This approval is subject to the condition that FHFB provide a preliminary report to the OMB Desk Officer by June 1996 on the feasibility of obtaining data electronically: 1) which was previously submitted by applicants in regular reports to a supervisory agency, and 2) for insurance firm applicants directly from the named rating services. FHFB'S report should include an assessment of the potential benefits and costs to applicants, the FHFB, the supervisory agency, and the insurance rating services. As the revised application process gets underway, the report should also include plans for obtaining additional comments from trade associations and selected individual applicants concerning ways in which reporting associated with the application process might be improved. Finally, FHFB should provide a correction worksheet for items 13 e and f to ensure accurate entries. Similarly item 14 should be corrected, as necessary.
Inventory as of this Action
Requested
Previously Approved
12/31/1998
12/31/1998
08/31/1996
6,412
0
4,212
59,152
0
13,705
1,684,000
0
0
Need information to determine compliance of applicant financial institutions with eligibility and other requirements for membership in the Federal Home Loan Bank System.
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.
Members of the Banks