Proposed Collection; Comment Request, 38051-38053 [2023-12445]
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Federal Register / Vol. 88, No. 112 / Monday, June 12, 2023 / Notices
information technology. Pursuant to the
Small Business Paperwork Relief Act of
2002, Public Law 107–198, see 44 U.S.C.
3506(c)(4), the FCC seeks specific
comment on how it might ‘‘further
reduce the information collection
burden for small business concerns with
fewer than 25 employees.’’
OMB Control No.: 3060–1275.
Title: 3.7 GHz Band Relocation
Payment Clearinghouse; 3.7 GHz Band
Relocation Coordinator; 3.7 GHz Band
Space Station Operators.
Form No.: N/A.
Type of Review: Extension of a
currently approved collection.
Respondents: Business or other forprofit entities; not-for-profit institutions;
State, local or Tribal government.
Number of Respondents and
Responses: 3,007 respondents and 9,362
responses.
Estimated Time per Response: 0.5
hours–600 hours.
Frequency of Response:
Recordkeeping requirement; on
occasion, weekly, monthly, quarterly,
semi-annual, and annual reporting
requirements; third party disclosure
requirement.
Obligation to Respond: Required to
obtain or retain benefits. The statutory
authority for this collection of
information is contained in sections 1,
2, 4(i), 4(j), 5(c), 201, 302, 303, 304,
307(e), 309, and 316 of the
Communications Act of 1934, as
amended, 47 U.S.C. 151, 152, 154(i),
154(j), 155(c), 201, 302, 303, 304, 307(e),
309, and 316.
Total Annual Burden: 77,754 hours.
Annual Cost Burden: $10,705,353.
Needs and Uses: On February 28,
2020, in furtherance of the goal of
releasing more mid-band spectrum into
the market to support and enabling
next-generation wireless networks, the
Commission adopted a Report and
Order, FCC 20–22, (3.7 GHz Report and
Order), in which it reformed the use of
the 3.7–4.2 GHz band, also known as the
C-band. Currently, the 3.7–4.2 GHz band
is allocated in the United States
exclusively for non-Federal use on a
primary basis for Fixed Satellite Service
(FSS) and Fixed Service (FS).
Domestically, space station operators
use the 3.7–4.2 GHz band to provide
downlink signals of various bandwidths
to licensed transmit-receive, registered
receive-only, and unregistered receiveonly earth stations throughout the
United States.
The 3.7 GHz Report and Order calls
for the relocation of existing FSS
operations in the band into the upper
200 megahertz of the band (4.0–4.2 GHz)
and relocation of existing FS operations
into other bands, making the lower 280
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megahertz (3.7–3.98 GHz) available for
flexible use throughout the contiguous
United States through a Commissionadministered public auction of overlay
licenses that is scheduled to occur later
this year. The Commission adopted a
robust transition schedule to achieve a
prompt relocation of FSS and FS
operations so that a significant amount
of spectrum could be made available
quickly for next-generation wireless
deployments. At the same time, the
Commission sought to ensure the
effective accommodation of relocated
incumbent users. To facilitate an
efficient transition, the Commission
adopted a process for fully reimbursing
existing operators for the costs of this
relocation and for offering accelerated
relocation payments to encourage a
timely transition. Flexible-use licensees
will be required to pay any accelerated
relocation payments, if elected by
eligible space station operators, and
reimburse incumbent operators for their
actual relocation costs associated with
clearing the lower 300 megahertz of the
band while ensuring continued
operations for their customers. The 3.7
GHZ Report and Order establishes a
Relocation Payment Clearinghouse to
oversee the cost-related aspects of the
transition and establishes a Relocation
Coordinator to establish a timeline and
take actions necessary to migrate and
filter incumbent earth stations to ensure
continued, uninterrupted service during
and following the transition.
FCC staff will use this data to ensure
that 3.7–4.2 GHz band stakeholders
adopt practices and standards in their
operations to ensure an effective,
efficient, and streamlined transition.
Status reports and other information
required in this collection will be used
to ensure that the process of clearing the
lower portion of the band is efficient
and timely, so that the spectrum can be
auctioned for flexible-use service
licenses and deployed for nextgeneration wireless services, including
5G, as quickly as possible. The
collection is also necessary for the
Commission to satisfy its oversight
responsibilities and/or agency specific/
Government-wide reporting obligations.
The Commission concluded in the 3.7
GHz Report and Order that a Relocation
Payment Clearinghouse and Relocation
Coordinator are critical to ensuring that
the reconfiguration is administered in a
fair, transparent manner and that the
transition occurs as expeditiously as
possible. To accomplish these goals
most effectively, the Commission is
seeking approval for a new information
collection to collect information from
the Relocation Payment Clearinghouse,
the Relocation Coordinator, and
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38051
incumbent space station operators and
allow the Relocation Payment
Clearinghouse and Relocation
Coordinator to collection information to
ensure that the band is transitioned
effectively.
Federal Communications Commission.
Marlene Dortch,
Secretary, Office of the Secretary.
[FR Doc. 2023–12484 Filed 6–9–23; 8:45 am]
BILLING CODE 6712–01–P
FEDERAL HOUSING FINANCE
AGENCY
[No. 2023–N–8]
Proposed Collection; Comment
Request
Federal Housing Finance
Agency.
ACTION: 60-Day notice of submission of
information collection for approval from
Office of Management and Budget.
AGENCY:
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 September 30, 2023.
DATES: Interested persons may submit
comments on or before August 11, 2023.
ADDRESSES: Submit comments to FHFA,
identified by ‘‘Proposed Collection;
Comment Request: ‘Members of the
Banks, (No. 2023–N–8)’ ’’ 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, Office of
General Counsel, 400 Seventh Street
SW, Washington, DC 20219,
ATTENTION: Proposed Collection;
Comment Request: ‘‘Members of the
Banks, (No. 2023–N–8).’’
We will post all public comments we
receive without change, including any
SUMMARY:
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38052
Federal Register / Vol. 88, No. 112 / Monday, June 12, 2023 / Notices
personal information you provide, such
as your name and address, email
address, and telephone number, on the
FHFA website at https://www.fhfa.gov.
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:
Lindsay Spadoni, Assistant General
Counsel, Lindsay.Spadoni@fhfa.gov,
(202) 649–3634 or Angela Supervielle,
Senior Counsel, Angela.Supervielle@
fhfa.gov, (202) 649–3973 (these are not
toll-free numbers). For TTY/TRS users
with hearing and speech disabilities,
dial 711 and ask to be connected to any
of the contact numbers above.
SUPPLEMENTARY INFORMATION:
ddrumheller on DSK120RN23PROD with NOTICES1
A. Paperwork Reduction Act
Under the PRA (44 U.S.C. 3501–
3520), Federal agencies must obtain
approval from OMB for each collection
of information they conduct or sponsor.
‘‘Collection of information’’ is defined
in 44 U.S.C. 3502(3) and 5 CFR
1320.3(c) to include agency requests or
requirements that ten or more persons
submit information to a third party.
Section 3506(c)(2)(A) of title 44 requires
Federal agencies to provide a 60-day
notice 1 in the Federal Register
concerning each proposed collection of
information, including each proposed
extension of an existing collection of
information, before submitting the
collection of information to OMB for
approval. FHFA’s collection of
information set forth in this document
is titled ‘‘Members of the Banks’’
(assigned control number 2590–0003 by
OMB). To comply with the PRA
requirement, FHFA is publishing notice
of a proposed three-year extension of
this collection of information and
reinstatement of the control number,
which is due to expire on September 30,
2023.
B. 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
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
1 Following
the close of this notice’s 60-day
comment period, FHFA will publish a second
notice with a 30-day comment period as required
by 44 U.S.C. 3507(b) and 5 CFR 1320.10(a).
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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.2 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.3 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.4
C. Need for and Use of the Information
Collection
FHFA’s ‘‘Members of the Banks’’
regulation, set forth at 12 CFR part 1263,
implements those statutory provisions
and otherwise establishes substantive
and procedural requirements relating to
the initiation and termination of Bank
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 FHFA.
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
2 See
12 U.S.C. 1424(a).
12 U.S.C. 1424(b).
4 See 12 U.S.C. 1426(d).
3 See
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Sfmt 4703
information and materials.5 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.6 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.7
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.8
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. FHFA may also 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 September 30,
2023. The likely respondents are
financial institutions that are, or are
applying to become, Bank members.
D. 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
5 See 12 CFR 1263.2(a), 1263.6–1263.9, 1263.11–
1263.18.
6 See 12 CFR 1263.5.
7 See 12 CFR 1263.26.
8 See 12 CFR 1263.4(b), 1263.18(d), (e).
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Federal Register / Vol. 88, No. 112 / Monday, June 12, 2023 / Notices
years will be 2,181 hours. This estimate
is derived from the following
calculations:
1. Membership Applications
FHFA estimates that the average
number of applications for Bank
membership submitted annually will be
141 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
(141 applications × 15 hours per
application) = 2,115 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
50 hours. Accordingly, the estimate for
the annual hour burden associated with
the preparation and submission of
membership appeals is (1 appellants ×
50 hours per application) = 50 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 4 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 (4 withdrawing members ×
1.5 hours per application) = 6 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
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
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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.
38053
1. Capital Funding Bancorp, Inc.,
Baltimore, Maryland; to engage de novo
in extending credit and servicing loans,
pursuant to section 225.28(b)(1) of the
Board’s Regulation Y.
Shawn Bucholtz,
Chief Data Officer, Federal Housing Finance
Agency.
Board of Governors of the Federal Reserve
System.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2023–12445 Filed 6–9–23; 8:45 am]
[FR Doc. 2023–12384 Filed 6–9–23; 8:45 am]
BILLING CODE 8070–01–P
BILLING CODE P
FEDERAL RESERVE SYSTEM
Notice of Proposals To Engage in or
To Acquire Companies Engaged in
Permissible Nonbanking Activities
The companies listed in this notice
have given notice under section 4 of the
Bank Holding Company Act (12 U.S.C.
1843) (BHC Act) and Regulation Y, (12
CFR part 225) to engage de novo, or to
acquire or control voting securities or
assets of a company, including the
companies listed below, that engages
either directly or through a subsidiary or
other company, in a nonbanking activity
that is listed in § 225.28 of Regulation Y
(12 CFR 225.28) or that the Board has
determined by Order to be closely
related to banking and permissible for
bank holding companies. Unless
otherwise noted, these activities will be
conducted throughout the United States.
The public portions of 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(s) indicated below and at
the offices of the Board of Governors.
This information may also be obtained
on an expedited basis, upon request, by
contacting the appropriate Federal
Reserve Bank and from the Board’s
Freedom of Information Office at
https://www.federalreserve.gov/foia/
request.htm. Interested persons may
express their views in writing on the
question whether the proposal complies
with the standards of section 4 of the
BHC Act.
Unless otherwise noted, comments
regarding the 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 June 26, 2023.
A. Federal Reserve Bank of Richmond
(Brent B. Hassell, Assistant Vice
President), P.O. Box 27622, Richmond,
Virginia 23261. Comments can also be
sent electronically to or
Comments.applications@rich.frb.org:
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Fmt 4703
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FEDERAL RESERVE SYSTEM
Change in Bank Control Notices;
Acquisitions of Shares of a Bank or
Bank Holding Company
The notificants listed below have
applied under the Change in Bank
Control Act (Act) (12 U.S.C. 1817(j)) and
§ 225.41 of the Board’s Regulation Y (12
CFR 225.41) to acquire shares of a bank
or bank holding company. The factors
that are considered in acting on the
applications are set forth in paragraph 7
of the Act (12 U.S.C. 1817(j)(7)).
The public portions of 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(s) indicated below and at
the offices of the Board of Governors.
This information may also be obtained
on an expedited basis, upon request, by
contacting the appropriate Federal
Reserve Bank and from the Board’s
Freedom of Information Office at
https://www.federalreserve.gov/foia/
request.htm. Interested persons may
express their views in writing on the
standards enumerated in paragraph 7 of
the Act.
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 June 26, 2023.
A. Federal Reserve Bank of Boston
(Prabal Chakrabarti, Senior Vice
President), 600 Atlantic Avenue,
Boston, Massachusetts 02210–2204.
Comments can also be sent
electronically to
BOS.SRC.Applications.Comments@
bos.frb.org:
1. Stilwell Activist Investments, L.P.,
Stilwell Activist Fund, L.P., and Stilwell
Partners L.P., together known as The
Stilwell Group, Stilwell Value LLC, as
general partner of each of the limited
partnerships, all of New York, New
York; and Joseph D. Stilwell, San Juan,
Puerto Rico, as managing member of
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]]>Agencies
[Federal Register Volume 88, Number 112 (Monday, June 12, 2023)]
[Notices]
[Pages 38051-38053]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-12445]
=======================================================================
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FEDERAL HOUSING FINANCE AGENCY
[No. 2023-N-8]
Proposed Collection; Comment Request
AGENCY: Federal Housing Finance Agency.
ACTION: 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 ``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 September
30, 2023.
DATES: Interested persons may submit comments on or before August 11,
2023.
ADDRESSES: Submit comments to FHFA, identified by ``Proposed
Collection; Comment Request: `Members of the Banks, (No. 2023-N-8)' ''
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, Office
of General Counsel, 400 Seventh Street SW, Washington, DC 20219,
ATTENTION: Proposed Collection; Comment Request: ``Members of the
Banks, (No. 2023-N-8).''
We will post all public comments we receive without change,
including any
[[Page 38052]]
personal information you provide, such as your name and address, email
address, and telephone number, on the FHFA website at https://www.fhfa.gov.
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: Lindsay Spadoni, Assistant General
Counsel, [email protected], (202) 649-3634 or Angela
Supervielle, Senior Counsel, [email protected], (202) 649-
3973 (these are not toll-free numbers). For TTY/TRS users with hearing
and speech disabilities, dial 711 and ask to be connected to any of the
contact numbers above.
SUPPLEMENTARY INFORMATION:
A. Paperwork Reduction Act
Under the PRA (44 U.S.C. 3501-3520), Federal agencies must obtain
approval from OMB for each collection of information they conduct or
sponsor. ``Collection of information'' is defined in 44 U.S.C. 3502(3)
and 5 CFR 1320.3(c) to include agency requests or requirements that ten
or more persons submit information to a third party. Section
3506(c)(2)(A) of title 44 requires Federal agencies to provide a 60-day
notice \1\ in the Federal Register concerning each proposed collection
of information, including each proposed extension of an existing
collection of information, before submitting the collection of
information to OMB for approval. FHFA's collection of information set
forth in this document is titled ``Members of the Banks'' (assigned
control number 2590-0003 by OMB). To comply with the PRA requirement,
FHFA is publishing notice of a proposed three-year extension of this
collection of information and reinstatement of the control number,
which is due to expire on September 30, 2023.
---------------------------------------------------------------------------
\1\ Following the close of this notice's 60-day comment period,
FHFA will publish a second notice with a 30-day comment period as
required by 44 U.S.C. 3507(b) and 5 CFR 1320.10(a).
---------------------------------------------------------------------------
B. 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 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.\2\ 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.\3\ 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.\4\
---------------------------------------------------------------------------
\2\ See 12 U.S.C. 1424(a).
\3\ See 12 U.S.C. 1424(b).
\4\ See 12 U.S.C. 1426(d).
---------------------------------------------------------------------------
C. Need for and Use of the Information Collection
FHFA's ``Members of the Banks'' regulation, set forth at 12 CFR
part 1263, implements those statutory provisions and otherwise
establishes substantive and procedural requirements relating to the
initiation and termination of Bank 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 FHFA.
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.\5\ 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.\6\ 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.\7\ 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.\8\
---------------------------------------------------------------------------
\5\ See 12 CFR 1263.2(a), 1263.6-1263.9, 1263.11-1263.18.
\6\ See 12 CFR 1263.5.
\7\ See 12 CFR 1263.26.
\8\ See 12 CFR 1263.4(b), 1263.18(d), (e).
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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. FHFA may also 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 September 30, 2023. The likely
respondents are financial institutions that are, or are applying to
become, Bank members.
D. 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
[[Page 38053]]
years will be 2,181 hours. This estimate is derived from the following
calculations:
1. Membership Applications
FHFA estimates that the average number of applications for Bank
membership submitted annually will be 141 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
(141 applications x 15 hours per application) = 2,115 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 50 hours. Accordingly, the estimate for the annual hour
burden associated with the preparation and submission of membership
appeals is (1 appellants x 50 hours per application) = 50 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 4 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 (4
withdrawing members x 1.5 hours per application) = 6 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
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.
Shawn Bucholtz,
Chief Data Officer, Federal Housing Finance Agency.
[FR Doc. 2023-12445 Filed 6-9-23; 8:45 am]
BILLING CODE 8070-01-P
