[Federal Register Volume 75, Number 59 (Monday, March 29, 2010)]
[Notices]
[Pages 15431-15432]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2010-6964]
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FEDERAL HOUSING FINANCE AGENCY
[No. 2010-N-02]
Proposed Collection; Comment Request
AGENCY: Federal Housing Finance Agency.
[[Page 15432]]
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
``Capital Requirements for the Federal Home Loan Banks,'' which has
been assigned control number 2590-0002 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, 2010.
DATES: Interested persons may submit comments on or before May 28,
2010.
ADDRESSES: Submit comments to FHFA using any one of the following
methods:
E-mail: [email protected]. Please include Proposed
Collection; Comment Request: ``Capital Requirements for the Federal
Home Loan Banks, (No. 2010-N-02)'' in the subject line of the message.
Mail/Hand Delivery: Federal Housing Finance Agency, Fourth
Floor, 1700 G Street NW., Washington, DC 20552, ATTENTION: Public
Comments/Proposed Collection; Comment Request: ``Capital Requirements
for the Federal Home Loan Banks, (No. 2010-N-02).''
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 e-
mail to FHFA at [email protected] to ensure timely receipt by the
agency.
We will post all public comments we receive without change,
including any personal information you provide, such as your name and
address, 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, Fourth Floor, 1700 G Street, NW.,
Washington, DC 20552. To make an appointment to inspect comments,
please call the Office of General Counsel at 202-414-6924.
FOR FURTHER INFORMATION CONTACT: Jonathan F. Curtis, Financial Analyst,
Division of Federal Home Loan Bank Regulation, by telephone at 202-408-
2866 (not a toll free number), by e-mail at [email protected],
or by regular mail at the Federal Housing Finance Agency, 1625 Eye
Street, NW., Washington, DC 20006. 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 6 of the Federal Home Loan Bank Act (Bank Act) establishes
the capital structure for the Federal Home Loan Banks (Banks) and
requires FHFA to issue regulations prescribing uniform capital
standards applicable to each Bank.\1\ Parts 930, 931, 932, and 933 of
title 12, Code of Federal Regulations implement the statutory capital
structure for the Banks. Part 930 establishes definitions applicable to
risk management and the capital regulations; part 931 concerns Bank
capital stock; part 932 establishes Bank capital requirements; and part
933 sets forth the requirements for Bank capital structure plans. The
provisions of part 931 provide that a Bank must require its members to
maintain a minimum investment in the capital stock of the Bank as a
condition to becoming and remaining a member of the Bank and as a
condition to transacting business with the Bank or obtaining advances
from the Bank. The amount of the required minimum investment is
determined in accordance with the Bank's capital plan under part 933.
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\1\ 12 U.S.C. 1426.
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The Banks use the information collection to determine the amount of
capital stock a member must purchase to maintain membership in and to
obtain services from a Bank. More specifically, the provisions of
Sec. Sec. 931.3 and 933.2(a) authorize a Bank to offer its members
several options to satisfy a membership investment in capital stock and
an activity-based stock purchase requirement. The information
collection is necessary to provide the Banks with the flexibility to
meet the statutory and regulatory capital structure requirements while
allowing Bank members to choose the option best suited to their
business requirements.
The OMB number for the information collection is 2590-0002. The OMB
clearance for the information collection expires on July 31, 2010. The
likely respondents include Banks and Bank members.
B. Burden Estimate
FHFA estimates the total annual average number of activity-based
stock purchase requirement respondents at 5,813, with 4 responses per
respondent. The estimate for the average hours per response is 20
hours. The estimate for the annual hour burden for activity-based stock
purchase requirement respondents is 465,040 hours (5,813 activity-based
respondents x 4 responses per respondent x 20 hours per response).
FHFA estimates the total annual average number of membership
investment in capital stock respondents at 8,106, with 4 responses per
respondent. The estimate for the average hours per response is 10
hours. The estimate for the annual hour burden for membership
investment in capital stock respondents is 324,240 hours (8,106
membership investment respondents x 4 responses per respondent x 10
hours per response).
The estimate for the total annual hour burden for all respondents
is 789,280 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 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: March 22, 2010.
Edward J. DeMarco,
Acting Director, Federal Housing Finance Agency.
[FR Doc. 2010-6964 Filed 3-26-10; 8:45 am]
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