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View ICR - OIRA Conclusion
OMB Control No:
2590-0005
ICR Reference No:
201111-2590-001
Status:
Historical Inactive
Previous ICR Reference No:
200908-2590-001
Agency/Subagency:
FHFA
Agency Tracking No:
Title:
Community Support Requirements
Type of Information Collection:
Revision of a currently approved collection
Common Form ICR:
No
Type of Review Request:
Regular
OIRA Conclusion Action:
Comment filed on proposed rule and continue
Conclusion Date:
07/08/2012
Retrieve Notice of Action (NOA)
Date Received in OIRA:
12/21/2011
Terms of Clearance:
The Agency will respond to comments on the proposed rule.
Inventory as of this Action
Requested
Previously Approved
Expiration Date
10/31/2012
36 Months From Approved
01/31/2013
Responses
4,100
4,100
4,100
Time Burden (Hours)
7,190
4,115
7,190
Cost Burden (Dollars)
0
0
0
Abstract:
The Federal Housing Finance Agency (FHFA) has a continued need to use the existing collection of information to determine if Federal Home Loan Bank members satisfy the statutory and regulatory community support requirements.
Authorizing Statute(s):
US Code: 12 USC 1430(g)(1) 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:
2590-AA38
Proposed rulemaking
76 FR 70069
11/10/2011
Federal Register Notices & Comments
Did the Agency receive public comments on this ICR?
No
Number of Information Collection (IC) in this ICR:
1
IC Title
Form No.
Form Name
Community Support Requirements
Burden increases because of Program Change due to Agency Discretion:
No
Burden Increase Due to:
Burden decreases because of Program Change due to Agency Discretion:
Yes
Burden Reduction Due to:
Miscellaneous Actions
Short Statement:
The Federal Housing Finance Agency (FHFA) issued a notice of proposed rulemaking that would amend 12 CFR part 1290 to transfer from FHFA to the 12 Federal Home Loan Banks (Banks) the responsibility for collecting information on members' compliance with the community support standards, and for processing and acting on members' requests to remove restrictions on access to long-term advances. Under the proposed rule, the use of FHFA Form 60 would be discontinued, although the Banks would be free to adopt a similar form or to use other appropriate means for the collection of information on compliance with the community support standards. As described in the Supporting Statement, the scope of compliance information to be collected will be slightly narrower under the proposed rule because members will no longer be required to report their current Community Reinvestment Act evaluation ratings (the Banks will obtain this information from other sources). The proposed rule would not substantively or materially modify the approved information collection with respect to the members' information collection burden, although it would materially decrease the time and hour burden on FHFA. The currently approved time burden (7,190) included FHFA and the Banks time burden; however, this should have been reported as 4,115 hours (the members time burden).
Annual Cost to Federal Government:
$1,680
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 [PPACA, P.L. 111-148 & 111-152]?
No
Is this ICR related to the Dodd-Frank Act [Dodd-Frank Wall Street Reform and Consumer Protection Act, P.L. 111-203]?
No
Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)?
No
Agency Contact:
Eric Raudenbush 202 414-6421 eric.raudenbush@fhfa.gov
Common Form ICR:
No
On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
(a) It is necessary for the proper performance of agency functions;
(b) It avoids unnecessary duplication;
(c) It reduces burden on small entities;
(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;
(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;
(f) It indicates the retention periods for recordkeeping requirements;
(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control number;
(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.
(i) It uses effective and efficient statistical survey methodology (if applicable); and
(j) It makes appropriate use of information technology.
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
Certification Date:
12/21/2011
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