary (OTI) pursuant to section
19 of the Shipping Act of 1984 as
amended (46 U.S.C. Chapter 409 and 46
PO 00000
Frm 00068
Fmt 4703
Sfmt 4703
40837
CFR 515). Notice is also hereby given of
the filing of applications to amend an
existing OTI license or the Qualifying
Individual (QI) for a license.
Interested persons may contact the
Office of Transportation Intermediaries,
Federal Maritime Commission,
Washington, D.C. 20573.
A–1 Fargo Van and Storage, Inc. (OFF),
7700 S.W. 100th Street, Miami, FL
33156. Officers: Treva H. Ward, Vice
President, (Qualifying Individual),
Virgil Hale, President, Application
Type: New OFF License.
AFL International Logistics Group LLC
(NVO), 671 N.W. 4th Avenue, Fort
Lauderdale, FL 33311. Officer:
Gabriele U. Heinrichs, Managing
Member, (Qualifying Individual),
Application Type: New NVO License.
Air Tiger Express (USA), Inc. (NVO &
OFF), 149–09 183rd Street, 2nd Floor,
Springfield Gardens, NY 11413.
Officers: Russell Lee, Vice President,
(Qualifying Individual), Richard Chu,
Director/Chief Executive Officer,
Application Type: QI Change.
Allstate Int’l Freight USA, Inc. dba
A.I.F. Company (NVO & OFF), 200 E.
Stanley Street, Compton, CA 90220.
Officer: Byung H. Kim, CEO/
President/Secretary/CFO/Director,
(Qualifying Individual), Application
Type: QI Change.
Amarine USA, Inc. (NVO), 21
Langerfeld Road, Hillsdale, NJ 07642.
Officers: Moon H. You, President/
Secretary, (Qualifying Individual),
Han J. Song, Treasurer, Application
Type: Name Change.
Cargo Infinity USA, Inc. (OFF), 23322
Madero Road, Suite K, Mission Viejo,
CA 92691. Officers: Jean L. Niu,
President/CEO, (Qualifying
Individual), Annie Lam, Director/
Secretary/Treasurer/CFO, Ada Lai Y.
Lee, Director, Application Type: New
OFF License.
Direct Service Inc. dba Tiger Freight
International, Corporation (NVO),
1209 John Reed Court, City of
Industry, CA 91745. Officer: Chi
(Steve) H. Hung, President,
(Qualifying Individual), Application
Type: Trade Name Change.
Eagle Maritime Private Limited dba
Eagle Maritime USA Inc. (NVO), 17,
Contractor Building, 1st Floor, 15,
Vajukotak Marg, Fort, Mumbai 400001
India. Officer: Dasharath Y. Patade,
Chairman/Director/Shareholder,
(Qualifying Individual), Application
Type: New NVO License.
Global Freight Services, Inc. (NVO &
OFF), 32 Raymond Avenue, Chestnut
Ridge, NY 10977. Officer: Rosario
Vizzari, President/Secretary/
Treasurer, (Qualifying Individual),
Application Type: License Transfer.
E:\FR\FM\14JYN1.SGM
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Agencies
[Federal Register Volume 75, Number 134 (Wednesday, July 14, 2010)]
[Notices]
[Pages 40835-40837]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2010-17122]
-----------------------------------------------------------------------
FEDERAL HOUSING FINANCE AGENCY
[No. 2010-N-09]
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 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 will 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 August 13,
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,
[[Page 40836]]
Washington, DC 20503, Fax: 202-395-6974, E-mail: OIRA_Submission@omb.eop.gov. Please also submit comments to 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-09)''
in the subject line of the message.
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. Please include Proposed Collection; Comment Request: ``Members
of the Banks, (No. 2010-N-09)'' in the subject line of the message.
U.S. 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-09).''
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\
---------------------------------------------------------------------------
\1\ 12 U.S.C. 1424.
\2\ 12 CFR part 1263 (former part 925). See 75 FR 678, 690 (Jan.
5, 2010).
---------------------------------------------------------------------------
More specifically, the membership rule implements the statutory
eligibility requirements and provides guidance on how an applicant may
satisfy such requirements. The Banks, and where appropriate, FHFA, use
the information collection to determine: (i) If an institution
satisfies the statutory and regulatory membership requirements; (ii) a
member's initial capital stock purchase in a Bank; (iii) member
withdrawals; and (iv) where a member transfers to a different Bank
district. 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 provisions governing this information collection are found in
Sec. Sec. 1263.2 through 1263.31 of the membership rule, 12 CFR
1263.2--1263.31. 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 has analyzed the cost and hour burden for the four facets of
the information collection: (1) Membership Application Process, (2)
Minimum initial capital stock calculation for applicants, (3)
Membership withdrawals, and (4) Transfer of membership to another Bank
district. The estimate for the total annual hour burden for all
respondents is 5,564 hours. The estimate for the total annual cost
burden is $535,549. These estimates are based on the following
calculations:
Membership Application and Appeal Process
FHFA estimates the total annual average number of member applicants
at 283, with 1 response per applicant. Of those 283 applicants, FHFA
estimates that 1 applicant will appeal a Bank's membership
determination to FHFA. The estimate for the average hours per
application is 19.25 hours. The estimate for the average hours per
appeal is 10 hours. The estimate for the total annual hour burden to
applicants for the membership application and appeal process is 5,458
hours (283 applicants x 1 response per applicant x 19.25 hours per
response + 1 appellant x 1 appeal x 10 hours). The estimate for the
total annual cost burden to applicants for the membership application
and appeal process is $521,136.
Initial Capital Stock Calculation for Applicants
FHFA estimates the total annual average number of applicant initial
capital stock subscription calculations at 283, with 1 response per
applicant. The estimate for the average hours per application is 0.25
hours. The estimate for the annual hour burden for applicants' initial
capital stock subscription calculations is 71 hours (283 applicants x 1
response per applicant x 0.25 hours per response). The estimate for the
total annual cost burden to applicants of initial capital stock
calculation is $9,727.
Membership Withdrawals
FHFA estimates the total annual average number of membership
withdrawals at 8, with 1 response per withdrawing member. The estimate
for the average hours per member withdrawal is 3.5 hours. The estimate
for the annual hour burden for membership withdrawals is 28 hours (8
membership withdrawals x 1 response per member x 3.5 hours per
response). The estimate for the total annual cost burden to members for
withdrawals from membership is $3,836.
Transfers of Membership to Another Bank District
FHFA estimates the total annual average number of transfers of
membership at 2, with 1 response per transferring member. The estimate
for the average hours per member transfer is 3.5 hours. The estimate
for the annual hour burden for membership transfers is 7 hours (2
membership transfers x 1
[[Page 40837]]
response per member x 3.5 hours per response). The estimate for the
total annual cost burden to member respondents of the transfer of
membership process is $850.
C. Comment Request
In accordance with the requirements of 5 CFR 1320.8(d), FHFA
published a request for public comments regarding this information
collection in the Federal Register on March 29, 2010. See 75 FR 15431
(Mar. 29, 2010). The 60-day comment period closed on May 28, 2010. FHFA
received one public comment from a consumer that referred to another
proposed collection of information that was not related to this
collection.
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: July 6, 2010.
Edward J. DeMarco,
Acting Director, Federal Housing Finance Agency.
[FR Doc. 2010-17122 Filed 7-13-10; 8:45 am]
BILLING CODE 8070-01-P