emcdonald on DSK67QTVN1PROD with NOTICES

Federal Register / Vol. 78, No. 205 / Wednesday, October 23, 2013 / Notices 63203 

FEDERAL ELECTION COMMISSION 

[Notice 2013–14] 

Policy Statement Regarding a Program 

for Requesting Consideration of Legal 

Questions by the Commission 

AGENCY: Federal Election Commission. 

ACTION: Policy statement. 

SUMMARY: The Federal Election 

Commission (‘‘Commission’’) adopted a 

program on August 1, 2011, providing 

for a means by which persons and 

entities may have a legal question 

considered by the Commission earlier in 

both the report review process and the 

audit process. This new policy is 

identical to that August 1, 2011 

program, except that it provides an 

alternative electronic means to file a 

request with the Commission. 

DATES: Effective October 23, 2013. 

FOR FURTHER INFORMATION CONTACT: Mr. 

Lorenzo Holloway, Assistant General 

Counsel, or Margaret Forman, Attorney, 

999 E Street NW., Washington, DC 

20463, (202) 694–1650 or (800) 424– 

9530. 

SUPPLEMENTARY INFORMATION: On August 

1, 2011, the Commission adopted a 

program providing for a means by 

which persons and entities may have a 

legal question considered by the 

Commission earlier in both the report 

review process and the audit process. 

Specifically, when the Office of 

Compliance (‘‘OC’’) (which includes the 

Reports Analysis Division and the Audit 

Division) requests that a person or entity 

take corrective action during the report 

review or audit process, if the person or 

entity disagrees with the request based 

upon a material dispute on a question 

of law, the person or entity may seek 

Commission consideration of the issue 

pursuant to this procedure. This 

Commission is now revising this 

program. As revised, the program is 

identical to that August 1, 2011 

program, except that it provides 

alternative means to file a request with 

the Commission. This change was made 

to address and clarify timeliness issues 

due to delays in the processing and 

receipt of requests mailed to the 

Commission, by encouraging requests to 

be filed electronically by email. 

Processing delays can result in an 

untimely submission of a request under 

the program. Persons and entities 

making such a request may not be aware 

that these processing delays can occur 

when documents are sent via first class 

mail to a federal government agency. 

The policy statement regarding this 

program is reprinted in its entirety, 

below. It includes the revisions outlined 

above, which appear in the third 

paragraph of the ‘‘Procedures’’ section, 

below. 

I. Procedures 

Within 15 business days of a 

determination by the Reports Analysis 

Division or Audit Division that a person 

or entity remains obligated to take 

corrective action to resolve an issue that 

has arisen during the report review or 

audit process, the person or entity may 

seek Commission consideration if a 

material dispute on a question of law 

exists with respect to the recommended 

corrective action.1 A ‘‘determination’’ 

for purposes of triggering the 15 

business days is either: (1) Notification 

to the person or entity of legal guidance 

prepared by the Office of General 

Counsel (‘‘OGC’’) at the request of the 

Reports Analysis Division 

recommending the corrective action; or 

(2) the end of the Committee’s Audit 

Exit Conference response period. 

Any request for consideration by a 

Committee during the report review 

process or the audit process shall be 

limited to questions of law on material 

issues, when: (1) The legal issue is 

novel, complex, or pertains to an 

unsettled question of law; (2) there has 

been intervening legislation, 

rulemaking, or litigation since the 

Commission last considered the issue; 

or (3) the request to take corrective 

action is contrary to or otherwise 

inconsistent with prior Commission 

matters dealing with the same issue. 

The request must specify the question of 

law at issue and why it is subject to 

Commission consideration. It should 

discuss, when appropriate, prior 

Commission matters raising the same 

issue, relevant court decisions, and any 

other analysis of the issue that may 

assist the Commission in its decision 

making. The Commission will not 

consider factual disputes under this 

procedure, and any requests for 

consideration other than on questions of 

law on material issues will not be 

granted. 

All requests, including any extension 

requests, must be received by the 

Commission within 15 business days of 

the determination of corrective action. 

All requests should be directed to the 

attention of the Commission Secretary. 

Requestors may submit requests 

electronically via email to 

LegalRequestProgram@fec.gov. 

Requestors are encouraged to submit 

comments electronically to ensure 

1 Many disputes involving corrective action 

requests hinge on questions of fact rather than 

questions of law, and thus are not appropriate for 

this procedure. 

timely receipt and consideration. 

Alternatively, requests may be 

submitted in paper form. Paper requests 

must be sent to the Federal Election 

Commission, Attn.: Commission 

Secretary, 999 E Street NW., 

Washington, DC, 20463. Upon receipt of 

a request, the Commission Secretary 

shall forward a copy of any request to 

each Commissioner, the General 

Counsel, and the Staff Director. 

Any request for an extension of time 

to file will be considered on a case-bycase basis and will only be granted if 

good cause is shown, and the 

Commission approves the extension 

request by four affirmative votes within 

five business days of receipt of the 

extension request. Within five business 

days of notification to the 

Commissioners of a request for 

consideration of a legal question, if two 

or more Commissioners agree that the 

Commission should consider the 

request, OGC will prepare a 

recommendation and, within 15 

business days thereafter, circulate the 

recommendation in accordance with all 

applicable Commission directives. 

After the recommendation is 

circulated for a Commission vote, in the 

event of an objection, the matter shall be 

automatically placed on the next 

meeting agenda consistent with the 

Sunshine Act, 5 U.S.C. 552b(g), and 

applicable Commission regulations, 11 

CFR part 2. However, if within 60 

business days of the filing of a request 

for consideration, the Commission has 

not resolved the issue or provided 

guidance on how to proceed with the 

matter by the affirmative vote of four or 

more Commissioners, the OC may 

proceed with the matter. After the 60 

business days has elapsed, any 

requestor will be provided a copy of 

OGC’s recommendation memorandum 

and an accompanying vote certification, 

or if no such certification exists, a cover 

page stating the disposition of the 

memoranda. Confidential information 

will be redacted as necessary. 

After the request review process has 

concluded, or a Final Audit Report has 

been approved, a copy of the request for 

consideration, as well as the 

recommendation memorandum and 

accompanying vote certification or 

disposition memorandum, will be 

placed with the Committee’s filings or 

audit documents on the Commission’s 

Web site within 30 days. These 

materials will also be placed on the 

Commission’s Web page dedicated to 

legal questions considered by the 

Commission under this program. 

This procedure is not intended to 

circumvent or supplant the Advisory 

Opinion process provided under 2 

emcdonald on DSK67QTVN1PROD with NOTICES

63204 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 

AGENCY: Federal Housing Finance 

Agency. 

ACTION: 30-day Notice of Submission of 

Information Collection for Approval 

from the Office of Management and 

Budget. 

SUMMARY: 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 

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 

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: RegComments@fhfa.gov. 

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 

RegComments@fhfa.gov 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. 

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), Jonathan.Curtis@fhfa.gov, 

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 

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. 2 See 12 U.S.C. 1426. 

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