Federal Register / Vol. 88, No. 184 / Monday, September 25, 2023 / Notices 65681 

1See 12 U.S.C. 1424(a). 

2See 12 U.S.C. 1424(b). 

3See 12 U.S.C. 1426(d). 

methodology and assumptions used; (c) 

ways to enhance the quality, utility, and 

clarity of the information to be 

collected; and (d) 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. All comments will become 

a matter of public record. 

Federal Deposit Insurance Corporation. 

Dated at Washington, DC, on September 

20, 2023. 

James P. Sheesley, 

Assistant Executive Secretary. 

[FR Doc. 2023–20680 Filed 9–22–23; 8:45 am] 

BILLING CODE 6714–01–P 

FEDERAL HOUSING FINANCE 

AGENCY 

[No. 2023–N–11] 

Proposed Collection; Comment 

Request 

AGENCY: Federal Housing Finance 

Agency. 

ACTION: Members of Federal Home Loan 

Banks—30-day notice of submission of 

information collection for approval from 

Office of Management and Budget. 

SUMMARY: In accordance with the 

requirements of the Paperwork 

Reduction Act of 1995 (PRA), the 

Federal Housing Finance Agency 

(FHFA) is seeking public comments 

concerning an 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 

intends to 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 September 30, 2023. 

DATES: Interested persons may submit 

comments on or before October 25, 

2023. 

ADDRESSES: 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– 

3047, Email: OIRA_submission@

omb.eop.gov. Please also submit 

comments to FHFA, identified by 

‘‘Proposed Collection; Comment 

Request: ‘Members of the Banks, (No. 

2023–N–11)’ ’’ by any of the following 

methods: 

• Agency Website: www.fhfa.gov/ 

open-for-comment-or-input. 

• 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, Office of 

General Counsel, 400 Seventh Street 

SW, Washington, DC 20219, 

ATTENTION: Proposed Collection; 

Comment Request: ‘‘Members of the 

Banks, (No. 2023–N–11).’’ 

We will post all public comments we 

receive without change, including any 

personal information you provide, such 

as your name and address, email 

address, and telephone number, on the 

FHFA website at http://www.fhfa.gov. 

Copies of all comments received will 

be available for examination by the 

public through the electronic comment 

docket for this PRA Notice also located 

on the FHFA website. 

FOR FURTHER INFORMATION CONTACT: 

Lindsay Spadoni, Assistant General 

Counsel, Lindsay.Spadoni@fhfa.gov, 

(202) 649–3634 or Angela Supervielle, 

Senior Counsel, Angela.Supervielle@

fhfa.gov, (202) 649–3973 (these are not 

toll-free numbers). For TTY/TRS users 

with hearing and speech disabilities, 

dial 711 and ask to be connected to any 

of the contact numbers above. 

SUPPLEMENTARY INFORMATION: 

A. Paperwork Reduction Act 

Under the PRA (44 U.S.C. 3501– 

3520), Federal agencies must obtain 

approval from OMB for each collection 

of information they conduct or sponsor. 

‘‘Collection of information’’ is defined 

in 44 U.S.C. 3502(3) and 5 CFR 

1320.3(c) to include agency requests or 

requirements that ten or more persons 

submit information to a third party. 

FHFA’s collection of information set 

forth in this document is titled 

‘‘Members of the Banks’’ (assigned 

control number 2590–0003 by OMB). To 

comply with the PRA requirement, 

FHFA is publishing notice of a proposed 

three-year extension of this collection of 

information and renewal of the control 

number, which is due to expire on 

September 30, 2023. 

A. Background 

The Federal Home Loan Bank System 

consists of eleven regional Federal 

Home Loan Banks (Banks) and the 

Office of Finance (a joint office of the 

Banks that issues and services the 

Banks’ debt securities). The Banks are 

wholesale financial institutions, 

organized under the authority of the 

Federal Home Loan Bank Act (Bank Act) 

to serve the public interest by enhancing 

the availability of residential housing 

finance and community lending credit 

through their member institutions and, 

to a limited extent, through certain 

eligible nonmembers. Each Bank is 

structured as a regional cooperative that 

is owned and controlled by member 

institutions located within its district, 

which are also its primary customers. 

The Banks carry out their public policy 

functions primarily by providing low 

cost loans, known as advances, to their 

members. With limited exceptions, an 

institution may obtain advances and 

access other products and services 

provided by a Bank only if it is a 

member of that Bank. 

The Bank Act limits membership in 

any Bank to specific types of financial 

institutions located within the Bank’s 

district that meet specific eligibility 

requirements. Section 4 of the Bank Act 

specifies the types of institutions that 

may be eligible for membership and 

establishes eligibility requirements that 

each type of applicant must meet in 

order to become a Bank member.1 That 

provision also specifies that (with 

limited exceptions) an eligible 

institution may become a member only 

of the Bank of the district in which the 

institution’s ‘‘principal place of 

business’’ is located.2 With respect to 

the termination of Bank membership, 

section 6(d) of the Bank Act sets forth 

requirements pursuant to which an 

institution may voluntarily withdraw 

from membership or a Bank may 

terminate an institution’s membership 

for cause.3

B. Need For and Use of the Information 

Collection 

FHFA’s regulation entitled ‘‘Members 

of the Banks,’’ located at 12 CFR part 

1263, implements the statutory 

provisions on Bank membership and 

otherwise establishes substantive and 

procedural requirements relating to the 

initiation and termination of 

membership. Many of the provisions in 

the membership regulation require that 

an institution submit information to a 

Bank or to FHFA, in most cases to 

demonstrate compliance with statutory 

or regulatory requirements or to request 

action by the Bank or Agency. 

There are four types of information 

collections that may occur under part 

1263. First, the regulation provides that 

(with limited exceptions) no institution 

may become a member of a Bank unless 

it has submitted to that Bank an 

application that documents the 

applicant’s compliance with the 


ddrumheller on DSK120RN23PROD with NOTICES1
65682 Federal Register / Vol. 88, No. 184 / Monday, September 25, 2023 / Notices 

4See 12 CFR 1263.2(a), 1263.6–1263.9, 1263.11– 

1263.18. 

5See 12 CFR 1263.5. 

6See 12 CFR 1263.26. 

7See 12 CFR 1263.4(b), 1263.18(d), (e). 8See 88 FR 38051 (June 12, 2023). 

statutory and regulatory membership 

eligibility requirements and that 

otherwise includes all required 

information and materials.4 Second, the 

regulation provides applicants that have 

been denied membership by a Bank the 

option of appealing the decision to 

FHFA. To file such an appeal, an 

applicant must submit to FHFA a copy 

of the Bank’s decision resolution 

denying its membership application and 

a statement of the basis for the appeal 

containing sufficient facts, information, 

and analysis to support the applicant’s 

position.5 Third, the regulation provides 

that, in order to initiate a voluntary 

withdrawal from Bank membership, a 

member must submit to its Bank a 

written notice of intent to withdraw.6

Fourth, under certain circumstances, the 

regulation permits a member of one 

Bank to transfer its membership to a 

second Bank ‘‘automatically’’ without 

either initiating a voluntary withdrawal 

from the first Bank or submitting a 

membership application to the second 

Bank. Despite the regulatory reference to 

such a transfer as being ‘‘automatic,’’ a 

member meeting the criteria for an 

automatic transfer must initiate the 

transfer process by filing a request with 

its current Bank, which will then 

arrange the details of the transfer with 

the second Bank.7

The Banks use most of the 

information collected under part 1263 to 

determine whether an applicant satisfies 

the statutory and regulatory 

requirements for Bank membership and 

should be approved as a Bank member. 

The Banks may use some of the 

information collected under part 1263 

as a means of learning that a member 

wishes to withdraw or to transfer its 

membership to a different Bank so that 

the Bank can begin to process those 

requests. In rare cases, FHFA may use 

the collected information to determine 

whether an institution that has been 

denied membership by a Bank should 

be permitted to become a member of 

that Bank. 

The OMB control number for this 

information collection is 2590–0003, 

which is due to expire on September 30, 

2023. The likely respondents are 

financial institutions that are, or are 

applying to become, Bank members. 

C. Burden Estimate 

FHFA has analyzed the time burden 

imposed on respondents by the four 

collections under this control number 

and estimates that the average annual 

burden imposed on all respondents by 

those collections over the next three 

years will be 2,181 hours. This estimate 

is derived from the following 

calculations: 

1. Membership Applications 

FHFA estimates that the average 

number of applications for Bank 

membership submitted annually will be 

141 and that the average time to prepare 

and submit an application and 

supporting materials will be 15 hours. 

Accordingly, the estimate for the annual 

hour burden associated with 

preparation and submission of 

applications for Bank membership is 

(141 applications × 15 hours per 

application) = 2,115 hours. 

2. Appeals of Membership Denials 

FHFA estimates that the average 

number of applicants that have been 

denied membership by a Bank that will 

appeal such a denial to FHFA will be 1 

and that the average time to prepare and 

submit an application for appeal will be 

50 hours. Accordingly, the estimate for 

the annual hour burden associated with 

the preparation and submission of 

membership appeals is (1 appellant × 50 

hours per application) = 50 hours. 

3. Notices of Intent To Withdraw From 

Membership 

FHFA estimates that the average 

number of Bank members submitting a 

notice of intent to withdraw from 

membership annually will be 4 and that 

the average time to prepare and submit 

a notice will be 1.5 hours. Accordingly, 

the estimate for the annual hour burden 

associated with preparation and 

submission of notices of intent to 

withdraw is (4 withdrawing members × 

1.5 hours per application) = 6 hours. 

4. Requests for Transfer of Membership 

to Another Bank District 

FHFA estimates that the average 

number of Bank members submitting a 

request for transfer to another Bank will 

be 5 and that the average time to prepare 

and submit a request will be 2 hours. 

Accordingly, the estimate for the annual 

hour burden associated with 

preparation and submission of requests 

for automatic transfer is (5 transferring 

members × 2 hours per request) = 10 

hours. 

D. Comment Request 

In accordance with the requirements 

of 5 CFR 1320.8(d), FHFA published an 

initial notice and request for public 

comments regarding this information 

collection in the Federal Register on 

June 12, 2023.8 The 60-day comment 

period closed on August 11, 2023. 

FHFA received no comments. 

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. 

Shawn Bucholtz, 

Chief Data Officer, Federal Housing Finance 

Agency. 

[FR Doc. 2023–20679 Filed 9–22–23; 8:45 am] 

BILLING CODE 8070–01–P 

FEDERAL MARITIME COMMISSION 

Notice of Agreements Filed 

The Commission hereby gives notice 

of filing of the following agreements 

under the Shipping Act of 1984. 

Interested parties may submit 

comments, relevant information, or 

documents regarding the agreements to 

the Secretary by email at Secretary@

fmc.gov, or by mail, Federal Maritime 

Commission, 800 North Capitol Street, 

Washington, DC 20573. Comments will 

be most helpful to the Commission if 

received within 12 days of the date this 

notice appears in the Federal Register, 

and the Commission requests that 

comments be submitted within 7 days 

on agreements that request expedited 

review. Copies of agreements are 

available through the Commission’s 

website (www.fmc.gov) or by contacting 

the Office of Agreements at (202) 523– 

5793 or tradeanalysis@fmc.gov. 

Agreement No.: 201234–006. 

Agreement Name: Agreement by 

Ocean Common Carriers to Participate 

on the Exchange Board. 

Parties: CMA CGM SA; Hapag-Lloyd 

AG; COSCO Shipping Lines Co., Ltd; 

COSCO Shipping Co., Ltd.; HMM 

Company Limited; Maersk A/S; and 

Ocean Network Express Pte. Ltd. (ONE). 

Filing Party: Ashley Craig; Venable 

LLP. 

Synopsis: The Amended would 

authorize the parties to participate in 

the governance of New York Shipping 

Exchange Inc. (‘‘NYSHEX’’) including 

NYSHEX member council meetings, 


ddrumheller on DSK120RN23PROD with NOTICES1