Proposed Collection; Comment Request, 48612-48636 [2024-12506]
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48621
Independence
The info1mation you provide below will enable the Bank to determine whether you meet the independence requirements.
You may be nominated if you do not cmTently meet the independence requirements, but you must agree as part of the
certification at the end of this Form that you and youi· spouse will 1·elinquish any positions tliat the Bank determines to be
prohibited under those requirements. If elected, you may not be seated as an independent director so Jong 11s you or your
spouse hold any such prohibited positions and, once seated, \Vould become ineligible to continue to serve as an independent
director if you or your spouse were to take any such prohibited positions.
7. Employment by a Federal Home Loan Bank.
A Are you or your spouse an officer or employee of auy Federal Home
Loan Bank?
0Yes
B. If you answered Yes to Question 7A, please provide the following infonnation for each such position
held by you or your spouse:
Name of the Person Holding the Position:
Federal Home Loan Bank of:
Title:
Date Position Began:
8. Employment by a Bank Member, Housing Associate, or Holding Company.
A. Are you or your spouse an officer, director, or employee of a member
of the Bank, an entity certified as a housing associate of the Bank, or
a holding company that controls one or more members or housing
associates of the Bank?
0Yes
B. If you answered Yes to Question 8A, please provide the following infomiation for each such position
held by you or your spouse:
Name of the Person Holding the Position:
Name of the Employer:
Check the appropriate response below to indicate whether the employer is:
D amember
D a holding company of a member
D a housing associate
D a holding company of a housing associate
Title:
Date Position Began:
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If the employer is a holding company:
•
•
•
Indicate the total assets of the holding company;
Indicate the total assets of each member or housing associate oftbe Bank controlled by the
holding company; and
Provide documentation to suppott those amounts.
ACADEMIC AND EMPLOYMENT HISTORY
Please answer in full Questions 9 • 11, regarding your academic and employment background. If you wish, you may answer
any or all of these questions by attaching a resume or CV, so long as you provide all of the information requested. Any such
attachments shall be deemed a: part of this Form.
D Check if you have attached a resmne or CV in response to Questions 9 - 11.
9. Academic Degrees. Please list any college or advanced academic degrees that you have been awarded,
speci(ving for each: the type of degree, the name and location of the academic institution that awarded
your degree, and the date awarded.
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48623
10. Employment History. Please list, from most to least recent, the positions you have held during your
professional career, specifying for each: the name and location of your employer, your position, and the
date range (including month and year) during which you served in that position. Please explain any major
gaps in your employment chronology.
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11. Other Relevant Experience and Achievements. Please list any other significant positions you have
held, or cun-ently hold, (such as other directorships or volunteer positions) and any professional
certifications that you believe are relevant to your qualifications to serve as an independent director of the
Bank, specifying for each: the name and location of the organization with which you served, your
position, and the date range (including month and year) during which you served in that position; for each
certification, list the ce1iification name, the certifying entity, and the date of your certification.
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48625
PROFESSIONAL QUALIFICATIONS
Please indicate in response to Question 12 whether you are seeking nomination for a public interest independent
directorship or a regular indep(,'l:ldent directorship and then complete the appropriate questions regarding your qualifications
for that type of independent directorship. If you wish to be considered for both types of independent directorships, or are
unsure, please check both options. If you wish to be considered for a public interest independent directorship, you must
answer Question 13 in full. If you wish to be considered for a regular independent directorship, you must answer Questions
14 - 15 in full. If you wish to be considered for only one type of independent directorship, you are not required to answer
the question or questions pertaining to the other type of independent directorship, although you may choose to do so if you
wish to highlight relevant knowledge or experience in the areas addressed in those questions.
12. Type of Independent Directorship Being Sought. Please check one or both of the boxes below to
indicate the type ofindependent directorship you are seeking.
D Check if you are seeking a public interest independent directorship.
D Check if you are seeking a regular independent directorship.
Public Interest Independent Directorsliip
By statute, a nominee for a public interest independent directorship must have "more than 4 years of experience in
representing consumer or community interests on banking services, credit needs, housing, or consumer financial
protections." Qualifying experience in one of the four enumerated areas may have been acquired in professional, public
service, or volunteer positions, so long as the work done was substantial in terms of time commitment and responsibility.
As indicated by the statute's use of the word "representing," the experience must have involved advocating for, or
otherwise acting primarily for the drrect benefit of, consumer or community interests in one of the four enumerated areas.
Further, the experience must accrue from activities personally undertaken by the individual seeking nomination as a public
interest independent director, as opposed to being attributed based solely on the activities of.an organization with which the
person was associated. Please reach out to the Bank if you have questions as to whether your experience meets the
statutory requirements to qualify for service as a public interest independent director.
13. Representation of Consumer and Community Interests. Please explain in detail how you have
represented consumer or community interests in banking services, credit needs, housing, or consumer
financial protections for more than four years. At a minimum:
•
Identify the positions through which you obtained your qualifying experience and specify the dates
during which you served in those positions.
•
Specify whether those positions involved banking services, credit needs, housing, or consumer
financial protections.
•
To the exient that your experience was obtained with an organization or agency, describe generally
the mission of each such organization or agency and the manner in which its mission is typically
fulfilled.
•
Describe your responsibilities in those positions and, if any were not full-time paid employment,
indicate the amount of time you spent fulfilling those responsibilities annually.
•
Describe your major accomplishments in those positions that relate to the ex-perience needed to
qualify as a public interest independent director.
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48627
Regular Independent Directorship
If you are seeking a regular independent directorship, please answer in full Questions 14- 15, which pertain to your
professional qualifications to serve in that capacity. If you are seeking a public interest independent directorship, you are
not required to answer these questions, but may choose to do so if you possess relevant knowledge and expefience that you
wish to highlight.
14. Primary Areas of Knowledge and :Experience. Please indicate below, by checking the appropriate
boxes, the professional areas in which you have significant knowledge or experience that is
commensurate with that needed to oversee a finaneial institution with a size and complexity comparable
to that of the Bank.
D Auditing and accounting
D
Derivatives
D
Financial management
D
Organizational management
D
Project development
D
Risk management practices
D
The law
15. Description of Knowledge and :Experience. For each of your primary areas of professional knowledge
and experience indicated in response to Question 14, please describe in detail the nature of that
knowledge and experience and the circumstances under which you obtained it. At a minimum, for each
area:
• Identify the entities with which you were employed or otherwise associated when you gained the
knowledge or experience and briefly describe the business or mission of those entities ( e.g.,
"investment bank," "law finn," etc.).
• Identify the positions you have held with those entities and describe your major accomplishments in
those positions with respect to the relevant areas.
Note if more space needeilfor answer to Question 15, cmitinue typing response onto page 11.
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48629
Other ,\,tatters
16. Personal Integrity. Is there anything in your background that might cause a reasonable person to
question your personal integrity, your ability to folfill the fiduciary duties of a board director, or your
competence to supervise the management of the Bank (issues of concem could include, but are not limited
to: past felony convictions or pending felony charges; any findings by a court or administrative body that
you have violated federal or state civil laws relating to securities, banking, housing, or real estate;
suspension or revocation of a professional license; a personal or business bankrnptcy filing; a foreclosure
action; or having been the subject of a tax lien)?
OYes
If you answered Yes, please fully describe the incidents, the timeframes in which they occun-ed, and their
ultimate disposition and provide suppotiing documentation where appropriate.
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17. Conflicts oflnterest. Other than any relationships described in response to Questions 7 - 8, do you or, to
your knowledge, do any of your immediate family members (i.e., a parent, sibling, spouse, child, other
dependent, or any relative sharing your residence) or close business associates (i.e., a corporation or
organization of which you are an officer or a partner. or in which you own more than ten percent of any
class of equity security (including subordinated debt); an individual that is an officer or a partner of. or
who owns more than ten percent of any class of equity security (including subordinated debt) in, such a
corporation or organization; or a trust in which you have a substantial interest or serve in a fiduciary
capacity) have any financial interest5 or other relationships that might create actual or apparent conflicts
of interest or might otherwise J.:,ad a reasonable person to question your ability to administer the affairs of
the Bank fairly and impartially?
0
Yes
If you answered Yes, please fully describe the nature of those interests or relationships, the individuals or
entities involved, and their relationship to you.
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48631
By executing this Fonn, you are certifying that:
•
The infonnation you have provided is true, con-ect, and complete to the best of your knowledge;
•
You aclmowled~e that the Bank and the Federal Housin~ Hnance A~ency may perform a
background check on you, including without limitation regarding any information disclosed herein;
•
You understand that you have a continuing obligation to inform the Bank of any facts that may call
into question your eligibility or ability to serve as a Bank director; and
•
If you are nominated and elected to serve as a Bank director:
You and your spouse will relinquish any positions that the Bank determines to be prohibited
by the statutory and regulatory independence requirements for independent directors; and
o
You will re~ularly attend the meetin~s of the Bank's board of directors and the Bank's
board committees to which you are assigned and will devote the time necessary to
adequately prepare for those meetings and execute your other responsibilities as an
independent director.
Signature/Dat.e:
Reminder:Apply your electronic signature above here. Ifyou physically sign, please include date.
Privacy Act Statement: In accordance with the Privacy Act (5 U.S.C. 552a), the following notice is provided.
This information is solicited under authority of 12 U.S.C. 1427(a) and (b) and 12 CFR 1261.5, 1261.7, and
1261.10 to 1261.13. Furnishing the info1matio11 on this Fonn is voluntary, but failure to do so may result in your
not meeting the statutory and regulatory eligibility requirements to serve as a Federal Home Loan Bank
independent director. The purpose of this inforniation is to facilitate the timely determination of your eligibility
to serve as an independent director. Inforn1ation may be disclosed in accordance with the routine uses identified
in FHF A-System of Records Notice FHF A-8 Federal Home Loan Bank Directors, which may be found on the
FHF A privacy webpage
Paperwork Reduction Ad Statement: Notwithstanding any other ptovision of the law, no person is required to
respond to, nor shall any person be subject to a penalty for failure to comply with, a collection of information
subject to the requirements of the Paperwork Reduction Act, unless that collection of information displays a
currently valid 0MB Control Number.
0MB No. 2590-0006
Expires 07/31/2024
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Page 14 of 14
48632
Federal Register / Vol. 89, No. 111 / Friday, June 7, 2024 / Notices
FEDERAL HOUSING FINANCE AGENCY
Federal Home Loan Bank Independent Director
Annual Certification Form
FHFA Form #130
(03/2023)
The Federal IIome Loan Dank of
(Dank) is required by law to solicit information from its
incumbent directors annually to verify that each director remains in compliance with the applicable statutory and
regulatory eligibility requirements. Your responses to the questions. on this Federal Home Loan Bank
Independent Director Annual Certification Form will assist the Bank in verifying that you continue to meet
the eligibility requirements that apply to the independent directorship in which you are currently serving.
Please complete and execute this Form and return it to the Bank on or before
If you fail to submit a completed and executed Form by that date, or if you submit a Form that does not
adequately demonstrate that you continue to meet all applicable ehgibility requirements, the Bank may
determine that you are ineligible to serve, in which case th,:; Bank would b,:; required by lawto declar.; your
directorship vacant.
You are eligible to serve as an independent director of the Bank only if you meet a!l of the following
requirements:
•
You are a citizen ofthe United States.
•
You are a bonajide resident of the Bank.District, as determined by meeting either one of the foilowing
two sets of criteria:
o Your principal residence is located in the Bank Distriot; or
o You both:
• Ow11 or lease in your ovm name a residence in the Bank District; and
• Arc employed in a voting state in the Bank District.
•
Neither you nor your spouse are:
o An officer of any Federal Home Loan Bank; or
o An officer, employee, or director ufa11y member of, or recipient of advances from, the Bank. Fur
purposes ofthis prohibition:
• "Advances?' includes any form of lending, regardless of whether it is denominated as an
"advance";and
• "Member" and "recipient of advances" include the institution itself and the institution's
holding company, except where the assets of all members or all recipients of advances
constitute less than 35 percent of the assets of the holding company, on a consolidated
basis.
These eligibility requirements may be found in sections 7(a) and (b) of the Federal Home Loan Bank Act, 12
U.S.C. 1427(a) and (b), and in Federal Housing Finance Agency regulations at 12 CFR 1261.S(c) and 1261. IO
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48633
PERSONJfI,,INFORMATION •
:,};!J~~Jt~,".Idey9ur.j~~;~~i~;l;~i~t~
1. Flill Ni1me1
2, QtlierN11m~Use!lQtl6tf!wn by:
3. Contact Information:
PhoneNumhet:
Cell:
Email Address:
MailingAddtess:
Number!Sfreet(~r PO Box)
City
Staie
ZIP Code
City
State
ZIPCode
Current Employer:
Your Title:
Yol.lt Employmeftt'.Address:
N'ilifiber/Slreet(orPO Box)
5. atuenship,
D
Are youacitizenofthe United States?
□ No
Yes
6; Residency.
A. Please provide- the street address. ofyour ptlncipaLresidertce.
Address:
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Number/Street
48634
Federal Register / Vol. 89, No. 111 / Friday, June 7, 2024 / Notices
I,fthe residence entered in response to Question 6A is located within the Bank District, you meet the residency
requiremeni and may skip to Question 7.
](your principal residence is not located within the Bank District, you may still meet the residency requirement
tfyou own or lease another residence located within the Bank District and are employed within the Bank
District; in this case, please continue with Question 6B. !(you do not own or lease any residence within the
Bank District, you are ineligible to be nominated for an independent directorship.
B. If your principal residence is not located within the Bank District, but you own or lease another
residence within the Bank District, please provide the address of that residence.
Address:
Number/Street
City
State
D
C. Are you employed within the Bank District?
ZIP Code
Yes
D. If you answered Yes to Question 6C, please identify your in-District employer:
□
Check if your in-District employment information is the same as that entered in response to
Question 4.
□
Check if your in-District employment information is different from that entered in response to
Question 4, then provide the following information:
Name of Your In-District Employer:
Your Title:
Your Employment Address:
Number/Street
State
City
ZIP Code
Indepe,ulimce
The infomiation you provide below will enable the Bank to determine whether you continue to meet the
independence requirements. You may be nominated if you do not currently meet the independence requirements,
but you must agree as part of the certification at the end of this Form that you and your spouse will relinquish any
positions that tl::te Bank determines to be prohibited under those requirements. If elected, you may not be seated
as an independent director so long as you or your spouse hold any snch prohibited positions and, once seated,
would become ineligible to continue to serve as an independent director if you or your spouse were to take any
such prohibited positions.
7. Employment by a Federal Home Loan Bank.
A. A.re you or your spouse an officer or employee of any Federal
Home Loan Bank?
D Yes
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Federal Register / Vol. 89, No. 111 / Friday, June 7, 2024 / Notices
48635
B. If you answered Yes to Question 7A, please provide the following information for each such position
held by you or your spouse:
Name of the Person Holding the Position:
Federal Home Loan Bank of:
Title:
Date Position Began:
8. Employment by a Bank Member, Housing Associate, or Holding Company.
A. Are you or your spouse an officer, director, or employee of a
member of the Bank, an entity certified as a housing associate of D
• Yes
the Bank, or a holding company that controls one or more
members or housing associates of the Bank?
B. If you answered Yes to Question 8A, please provide the following information for each such position
held by you or your spouse:
Name of the Person Holding tl1e Position:
Name of the Employer:
Choose the appropriate response below to indicate whether the employer is:
D
amember
D a holding company of a member
D
a housing associate
D
a holding company of a housing associate
Title:
Date Position Began:
If the employer is a holding company:
•
•
•
Indicate the total assets of the holding company;
Indicate the total assets of each member or housing associate of the Bank controlled by the
holding company; and
Provide, or direct the Bank to, documentation to support those amounts.
Note ifmore space needed for answer to Question 8.. continue typing response onto page. 5.
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48636
Federal Register / Vol. 89, No. 111 / Friday, June 7, 2024 / Notices
Continuation ofAnswer to Question 8
By executing this Form, you are certifying that the information you have provided is true, correct, and
complete to the best of your knowledge and that you understand that you have a continuing obligation to
inform the Bank of any facts that may call into question your elieibility or ability to serve as a Bank
director. You further acknowledge that the Bank and the Federal Housing Finance Agency may perform a
background check on you, including without limitation regarding any information disclosed herein.
Signature/Date:
Reminder: Apply your electronic signature above here. lfyau physically sign, please include date.
Privacy Act Statement: In accordance with the Privacy Act (5 U.S.C. 552a), the following notice is provided.
TI1is infonnation is solicited under authority of 12 U.S.C. 1427(a) and (b) and 12 CFR 1261.5, 1261.7, and
1261.10 to 1261.13. Furnishing the infonnation on this Form is voluntary, but failure to do so may result in your
not meeting the statutory and regulato1y eligibility requirements to continue to serve as a Federal Home Loan
Bank independent director. The purpose of this information is to facilitate the timely detennination of your
eligibility to continue to serve as an independent director. Infonnation may be disclosed in accordance with the
routine uses identified in FHF A-System of Records Notice FHFA-8 Federal Home Loan Bank Directors, which
may be found at hen:.
Paperwork Reduction Act Statement: Notwithstanding any other provision of the law, no person is required to
respond to, nor shall any person be subject to a penalty for failure to comply with, a collection of information
subject to the requirements of the Paperwork Reduction Act, unless that collection of information displays a
currently valid 0MB Control Number.
0MB No. 2590-0006
Expires 07/31/2024
[FR Doc. 2024–12506 Filed 6–6–24; 8:45 am]
BILLING CODE 8070–01–C
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FEDERAL RESERVE SYSTEM
Proposed Agency Information
Collection Activities; Comment
Request
Board of Governors of the
Federal Reserve System.
ACTION: Notice, request for comment.
AGENCY:
The Board of Governors of the
Federal Reserve System (Board) invites
SUMMARY:
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17:23 Jun 06, 2024
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comment on a proposal to extend for
three years, without revision, the
Reporting, Recordkeeping, and
Disclosure Requirements Associated
with the Consumer Financial Protection
Bureau’s (CFPB) Home Mortgage
Disclosure Act (HMDA) Loan/
Application Register Required by
Regulation C (FR HMDA LAR; OMB No.
7100–0247).
DATES: Comments must be submitted on
or before August 6, 2024.
ADDRESSES: You may submit comments,
identified by FR HMDA LAR, by any of
the following methods:
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• Agency Website: https://
www.federalreserve.gov/. Follow the
instructions for submitting comments at
https://www.federalreserve.gov/apps/
foia/proposedregs.aspx.
• Email: regs.comments@
federalreserve.gov. Include the OMB
number or FR number in the subject line
of the message.
• Fax: (202) 452–3819 or (202) 452–
3102.
• Mail: Federal Reserve Board of
Governors, Attn: Ann E. Misback,
Secretary of the Board, Mailstop M–
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Agencies
[Federal Register Volume 89, Number 111 (Friday, June 7, 2024)] [Notices] [Pages 48612-48636] From the Federal Register Online via the Government Publishing Office [www.gpo.gov] [FR Doc No: 2024-12506] ======================================================================= ----------------------------------------------------------------------- FEDERAL HOUSING FINANCE AGENCY [No. 2024-N-6] Proposed Collection; Comment Request AGENCY: Federal Housing Finance Agency. ACTION: Federal Home Loan Bank Director--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 or the Agency) is seeking public comments concerning an information collection known as ``Federal Home Loan Bank Directors,'' which has been assigned control number 2590-0006 by the Office of Management and Budget (OMB). FHFA intends to submit the information collection to OMB for review and approval of a three-year extension of the control number, which is due to expire on July 31, 2024. DATES: Interested persons may submit comments on or before August 6, 2024. ADDRESSES: Submit comments to FHFA, identified by ``Proposed Collection; Comment Request: `Federal Home Loan Bank Directors, (No. 2024-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, Fourth Floor, 400 Seventh Street SW, Washington, DC 20219, ATTENTION: Proposed Collection; Comment Request: ``Federal Home Loan Bank Directors, (No. 2024-N-6).'' Please note that all mail sent to FHFA via U.S. Mail is routed through a national irradiation facility, a process that may delay delivery by approximately two weeks. For any time-sensitive correspondence, please plan accordingly. FHFA will post all public comments on the FHFA public website at https://www.fhfa.gov, except as described below. Commenters should submit only information that the commenter wishes to make available publicly. FHFA may post only a single representative example of identical or substantially identical comments, and in such cases will generally identify the number of identical or substantially identical comments represented by the posted example. FHFA may, in its discretion, redact or refrain from posting all or any portion of any comment that contains content that is obscene, vulgar, profane, or threatens harm. All comments, including those that are redacted or not posted, will be retained in their original form in FHFA's internal file and considered as required by all applicable laws. Commenters that would like FHFA to consider any portion of their comment exempt from disclosure on the basis that it contains trade secrets, or financial, confidential or proprietary data or information, should follow the procedures in section IV.D. of FHFA's Policy on Communications with Outside Parties in Connection with FHFA Rulemakings, see https://www.fhfa.gov/sites/default/files/documents/Ex-Parte-Communications-Public-Policy_3-5-19.pdf. FHFA cannot guarantee that such data or information, or the identity of the commenter, will remain confidential if disclosure is sought pursuant to an applicable statute or regulation. See 12 CFR 1202.8, 12 CFR 1214.2. and https://www.fhfa.gov/about/foia-reference-guide for additional information. FOR FURTHER INFORMATION CONTACT: Kenya Bryant, Financial Analyst, [email protected], (202) 649-3938; or Angela Supervielle, Senior Counsel, [email protected], (202) 649-3973 (these are not toll-free numbers); Federal Housing Finance Agency, 400 Seventh Street SW, Washington, DC [[Page 48613]] 20219. 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. Need for and Use of the Information Collection Section 7 of the Federal Home Loan Bank Act (Bank Act) vests the management of each Federal Home Loan Bank (Bank) in its board of directors.\1\ As required by section 7, each Bank's board comprises two types of directors: (1) member directors, who are drawn from the officers and directors of member institutions located in the Bank's district and who are elected to represent members in a particular state in that district; and (2) independent directors, who are unaffiliated with any of the Bank's member institutions, but who reside in the Bank's district and are elected on an at-large basis.\2\ Both types of directors serve four-year terms, which are staggered so that approximately one-quarter of a Bank's total directorships are up for election every year.\3\ Section 7 and FHFA's implementing regulation, codified at 12 CFR part 1261, establish the eligibility requirements for both types of Bank directors and the professional qualifications for independent directors, and set forth the procedures for their election. --------------------------------------------------------------------------- \1\ See 12 U.S.C. 1427(a)(1). \2\ See 12 U.S.C. 1427(b) and (d). \3\ See 12 U.S.C. 1427(d). --------------------------------------------------------------------------- Part 1261 of the regulations requires that each Bank administer its own annual director election process. As part of this process, a Bank must require each nominee for both types of directorship, including any incumbent that may be a candidate for re-election, to complete and return to the Bank a form that solicits information about the candidate's statutory eligibility to serve and, in the case of independent director candidates, about his or her professional qualifications for the directorship being sought.\4\ Specifically, member director candidates are required to complete the Federal Home Loan Bank Member Director Eligibility Certification Form (Member Director Eligibility Certification Form), while independent director candidates must complete the Federal Home Loan Bank Independent Director Application Form (Independent Director Application Form). Each Bank must also require all of its incumbent directors to certify annually that they continue to meet all eligibility requirements.\5\ Member directors do this by completing the Member Director Eligibility Certification Form again every year, while independent directors complete the abbreviated Federal Home Loan Bank Independent Director Annual Certification Form (Independent Director Annual Certification Form) to certify their ongoing eligibility. --------------------------------------------------------------------------- \4\ See 12 CFR 1261.7(c) and (f); 12 CFR 1261.14(b). \5\ See 12 CFR 1261.12. --------------------------------------------------------------------------- The Banks use the information collection contained in the Independent Director Application Form and part 1261 to determine whether individuals who wish to stand for election or re-election as independent directors satisfy the statutory eligibility requirements and possess the professional qualifications required under the statute and regulations. Only individuals meeting those requirements and qualifications may serve as an independent director.\6\ On an annual basis, the Banks use the information collection contained in the Independent Director Annual Certification Form and part 1261 to determine whether its incumbent independent directors continue to meet the statutory eligibility requirements. The Banks use the information collection contained in the Member Director Eligibility Certification Form and part 1261 to determine whether individuals who wish to stand for election or re-election as member directors satisfy the statutory eligibility requirements. Only individuals meeting these requirements may serve as a member director.\7\ On an annual basis, the Banks also use the information collection contained in the Member Director Eligibility Certification Form and part 1261 to determine whether its incumbent member directors continue to meet the statutory eligibility requirements. --------------------------------------------------------------------------- \6\ See 12 U.S.C. 1427(a)(3). \7\ See 12 U.S.C. 1427(a)(3) and (b)(1). --------------------------------------------------------------------------- The OMB control number for this information collection is 2590- 0006. The current clearance for the information collection will expire on July 31, 2024. The likely respondents are individuals who are prospective and incumbent Bank directors. B. Burden Estimate FHFA estimates the total annual hour burden imposed upon respondents by the three Bank director forms comprising this information collection to be 269 hours (39 hours + 200 hours + 30 hours = 269 hours, as detailed below). The Agency estimates the total annual hour burden on all member director candidates and incumbent member directors associated with review and completion of the Member Director Eligibility Certification Form to be 39 hours. This includes a total annual average of 72 member director nominees (24 open seats per year with three nominees for each) completing the form as an application, with 1 response per nominee taking an average of 15 minutes (.25 hours) (72 respondents x .25 hours = 18 hours). It also includes a total annual average of 84 incumbent member directors not up for election completing the form as an annual certification, with 1 response per individual taking an average of 15 minutes (.25 hours) (84 individuals x .25 hours = 21 hours). The Agency estimates the total annual hour burden on all independent director candidates associated with review and completion of the Independent Director Application Form to be 200 hours. This includes a total annual average of 100 applications for independent director positions with 1 response per individual taking an average of 2.0 hours (100 applications x 2.0 hours = 200 hours). The Agency estimates the total annual hour burden on all incumbent independent directors associated with review and completion of the Independent Director Annual Certification Form to be 30 hours. This includes a total annual average of 60 incumbent independent directors not up for election, with 1 response per individual taking an average of 30 minutes (.5 hours) (60 individuals x .5 hours = 30 hours). C. Comments 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. 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