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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:
202004-2590-001
Status:
Historical Active
Previous ICR Reference No:
201612-2590-003
Agency/Subagency:
FHFA
Agency Tracking No:
2020-N-10
Title:
Federal Home Loan Bank Capital Stock
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:
11/20/2020
Retrieve Notice of Action (NOA)
Date Received in OIRA:
04/29/2020
Terms of Clearance:
Inventory as of this Action
Requested
Previously Approved
Expiration Date
11/30/2023
36 Months From Approved
11/30/2020
Responses
98,300
0
96,321
Time Burden (Hours)
23,135
0
15,230
Cost Burden (Dollars)
0
0
0
Abstract:
The 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.
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:
85 FR 9471
02/19/2020
30-day Notice:
Federal Register Citation:
Citation Date:
85 FR 23829
04/29/2020
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 Requirement Submissions
Membership Stock Purchase Requirement Submissions
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
98,300
96,321
0
1,979
0
0
Annual Time Burden (Hours)
23,135
15,230
0
7,905
0
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:
FHFA has increased the estimated total annual burden hours to 23,135 from the 15,230 that were shown in the Supporting Statement submitted in connection with the 2017 renewal of this information collection. This increase is due primarily to the fact that, based on feedback from Bank member institutions, FHFA has increased its per report burden estimate for the membership stock purchase requirement submissions from 0.5 to 0.7, and for the activity stock purchase requirement submissions from 0.13 to 0.2. The estimated total number of activity stock reports per year also rose slightly, to 91,350 from 89,001, although this was somewhat offset by a lower number of membership stock reports, to 6,950 from 7,320, due to declines in Bank membership. The estimated costs associated with the burden hours rose to $2,010,760 from $1,319,520. This was mostly due to the overall increase in estimated burden hours, but also to a slight increase in the estimated per hour costs for the employees performing the functions.
Annual Cost to Federal Government:
$0
Does this IC contain surveys, censuses, or employ statistical methods?
No
Does this ICR request any personally identifiable information (see
OMB Circular No. A-130
for an explanation of this term)? Please consult with your agency's privacy program when making this determination.
No
Does this ICR include a form that requires a Privacy Act Statement (see
5 U.S.C. §552a(e)(3)
)? Please consult with your agency's privacy program when making this determination.
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?
No
Agency Contact:
Rebecca Williams 202 649-3719 rebecca.williams@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:
04/29/2020
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