Federal Register / Vol. 87, No. 6 / Monday, January 10, 2022 / Notices 1147 

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)(B); 12 CFR 1263.1 

(defining the term ‘‘CFI asset cap’’). 4See 86 FR 6650 (Jan. 22, 2021). 

unbundling obligations in a more 

targeted manner where requesting 

carriers have undertaken their own 

facilities-based investments and will be 

using UNEs (unbundled network 

elements) in conjunction with selfprovisioned facilities. The Commission 

also eliminated the subdelegation of 

authority to state commissions adopted 

in the previous order. Prior to the 

issuance of the Order, the Commission 

sought comment on issues relating to 

combinations of UNEs, called 

‘‘enhanced extended links’’ (EELs), in 

order to effectively tailor access to EELs 

to those carriers seeking to provide 

significant local usage to end users. In 

the Order, the Commission adopted 

three specific service eligibility criteria 

for access to EELs in accordance with 

Commission rules. 

Federal Communications Commission. 

Katura Jackson, 

Federal Register Liaison, Office of the 

Secretary. 

[FR Doc. 2022–00141 Filed 1–7–22; 8:45 am] 

BILLING CODE 6712–01–P 

FEDERAL ELECTION COMMISSION 

Sunshine Act Meeting 

TIME AND DATE: 

Thursday, January 13, 2022 at 10:00 

a.m. 

PLACE: 

Virtual meeting. Note: because of the 

COVID–19 pandemic, we will conduct 

the open meeting virtually. If you would 

like to access the meeting, see the 

instructions below. 

STATUS: 

This meeting will be open to the 

public. To access the virtual meeting, go 

to the commission’s website 

www.fec.gov and click on the banner to 

be taken to the meeting page. 

MATTERS TO BE CONSIDERED: 

Welcoming Remarks 

Motion to Instruct Staff to Prepare an 

Amended Form 1 Acknowledging 

Independent Expenditure-Only and 

Hybrid Committees 

Draft Advisory Opinion 2021–13: 

Matthew P. Hoh 

Management and Administrative 

Matters 

CONTACT PERSON FOR MORE INFORMATION: 

Judith Ingram, Press Officer, Telephone: 

(202) 694–1220. 

Authority: Government in the 

Sunshine Act, 5 U.S.C. 552b. 

Laura E. Sinram, 

Acting Secretary and Clerk of the 

Commission. 

[FR Doc. 2022–00350 Filed 1–6–22; 4:15 pm] 

BILLING CODE 6715–01–P 

FEDERAL HOUSING FINANCE 

AGENCY 

[No. 2022–N–1] 

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 is used in 

determining whether a Federal Home 

Loan Bank (Bank) member qualifies as 

a ‘‘community financial institution’’ 

(CFI) to $1,323,000,000, 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, 2022. 

FOR FURTHER INFORMATION CONTACT: 

Janna Bruce, Division of Federal Home 

Loan Bank Regulation, (202) 649–3202, 

Janna.Bruce@fhfa.gov; or Lindsay 

Spadoni, Senior Counsel, (202) 649– 

3634, Lindsay.Spadoni@fhfa.gov, (not 

toll-free numbers), Federal Housing 

Finance Agency, Constitution Center, 

400 Seventh Street SW, Washington, DC 

20219. 

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 CFI certain 

advantages over non-CFI insured 

depository institutions in qualifying for 

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 the statutory 

cap.2 The Bank Act was amended in 

2008 to set the statutory cap at $1 

billion and to require FHFA to adjust 

the cap annually to reflect the 

percentage increase in the CPI–U, as 

published by the DOL.3 For 2021, FHFA 

set the CFI asset cap at $1,239,000,000, 

which reflected a 1.2 percent increase 

over 2020, based upon the increase in 

the CPI–U between 2019 and 2020.4

II. The CFI Asset Cap for 2022 

As of January 1, 2022, FHFA 

increased the CFI asset cap to 

$1,323,000,000, which reflects a 6.8 

percent increase in the unadjusted CPI– 

U from November 2020 to November 

2021. 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. The new CFI asset cap was 

obtained by applying the percentage 

increase in the CPI–U to the unrounded 

amount for the preceding year and 

rounding to the nearest million, as has 

been FHFA’s practice for all previous 

adjustments. 

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. 

Louis M. Scalza, 

Acting Deputy Director, Division of Federal 

Home Loan Bank Regulation, Federal Housing 

Finance Agency. 

[FR Doc. 2022–00197 Filed 1–7–22; 8:45 am] 

BILLING CODE 8070–01–P 

FEDERAL RESERVE SYSTEM 

Change in Bank Control Notices; 

Acquisitions of Shares of a Bank or 

Bank Holding Company 

The notificants listed below have 

applied under the Change in Bank 

Control Act (Act) (12 U.S.C. 1817(j)) and 

§ 225.41 of the Board’s Regulation Y (12 

CFR 225.41) to acquire shares of a bank 

or bank holding company. The factors 


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