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.
US Code:
12
USC 1424 Name of Law: Federal Home Loan Bank Act, as
amended
FHFA has slightly decreased the
estimated total annual burden hours to 2,181 from the 2,188 that
were shown in the Supporting Statement submitted in connection with
the 2020 renewal of this information collection, due primarily to
somewhat lower projections for the average number of membership
applications to be received by the Banks over the next three years.
The burden increased in the number of hours because more staff time
is needed to review and respond to an appeal.
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.