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 decreased the
estimated total annual burden hours to 20,245 from the 23,135 that
were shown in the Supporting Statement submitted in connection with
the 2020 renewal of this information collection. This decrease is
due primarily to the fact that member consolidations are more
frequent since 2020 and as a result, there has been a decline in
membership. With fewer members in the Federal Home Loan Bank
System, the annual burden hours decreased.
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.