Proposed Collection; Comment Request, 9471-9472 [2020-03242]

Download as PDF Federal Register / Vol. 85, No. 33 / Wednesday, February 19, 2020 / Notices Online service, please email FERCOnlineSupport@ferc.gov or call (866) 208–3676 (toll free). For TTY, call (202) 502–8659. Dated: February 12, 2020. Kimberly D. Bose, Secretary. [FR Doc. 2020–03220 Filed 2–18–20; 8:45 am] BILLING CODE 6717–01–P DEPARTMENT OF ENERGY Federal Energy Regulatory Commission [Docket No. ER20–681–000] khammond on DSKJM1Z7X2PROD with NOTICES Tri-State Generation and Transmission Association, Inc.; Supplemental Notice That Initial Market-Based Rate Filing Includes Request for Blanket Section 204 Authorization This is a supplemental notice in the above-referenced Tri-State Generation and Transmission Association, Inc.’s application for market-based rate authority, with an accompanying rate tariff, noting that such application includes a request for blanket authorization, under 18 CFR part 34, of future issuances of securities and assumptions of liability. Any person desiring to intervene or to protest should file with the Federal Energy Regulatory Commission, 888 First Street NE, Washington, DC 20426, in accordance with Rules 211 and 214 of the Commission’s Rules of Practice and Procedure (18 CFR 385.211 and 385.214). Anyone filing a motion to intervene or protest must serve a copy of that document on the Applicant. Notice is hereby given that the deadline for filing protests with regard to the applicant’s request for blanket authorization, under 18 CFR part 34, of future issuances of securities and assumptions of liability, is March 3, 2020. The Commission encourages electronic submission of protests and interventions in lieu of paper, using the FERC Online links at https:// www.ferc.gov. To facilitate electronic service, persons with internet access who will eFile a document and/or be listed as a contact for an intervenor must create and validate an eRegistration account using the eRegistration link. Select the eFiling link to log on and submit the intervention or protests. Persons unable to file electronically should submit an original and 5 copies of the intervention or protest to the Federal Energy Regulatory Commission, 888 First Street NE, Washington, DC 20426. VerDate Sep<11>2014 17:51 Feb 18, 2020 Jkt 250001 The filings in the above-referenced proceeding are accessible in the Commission’s eLibrary system by clicking on the appropriate link in the above list. They are also available for electronic review in the Commission’s Public Reference Room in Washington, DC. There is an eSubscription link on the website that enables subscribers to receive email notification when a document is added to a subscribed docket(s). For assistance with any FERC Online service, please email FERCOnlineSupport@ferc.gov. or call (866) 208–3676 (toll free). For TTY, call (202) 502–8659. Dated: February 12, 2020. Kimberly D. Bose, Secretary. [FR Doc. 2020–03223 Filed 2–18–20; 8:45 am] BILLING CODE 6717–01–P 9471 send it by email to FHFA at RegComments@fhfa.gov to ensure timely receipt by the agency. • Mail/Hand Delivery: Federal Housing Finance Agency, Eighth Floor, 400 Seventh Street SW, Washington, DC 20219, ATTENTION: Proposed Collection; Comment Request: ‘‘Federal Home Loan Bank Capital Stock, (No. 2020–N–5).’’ We will post all public comments we receive without change, including any personal information you provide, such as your name and address, email address, and telephone number, on the FHFA website at https://www.fhfa.gov. In addition, copies of all comments received will be available for examination by the public through the electronic comment docket for this PRA Notice also located on the FHFA website. FOR FURTHER INFORMATION CONTACT: FEDERAL HOUSING FINANCE AGENCY [No. 2020–N–5] Proposed Collection; Comment Request Jonathan F. Curtis, Financial Analyst, Division of Federal Home Loan Bank Regulation, Jonathan.Curtis@fhfa.gov, (202) 649–3321; or Eric Raudenbush, Associate General Counsel, Eric.Raudenbush@fhfa.gov, (202) 649– 3084, (these are not toll-free numbers), Federal Housing Finance Agency, 400 Seventh Street SW, Washington, DC 20219. The Telecommunications Device for the Deaf is (800) 877–8339. SUPPLEMENTARY INFORMATION: Federal Housing Finance Agency. ACTION: Federal Home Loan Bank Capital Stock—60-day notice of submission of information collection for approval from Office of Management and Budget. A. Background In accordance with the requirements of the Paperwork Reduction Act of 1995 (PRA), the Federal Housing Finance Agency (FHFA) is seeking public comments concerning an information collection known as ‘‘Federal Home Loan Bank Capital Stock,’’ which has been assigned control number 2590–0002 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 April 30, 2020. DATES: Interested persons may submit comments on or before April 20, 2020. ADDRESSES: Submit comments to FHFA, identified by ‘‘Proposed Collection; Comment Request: ‘Federal Home Loan Bank Capital Stock, (No. 2020–N–5)’ ’’ by any of the following methods: • Agency Website: www.fhfa.gov/ open-for-comment-or-input. • 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 The Federal Home Loan Bank System consists of eleven regional Federal Home Loan Banks (Banks) and the Office of Finance (a joint office that issues and services the Banks’ debt securities). The Banks are wholesale financial institutions, organized under authority of the Federal Home Loan Bank Act (Bank Act) to serve the public interest by enhancing the availability of residential housing finance and community lending credit through their member institutions and, to a limited extent, through certain eligible nonmembers. Each Bank is structured as a regional cooperative that is owned and controlled by member institutions located within its district, which are also its primary customers. An institution that is eligible for membership in a particular Bank must purchase and hold a prescribed minimum amount of the Bank’s capital stock in order to become and remain a member of that Bank. With limited exceptions, only an institution that is a member of a Bank may obtain access to low cost secured loans, known as advances, or other products provided by that Bank. AGENCY: SUMMARY: PO 00000 Frm 00021 Fmt 4703 Sfmt 4703 E:\FR\FM\19FEN1.SGM 19FEN1 9472 Federal Register / Vol. 85, No. 33 / Wednesday, February 19, 2020 / Notices khammond on DSKJM1Z7X2PROD with NOTICES Section 6 of the Bank Act establishes capital requirements for the Banks and requires FHFA to issue regulations prescribing uniform capital standards applicable to all of the Banks.1 Section 6 also establishes parameters relating to the Banks’ capital structures and requires that each Bank adopt a ‘‘capital structure plan’’ (capital plan) to establish, within those statutory parameters, its own capital structure and to establish requirements for, and govern transactions in, the Bank’s capital stock.2 FHFA’s regulations on Bank Capital Requirements, Capital Stock, and Capital Plans are located at 12 CFR part 1277. B. Need For and Use of the Information Collection Both the Bank Act and FHFA’s regulations state that a Bank’s capital plan must require its members to maintain a minimum investment in the Bank’s capital stock, but both permit each Bank to determine for itself what that minimum investment is and how each member’s required minimum investment is to be calculated.3 Although each Bank’s capital plan establishes a slightly different method for calculating the required minimum stock investment for its members, each Bank’s method is tied to some degree to both the level of assets held by the member institution (typically referred to as a ‘‘membership stock purchase requirement’’) and the amount of advances or other business engaged in between the member and the Bank (typically referred to as an ‘‘activitybased stock purchase requirement’’). A Bank must collect information from its members to determine the minimum capital stock investment each member is required to maintain at any point in time. Although the information needed to calculate a member’s required minimum investment and the precise method through which it is collected differ somewhat from Bank to Bank, the Banks typically collect two types of information. First, in order to calculate and monitor compliance with its membership stock purchase requirement, a Bank typically requires each member to provide and/or confirm an annual report on the amount and types of assets held by that institution. Second, each time a Bank engages in a business transaction with a member, the Bank typically confirms with the member the amount of additional Bank capital stock, if any, the member must 1 See 12 U.S.C. 1426(a). 12 U.S.C. 1426(b), (c). 3 See 12 U.S.C. 1426(c)(1); 12 CFR 1277.22, 1277.28(a). 2 See VerDate Sep<11>2014 17:51 Feb 18, 2020 Jkt 250001 acquire in order to satisfy the Bank’s activity-based stock purchase requirement and the method through which the member will acquire that stock. The OMB number for the information collection is 2590–0002, which is due to expire on April 30, 2020. The likely respondents include current and former Bank members and institutions applying for Bank membership. 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. C. Burden Estimate FHFA has analyzed the time burden imposed on respondents by the two collections under this control number and estimates that the average total annual hour burden imposed on all respondents over the next three years will be 15,045 hours. The estimate for each collection was calculated as follows: Dated: February 11, 2020. Kevin Winkler, Chief Information Officer, Federal Housing Finance Agency. 1. Membership Stock Purchase Requirement Submissions FHFA estimates that the average annual number of current and former members and applicants for membership required to report information needed to calculate a membership stock purchase requirement will be 6,950, and that each institution will submit one report per year, resulting in an estimated total of 6,950 submissions annually. The estimate for the average time required to prepare, review, and submit each report is 0.5 hours. Accordingly, the estimate for the annual hour burden associated with membership stock purchase requirement submissions is (6,950 reports × 0.5 hours per report) = 3,475 hours. 2. Activity-Based Stock Purchase Requirement Submissions FHFA estimates that the average number of daily transactions between Banks and members that will require the exchange of information to confirm the member’s activity-based stock purchase requirement will be 341, and that there will be an average of 261 working days per year, resulting in an estimated 89,001 submissions annually. The estimate for the average preparation time per submission is 0.13 hours. Accordingly, the estimate for the annual hour burden associated with activitybased stock purchase requirement submissions is (89,001 submissions × 0.13 hours per submission) = 11,570 hours. D. Comment Request FHFA requests written comments on the following: (1) Whether the collection of information is necessary for the proper performance of FHFA functions, PO 00000 Frm 00022 Fmt 4703 Sfmt 4703 [FR Doc. 2020–03242 Filed 2–18–20; 8:45 am] BILLING CODE 8070–01–P 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, if any, are available for immediate inspection at the Federal Reserve Bank indicated. The applications will also be available for inspection at the offices of the Board of Governors. Interested persons may express their views in writing on the standards enumerated in the BHC Act (12 U.S.C. 1842(c)). Comments regarding each of these applications must be received at the Reserve Bank indicated or the offices of the Board of Governors, Ann E. Misback, Secretary of the Board, 20th Street and Constitution Avenue NW, Washington, DC 20551–0001, not later than March 19, 2020. A. Federal Reserve Bank of Atlanta (Kathryn Haney, Assistant Vice President) 1000 Peachtree Street NE, Atlanta, Georgia 30309. Comments can also be sent electronically to Applications.Comments@atl.frb.org: 1. Community Bancshares of Mississippi, Inc. Employee Stock Ownership Plan, Brandon, Mississippi; to acquire additional voting shares, for a total of 18.75 percent of the voting E:\FR\FM\19FEN1.SGM 19FEN1

Agencies

[Federal Register Volume 85, Number 33 (Wednesday, February 19, 2020)]
[Notices]
[Pages 9471-9472]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-03242]


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FEDERAL HOUSING FINANCE AGENCY

[No. 2020-N-5]


Proposed Collection; Comment Request

AGENCY: Federal Housing Finance Agency.

ACTION: Federal Home Loan Bank Capital Stock--60-day notice of 
submission of information collection for approval from Office of 
Management and Budget.

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

SUMMARY: In accordance with the requirements of the Paperwork Reduction 
Act of 1995 (PRA), the Federal Housing Finance Agency (FHFA) is seeking 
public comments concerning an information collection known as ``Federal 
Home Loan Bank Capital Stock,'' which has been assigned control number 
2590-0002 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 
April 30, 2020.

DATES: Interested persons may submit comments on or before April 20, 
2020.

ADDRESSES: Submit comments to FHFA, identified by ``Proposed 
Collection; Comment Request: `Federal Home Loan Bank Capital Stock, 
(No. 2020-N-5)' '' by any of the following methods:
     Agency Website: www.fhfa.gov/open-for-comment-or-input.
     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 email 
to FHFA at [email protected] to ensure timely receipt by the agency.
     Mail/Hand Delivery: Federal Housing Finance Agency, Eighth 
Floor, 400 Seventh Street SW, Washington, DC 20219, ATTENTION: Proposed 
Collection; Comment Request: ``Federal Home Loan Bank Capital Stock, 
(No. 2020-N-5).''
    We will post all public comments we receive without change, 
including any personal information you provide, such as your name and 
address, email address, and telephone number, on the FHFA website at 
https://www.fhfa.gov. In addition, copies of all comments received will 
be available for examination by the public through the electronic 
comment docket for this PRA Notice also located on the FHFA website.

FOR FURTHER INFORMATION CONTACT: Jonathan F. Curtis, Financial Analyst, 
Division of Federal Home Loan Bank Regulation, 
[email protected], (202) 649-3321; or Eric Raudenbush, Associate 
General Counsel, [email protected], (202) 649-3084, (these are 
not toll-free numbers), Federal Housing Finance Agency, 400 Seventh 
Street SW, Washington, DC 20219. The Telecommunications Device for the 
Deaf is (800) 877-8339.

SUPPLEMENTARY INFORMATION: 

A. Background

    The Federal Home Loan Bank System consists of eleven regional 
Federal Home Loan Banks (Banks) and the Office of Finance (a joint 
office that issues and services the Banks' debt securities). The Banks 
are wholesale financial institutions, organized under authority of the 
Federal Home Loan Bank Act (Bank Act) to serve the public interest by 
enhancing the availability of residential housing finance and community 
lending credit through their member institutions and, to a limited 
extent, through certain eligible nonmembers. Each Bank is structured as 
a regional cooperative that is owned and controlled by member 
institutions located within its district, which are also its primary 
customers. An institution that is eligible for membership in a 
particular Bank must purchase and hold a prescribed minimum amount of 
the Bank's capital stock in order to become and remain a member of that 
Bank. With limited exceptions, only an institution that is a member of 
a Bank may obtain access to low cost secured loans, known as advances, 
or other products provided by that Bank.

[[Page 9472]]

    Section 6 of the Bank Act establishes capital requirements for the 
Banks and requires FHFA to issue regulations prescribing uniform 
capital standards applicable to all of the Banks.\1\ Section 6 also 
establishes parameters relating to the Banks' capital structures and 
requires that each Bank adopt a ``capital structure plan'' (capital 
plan) to establish, within those statutory parameters, its own capital 
structure and to establish requirements for, and govern transactions 
in, the Bank's capital stock.\2\ FHFA's regulations on Bank Capital 
Requirements, Capital Stock, and Capital Plans are located at 12 CFR 
part 1277.
---------------------------------------------------------------------------

    \1\ See 12 U.S.C. 1426(a).
    \2\ See 12 U.S.C. 1426(b), (c).
---------------------------------------------------------------------------

B. Need For and Use of the Information Collection

    Both the Bank Act and FHFA's regulations state that a Bank's 
capital plan must require its members to maintain a minimum investment 
in the Bank's capital stock, but both permit each Bank to determine for 
itself what that minimum investment is and how each member's required 
minimum investment is to be calculated.\3\ Although each Bank's capital 
plan establishes a slightly different method for calculating the 
required minimum stock investment for its members, each Bank's method 
is tied to some degree to both the level of assets held by the member 
institution (typically referred to as a ``membership stock purchase 
requirement'') and the amount of advances or other business engaged in 
between the member and the Bank (typically referred to as an 
``activity-based stock purchase requirement'').
---------------------------------------------------------------------------

    \3\ See 12 U.S.C. 1426(c)(1); 12 CFR 1277.22, 1277.28(a).
---------------------------------------------------------------------------

    A Bank must collect information from its members to determine the 
minimum capital stock investment each member is required to maintain at 
any point in time. Although the information needed to calculate a 
member's required minimum investment and the precise method through 
which it is collected differ somewhat from Bank to Bank, the Banks 
typically collect two types of information. First, in order to 
calculate and monitor compliance with its membership stock purchase 
requirement, a Bank typically requires each member to provide and/or 
confirm an annual report on the amount and types of assets held by that 
institution. Second, each time a Bank engages in a business transaction 
with a member, the Bank typically confirms with the member the amount 
of additional Bank capital stock, if any, the member must acquire in 
order to satisfy the Bank's activity-based stock purchase requirement 
and the method through which the member will acquire that stock.
    The OMB number for the information collection is 2590-0002, which 
is due to expire on April 30, 2020. The likely respondents include 
current and former Bank members and institutions applying for Bank 
membership.

C. Burden Estimate

    FHFA has analyzed the time burden imposed on respondents by the two 
collections under this control number and estimates that the average 
total annual hour burden imposed on all respondents over the next three 
years will be 15,045 hours. The estimate for each collection was 
calculated as follows:

1. Membership Stock Purchase Requirement Submissions

    FHFA estimates that the average annual number of current and former 
members and applicants for membership required to report information 
needed to calculate a membership stock purchase requirement will be 
6,950, and that each institution will submit one report per year, 
resulting in an estimated total of 6,950 submissions annually. The 
estimate for the average time required to prepare, review, and submit 
each report is 0.5 hours. Accordingly, the estimate for the annual hour 
burden associated with membership stock purchase requirement 
submissions is (6,950 reports x 0.5 hours per report) = 3,475 hours.

2. Activity-Based Stock Purchase Requirement Submissions

    FHFA estimates that the average number of daily transactions 
between Banks and members that will require the exchange of information 
to confirm the member's activity-based stock purchase requirement will 
be 341, and that there will be an average of 261 working days per year, 
resulting in an estimated 89,001 submissions annually. The estimate for 
the average preparation time per submission is 0.13 hours. Accordingly, 
the estimate for the annual hour burden associated with activity-based 
stock purchase requirement submissions is (89,001 submissions x 0.13 
hours per submission) = 11,570 hours.

D. 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: February 11, 2020.
Kevin Winkler,
Chief Information Officer, Federal Housing Finance Agency.
[FR Doc. 2020-03242 Filed 2-18-20; 8:45 am]
 BILLING CODE 8070-01-P
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