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.
US Code:
12
USC 1426 Name of Law: Federal Home Loan Bank Act, as
amended
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.
$0
No
No
No
No
No
No
No
Rebecca Williams 202 649-3719
rebecca.williams@fhfa.gov
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:
(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;
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.