Published PRA 30-day Federal Register Notice - Bank Capital Requirments 2590-0002

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Federal Register / Vol. 78, No. 205 / Wednesday, October 23, 2013 / Notices

U.S.C. 437f and 11 CFR part 112.
Accordingly, any legal issues that
qualify for consideration under the
Advisory Opinion process are not
appropriate for consideration under this
new procedure. Additionally, this
policy statement does not supersede the
procedures regarding eligibility and
entitlement to public funds set forth in
Commission Directive 24 and 11 CFR
9005.1, 9033.4, 9033.6 or 9033.10.
II. Annual Review
No later than July 1 of each year, the
OC and OGC shall jointly prepare and
distribute to the Commission a written
report containing a summary of the
requests made under the program over
the previous year and a summary of the
Commission’s consideration of those
requests and any action taken thereon.
The annual report shall also include the
Chief Compliance Officer’s and the
General Counsel’s assessment of
whether, and to what extent, the
program has promoted efficiency and
fairness in both the Commission’s report
review process and in the audit process,
as well as their recommendations, if
any, for modifications to the program.
The Commission may terminate or
modify this program through additional
policy statements at any time by an
affirmative vote of four of its members.
On behalf of the Commission,
Dated: September 30, 2013.
Ellen L. Weintraub,
Chair, Federal Election Commission.
[FR Doc. 2013–24317 Filed 10–22–13; 8:45 am]
BILLING CODE 6715–01–P

FEDERAL HOUSING FINANCE
AGENCY
[No. 2013–N–12]

Proposed Collection; Comment
Request
Federal Housing Finance
Agency.
ACTION: 30-day Notice of Submission of
Information Collection for Approval
from the Office of Management and
Budget.
AGENCY:

In accordance with the
requirements of the Paperwork
Reduction Act of 1995, the Federal
Housing Finance Agency (FHFA) is
seeking public comments concerning
the information collection known as
‘‘Capital Requirements for the Federal
Home Loan Banks,’’ which has been
assigned control number 2590–0002 by
the Office of Management and Budget
(OMB). FHFA will submit the
information collection to OMB for

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SUMMARY:

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review and approval of a three-year
extension of the control number, which
is due to expire on October 31, 2013.
Interested persons may submit
comments on or before November 22,
2013.
Comments: Submit comments to the
Office of Information and Regulatory
Affairs of the Office of Management and
Budget, Attention: Desk Officer for the
Federal Housing Finance Agency,
Washington, DC 20503, Fax: 202–395–
6974, Email: OIRA_Submisson@
omb.eop.gov. Please also submit
comments to FHFA using any one of the
following methods:
• Email: [email protected].
Please include Proposed Collection;
Comment Request: ‘‘Capital
Requirements for the Federal Home
Loan Banks, (No. 2013–N–12)’’ in the
subject line of the message.
• Federal eRulemaking Portal: http://
www.regulations.gov. Follow the
instructions for submitting comments. If
you submit your comment to the
Federal eRulemaking Portal, please also
send it by email to FHFA at
[email protected] to ensure
timely receipt by the agency.
• Mail/Hand Delivery: Federal
Housing Finance Agency, Eighth Floor,
400 Seventh Street SW., Washington,
DC 20024, ATTENTION: Public
Comments/Proposed Collection;
Comment Request: ‘‘Capital
Requirements for the Federal Home
Loan Banks, (No. 2013–N–12).’’
We will post all public comments we
receive without change, including any
personal information you provide, such
as your name, address, email address,
and telephone number, on the FHFA
Web site at http://www.fhfa.gov. In
addition, copies of all comments
received will be available for
examination by the public on business
days between the hours of 10 a.m. and
3 p.m., at the Federal Housing Finance
Agency, Eighth Floor, 400 Seventh
Street SW., Washington, DC 20024. To
make an appointment to inspect
comments, please call the Office of
General Counsel at 202–649–3804.

DATES:

FOR FURTHER INFORMATION CONTACT:

Jonathan F. Curtis, Financial Analyst,
Division of Federal Home Loan Bank
Regulation, at 202–649–3321 (not a toll
free number), [email protected],
or by regular mail at the Federal
Housing Finance Agency, 400 Seventh
Street SW., Washington, DC 20024. The
telephone number for the
Telecommunications Device for the Deaf
is 800–877–8339.
SUPPLEMENTARY INFORMATION:

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A. Need For and Use of the Information
Collection
Each of the twelve regional Federal
Home Loan Banks (Banks) is structured
as a member-owned cooperative. An
institution that is eligible for
membership in a particular Bank must
purchase and hold a prescribed
minimum amount of the Bank’s capital
stock in order to become and remain a
member of that Bank.1 With few
exceptions, only an institution that is a
member of a Bank may obtain access to
secured loans, known as advances, or
other products provided by that Bank.
Section 6 of the Federal Home Loan
Bank Act (Bank Act) establishes the
capital structure for the Banks and
requires FHFA to issue regulations
prescribing uniform capital standards
applicable to all of the Banks.2 These
implementing regulations are set forth
in 12 CFR parts 930, 931, 932, and 933:
part 930 contains definitions applicable
to the capital regulations; part 931
establishes the requirements for the
Banks’ capital stock; part 932
establishes risk-based and total capital
requirements for the Banks; and part
933 sets forth the requirements for the
Banks’ ‘‘capital structure plans’’ under
which each Bank establishes its own
capital structure within the parameters
of the statute and FHFA’s implementing
regulations.
Both the Bank Act and FHFA’s
regulations state that a Bank’s capital
structure plan must require its members
to maintain a minimum investment in
the Bank’s capital stock, which is to be
determined for each member in a
manner prescribed by the board of
directors of the Bank and reflected in
the Bank’s capital structure plan.3
Although each Bank’s capital structure
plan establishes a slightly different
method for calculating the required
minimum stock investment for its
members, each Bank’s method is tied to
some degree to both the level of assets
held by the member institution
(typically referred to as a ‘‘membership
stock purchase requirement’’) and the
amount of advances or other business
engaged in between the member and the
Bank (typically referred to as an
‘‘activity-based stock purchase
requirement’’).
The Banks use this information
collection to determine the amount of
capital stock a member must purchase
to maintain membership in and to
obtain services from the Bank under its
capital structure plan, and to confirm
that its members are complying with the
1 See

12 U.S.C. 1426(c)(1); 12 CFR 931.3, 1263.20.
12 U.S.C. 1426.
3 See 12 U.S.C. 1426(c)(1); 12 CFR 933.2(a).
2 See

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Federal Register / Vol. 78, No. 205 / Wednesday, October 23, 2013 / Notices
Bank’s stock purchase requirements.
Although the required information and
the precise method through which it is
collected differ from Bank to Bank, there
are for each Bank typically two
components to the information
collection. First, in order to calculate
and monitor compliance with its
membership stock purchase
requirement, a Bank typically requires
each member to provide and/or confirm
a quarterly or annual report on the
amount and types of assets held by that
institution. Second, at the time it
engages in a business transaction with a
member, each Bank typically confirms
with the member the amount of
additional Bank capital stock, if any, the
member must acquire in order to satisfy
the Bank’s activity-based stock purchase
requirement and the method through
which the member will acquire that
stock.
The OMB number for the information
collection is 2590–0002, which is due to
expire on October 31, 2013. The likely
respondents include Bank members.

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B. Burden Estimate
FHFA has analyzed the cost and hour
burden for the two facets of this
information collection: the membership
stock purchase requirement and the
activity-based stock purchase
requirement.
FHFA estimates the total annual
average number of ‘‘membership stock
purchase requirement’’ respondents at
30,416 (7,604 respondents x 4 quarterly
responses per respondent). The estimate
for the average hours per response is
0.71 hours. The estimate for the annual
hour burden for ‘‘membership stock
purchase requirement’’ respondents is
21,595 hours (7,604 respondents x 4
responses per respondent x 0.71 hours
per response). The estimate for the
annual cost burden is $1,390,924.
FHFA estimates the total annual
average number of ‘‘activity-based stock
purchase requirement’’ respondents at
81,120 (312 daily transactions x 260
working days), with 1 response per
respondent. The estimate for the average
hours per response is 0.16 hours. The
estimate for the annual hour burden for
‘‘activity-based stock purchase
requirement’’ respondents is 12,979
hours (81,120 average daily borrower
responses x 0.16 average hours per
response). The estimate for the annual
cost burden for member respondents is
$856,627.
The estimated total annual hour
burden on Bank members from this
information collection is 34,574 hours.
The aggregate total annual cost to Bank
members is $2,247,551. The estimated

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total annual number of submissions is
111,536.
C. Comment Request
In accordance with the requirements
of 5 CFR 1320.8(d), FHFA published a
request for public comments regarding
this information collection in the
Federal Register on July 1, 2013. See 78
FR 39293 (July 1, 2013). The 60-day
comment period closed on August 30,
2013. No public comments were
received.
FHFA requests written comments on
the following: (1) Whether the collection
of information is necessary for the
proper performance of FHFA functions,
including whether the information has
practical utility; (2) the accuracy of
FHFA’s estimates of the burdens of the
collection of information; (3) ways to
enhance the quality, utility, and clarity
of the information collected; and (4)
ways to minimize the burden of the
collection of information on
respondents, including through the use
of automated collection techniques or
other forms of information technology.
Dated: September 30, 2013.
Kevin Winkler,
Chief Information Officer, Federal Housing
Finance Agency.
[FR Doc. 2013–24734 Filed 10–22–13; 8:45 am]
BILLING CODE 8070–01–P

FEDERAL HOUSING FINANCE
AGENCY
[No. 2013–N–13]

Proposed Collection; Comment
Request
Federal Housing Finance
Agency.
ACTION: 30-day Notice of Submission of
Information Collection for Approval
from the Office of Management and
Budget.
AGENCY:

In accordance with the
requirements of the Paperwork
Reduction Act of 1995, the Federal
Housing Finance Agency (FHFA) is
seeking public comments concerning
the information collection known as
‘‘Members of the Banks,’’ which has
been assigned control number 2590–
0003 by the Office of Management and
Budget (OMB). FHFA will submit the
information collection to OMB for
review and approval of a three-year
extension of the control number, which
is due to expire on October 31, 2013.
DATES: Interested persons may submit
comments on or before November 22,
2013.
Comments: Submit comments to the
Office of Information and Regulatory
SUMMARY:

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63205

Affairs of the Office of Management and
Budget, Attention: Desk Officer for the
Federal Housing Finance Agency,
Washington, DC 20503, Fax: 202–395–
6974, Email: OIRA_Submisson@
omb.eop.gov. Please also submit
comments to FHFA using any one of the
following methods:
• Email: [email protected].
Please include Proposed Collection;
Comment Request: ‘‘Members of the
Banks, (No. 2013–N–13)’’ in the subject
line of the message.
• Federal eRulemaking Portal: http://
www.regulations.gov. Follow the
instructions for submitting comments. If
you submit your comment to the
Federal eRulemaking Portal, please also
send it by email to FHFA at
[email protected] to ensure
timely receipt by the agency.
• Mail/Hand Delivery: Federal
Housing Finance Agency, Eighth Floor,
400 Seventh Street SW., Washington,
DC 20024, ATTENTION: Public
Comments/Proposed Collection;
Comment Request: ‘‘Members of the
Banks, (No. 2013–N–13).’’
We will post all public comments we
receive without change, including any
personal information you provide, such
as your name, address, email address,
and telephone number, on the FHFA
Web site at http://www.fhfa.gov. In
addition, copies of all comments
received will be available for
examination by the public on business
days between the hours of 10 a.m. and
3 p.m., at the Federal Housing Finance
Agency, Eighth Floor, 400 Seventh
Street SW., Washington, DC 20024. To
make an appointment to inspect
comments, please call the Office of
General Counsel at 202–649–3804.
FOR FURTHER INFORMATION CONTACT:
Jonathan F. Curtis, Financial Analyst,
Division of Federal Home Loan Bank
Regulation, at 202–649–3321 (not a toll
free number), [email protected],
or by regular mail at the Federal
Housing Finance Agency, 400 Seventh
Street SW., Washington, DC 20024. The
telephone number for the
Telecommunications Device for the Deaf
is 800–877–8339.
SUPPLEMENTARY INFORMATION:
A. Need For and Use of the Information
Collection
Section 4 of the Federal Home Loan
Bank Act (Bank Act) establishes the
eligibility requirements an institution
must meet in order to become a member
of a Federal Home Loan Bank (Bank).1
FHFA’s Bank membership regulation,
located at 12 CFR part 1263, implements
1 See

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12 U.S.C. 1424.

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