81 FR 69819 - Proposed Collection; Comment Request

FEDERAL HOUSING FINANCE AGENCY

Federal Register Volume 81, Issue 195 (October 7, 2016)

Page Range		69819-69820
FR Document		2016-24353

In accordance with the requirements of the Paperwork Reduction Act of 1995, the Federal Housing Finance Agency (FHFA or the Agency) is seeking public comments concerning the currently-approved information collection known as ``Federal Home Loan Bank Capital Stock,'' which has been assigned control number 2590-0002 by the Office of Management and Budget (OMB) (the collection was previously known as ``Capital Requirements for the Federal Home Loan Banks''). 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 December 31, 2016.

Federal Register, Volume 81 Issue 195 (Friday, October 7, 2016)

[Federal Register Volume 81, Number 195 (Friday, October 7, 2016)]
[Notices]
[Pages 69819-69820]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-24353]


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FEDERAL HOUSING FINANCE AGENCY

[No. 2016-N-09]


Proposed Collection; Comment Request

AGENCY: Federal Housing Finance Agency.

ACTION: 60-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, the Federal Housing Finance Agency (FHFA or the Agency) is 
seeking public comments concerning the currently-approved information 
collection known as ``Federal Home Loan Bank Capital Stock,'' which has 
been assigned control number 2590-0002 by the Office of Management and 
Budget (OMB) (the collection was previously known as ``Capital 
Requirements for the Federal Home Loan Banks''). 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 
December 31, 2016.

DATES: Interested persons may submit comments on or before December 6, 
2016.

ADDRESSES: Submit comments to FHFA, identified by ``Proposed 
Collection; Comment Request: `Federal Home Loan Bank Capital Stock, 
(No. 2016-N-09)' '' by any of the following methods:
     Agency Web site: www.fhfa.gov/open-for-comment-or-input.
     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 RegComments@fhfa.gov to ensure timely receipt by the agency.
     Mail/Hand Delivery: Federal Housing Finance Agency, Eighth 
Floor, 400 Seventh Street SW., Washington, DC 20219, ATTENTION: 
Proposed Collection; Comment Request: ``Federal Home Loan Bank Capital 
Stock, (No. 2016-N-09)''.
    We will post all public comments we receive without change, 
including any personal information you provide, such as your name and 
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 20219. 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, by 
email at Jonathan.Curtis@fhfa.gov or by telephone at (202) 649-3321; or 
Eric Raudenbush, Associate General Counsel, by email at 
Eric.Raudenbush@fhfa.gov or by telephone at (202) 649-3084, (these are 
not toll-free numbers), Federal Housing Finance Agency, 400 Seventh 
Street SW., Washington, DC 20219. The Telecommunications Device for the 
Hearing Impaired is (800) 877-8339.

SUPPLEMENTARY INFORMATION:

A. Need for and Use of the Information Collection

    The Federal Home Loan Bank System consists of eleven regional 
Federal Home Loan Banks (Banks) and the Office of Finance (a joint 
office that issues and services the Banks' debt securities). The Banks 
are wholesale financial institutions, organized under authority of the 
Federal Home Loan Bank Act (Bank Act) to serve the public interest by 
enhancing the availability of residential housing finance and community 
lending credit through their member institutions and, to a limited 
extent, through certain eligible nonmembers. Each Bank is structured as 
a regional cooperative that is owned and controlled by member 
institutions located within its district, which are also its primary 
customers. An institution that is eligible for membership in a 
particular Bank must purchase and hold a prescribed minimum amount of 
the Bank's capital stock in order to become and remain a member of that 
Bank. With limited exceptions, only an institution that is a member of 
a Bank may obtain access to low cost secured loans, known as advances, 
or other products provided by that Bank.
    Section 6 of the Bank Act establishes capital requirements for the 
Banks and requires FHFA to issue regulations prescribing uniform 
capital standards applicable to all of the Banks.\1\ Section 6 also 
establishes parameters relating to the Banks' capital structures and 
requires that each Bank adopt a ``capital structure plan'' (capital 
plan) to establish, within those statutory parameters, its own capital 
structure and to establish requirements for, and govern transactions 
in, the Bank's capital stock.\2\ FHFA has designated 12 CFR part 1277 
as the location for its regulations on Bank Capital Requirements, 
Capital Stock, and Capital Plans. Part 1277 currently includes 
regulations establishing requirements for the Banks' capital stock 
(Subpart C; Sec. Sec.  1277.20-1277.27) and for the Banks' capital 
plans (Subpart D; Sec. Sec.  1277.28-1277.29). Regulations governing 
the Banks' capital requirements are currently located at 12 CFR parts 
930 and 932 (in the regulations of the former Federal Housing Finance 
Board), but will be moved into part 1277 in the near future.
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    \1\ 12 U.S.C. 1426(a).
    \2\ 12 U.S.C. 1426(b), (c).

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[[Page 69820]]

    Both the Bank Act and FHFA's regulations state that a Bank's 
capital plan must require its members to maintain a minimum investment 
in the Bank's capital stock, but both permit each Bank to determine for 
itself what that minimum investment is and how each member's required 
minimum investment is to be calculated.\3\ Although each Bank's capital 
plan establishes a slightly different method for calculating the 
required minimum stock investment for its members, each Bank's method 
is tied to some degree to both the level of assets held by the member 
institution (typically referred to as a ``membership stock purchase 
requirement'') and the amount of advances or other business engaged in 
between the member and the Bank (typically referred to as an 
``activity-based stock purchase requirement'').
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    \3\ 12 U.S.C. 1426(c)(1); 12 CFR 1277.22, 1277.28(a).
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    A Bank must collect information from its members to determine the 
minimum capital stock investment each member is required to maintain at 
any point in time. Although the information needed to calculate a 
member's required minimum investment and the precise method through 
which it is collected differ somewhat from Bank to Bank, the Banks 
typically collect two types of information. First, in order to 
calculate and monitor compliance with its membership stock purchase 
requirement, a Bank typically requires each member to provide and/or 
confirm a quarterly report on the amount and types of assets held by 
that institution. Second, each time a Bank engages in a business 
transaction with a member, the Bank typically confirms with the member 
the amount of additional Bank capital stock, if any, the member must 
acquire in order to satisfy the Bank's activity-based stock purchase 
requirement and the method through which the member will acquire that 
stock.
    The OMB number for the information collection is 2590-0002, which 
is due to expire on December 31, 2016. The likely respondents include 
current and former Bank members and institutions applying for Bank 
membership.

B. Burden Estimate

    FHFA has analyzed the time burden imposed on respondents by the two 
collections under this control number and estimates that the average 
total annual hour burden imposed on all respondents over the next three 
years will be 33,818 hours. The estimate for each collection was 
calculated as follows:

I. Membership Stock Purchase Requirement Submissions

    FHFA estimates that the average annual number of current and former 
members and applicants for membership required to report information 
needed to calculate a membership stock purchase requirement will be 
7,320, and that each institution will submit 4 quarterly reports per 
year, resulting in an estimated total of 29,280 submissions annually. 
The estimate for the average time required to prepare, review, and 
submit each report is 0.71 hours. Accordingly, the estimate for the 
annual hour burden associated with membership stock purchase 
requirement submissions is (29,280 reports x 0.71 hours per report) = 
20,789 hours.

II. Activity-Based Stock Purchase Requirement Submissions

    FHFA estimates that the average number of daily transactions 
between Banks and members that will require the exchange of information 
to confirm the member's activity-based stock purchase requirement will 
be 312, and that there will be an average of 261 working days per year, 
resulting in an estimated 81,432 submissions annually. The estimate for 
the average preparation time per submission is 0.16 hours. Accordingly, 
the estimate for the annual hour burden associated with activity-based 
stock purchase requirement submissions is (81,432 submissions x 0.16 
hours per submission) = 13,029 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 survey respondents, 
including through the use of automated collection techniques or other 
forms of information technology.

    Dated: September 30, 2016.
Kevin Winkler,
Chief Information Officer, Federal Housing Finance Agency.
[FR Doc. 2016-24353 Filed 10-6-16; 8:45 am]
 BILLING CODE 8070-01-P

Federal Register / Vol. 81, No. 195 / Friday, October 7, 2016 / Notices 69819

and the Receivership Estate has ceased concerning the currently-approved for the Hearing Impaired is (800) 877–
to exist as a legal entity. information collection known as 8339.
Dated: October 4, 2016. ‘‘Federal Home Loan Bank Capital SUPPLEMENTARY INFORMATION:
Stock,’’ which has been assigned control
Federal Deposit Insurance Corporation number 2590–0002 by the Office of A. Need for and Use of the Information
Robert E. Feldman, Management and Budget (OMB) (the Collection
Executive Secretary. collection was previously known as The Federal Home Loan Bank System
[FR Doc. 2016–24361 Filed 10–6–16; 8:45 am] ‘‘Capital Requirements for the Federal consists of eleven regional Federal
BILLING CODE 6714–01–P Home Loan Banks’’). FHFA intends to Home Loan Banks (Banks) and the
submit the information collection to Office of Finance (a joint office that
OMB for review and approval of a three- issues and services the Banks’ debt
FEDERAL DEPOSIT INSURANCE year extension of the control number, securities). The Banks are wholesale
CORPORATION which is due to expire on December 31, financial institutions, organized under
2016. authority of the Federal Home Loan
Notice of Termination; 10082 Temecula
DATES: Interested persons may submit Bank Act (Bank Act) to serve the public
Valley Bank, Temecula, California
comments on or before December 6, interest by enhancing the availability of
The Federal Deposit Insurance 2016. residential housing finance and
Corporation (FDIC), as Receiver for ADDRESSES: Submit comments to FHFA, community lending credit through their
10082 Temecula Valley Bank, identified by ‘‘Proposed Collection; member institutions and, to a limited
Temecula, California (Receiver) has Comment Request: ‘Federal Home Loan extent, through certain eligible
been authorized to take all actions Bank Capital Stock, (No. 2016–N–09)’ ’’ nonmembers. Each Bank is structured as
necessary to terminate the receivership by any of the following methods: a regional cooperative that is owned and
estate of Temecula Valley Bank • Agency Web site: www.fhfa.gov/ controlled by member institutions
(Receivership Estate); the Receiver has open-for-comment-or-input. located within its district, which are
made all dividend distributions • Federal eRulemaking Portal: http:// also its primary customers. An
required by law. www.regulations.gov. Follow the institution that is eligible for
The Receiver has further irrevocably instructions for submitting comments. If membership in a particular Bank must
authorized and appointed FDIC- you submit your comment to the purchase and hold a prescribed
Corporate as its attorney-in-fact to Federal eRulemaking Portal, please also minimum amount of the Bank’s capital
execute and file any and all documents send it by email to FHFA at stock in order to become and remain a
that may be required to be executed by RegComments@fhfa.gov to ensure member of that Bank. With limited
the Receiver which FDIC-Corporate, in timely receipt by the agency. exceptions, only an institution that is a
its sole discretion, deems necessary; • Mail/Hand Delivery: Federal member of a Bank may obtain access to
including but not limited to releases, Housing Finance Agency, Eighth Floor, low cost secured loans, known as
discharges, satisfactions, endorsements, 400 Seventh Street SW., Washington, advances, or other products provided by
assignments and deeds. DC 20219, ATTENTION: Proposed that Bank.
Effective October 1, 2016, the Collection; Comment Request: ‘‘Federal Section 6 of the Bank Act establishes
Receivership Estate has been Home Loan Bank Capital Stock, (No. capital requirements for the Banks and
terminated, the Receiver discharged, 2016–N–09)’’. requires FHFA to issue regulations
and the Receivership Estate has ceased We will post all public comments we prescribing uniform capital standards
to exist as a legal entity. receive without change, including any applicable to all of the Banks.1 Section
personal information you provide, such 6 also establishes parameters relating to
Dated: October 4, 2016.
as your name and address, email the Banks’ capital structures and
Federal Deposit Insurance Corporation.
address, and telephone number, on the requires that each Bank adopt a ‘‘capital
Robert E. Feldman, FHFA Web site at http://www.fhfa.gov. structure plan’’ (capital plan) to
Executive Secretary. In addition, copies of all comments establish, within those statutory
[FR Doc. 2016–24289 Filed 10–6–16; 8:45 am] received will be available for parameters, its own capital structure
BILLING CODE 6714–01–P examination by the public on business and to establish requirements for, and
days between the hours of 10 a.m. and govern transactions in, the Bank’s
3 p.m., at the Federal Housing Finance capital stock.2 FHFA has designated 12
FEDERAL HOUSING FINANCE Agency, Eighth Floor, 400 Seventh CFR part 1277 as the location for its
AGENCY Street SW., Washington, DC 20219. To regulations on Bank Capital
make an appointment to inspect Requirements, Capital Stock, and
[No. 2016–N–09] comments, please call the Office of Capital Plans. Part 1277 currently
General Counsel at (202) 649–3804. includes regulations establishing
Proposed Collection; Comment
FOR FURTHER INFORMATION CONTACT: requirements for the Banks’ capital
Request
Jonathan F. Curtis, Financial Analyst, stock (Subpart C; §§ 1277.20–1277.27)
AGENCY: Federal Housing Finance Division of Federal Home Loan Bank and for the Banks’ capital plans
Agency. Regulation, at (202) 649–3321, by email (Subpart D; §§ 1277.28–1277.29).
ACTION: 60-Day notice of submission of at Jonathan.Curtis@fhfa.gov or by Regulations governing the Banks’ capital
telephone at (202) 649–3321; or Eric requirements are currently located at 12
mstockstill on DSK3G9T082PROD with NOTICES

information collection for approval from
Office of Management and Budget. Raudenbush, Associate General CFR parts 930 and 932 (in the
Counsel, by email at Eric.Raudenbush@ regulations of the former Federal
SUMMARY: In accordance with the fhfa.gov or by telephone at (202) 649– Housing Finance Board), but will be
requirements of the Paperwork 3084, (these are not toll-free numbers), moved into part 1277 in the near future.
Reduction Act of 1995, the Federal Federal Housing Finance Agency, 400
Housing Finance Agency (FHFA or the Seventh Street SW., Washington, DC 1 12 U.S.C. 1426(a).
Agency) is seeking public comments 20219. The Telecommunications Device 2 12 U.S.C. 1426(b), (c).

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69820 Federal Register / Vol. 81, No. 195 / Friday, October 7, 2016 / Notices

Both the Bank Act and FHFA’s I. Membership Stock Purchase FEDERAL HOUSING FINANCE
regulations state that a Bank’s capital Requirement Submissions AGENCY
plan must require its members to
FHFA estimates that the average [No. 2016–N–10]
maintain a minimum investment in the
Bank’s capital stock, but both permit annual number of current and former
Proposed Collection; Comment
each Bank to determine for itself what members and applicants for
Request
that minimum investment is and how membership required to report
each member’s required minimum information needed to calculate a AGENCY: Federal Housing Finance
investment is to be calculated.3 membership stock purchase Agency.
Although each Bank’s capital plan requirement will be 7,320, and that each ACTION: 60-Day notice of submission of
establishes a slightly different method institution will submit 4 quarterly information collection for approval from
for calculating the required minimum reports per year, resulting in an Office of Management and Budget.
stock investment for its members, each estimated total of 29,280 submissions
Bank’s method is tied to some degree to SUMMARY: In accordance with the
annually. The estimate for the average requirements of the Paperwork
both the level of assets held by the time required to prepare, review, and
member institution (typically referred to Reduction Act of 1995, the Federal
submit each report is 0.71 hours. Housing Finance Agency (FHFA or the
as a ‘‘membership stock purchase Accordingly, the estimate for the annual
requirement’’) and the amount of Agency) is seeking public comments
hour burden associated with concerning the currently-approved
advances or other business engaged in
between the member and the Bank membership stock purchase information collection known as
(typically referred to as an ‘‘activity- requirement submissions is (29,280 ‘‘Members of the Banks,’’ which has
based stock purchase requirement’’). reports × 0.71 hours per report) = 20,789 been assigned control number 2590–
A Bank must collect information from hours. 0003 by the Office of Management and
its members to determine the minimum Budget (OMB). FHFA intends to submit
II. Activity-Based Stock Purchase the information collection to OMB for
capital stock investment each member is Requirement Submissions
required to maintain at any point in review and approval of a three-year
time. Although the information needed FHFA estimates that the average extension of the control number, which
to calculate a member’s required is due to expire on December 31, 2016.
number of daily transactions between
minimum investment and the precise DATES: Interested persons may submit
Banks and members that will require the
method through which it is collected exchange of information to confirm the comments on or before December 6,
differ somewhat from Bank to Bank, the 2016.
member’s activity-based stock purchase
Banks typically collect two types of requirement will be 312, and that there ADDRESSES: Submit comments to FHFA,
information. First, in order to calculate will be an average of 261 working days identified by ‘‘Proposed Collection;
and monitor compliance with its per year, resulting in an estimated Comment Request: ‘Members of the
membership stock purchase 81,432 submissions annually. The Banks, (No. 2016–N–10)’ ’’ by any of the
requirement, a Bank typically requires following methods:
estimate for the average preparation
each member to provide and/or confirm • Agency Web site: www.fhfa.gov/
time per submission is 0.16 hours.
a quarterly report on the amount and open-for-comment-or-input.
Accordingly, the estimate for the annual • Federal eRulemaking Portal: http://
types of assets held by that institution.
Second, each time a Bank engages in a hour burden associated with activity- www.regulations.gov. Follow the
business transaction with a member, the based stock purchase requirement instructions for submitting comments. If
Bank typically confirms with the submissions is (81,432 submissions × you submit your comment to the
member the amount of additional Bank 0.16 hours per submission) = 13,029 Federal eRulemaking Portal, please also
capital stock, if any, the member must hours. send it by email to FHFA at
acquire in order to satisfy the Bank’s RegComments@fhfa.gov to ensure
C. Comment Request
activity-based stock purchase timely receipt by the agency.
requirement and the method through FHFA requests written comments on • Mail/Hand Delivery: Federal
which the member will acquire that the following: (1) Whether the collection Housing Finance Agency, Eighth Floor,
stock. of information is necessary for the 400 Seventh Street SW., Washington,
The OMB number for the information DC 20219, ATTENTION: Proposed
proper performance of FHFA functions,
collection is 2590–0002, which is due to Collection; Comment Request:
including whether the information has
expire on December 31, 2016. The likely ‘‘Members of the Banks, (No. 2016–N–
practical utility; (2) The accuracy of 10)’’.
respondents include current and former FHFA’s estimates of the burdens of the
Bank members and institutions applying We will post all public comments we
collection of information; (3) Ways to receive without change, including any
for Bank membership. enhance the quality, utility, and clarity personal information you provide, such
B. Burden Estimate of the information collected; and (4) as your name and address, email
FHFA has analyzed the time burden Ways to minimize the burden of the address, and telephone number, on the
imposed on respondents by the two collection of information on survey FHFA Web site at http://www.fhfa.gov.
collections under this control number respondents, including through the use In addition, copies of all comments
and estimates that the average total of automated collection techniques or received will be available for
other forms of information technology. examination by the public on business
mstockstill on DSK3G9T082PROD with NOTICES

annual hour burden imposed on all
respondents over the next three years Dated: September 30, 2016.
days between the hours of 10 a.m. and
will be 33,818 hours. The estimate for 3 p.m., at the Federal Housing Finance
Kevin Winkler, Agency, Eighth Floor, 400 Seventh
each collection was calculated as
Chief Information Officer, Federal Housing Street SW., Washington, DC 20219. To
follows:
Finance Agency. make an appointment to inspect
3 12 U.S.C. 1426(c)(1); 12 CFR 1277.22, [FR Doc. 2016–24353 Filed 10–6–16; 8:45 am] comments, please call the Office of
1277.28(a). BILLING CODE 8070–01–P General Counsel at (202) 649–3804.

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Document Created: 2018-02-13 16:32:08
Document Modified: 2018-02-13 16:32:08

Category		Regulatory Information
Collection		Federal Register
sudoc Class		AE 2.7: GS 4.107: AE 2.106:
Publisher		Office of the Federal Register, National Archives and Records Administration
Section		Notices
Action		60-Day notice of submission of information collection for approval from Office of Management and Budget.
Dates		Interested persons may submit comments on or before December 6, 2016.
Contact		Jonathan F. Curtis, Financial Analyst, Division of Federal Home Loan Bank Regulation, at (202) 649-3321, by email at [email protected] or by telephone at (202) 649-3321; or Eric Raudenbush, Associate General Counsel, by email at [email protected] or by telephone at (202) 649-3084, (these are not toll-free numbers), Federal Housing Finance Agency, 400 Seventh Street SW., Washington, DC 20219. The Telecommunications Device for the Hearing Impaired is (800) 877-8339.
FR Citation		81 FR 69819