[Federal Register: June 30, 1999 (Volume 64, Number 125)]
[Notices]               
[Page 35158]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr30jn99-86]                         


[[Page 35158]]

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FEDERAL HOUSING FINANCE BOARD

[No. 99-N-8]

 
Proposed Collection; Comment Request

AGENCY: Federal Housing Finance Board.

ACTION: Notice.

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SUMMARY: In accordance with the requirements of the Paperwork Reduction 
Act of 1995, the Federal Housing Finance Board (Finance Board) hereby 
gives notice that it is seeking public comments concerning a three-year 
extension by the Office of Management and Budget (OMB) of the 
previously approved information collection entitled ``Affordable 
Housing Program.''

DATES: Interested persons may submit comments on or before August 30, 
1999.

ADDRESSES: Address comments and requests for copies of the information 
collection to Elaine L. Baker, Secretary to the Board, by telephone at 
202/408-2837, by electronic mail at bakere@fhfb.gov, or by regular mail 
at the Federal Housing Finance Board, 1777 F Street, NW, Washington, DC 
20006.

FOR FURTHER INFORMATION CONTACT: Janet M. Fronckowiak, Associate 
Director, Program Assistance Division, Office of Policy, Research and 
Analysis, by telephone at 202/408-2575 or by electronic mail at 
fronckowiakj@fhfb.gov, or Melissa L. Allen, Program Analyst, Program 
Assistance Division, Office of Policy, Research and Analysis by 
telephone at 202/408-2524 or by electronic mail at allenm@fhfb.gov, or 
by regular mail at the Federal Housing Finance Board, 1777 F Street, 
NW, Washington, DC 20006.

SUPPLEMENTARY INFORMATION:

A. Need for and Use of the Information Collection

    Section 10(j) of the Federal Home Loan Bank Act (Bank Act) requires 
the Federal Housing Finance Board (Finance Board) to promulgate 
regulations under which the 12 Federal Home Loan Banks (FHLBanks) must 
establish an Affordable Housing Program (AHP) to make subsidized 
advances to members engaged in lending for long term, low-and moderate-
income, owner-occupied and affordable rental housing at subsidized 
interest rates. See 12 U.S.C. 1430(j). Section 10(j) also establishes 
the standards and requirements for making subsidized AHP advances to 
FHLBank members. Id. Part 960 of the Finance Board's regulations 
implements the statutory requirements and authorizes the FHLBanks to 
make AHP funding decisions. See 12 CFR part 960.
    The information collection contained in part 960 is necessary to 
enable and is used by the FHLBanks to determine whether an AHP 
applicant satisfies the statutory and regulatory requirements to 
receive subsidized advances or direct subsidies under the AHP. The 
Finance Board requires and uses the information collection, through 
examination of the FHLBanks, to ensure that a FHLBank's funding 
decisions, and the use of the funds awarded, are consistent with 
statutory and regulatory requirements.
    The OMB number for the information collection is 3069-006. The OMB 
clearance for the information collection expires on December 31, 1999.
    The likely respondents include applicants for AHP funding.

B. Burden Estimate

    The Finance Board estimates the total annual average number of 
respondents at 7,462, with 1.33 responses per respondent. The estimate 
for the average hours per response is 6.5 hours. The estimate for the 
total annual hour burden is 64,509 hours (7,462 respondents x 1.33 
responses per respondent x approximately 6.5 hours per response).

C. Comment Request

    The Finance Board requests written comments on the following: (1) 
Whether the collection of information is necessary for the proper 
performance of Finance Board functions, including whether the 
information has practical utility; (2) the accuracy of the Finance 
Board'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.

    By the Federal Housing Finance Board.

    Dated: June 24, 1999.
William W. Ginsberg,
Managing Director.
[FR Doc. 99-16690 Filed 6-29-99; 8:45 am]
BILLING CODE 6725-01-P