14366 Federal Register / Vol. 77, No. 47 / Friday, March 9, 2012 / Notices 

1See 12 U.S.C. 1424(a), 1430(a). 

2See 12 U.S.C. 1422(10)(A); 12 CFR 1263.1. 

3See 12 U.S.C. 1422(10); 12 CFR 1263.1 (defining 

the term CFI asset cap). 

• Commercial overnight mail (other 

than U.S. Postal Service Express Mail 

and Priority Mail) must be sent to 9300 

East Hampton Drive, Capitol Heights, 

MD 20743. 

• U.S. Postal Service first-class, 

Express, and Priority mail must be 

addressed to 445 12th Street SW., 

Washington DC 20554. 

13. Additional copies. One copy of 

each filing must be sent to each of the 

following: 

• The Commission’s duplicating 

contractor, Best Copy and Printing, Inc., 

445 12th Street SW., Room CY–B402, 

Washington, DC 20554, 

www.bcpiweb.com; phone: (202) 488– 

5300 fax: (202) 488–5563; 

• Christianna Lewis Barnhart, 

Telecommunications Access Policy 

Division, Wireline Competition Bureau, 

445 12th Street SW., Room 5–B552, 

Washington, DC 20554; email: 

Christianna.Barnhart@fcc.gov and 

• Charles Tyler, Telecommunications 

Access Policy Division, Wireline 

Competition Bureau, 445 12th Street 

SW., Room 5–B521, Washington, DC 

20554; email: Charles.Tyler@fcc.gov. 

14. People with Disabilities: To 

request materials in accessible formats 

for people with disabilities (Braille, 

large print, electronic files, audio 

format), send an email to fcc504@fcc.gov 

or call the Consumer & Governmental 

Affairs Bureau at (202) 418–0530 

(voice), (202) 418–0432 

15. Filings and comments are also 

available for public inspection and 

copying during regular business hours 

at the FCC Reference Information 

Center, Portals II, 445 12th Street SW., 

Room CY–A257, Washington, DC 20554. 

They may also be purchased from the 

Commission’s duplicating contractor, 

Best Copy and Printing, Inc., Portals II, 

445 12th Street SW., Room CY–B402, 

Washington, DC 20554, telephone: (202) 

488–5300, fax: (202) 488–5563, or via 

email www.bcpiweb.com. 

16. This matter shall be treated as a 

‘‘permit-but-disclose’’ proceeding in 

accordance with the Commission’s ex 

parte rules. Persons making oral ex 

parte presentations are reminded that 

memoranda summarizing the 

presentations must contain summaries 

of the substance of the presentation and 

not merely a listing of the subjects 

discussed. More than a one or two 

sentence description of the views and 

arguments presented generally is 

required. Other rules pertaining to oral 

and written ex parte presentations in 

permit-but-disclose proceedings are set 

forth in § 1.1206(b) of the Commission’s 

rules. 

Federal Communications Commission. 

Trent Harkrader, 

Division Chief, Wireline Competition Bureau. 

[FR Doc. 2012–5687 Filed 3–8–12; 8:45 am] 

BILLING CODE 6712–01–P 

FEDERAL HOUSING FINANCE 

AGENCY 

[No. 2012–N–02] 

Notice of Annual Adjustment of the 

Cap on Average Total Assets That 

Defines Community Financial 

Institutions 

AGENCY: Federal Housing Finance 

Agency. 

ACTION: Notice. 

SUMMARY: The Federal Housing Finance 

Agency (FHFA) has adjusted the cap on 

average total assets that defines a 

‘‘Community Financial Institution’’ 

based on the annual percentage increase 

in the Consumer Price Index for all 

urban consumers (CPI–U) as published 

by the Department of Labor (DOL). 

These changes took effect on January 1, 

2012. 

FOR FURTHER INFORMATION CONTACT: 

Patricia L. Sweeney, Division of Federal 

Home Loan Bank Regulation, 202–649– 

3311, Pat.Sweeney@fhfa.gov, or Eric M. 

Raudenbush, Assistant General Counsel, 

202–649–6421, 

Eric.Raudenbush@fhfa.gov, Federal 

Housing Finance Agency, 400 Seventh 

Street SW., Washington, DC 20024. 

SUPPLEMENTARY INFORMATION: 

I. Statutory and Regulatory Background 

The Federal Home Loan Bank Act 

(Bank Act) confers upon insured 

depository institutions that meet the 

statutory definition of a ‘‘Community 

Financial Institution’’ (CFI) certain 

advantages over non-CFI insured 

depository institutions in qualifying for 

Federal Home Loan Bank (Bank) 

membership, and in the purposes for 

which they may receive long-term 

advances and the collateral they may 

pledge to secure advances.1 Section 

2(10)(A) of the Bank Act and § 1263.1 of 

FHFA’s regulations define a CFI as any 

Bank member the deposits of which are 

insured by the Federal Deposit 

Insurance Corporation and that has 

average total assets below a statutory 

cap.2 The Bank Act was amended in 

2008 to set the statutory cap at $1 

billion and to require the Director of 

FHFA to adjust the cap annually to 

reflect the percentage increase in the 

CPI–U, as published by the DOL, for the 

prior year.3 For 2011, FHFA set the CFI 

asset cap at $1,041,000,000, which 

reflected a 1.1 percent increase over 

2010, based upon the increase in the 

CPI–U between 2009 and 2010. Due to 

a transcription error, the agency’s 

Federal Register notice announcing the 

CFI asset cap adjustment for 2011 

mistakenly stated that the cap had been 

set at $1,040,000,000. See 76 FR 3142 

(Jan. 19, 2011). 

II. The CFI Asset Cap for 2012 

As of January 1, 2012, FHFA has 

increased the CFI asset cap from 

$1,041,000,000 (the correct number for 

2011) to $1,076,000,000 which reflects a 

3.4 percent increase in the unadjusted 

CPI–U from November 2010 to 

November 2011. The new amount was 

obtained by rounding to the nearest 

million, as has been the practice for all 

prior adjustments. Consistent with the 

practice of other federal agencies, FHFA 

bases the annual adjustment to the CFI 

asset cap on the percentage increase in 

the CPI–U from November of the year 

prior to the preceding calendar year to 

November of the preceding calendar 

year, because the November figures 

represent the most recent available data 

as of January 1st of the current calendar 

year. 

In calculating the CFI asset cap, FHFA 

uses CPI–U data that have not been 

seasonally adjusted (i.e., the data have 

not been adjusted to remove the 

estimated effect of price changes that 

normally occur at the same time and in 

about the same magnitude every year). 

The DOL encourages use of unadjusted 

CPI–U data in applying ‘‘escalation’’ 

provisions such as that governing the 

CFI asset cap, because the factors that 

are used to seasonally adjust the data 

are amended annually, and seasonally 

adjusted data that are published earlier 

are subject to revision for up to five 

years following their original release. 

Unadjusted data are not routinely 

subject to revision, and previously 

published unadjusted data are only 

corrected when significant calculation 

errors are discovered. 

Dated: March 5, 2012. 

Edward J. DeMarco, 

Acting Director, Federal Housing Finance 

Agency. 

[FR Doc. 2012–5805 Filed 3–8–12; 8:45 am] 

BILLING CODE 8070–01–P 


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