Notice2024-17941
Proposed Collection; Comment Request
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
August 13, 2024
Issuing agencies
Federal Housing Finance Agency
Abstract
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 reinstatement and extension of the control number, which expired July 31, 2024.
Full Text
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<title>Federal Register, Volume 89 Issue 156 (Tuesday, August 13, 2024)</title>
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[Federal Register Volume 89, Number 156 (Tuesday, August 13, 2024)]
[Notices]
[Pages 65881-65908]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2024-17941]
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FEDERAL HOUSING FINANCE AGENCY
[No. 2024-N-11]
Proposed Collection; Comment Request
AGENCY: Federal Housing Finance Agency.
ACTION: Federal Home Loan Bank Directors--30-day notice of submission
of information collection for approval from Office of Management and
Budget.
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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 reinstatement and extension of the control
number, which expired July 31, 2024.
DATES: Interested persons may submit comments on or before September
12, 2024.
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 Agency, Washington, DC 20503, Fax:
(202) 395-3047, Email: <a href="/cdn-cgi/l/email-protection#ace3e5feedf3dfd9cec1c5dfdfc5c3c2ecc3c1ce82c9c3dc82cbc3da"><span class="__cf_email__" data-cfemail="d49b9d86958ba7a1b6b9bda7a7bdbbba94bbb9b6fab1bba4fab3bba2">[email protected]</span></a>. Please also submit
comments to FHFA, identified by ``Proposed Collection; Comment Request:
`Federal Home Loan Bank Directors, (No. 2024-N-11)' '' by any of the
following methods:
<bullet> Agency Website: <a href="http://www.fhfa.gov/open-for-comment-or-input">www.fhfa.gov/open-for-comment-or-input</a>.
<bullet> Federal eRulemaking Portal: <a href="http://www.regulations.gov">http://www.regulations.gov</a>.
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 <a href="/cdn-cgi/l/email-protection#c694a3a185a9ababa3a8b2b586a0aea0a7e8a1a9b0"><span class="__cf_email__" data-cfemail="da88bfbd99b5b7b7bfb4aea99abcb2bcbbf4bdb5ac">[email protected]</span></a> to ensure timely receipt by the agency.
<bullet> 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-11).'' 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
<a href="http://www.fhfa.gov">http://www.fhfa.gov</a>, 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 <a href="https://www.fhfa.gov/sites/default/files/documents/Ex-Parte-Communications-Public-Policy_3-5-19.pdf">https://www.fhfa.gov/sites/default/files/documents/Ex-Parte-Communications-Public-Policy_3-5-19.pdf</a>. 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 the FHFA FOIA
reference guide at <a href="https://www.fhfa.gov/about/foia-reference-guide">https://www.fhfa.gov/about/foia-reference-guide</a> for
additional information.
FOR FURTHER INFORMATION CONTACT: Kenya Bryant, Financial Analyst,
<a href="/cdn-cgi/l/email-protection#7239171c0b135c30000b131c0632141a14135c151d04"><span class="__cf_email__" data-cfemail="9dd6f8f3e4fcb3dfefe4fcf3e9ddfbf5fbfcb3faf2eb">[email protected]</span></a>, (202) 649-3938; or Angela Supervielle, Senior
Counsel, <a href="/cdn-cgi/l/email-protection#4b0a252c2e272a65183e3b2e393d222e27272e0b2d232d2a652c243d"><span class="__cf_email__" data-cfemail="01406f66646d602f52747164737768646d6d6441676967602f666e77">[email protected]</span></a>, (202) 649-3973 (these are not
toll-free numbers); Federal Housing Finance Agency, 400 Seventh Street
SW, Washington, DC 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.
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\1\ See 12 U.S.C. 1427(a)(1).
\2\ See 12 U.S.C. 1427(a)(4), (b), and (d).
\3\ See 12 U.S.C. 1427(d).
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Part 1261 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
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\4\ See 12 CFR 1261.7(c) and (f); 12 CFR 1261.14(b).
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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.
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\5\ See 12 CFR 1261.12.
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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 their 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 their incumbent member directors continue to meet the statutory
eligibility requirements.
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\6\ See 12 U.S.C. 1427(a)(3).
\7\ See 12 U.S.C. 1427(a)(3) and (b)(1).
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The OMB control number for this information collection is 2590-
0006. The clearance for the information collection expired 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
In accordance with the requirements of 5 CFR 1320.8(d), FHFA
published an initial notice and request for public comments regarding
this information collection in the Federal Register on June 7, 2024.\8\
The 60-day comment period closed on August 6, 2024. FHFA did not
receive any comments.
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\8\ See 89 FR 48612 (June 7, 2024).
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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.
BILLING CODE 8070-01-P
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[FR Doc. 2024-17941 Filed 8-12-24; 8:45 a.m.]
BILLING CODE 8070-01-C
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