View Information Collection Request (ICR) Package
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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:
2590-0003
ICR Reference No:
201612-2590-002
Status:
Historical Active
Previous ICR Reference No:
201310-2590-002
Agency/Subagency:
FHFA
Agency Tracking No:
2016-N-15
Title:
Members of the Banks
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:
03/01/2017
Retrieve Notice of Action (NOA)
Date Received in OIRA:
12/28/2016
Terms of Clearance:
Inventory as of this Action
Requested
Previously Approved
Expiration Date
03/31/2020
36 Months From Approved
02/28/2017
Responses
191
0
434
Time Burden (Hours)
2,351
0
2,262
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 if a respondent satisfies the statutory and regulatory requirements to be certified initially and maintain its status as a member eligible to obtain Bank advances. Respondents include financial institutions that are or are eligible to become Bank members.
Authorizing Statute(s):
US Code:
12 USC 1424
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:
81 FR 69820
10/07/2016
30-day Notice:
Federal Register Citation:
Citation Date:
81 FR 95593
12/28/2016
Did the Agency receive public comments on this ICR?
No
Number of Information Collection (IC) in this ICR:
4
IC Title
Form No.
Form Name
Appeals of Membership Denials
Membership Applications
Notices of Intent to Withdraw From Membership
Requests for Transfer of Membership to Another Bank District
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
191
434
0
-243
0
0
Annual Time Burden (Hours)
2,351
2,262
0
89
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:
Yes
Burden Reduction Due to:
Miscellaneous Actions
Short Statement:
FHFA has increased the estimated total annual burden hours to 2,351 from the 2,262 that were shown in the Supporting Statement submitted in connection with the 2013 renewal of this information collection. Despite the estimated number of membership applications per year dropping slightly from 157 to 151, the overall burden estimate for the Membership Applications IC increased from 1,837 hours to 2,265 hours due to a higher estimated processing time per application. FHFA adopted a higher per-application estimate because a greater number of institutions applying for Bank membership are insurance companies, the applications for which take a longer time to prepare than those for depository institutions due to slightly different eligibility and application requirements. In addition, the burden estimate for the Requests for Transfer of Membership to Another Bank District IC increased from 1.5 hours to 70 hours due to a greater estimated number of membership transfers (which, in part, are due to a higher number of existing Bank members merging with members of other Banks or with non-members). Counterbalancing these increases was a decrease from 413 hours to 6 hours in the overall burden estimate for the Notices of Intent to Withdraw from Membership IC. This was due to a dramatic decrease in the estimated number of members requesting to withdraw from Bank membership—from 276 to 4. FHFA made this adjustment after a more in-depth review of the data indicated that, of those Bank members whose membership has been terminated in recent years, the vast majority were merged out of existence—a process that does not involve the preparation of a notice of intent to withdraw. The estimated burden on FHFA under Item #14 decreased from 481 hours to 142 hours. This decrease is due primarily to the fact that the updating of FHFA’s electronic membership database system has enabled staff to track membership application approvals and other Bank membership activity much more efficiently.
Annual Cost to Federal Government:
$12,304
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:
12/28/2016
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