94-20922. Information Collection Submitted to the Office of Management and Budget For Review

[Federal Register Volume 59, Number 164 (Thursday, August 25, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-20922]


[[Page Unknown]]

[Federal Register: August 25, 1994]


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FEDERAL HOUSING FINANCE BOARD

[No. 94-NO4]

 

Information Collection Submitted to the Office of Management and 
Budget For Review

AGENCY: Federal Housing Finance Board.

ACTION: Notice of submission to the Office of Management and Budget 
(OMB) of existing information collection for purposes of renewal of OMB 
approval.

DATES: Interested persons are invited to submit comments on or before 
October 24, 1994.

ADDRESSES: Written comments should be addressed to the Office of 
Information and Regulatory Affairs, Attention Don Arbuckle: Desk 
Officer, Federal Housing Finance Board, 726 Jackson Place, N.W., room 
3208, New Executive Office Building, Washington, D.C. 20503. Requests 
for copies of the information collection and supporting documentation 
should be addressed to Brandon B. Straus, Federal Housing Finance 
Board, 1777 F Street, N.W. Washington, D.C. 20006.

FOR FURTHER INFORMATION CONTACT: Patricia L. Sweeney, Program Analyst, 
District Banks Directorate, [phone]; Brandon B. Straus, 
Attorney-Advisor, [phone], Federal Housing Finance Board, 1777 F 
Street, N.W. Washington, D.C. 20006.

SUPPLEMENTARY INFORMATION: The information collection described below 
has been submitted to OMB for review in order to obtain a renewal of 
OMB approval prior to expiration of the currently assigned OMB control 
number (3069-0002) on October 31, 1994.
    Title of Information Collection: Personal Certification and 
Disclosure Forms.
    Need For and Use of Information Collection: The Federal Home Loan 
Bank Act (Bank Act) establishes certain eligibility requirements for 
Federal Home Loan Bank (Bank) appointive and elective directors and 
authorizes the Federal Housing Finance Board (Board) to promulgate 
rules implementing these requirements. See 12 U.S.C. 1422b(a)(1), 
1427(a), (b), (d).
    Selected provisions of parts 931 and 932 of the Board's regulations 
(director eligibility provisions) implement the statutory eligibility 
requirements for Bank directors. See 12 CFR parts 931 and 932. The 
information collection is used by Board staff to determine whether 
prospective and seated Bank directors satisfy the statutory eligibility 
requirements and are carrying out their official responsibilities 
without conflicts of interest or the appearance of conflicts of 
interest.
    The director eligibility provisions require appointive directors; 
candidates for appointive director; elective directors; and nominees 
for elective director to file forms with the Board certifying their 
compliance with the applicable statutory and regulatory requirements 
and disclosing certain financial relationships.
    Where the information collected indicates that an appointive 
director candidate or elective director nominee is not eligible to 
serve, the person is so notified, and his or her name is withdrawn from 
consideration for the directorship, unless the person intends to remedy 
the ineligibility. If the information collected reveals that a seated 
appointive director is ineligible to serve, the director is so notified 
and is either required to resign or given the opportunity, in the 
Board's discretion, to cure the ineligibility. If the information 
collected indicates that a seated elective director is ineligible, the 
person is so notified, and the directorship becomes vacant immediately, 
by operation of the statute. See 12 U.S.C. 1427(f)(3). The Board would 
promptly notify the affected Bank of any vacancies that have arisen on 
its board.
    Description of Likely Respondents: The respondents to this 
information collection will include all Bank appointive directors; 
candidates for appointive director; elective directors; and nominees 
for elective director.
    Estimate of Burden: The total annual average number of respondents 
is estimated at 350, with one response required per respondent. The 
average hours per response is estimated at 0.9 hours. 

                                        Estimated Annual Reporting Burden                                       
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                                       Average no.                                                              
   Average no. respondents        x   responses per  =    Total average    x   Average hrs.   =    Total average
                                       respondent          responses           per response            hours    
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350...........................                    1                 350                  0.9                 315
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Rita I. Fair,
Acting Managing Director.
[FR Doc. 94-20922 Filed 8-24-94; 8:45 am]
BILLING CODE 6725-01-P