[Federal Register Volume 69, Number 192 (Tuesday, October 5, 2004)]
[Notices]
[Page 59597]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 04-22286]
[[Page 59597]]
=======================================================================
-----------------------------------------------------------------------
FEDERAL HOUSING FINANCE BOARD
[No. 2004-N-12]
Submission for OMB Review; Comment Request
AGENCY: Federal Housing Finance Board.
ACTION: Notice.
-----------------------------------------------------------------------
SUMMARY: In accordance with the requirements of the Paperwork Reduction
Act of 1995, the Federal Housing Finance Board (Finance Board) has
submitted the information collection entitled ``Federal Home Loan Bank
Directors'' to the Office of Management and Budget (OMB) for review and
approval of a three-year extension of the OMB control number, which is
due to expire on October 31, 2004.
DATES: Interested persons may submit comments on or before November 4,
2004.
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 Board, Washington, DC 20503.
FOR FURTHER INFORMATION OR COPIES OF THE COLLECTION CONTACT: Patricia
L. Sweeney, Program Analyst, Office of Supervision, by telephone at
202/408-2872, by electronic mail at sweeneyp@fhfb.gov, or by regular
mail to the Federal Housing Finance Board, 1777 F Street, NW.,
Washington, DC 20006.
SUPPLEMENTARY INFORMATION:
A. Need for and Use of Information Collection
Section 7 of the Federal Home Loan Bank Act (Bank Act) and the
Finance Board's implementing regulation establish the eligibility
requirements and the procedures for electing and appointing Federal
Home Loan Bank (FHLBank) directors. See 12 U.S.C. 1427; 12 CFR part
915. Under part 915, the FHLBanks determine the eligibility of elected
directors and director nominees and run the director election process.
The Finance Board determines the eligibility of and selects all
appointed FHLBank directors. To determine eligibility, the FHLBanks use
the Elected Director Eligibility Certification Form and the Finance
Board uses the Appointed Director Eligibility Certification Form. The
Finance Board regulation also requires incumbent directors to certify
annually that they continue to meet the director eligibility
requirements.
The Finance Board uses the information contained in the Appointed
Director Eligibility Certification Form and part 915 to determine
whether prospective and incumbent appointed FHLBank directors satisfy
the statutory and regulatory eligibility requirements. The FHLBanks,
and where appropriate, the Finance Board, use the information in the
Elected Director Eligibility Certification Form and part 915 to
determine whether elected FHLBank directors and director nominees
satisfy the statutory and regulatory eligibility requirements. Only
individuals meeting these requirements may serve as FHLBank directors.
See 12 U.S.C. 1427.
The likely respondents include FHLBanks, FHLBank members, and
prospective and incumbent FHLBank directors.
The OMB number for the information collection is 3069-0002. The OMB
clearance for the information collection expires on October 31, 2004.
B. Burden Estimate
The Finance Board estimates that total number of respondents is
5010, which includes 12 FHLBanks, 4600 FHLBank members, and 398
prospective and incumbent FHLBank directors. As explained below, the
Finance Board estimates that the total annual hour burden for all
respondents is 4210 hours.
The Finance Board estimates the total annual average hour burden
for each FHLBank to run the election of directors and process
prospective and incumbent Elected Director Eligibility Certification
Forms is approximately 234 hours. The estimate for the average hour
burden for all FHLBanks is 2809 hours (12 FHLBanks x approximately 234
hours).
The Finance Board estimates the total annual average hour burden
for all FHLBank members to participate in the director election process
is 1150 hours. This includes 150 hours for FHLBank members to process
director nomination forms (600 FHLBank members processing nomination
forms x 0.25 hours) and 1000 hours for FHLBank members to vote in the
director election (4000 FHLBank voting members x 0.25 hours).
The Finance Board estimates the total annual average hour burden
for all FHLBank directors is 251 hours. This includes 155 hours for
prospective FHLBank directors to complete and return Director
Eligibility Certification Forms (206 prospective directors x 1 response
per individual x 0.75 hours). It also includes 96 hours for incumbent
FHLBank directors to complete and return Director Eligibility
Certification Forms or updates, as appropriate (192 incumbent FHLBank
directors x 1 response per individual x 0.5 hours).
C. Comment Request
In accordance with the requirements of 5 CFR 1320.8(d), the Finance
Board published a request for public comments regarding this
information collection in the Federal Register on July 30, 2004. See 69
FR 45715 (July 30, 2004). The 60-day comment period closed on September
28, 2004. The Finance Board received no public comments.
Written comments are requested on: (1) Whether the collection of
information is necessary for the proper performance of Finance Board
functions, including whether the information has practical utility; (2)
the accuracy of the Finance Board'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. Comments should be submitted to OMB in writing
at the address listed above.
Dated: September 29, 2004.
By the Federal Housing Finance Board.
Mark J. Tenhundfeld,
General Counsel.
[FR Doc. 04-22286 Filed 10-4-04; 8:45 am]
BILLING CODE 6725-01-P