Proposed Collection; Comment Request, 17886-17888 [2020-06686]
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Federal Register / Vol. 85, No. 62 / Tuesday, March 31, 2020 / Notices
BILLING CODE 8070–01–C
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FEDERAL HOUSING FINANCE
AGENCY
[No. 2020–N–6]
Proposed Collection; Comment
Request
AGENCY:
Federal Housing Finance
Agency.
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Jkt 250001
Members of Federal Home Loan
Banks—30-day notice of submission of
information collection for approval from
Office of Management and Budget.
ACTION:
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 ‘‘Members of the Banks,’’
which has been assigned control
number 2590–0003 by the Office of
SUMMARY:
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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 March 31, 2020.
Interested persons may submit
comments on or before April 30, 2020.
DATES:
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,
ADDRESSES:
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[FR Doc. 2020–06683 Filed 3–30–20; 8:45 am]
Federal Register / Vol. 85, No. 62 / Tuesday, March 31, 2020 / Notices
Washington, DC 20503, Fax: (202) 395–
3047, Email: OIRA_submission@
omb.eop.gov. Please also submit
comments to FHFA, identified by
‘‘Proposed Collection; Comment
Request: ‘Members of the Banks, (No.
2020–N–6)’’’ 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
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:
‘‘Members of the Banks, (No. 2020–N–
6).’’
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, 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:
jbell on DSKJLSW7X2PROD with NOTICES
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 of the
Banks that issues and services the
Banks’ debt securities). The Banks are
wholesale financial institutions,
organized under the 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
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19:01 Mar 30, 2020
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is owned and controlled by member
institutions located within its district,
which are also its primary customers.
The Banks carry out their public policy
functions primarily by providing low
cost loans, known as advances, to their
members. With limited exceptions, an
institution may obtain advances and
access other products and services
provided by a Bank only if it is a
member of that Bank.
The Bank Act limits membership in
any Bank to specific types of financial
institutions located within the Bank’s
district that meet specific eligibility
requirements. Section 4 of the Bank Act
specifies the types of institutions that
may be eligible for membership and
establishes eligibility requirements that
each type of applicant must meet in
order to become a Bank member.1 That
provision also specifies that (with
limited exceptions) an eligible
institution may become a member only
of the Bank of the district in which the
institution’s ‘‘principal place of
business’’ is located.2 With respect to
the termination of Bank membership,
section 6(d) of the Bank Act sets forth
requirements pursuant to which an
institution may voluntarily withdraw
from membership or a Bank may
terminate an institution’s membership
for cause.3
B. Need For and Use of the Information
Collection
FHFA’s regulation entitled ‘‘Members
of the Banks,’’ located at 12 CFR part
1263, implements the statutory
provisions on Bank membership and
otherwise establishes substantive and
procedural requirements relating to the
initiation and termination of
membership. Many of the provisions in
the membership regulation require that
an institution submit information to a
Bank or to FHFA, in most cases to
demonstrate compliance with statutory
or regulatory requirements or to request
action by the Bank or Agency.
There are four types of information
collections that may occur under part
1263. First, the regulation provides that
(with limited exceptions) no institution
may become a member of a Bank unless
it has submitted to that Bank an
application that documents the
applicant’s compliance with the
statutory and regulatory membership
eligibility requirements and that
otherwise includes all required
information and materials.4 Second, the
1 See
12 U.S.C. 1424(a).
12 U.S.C. 1424(b).
3 See 12 U.S.C. 1426(d).
4 See 12 CFR 1263.2(a), 1263.6–1263.9, 1263.11–
1263.18.
regulation provides applicants that have
been denied membership by a Bank the
option of appealing the decision to
FHFA. To file such an appeal, an
applicant must submit to FHFA a copy
of the Bank’s decision resolution
denying its membership application and
a statement of the basis for the appeal
containing sufficient facts, information,
and analysis to support the applicant’s
position.5 Third, the regulation provides
that, in order to initiate a voluntary
withdrawal from Bank membership, a
member must submit to its Bank a
written notice of intent to withdraw.6
Fourth, under certain circumstances, the
regulation permits a member of one
Bank to transfer its membership to a
second Bank ‘‘automatically’’ without
either initiating a voluntary withdrawal
from the first Bank or submitting a
membership application to the second
Bank. Despite the regulatory reference to
such a transfer as being ‘‘automatic,’’ a
member meeting the criteria for an
automatic transfer must initiate the
transfer process by filing a request with
its current Bank, which will then
arrange the details of the transfer with
the second Bank.7
The Banks use most of the
information collected under part 1263 to
determine whether an applicant satisfies
the statutory and regulatory
requirements for Bank membership and
should be approved as a Bank member.
The Banks may use some of the
information collected under part 1263
as a means of learning that a member
wishes to withdraw or to transfer its
membership to a different Bank so that
the Bank can begin to process those
requests. In rare cases, FHFA may use
the collected information to determine
whether an institution that has been
denied membership by a Bank should
be permitted to become a member of
that Bank.
The OMB control number for this
information collection is 2590–0003,
which is due to expire on March 31,
2020. The likely respondents are
financial institutions that are, or are
applying to become, Bank members.
C. Burden Estimate
FHFA has analyzed the time burden
imposed on respondents by the four
collections under this control number
and estimates that the average annual
burden imposed on all respondents by
those collections over the next three
years will be 2,188 hours. This estimate
is derived from the following
calculations:
2 See
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17887
5 See
12 CFR 1263.5.
12 CFR 1263.26.
7 See 12 CFR 1263.4(b), 1263.18(d), (e).
6 See
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17888
Federal Register / Vol. 85, No. 62 / Tuesday, March 31, 2020 / Notices
1. Membership Applications
FHFA estimates that the average
number of applications for Bank
membership submitted annually will be
144 and that the average time to prepare
and submit an application and
supporting materials will be 15 hours.
Accordingly, the estimate for the annual
hour burden associated with
preparation and submission of
applications for Bank membership is
(144 applications × 15 hours per
application) = 2,160 hours.
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.
2. Appeals of Membership Denials
FHFA estimates that the average
number of applicants that have been
denied membership by a Bank that will
appeal such a denial to FHFA will be 1
and that the average time to prepare and
submit an application for appeal will be
10 hours. Accordingly, the estimate for
the annual hour burden associated with
the preparation and submission of
membership appeals is (1 appellants ×
10 hours per application) = 10 hours.
Robert Winkler,
Chief Information Officer, Federal Housing
Finance Agency.
3. Notices of Intent to Withdraw from
Membership
FHFA estimates that the average
number of Bank members submitting a
notice of intent to withdraw from
membership annually will be 5 and that
the average time to prepare and submit
a notice will be 1.5 hours. Accordingly,
the estimate for the annual hour burden
associated with preparation and
submission of notices of intent to
withdraw is (5 withdrawing members ×
1.5 hours per application) = 7.5,
rounded to 8 hours.
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4. Requests for Transfer of Membership
to Another Bank District
FHFA estimates that the average
number of Bank members submitting a
request for transfer to another Bank will
be 5 and that the average time to prepare
and submit a request will be 2 hours.
Accordingly, the estimate for the annual
hour burden associated with
preparation and submission of requests
for automatic transfer is (5 transferring
members × 2 hours per request) = 10
hours.
D. Comment Request
In accordance with the requirements
of 5 CFR 1320.8(d), FHFA published an
initial notice and request for public
comments regarding this information
collection in the Federal Register on
January 22, 2020.8 The 60-day comment
period closed on March 23, 2020. FHFA
received no comments.
FHFA requests written comments on
the following: (1) Whether the collection
8 See
85 FR 3683 (Jan. 22, 2020).
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[FR Doc. 2020–06686 Filed 3–30–20; 8:45 am]
BILLING CODE 8070–01–P
FEDERAL RESERVE SYSTEM
Agency Information Collection
Activities: Announcement of Board
Approval Under Delegated Authority
and Submission to OMB
Board of Governors of the
Federal Reserve System.
ACTION: Temporary approval of
information collection.
AGENCY:
The Board of Governors of the
Federal Reserve System (Board) has
temporarily revised the Financial
Statements for Holding Companies
pursuant to the authority delegated to
the Board by the Office of Management
and Budget (OMB). The revisions are
applicable only to reports reflecting the
March 31, 2020, as of date.
FOR FURTHER INFORMATION CONTACT: A
copy of the Paperwork Reduction Act
(PRA) OMB submission, including the
reporting form and instructions,
supporting statement, and other
documentation will be placed into
OMB’s public docket files, if approved.
These documents will also be made
available on the Board’s public website
at https://www.federalreserve.gov/apps/
reportforms/review.aspx or may be
requested from the agency clearance
officer, whose name appears below.
Federal Reserve Board Clearance
Officer—Nuha Elmaghrabi—Office of
the Chief Data Officer, Board of
Governors of the Federal Reserve
System, Washington, DC 20551, (202)
452–3829.
SUPPLEMENTARY INFORMATION: On June
15, 1984, OMB delegated to the Board
authority under the PRA to temporarily
approve a revision to a collection of
information without providing
opportunity for public comment if the
Board determines that a change in an
existing collection must be instituted
SUMMARY:
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quickly and that public participation in
the approval process would defeat the
purpose of the collection or
substantially interfere with the Board’s
ability to perform its statutory
obligation.
The Board’s delegated authority
requires that the Board, after
temporarily approving a collection,
solicit public comment on a proposal to
extend the temporary collection for a
period not to exceed three years.
However, as discussed below, the Board
does not intend to solicit comment on
such a proposal with respect to these
temporary revisions, as the Board, after
soliciting comment, has separately
approved identical revisions that would
apply to reports subsequent to those
affected by the temporary revisions.
Final Approval Under OMB Delegated
Authority of the Temporary Revision of
the Following Information Collection
Report title: Financial Statements for
Holding Companies.
Agency form number: FR Y–9C; FR Y–
9LP; FR Y–9SP; FR Y–9ES; FR Y–9CS.
OMB control number: 7100–0128.
Effective date: March 31, 2020.
Frequency: Quarterly, semiannually,
and annually.
Affected public: Businesses or other
for-profit.
Respondents: Bank holding
companies (BHCs), savings and loan
holding companies (SLHCs),1 securities
holding companies (SHCs), and U.S.
intermediate holding companies (IHCs)
(collectively, holding companies (HCs)).
Estimated number of respondents:
FR Y–9C (non-advanced approaches
(AA) HCs community bank leverage
ratio (CBLR)) with less than $5 billion
in total assets—71,
FR Y–9C (non AA HCs CBLR) with $5
billion or more in total assets—35,
FR Y–9C (non AA HCs non-CBLR)
with less than $5 billion in total assets—
84,
FR Y–9C (non AA HCs non-CBLR)
with $5 billion or more in total assets—
154,
FR Y–9C (AA HCs)—19,
FR Y–9LP—434,
FR Y–9SP—3,960,
FR Y–9ES—83,
FR Y–9CS—236.
Estimated average hours per response:
1 An SLHC must file one or more of the FR Y–
9 family of reports unless it is: (1) A grandfathered
unitary SLHC with primarily commercial assets and
thrifts that make up less than 5 percent of its
consolidated assets; or (2) a SLHC that primarily
holds insurance-related assets and does not
otherwise submit financial reports with the SEC
pursuant to section 13 or 15(d) of the Securities
Exchange Act of 1934.
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]]>Agencies
[Federal Register Volume 85, Number 62 (Tuesday, March 31, 2020)]
[Notices]
[Pages 17886-17888]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-06686]
-----------------------------------------------------------------------
FEDERAL HOUSING FINANCE AGENCY
[No. 2020-N-6]
Proposed Collection; Comment Request
AGENCY: Federal Housing Finance Agency.
ACTION: Members of Federal Home Loan Banks--30-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 ``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 March 31,
2020.
DATES: Interested persons may submit comments on or before April 30,
2020.
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 Agency,
[[Page 17887]]
Washington, DC 20503, Fax: (202) 395-3047, Email:
[email protected]. Please also submit comments to FHFA,
identified by ``Proposed Collection; Comment Request: `Members of the
Banks, (No. 2020-N-6)''' 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: ``Members of the Banks, (No. 2020-N-6).''
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 of the Banks that issues and services the Banks' debt
securities). The Banks are wholesale financial institutions, organized
under the 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. The Banks carry out
their public policy functions primarily by providing low cost loans,
known as advances, to their members. With limited exceptions, an
institution may obtain advances and access other products and services
provided by a Bank only if it is a member of that Bank.
The Bank Act limits membership in any Bank to specific types of
financial institutions located within the Bank's district that meet
specific eligibility requirements. Section 4 of the Bank Act specifies
the types of institutions that may be eligible for membership and
establishes eligibility requirements that each type of applicant must
meet in order to become a Bank member.\1\ That provision also specifies
that (with limited exceptions) an eligible institution may become a
member only of the Bank of the district in which the institution's
``principal place of business'' is located.\2\ With respect to the
termination of Bank membership, section 6(d) of the Bank Act sets forth
requirements pursuant to which an institution may voluntarily withdraw
from membership or a Bank may terminate an institution's membership for
cause.\3\
---------------------------------------------------------------------------
\1\ See 12 U.S.C. 1424(a).
\2\ See 12 U.S.C. 1424(b).
\3\ See 12 U.S.C. 1426(d).
---------------------------------------------------------------------------
B. Need For and Use of the Information Collection
FHFA's regulation entitled ``Members of the Banks,'' located at 12
CFR part 1263, implements the statutory provisions on Bank membership
and otherwise establishes substantive and procedural requirements
relating to the initiation and termination of membership. Many of the
provisions in the membership regulation require that an institution
submit information to a Bank or to FHFA, in most cases to demonstrate
compliance with statutory or regulatory requirements or to request
action by the Bank or Agency.
There are four types of information collections that may occur
under part 1263. First, the regulation provides that (with limited
exceptions) no institution may become a member of a Bank unless it has
submitted to that Bank an application that documents the applicant's
compliance with the statutory and regulatory membership eligibility
requirements and that otherwise includes all required information and
materials.\4\ Second, the regulation provides applicants that have been
denied membership by a Bank the option of appealing the decision to
FHFA. To file such an appeal, an applicant must submit to FHFA a copy
of the Bank's decision resolution denying its membership application
and a statement of the basis for the appeal containing sufficient
facts, information, and analysis to support the applicant's
position.\5\ Third, the regulation provides that, in order to initiate
a voluntary withdrawal from Bank membership, a member must submit to
its Bank a written notice of intent to withdraw.\6\ Fourth, under
certain circumstances, the regulation permits a member of one Bank to
transfer its membership to a second Bank ``automatically'' without
either initiating a voluntary withdrawal from the first Bank or
submitting a membership application to the second Bank. Despite the
regulatory reference to such a transfer as being ``automatic,'' a
member meeting the criteria for an automatic transfer must initiate the
transfer process by filing a request with its current Bank, which will
then arrange the details of the transfer with the second Bank.\7\
---------------------------------------------------------------------------
\4\ See 12 CFR 1263.2(a), 1263.6-1263.9, 1263.11-1263.18.
\5\ See 12 CFR 1263.5.
\6\ See 12 CFR 1263.26.
\7\ See 12 CFR 1263.4(b), 1263.18(d), (e).
---------------------------------------------------------------------------
The Banks use most of the information collected under part 1263 to
determine whether an applicant satisfies the statutory and regulatory
requirements for Bank membership and should be approved as a Bank
member. The Banks may use some of the information collected under part
1263 as a means of learning that a member wishes to withdraw or to
transfer its membership to a different Bank so that the Bank can begin
to process those requests. In rare cases, FHFA may use the collected
information to determine whether an institution that has been denied
membership by a Bank should be permitted to become a member of that
Bank.
The OMB control number for this information collection is 2590-
0003, which is due to expire on March 31, 2020. The likely respondents
are financial institutions that are, or are applying to become, Bank
members.
C. Burden Estimate
FHFA has analyzed the time burden imposed on respondents by the
four collections under this control number and estimates that the
average annual burden imposed on all respondents by those collections
over the next three years will be 2,188 hours. This estimate is derived
from the following calculations:
[[Page 17888]]
1. Membership Applications
FHFA estimates that the average number of applications for Bank
membership submitted annually will be 144 and that the average time to
prepare and submit an application and supporting materials will be 15
hours. Accordingly, the estimate for the annual hour burden associated
with preparation and submission of applications for Bank membership is
(144 applications x 15 hours per application) = 2,160 hours.
2. Appeals of Membership Denials
FHFA estimates that the average number of applicants that have been
denied membership by a Bank that will appeal such a denial to FHFA will
be 1 and that the average time to prepare and submit an application for
appeal will be 10 hours. Accordingly, the estimate for the annual hour
burden associated with the preparation and submission of membership
appeals is (1 appellants x 10 hours per application) = 10 hours.
3. Notices of Intent to Withdraw from Membership
FHFA estimates that the average number of Bank members submitting a
notice of intent to withdraw from membership annually will be 5 and
that the average time to prepare and submit a notice will be 1.5 hours.
Accordingly, the estimate for the annual hour burden associated with
preparation and submission of notices of intent to withdraw is (5
withdrawing members x 1.5 hours per application) = 7.5, rounded to 8
hours.
4. Requests for Transfer of Membership to Another Bank District
FHFA estimates that the average number of Bank members submitting a
request for transfer to another Bank will be 5 and that the average
time to prepare and submit a request will be 2 hours. Accordingly, the
estimate for the annual hour burden associated with preparation and
submission of requests for automatic transfer is (5 transferring
members x 2 hours per request) = 10 hours.
D. Comment Request
In accordance with the requirements of 5 CFR 1320.8(d), FHFA
published an initial notice and request for public comments regarding
this information collection in the Federal Register on January 22,
2020.\8\ The 60-day comment period closed on March 23, 2020. FHFA
received no comments.
---------------------------------------------------------------------------
\8\ See 85 FR 3683 (Jan. 22, 2020).
---------------------------------------------------------------------------
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.
Robert Winkler,
Chief Information Officer, Federal Housing Finance Agency.
[FR Doc. 2020-06686 Filed 3-30-20; 8:45 am]
BILLING CODE 8070-01-P
