[Federal Register Volume 78, Number 126 (Monday, July 1, 2013)]
[Notices]
[Pages 39293-39294]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2013-15573]
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FEDERAL HOUSING FINANCE AGENCY
[No. 2013-N-10]
Proposed Collection; Comment Request
AGENCY: Federal Housing Finance Agency.
ACTION: 60-day Notice of Submission of Information Collection for
Approval from the Office of Management and Budget.
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SUMMARY: In accordance with the requirements of the Paperwork Reduction
Act of 1995, the Federal Housing Finance Agency (FHFA) is seeking
public comments concerning the 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, 2013.
DATES: Interested persons may submit comments on or before August 30,
2013.
ADDRESSES: Submit comments to FHFA using any one of the following
methods:
Federal eRulemaking Portal: http://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.
Email: [email protected]. Please include Proposed
Collection; Comment Request: ``Members of the Banks, (No. 2013-N-10)''
in the subject line of the message.
Mail/Hand Delivery: Federal Housing Finance Agency, Eighth
Floor, 400 Seventh Street SW., Washington, DC 20024, ATTENTION: Public
Comments/Proposed Collection; Comment Request: ``Members of the Banks,
(No. 2013-N-10).''
We will post all public comments we receive without change,
including any personal information you provide, such as your name,
address, email address, and telephone number, on the FHFA Web site at
http://www.fhfa.gov. In addition, copies of all comments received will
be available for examination by the public on business days between the
hours of 10 a.m. and 3 p.m., at the Federal Housing Finance Agency,
Eighth Floor, 400 Seventh Street SW., Washington, DC 20024. To make an
appointment to inspect comments, please call the Office of General
Counsel at 202-649-3804.
FOR FURTHER INFORMATION CONTACT: Jonathan F. Curtis, Financial Analyst,
Division of Federal Home Loan Bank Regulation, at 202-649-3321 (not a
toll free number), [email protected], or by regular mail at the
Federal Housing Finance Agency, 400 Seventh Street SW., Washington, DC
20024. The telephone number for the Telecommunications Device for the
Deaf is 800-877-8339.
SUPPLEMENTARY INFORMATION:
A. Need For and Use of the Information Collection
Section 4 of the Federal Home Loan Bank Act (Bank Act) establishes
the eligibility requirements an institution must meet in order to
become a member of a Federal Home Loan Bank (Bank).\1\ FHFA's Bank
membership regulation, located at 12 CFR part 1263, implements section
4 of the Bank Act by providing uniform requirements an applicant must
meet to be approved for Bank membership and review criteria a Bank must
apply to determine if an applicant satisfies the statutory and
regulatory membership eligibility requirements, and by specifying the
information and materials an institution must submit as part of its
application.\2\ Although the membership regulation authorizes the Banks
to approve or deny applications for membership, it also provides
institutions that have been denied membership in a Bank the option of
appealing the decision to FHFA.\3\ The membership regulation also
addresses the requirements for withdrawal from Bank membership and for
the transfer of an institution's membership from one Bank to
another.\4\
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\1\ See 12 U.S.C. 1424.
\2\ See 12 CFR part 1263.
\3\ See 12 CFR 1263.5.
\4\ See 12 CFR 1263.26; 1263.18(d), (e).
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This information collection may require four different types of
submissions by Bank members or by institutions wishing to become a Bank
member: (I) Applications for membership and supporting materials by
institutions wishing to become a member of a Bank; (II) notices of
appeal to FHFA by institutions that have been denied membership by a
Bank; (III) requests to withdrawal from Bank membership by members
wishing to withdraw; and (IV) applications for transfer of membership
and supporting materials by current Bank members wishing to become a
member of a different Bank. The information collection is necessary to
enable a Bank to determine whether prospective and current Bank
members, or transferring members of other Banks, satisfy the statutory
and regulatory requirements to be certified initially and maintain
their status as members eligible to obtain Bank advances. The
collection is also necessary to inform a Bank of when to initiate the
withdrawal process where a member so desires. On appeals, FHFA uses the
information collection to determine whether to uphold or overrule a
Bank's decision to deny Bank membership to an applicant.
The OMB control number for the information collection is 2590-0003,
[[Page 39294]]
which is due to expire on September 30, 2013. The likely respondents
are institutions that want to be certified as or are members of a Bank
seeking continued certification.
B. Burden Estimate
I. Membership Application
FHFA estimates the total annual average number of applicants at
157, with 1 response per applicant. The estimate for the average hours
per application is 19.25 hours. The estimate for the annual hour burden
for applicants is 3,022 hours (157 applicants x 1 response per
applicant x 19.25 hours per response).
II. Appeal of Membership Denial
FHFA estimates the total annual average number of appellants at 1,
with 1 response per appellant. The estimate for the average hours per
application for appeal is 10 hours. The estimate for the annual hour
burden for appellants is 10 hours (10 appellants x 1 response per
appellant x 10 hours per response).
III. Withdrawals From Membership
FHFA estimates the total annual average number of membership
withdrawals at 275, with 1 response per applicant. The estimate for the
average hours per application is 3.5 hours. The estimate for the annual
hour burden for applicants is 963 hours (275 withdrawals x 1 response
per applicant x 3.5 hours per response).
IV. Transfer of Membership
FHFA estimates the total annual average number of membership
transfer requests at 2, with 1 response per applicant. The estimate for
the average hours per application is 3.5 hours. The estimate for the
annual hour burden for applicants is 7 hours (2 transfers x 1 response
per applicant x 3.5 hours per response).
The combined estimate for the total annual hour burden for all
respondents is 4,002 hours.
C. 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 the 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.
Dated: June 24, 2013.
Kevin Winkler,
Chief Information Officer, Federal Housing Finance Agency.
[FR Doc. 2013-15573 Filed 6-28-13; 8:45 am]
BILLING CODE 8070-01-P