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OMB Control No: 2590-0006	ICR Reference No: 200902-2590-005
Status: Historical Active	Previous ICR Reference No: 200409-3069-001
Agency/Subagency: FHFA	Agency Tracking No:
Title: Federal Home Loan Bank Directors
Type of Information Collection: Revision of a currently approved collection	Common Form ICR: No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 02/02/2009
Retrieve Notice of Action (NOA)	Date Received in OIRA: 02/02/2009
Terms of Clearance: In its next submission, the agency should remove cost burdens that are a monetization of the burden hours. The agency is reminded to avoid such double-counting of burden in the future.

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	02/28/2011	36 Months From Approved
Responses	4,715	0	5,010
Time Burden (Hours)	4,581	0	4,210
Cost Burden (Dollars)	607,423	0	96,000

Abstract: The information collection concerns administration of the Federal Home Loan Bank (Bank) director appointment and election process. It is necessary to enable the Federal Housing Finance Board and the Banks to determine whether prospective and incumbent Bank directors satisfy statutory and regulatory eligibility and reporting requirements and to run the director election and appointment processes.

Authorizing Statute(s): US Code: 12 USC 1427 Name of Law: Federal Home Loan Bank Act

Citations for New Statutory Requirements: None

Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	72 FR 44540	08/08/2007
30-day Notice:	Federal Register Citation:	Citation Date:
	72 FR 64628	11/16/2007
Did the Agency receive public comments on this ICR? Yes

ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to Agency Discretion
Annual Number of Responses	4,715	5,010	-295
Annual Time Burden (Hours)	4,581	4,210	371
Annual Cost Burden (Dollars)	607,423	96,000	511,423

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Changing Regulations

Burden decreases because of Program Change due to Agency Discretion: Yes

Burden Reduction Due to: Changing Forms

Short Statement: To determine eligibility of elective directors, the Banks use the Federal Home Loan Bank Elective Director Eligibility Certification Form, which has not changed since the information collection was last cleared in 2004. In 2007, the Finance Board published two rules affecting the eligibility and selection of appointive Bank directors. The first rule, published in April 2007, requires the boards of directors of the Banks to submit to the Finance Board a list of individuals that includes information regarding each individuals eligibility and qualifications to serve as a Bank director. The Finance Board uses the list provided by each Bank to select well-qualified individuals to serve on the Banks board of directors. See 72 Fed. Reg. 15600 (Apr. 2, 2007). The second rule, published in June 2007, clarifies the types of financial interests an appointive Bank director may maintain in a member of the Bank on whose board the director serves. See 72 Fed. Reg. 33637 (June 19, 2007). As a result of these regulatory changes, the Finance Board revised the form the Banks and the Finance Board use to determine whether prospective appointive directors satisfy the statutory and regulatory eligibility requirements and renamed it the Federal Home Loan Bank Appointive Director Application Form (Application Form). The revised Application Form asks individuals for information about their background and qualifications to serve as an appointive Bank director as well as compliance with statutory and regulatory eligibility requirements. It also conforms the information about prohibited financial interests to the new rule. In addition, to reduce the burden on incumbent appointive directors, the Finance Board created a new Federal Home Loan Bank Appointive Bank Director Annual Certification Form (Annual Form) that allows individuals simply to certify that they continue to meet the director eligibility requirements.

Annual Cost to Federal Government: $9,090

Does this IC contain surveys, censuses, or employ statistical methods? No

Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002? No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? Uncollected

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? Uncollected

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? Uncollected

Is this ICR related to the Pandemic Response? Uncollected

Agency Contact: Thomas Jennings 202 408-2553 jenningst@fhfb.gov

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