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Please note that the OMB number and expiration date may not have been determined when this Information Collection Request and associated Information Collection forms were submitted to OMB. The approved OMB number and expiration date may be found by clicking on the Notice of Action link below.
View ICR - OIRA Conclusion
OMB Control No:
2590-0002
ICR Reference No:
201309-2590-001
Status:
Historical Active
Previous ICR Reference No:
201006-2590-002
Agency/Subagency:
FHFA
Agency Tracking No:
Title:
Capital Requirements for the Federal Home Loan Banks
Type of Information Collection:
Revision of a currently approved collection
Common Form ICR:
No
Type of Review Request:
Emergency
Approval Requested By:
09/30/2013
OIRA Conclusion Action:
Approved without change
Conclusion Date:
09/30/2013
Retrieve Notice of Action (NOA)
Date Received in OIRA:
09/30/2013
Terms of Clearance:
FHFA shall make necessary procedural changes to avoid emergency requests in the future.
Inventory as of this Action
Requested
Previously Approved
Expiration Date
10/31/2013
6 Months From Approved
09/30/2013
Responses
111,536
0
60,452
Time Burden (Hours)
34,574
0
3,023
Cost Burden (Dollars)
0
0
0
Abstract:
Information collection is necessary to enable the Federal Home Loan Banks (Banks) and, where appropriate, the Federal Housing Finance Agency (FHFA) to determine whether a Bank member/respondent satisfies the statutory and regulatory requirements for capital stock purchase requirements to be a member of and to borrow from a Bank. Respondents include financial institutions that are eligible for Bank membership, and members that utilize Bank products and services, such as Bank advances.
Emergency Justfication:
The comment period for the collection ended on August 30, 2013. During and after the comment period, FHFA canvassed several Federal Home Loan Banks (Banks), each of which in turn contacted several of its member institutions, to obtain more accurate estimates of the burdens and costs imposed by the information collection. Because of the broad-based outreach, it took longer than anticipated to obtain useful responses. Once an adequate number of responses were received, it became apparent that some of the calculations used in the burden calculations for the 2010 clearances for the collections were incorrect. FHFA was required to re-confirm its data and calculations and to write explanations for the new burden estimates. Unfortunately, the process of integrating and reviewing these new burden estimates was not completed in time for the 30-day notices to be published by the September 30th expiration date. Because of this, we emergency extension of the clearance for the existing information collections to give the agency time to publish the 30-day notice for the request. Pursuant to 5 CFR 1320.13(d), FHFA also requests a waiver of the notice requirement for this emergency request because it anticipates filing the normal 30-day notice very soon.
Authorizing Statute(s):
US Code:
12 USC 1426
Name of Law: Federal Home Loan Bank Act, as amended
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:
78 FR 39293
07/01/2013
Did the Agency receive public comments on this ICR?
No
Number of Information Collection (IC) in this ICR:
2
IC Title
Form No.
Form Name
Activity-Based Stock Purchase Requirements
Membership Stock Purchase Requirements
ICR Summary of Burden
Total Approved
Previously Approved
Change Due to New Statute
Change Due to Agency Discretion
Change Due to Adjustment in Estimate
Change Due to Potential Violation of the PRA
Annual Number of Responses
111,536
60,452
0
-119,508
170,592
0
Annual Time Burden (Hours)
34,574
3,023
0
23,022
8,529
0
Annual Cost Burden (Dollars)
0
0
0
0
0
0
Burden increases because of Program Change due to Agency Discretion:
Yes
Burden Increase Due to:
Miscellaneous Actions
Burden decreases because of Program Change due to Agency Discretion:
No
Burden Reduction Due to:
Short Statement:
Agency's more accurate calculations.
Annual Cost to Federal Government:
$0
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]?
No
Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]?
No
Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)?
No
Is this ICR related to the Pandemic Response?
Uncollected
Agency Contact:
Jonathan Curtis 2024082866 jonathan.curtis@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:
09/30/2013
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