Proposed Collection; Comment Request
In accordance with the requirements of the Paperwork Reduction Act of 1995, the Federal Housing Finance Agency (FHFA) is submitting the information collection known as ``Federal Home Loan Bank Acquired Member Assets, Core Mission Activities, Investments and Advances'' to the Office of Management and Budget (OMB) for review and approval of a three year extension of the control number 2590-0008, which is due to expire on August 31, 2009.
Privacy Act Implementation
The Federal Housing Finance Agency (FHFA) is issuing a final regulation to provide the procedures and guidelines under which it will implement the Privacy Act of 1974, as amended. The regulation provides the policies and procedures whereby individuals may obtain notification of whether an FHFA system of records contains information about the individual and, if so, how to access or amend a record under the Privacy Act. Upon adoption of this regulation the Privacy Act regulations of the Federal Housing Finance Board and the Office of Federal Housing Enterprise Oversight, will be removed.
Federal Home Loan Bank Members Selected for Community Support Review
The Federal Housing Finance Agency (FHFA) is announcing the Federal Home Loan Bank (Bank) members it has selected for the 2008-09 sixth quarter review cycle under the FHFA's community support requirements regulation. This notice also prescribes the deadline by which Bank members selected for review must submit Community Support Statements to FHFA.
Privacy Act of 1974; System of Records
In accordance with the Privacy Act of 1974 (Privacy Act), the Federal Housing Finance Agency (FHFA) is issuing public notice of its intent to establish and maintain three new Privacy Act systems of records covering the Federal Home Loan Bank System Directory, the Financial Management System, and the Correspondence Tracking System. The first system is titled ``FHFA1 Federal Home Loan Bank System Directory.'' The proposed system of records is necessary, as it will contain contact information for current Federal Home Loan Bank (Bank) presidents, chairs, vice chairs, directors, and senior staff; members of the Bank's Affordable Housing Advisory Councils (AHAC); and senior staff at the Banks, Office of Finance, and FHFA. The system will facilitate effective communications between the FHFA, Banks, and Office of Finance. The second system is titled ``FHFA2 Financial Management System.'' The proposed system of records is necessary, as it will contain financial and procurement records for prospective, present and former employees, contractors, and vendors of FHFA. The records may include names, social security numbers, credit card numbers, accounts, reimbursements, pay records, transactions, payment agreements, and certificates. The FHFA will use the system to ensure the orderly processing of administrative actions within the agency. The third new system is titled ``FHFA3 Correspondence Tracking System.'' The proposed system of records is necessary, as it will contain correspondence and records of communications between FHFA and individuals or entities submitting requests or inquiries to the agency. These records are collected and maintained to facilitate the orderly processing of correspondence by the agency and may include names, supporting documents, and contact information supplied by individuals or entities.
Prior Approval for Enterprise Products
The Federal Housing Finance Agency (FHFA or Agency) is promulgating and seeking comment on an interim final regulation to implement section 1321 of the Federal Housing Enterprises Financial Safety and Soundness Act of 1992, as amended by section 1123 of the Housing and Economic Recovery Act of 2008. The regulation establishes a process for the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) (collectively, the Enterprises) to obtain prior approval from the FHFA Director for a new product and provide prior notice to the Director of a new activity. Specifically, the interim final regulation implements section 1321 and is designed to ensure that the FHFA Director has the opportunity to determine prior to an Enterprise commencing a new activity whether the new activity is a new product, and if it is a new product, to determine whether the new product is authorized by the Enterprise's charter, is in the public interest, and is consistent with the safety and soundness of the Enterprise or the mortgage finance or financial system. FHFA invites public comment on all aspects of the regulation.