Submission for OMB Review; Comment Request

FEDERAL HOUSING FINANCE BOARD

[No. 2001-N-11]

Submission for OMB Review; Comment Request

AGENCY: Federal Housing Finance Board.

ACTION: Notice.

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SUMMARY: In accordance with the requirements of the Paperwork Reduction

Act of 1995, the Federal Housing Finance Board (Finance Board) hereby

gives notice that it 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 September 30, 2001.

DATES: Interested persons may submit comments on or before November 2,

2001.

ADDRESSES: Submit comments to the Office of Information and Regulatory

Affairs of OMB, Attention: Desk Officer for the Federal Housing Finance

Board, Washington, DC 20503. Address requests for copies of the

information collection and supporting documentation to Elaine L. Baker,

Secretary to the Board, 202/408-2837, [email protected], Federal Housing

Finance Board, 1777 F Street, NW., Washington, DC 20006.

FOR FURTHER INFORMATION CONTACT: Patricia L. Sweeney, Program Analyst,

Program Assistance Division, Office of Policy, Research and Analysis by

telephone at 202/408-2872, by electronic mail at [email protected], 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

Federal Housing Finance Board (Finance Board) 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 elective directors and director nominees and run the

director election process. The Finance Board determines the eligibility

of and selects all appointive FHLBank directors. To determine

eligibility, the FHLBanks use the Elective Director Eligibility

Certification Form, and the Finance Board uses the Appointive Director

Eligibility Certification Form.

The Finance Board uses the information collection contained in the

Appointive Director Eligibility Certification Form, and part 915 to

determine whether prospective and incumbent appointive directors

satisfy the statutory and regulatory eligibility and reporting

requirements. Only individuals meeting these requirements may serve as

appointive FHLBank directors. See 12 U.S.C. 1427(a). The FHLBanks, and

where appropriate, the Finance Board, use the information collection in

the Elective Director Eligibility Certification Form, and part 915 to

determine whether elective directors and director nominees satisfy the

statutory and regulatory eligibility and reporting requirements. Only

individuals meeting these requirements may serve as elective FHLBank

directors. See 12 U.S.C. 1427(a).

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 September 30, 2001.

B. Burden Estimate

The Finance Board estimates the total number of respondents to be

4,410. The respondents include the 12 FHLBanks and 4,398 FHLBank

members, and prospective and incumbent appointive and elective

directors. The estimated number of total annual responses is 4,998. The

average number of responses per respondent is 1.13.

The Finance Board estimates that the total annual hour burden for

all respondents is 4,208.55 hours. This includes 2,019.05 hours

attributed to the FHLBanks and 1,399.5 hours attributed to FHLBank

members, and prospective and incumbent appointive and elective

directors. The average number of burden hours per respondent is 0.95

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 April 2, 2001. See 66

FR 17557 (April 2, 2001). The 60-day comment period closed on June 1,

2001. 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 may be submitted to OMB in writing at

the address listed above.

By the Federal Housing Finance Board.

Dated: September 27, 2001.

James L. Bothwell,

Managing Director.

[FR Doc. 01-24674 Filed 10-2-01; 8:45 am]

BILLING CODE 6725-01-P