Proposed Collection; Comment Request
FOR FURTHER INFORMATION CONTACT: Patricia L. Sweeney, Management Analyst, Division of FHLBank Regulation, patricia.sweeney@fhfa.gov, (202) 408–2872 (this is not a toll-free number), Federal Housing Finance Agency, 1625 Eye Street, NW., Washington, DC 20006; Eric M. Raudenbush, Assistant General Counsel, eric.raudenbush@fhfa.gov, (202) 414–6421 (this is not a toll-free number); Federal Housing Finance Agency, Fourth Floor, 1700 G Street, NW., Washington, DC 20552. If you are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services. Additionally, the TDD 1-(800) number referenced in Rulemaking documents attached to this page is obsolete and the 7-1-1 number should be used.
SUMMARY: The Federal Housing Finance Agency (FHFA) submitted to the Office of Management and Budget (OMB) for emergency review, revisions to the information collection, "Federal Home Loan Bank Directors," OMB No. 2590–0006. The revisions were approved under the Paperwork Reduction Act of 1995, Public Law 104–13. Specifically, FHFA requested review of revisions to the 2008 OMB-approved Federal Home Loan Bank Elective Director Eligibility Certification Form, the Federal Home Loan Bank Appointive Director Application Form, and the Federal Home Loan Bank Appointive Director Certification Form. Since 2008, when the Federal Home Loan Banks’ (Bank) former regulator, the Federal Housing Finance Board (Finance Board), last obtained OMB approval for this information collection, there have been statutory and regulatory changes affecting the use of the forms. The passage of the Housing and Economic Recovery Act of 2008 (HERA), Public Law 110–289 (2008) amended section 7 of the Federal Home Loan Bank Act (Bank Act) which provided for the appointment of a portion of each Federal Home Loan Bank’s board of directors. The HERA amendments resulted in needed revisions to the current OMB-approved forms associated with these appointments. The first of the revisions to the forms includes renaming them respectively, the Federal Home Loan Bank Member Director Eligibility Certification Form, the Federal Home Loan Bank Independent Director Application Form, and the Federal Home Loan Bank Independent Director Annual Certification Form. A more detailed description of the remaining revisions is discussed below in Overview of the Information Collection. FHFA requested emergency review of these revisions because the revised forms are being used in January 2011. These revisions did not result in a change in burden.