Change in Bank Control Notices; Acquisitions of Shares of a Bank or Bank Holding Company, 74722 [2014-29406]

Download as PDF 74722 Federal Register / Vol. 79, No. 241 / Tuesday, December 16, 2014 / Notices mstockstill on DSK4VPTVN1PROD with NOTICES firm-wide risk measurement and management processes supporting their internal assessments of capital adequacy and that their capital resources are sufficient given their business focus, activities, and resulting risk exposures. The annual Comprehensive Capital Analysis and Review (CCAR) exercise is also complemented by other Federal Reserve supervisory efforts aimed at enhancing the continued viability of large BHCs, including continuous monitoring of BHCs’ planning and management of liquidity and funding resources and regular assessments of credit, market and operational risks, and associated risk management practices. Information gathered in this data collection is also used in the supervision and regulation of these financial institutions. In order to fully evaluate the data submissions, the Federal Reserve may conduct follow up discussions with or request responses to follow up questions from respondents, as needed. The semi-annual FR Y–14A collects large BHCs’ quantitative projections of balance sheet, income, losses, and capital across a range of macroeconomic scenarios and qualitative information on methodologies used to develop internal projections of capital across scenarios.1 The quarterly FR Y–14Q collects granular data on BHCs’ various asset classes and PPNR for the reporting period. The monthly FR Y–14M comprises three loan- and portfoliolevel collections, and one detailed address matching collection to supplement two of the portfolio and loan-level collections. Both the FR Y– 14Q and the FR Y–14M are used to support supervisory stress test models and for continuous monitoring efforts. Current Actions: On October 1, 2014, the Federal Reserve published a final Federal Register notice (79 FR 59264) implementing several changes to the FR–14A/Q/M and extending the public comment period by 30 days regarding the agreement-level/asset category counterparty information. The comment period expired on October 31, 2014. The Federal Reserve received one comment. The comment is summarized and addressed below. Summary of Comment The Federal Reserve received one comment letter addressing the agreement-level/asset category counterparty information. The commenter requested clarification on several items, which will be provided 1 BHCs that must re-submit their capital plan generally also must provide a revised FR Y–14A in connection with their resubmission. VerDate Sep<11>2014 19:38 Dec 15, 2014 Jkt 235001 through updated instructions as appropriate. More substantively, the commenter stated that the information collection as originally proposed on July 15, 2014 (79 FR 41276) could be provided, but noted that the information collected by sub-schedules L.5 and L.6 would require a significant amount of resources. Specifically, the commenter requested that implementation of these sub-schedules be delayed to March 31, 2015. As stated in the October 1, 2014, Federal Register publication, more detailed counterparty data would allow the Federal Reserve to assess the reasonableness of the BHC’s modelbased estimates used as key inputs to the supervisory stress test as well as ensure the comparability of results across BHCs. Therefore, the Federal Reserve will keep sub-schedules L.5 and L.6 as finalized October 1, 2014 for the September 30, 2014 and December 31, 2014 reporting periods, with two minor exceptions noted below. Furthermore, the Federal Reserve will implement FR Y–14Q Schedule L as originally proposed on July 15, 2014 effective March 31, 2015. FR Y–14Q Counterparty Schedule As noted above, effective March 31, 2015, Schedule L (Counterparty) of the FR Y–14Q will be revised to collect information as originally proposed on July 15, 2014. Specifically, the schedule will require that tables L.5.2 and L.6.2 be reported at a legal-entity, nettingagreement level. Furthermore, table L.5.2 will include the asset subcategories as originally proposed for L.5.2. Tables L.5.1 and L.6.1 will remain as finalized on October 1, 2014, and continue to require reporting at a legalentity, netting-agreement level. However, the commenter specifically also noted that the items ‘‘CDS Hedge Stressed CR01’’ and ‘‘CSA Contractual Features’’ of table L.6.1 would be difficult to provide for the September 30, 2014, reporting period. The Federal Reserve appreciates the commenter’s concerns regarding these items and makes these items optional through the December 31, 2014, reporting period, after which they will be mandatory. Board of Governors of the Federal Reserve System, December 10, 2014. Robert deV. Frierson, Secretary of the Board. [FR Doc. 2014–29296 Filed 12–15–14; 8:45 am] BILLING CODE 6210–01–P PO 00000 Frm 00041 Fmt 4703 Sfmt 4703 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 (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 that are considered in acting on the notices are set forth in paragraph 7 of the Act (12 U.S.C. 1817(j)(7)). The notices are available for immediate inspection at the Federal Reserve Bank indicated. The notices also will be available for inspection at the offices of the Board of Governors. Interested persons may express their views in writing to the Reserve Bank indicated for that notice or to the offices of the Board of Governors. Comments must be received not later than December 31, 2014. A. Federal Reserve Bank of Atlanta (Chapelle Davis, Assistant Vice President) 1000 Peachtree Street NE., Atlanta, Georgia 30309: 1. Tommy Charles Fitzgerald, Byrdstown, Tennessee; to acquire an additional voting shares of Upper Cumberland Bancshares, Inc., and thereby indirectly acquire additional voting shares of People’s Bank and Trust Company of Pickett County, both in Byrdstown, Tennessee. Board of Governors of the Federal Reserve System, December 11, 2014. Michael J. Lewandowski, Associate Secretary of the Board. [FR Doc. 2014–29406 Filed 12–15–14; 8:45 am] BILLING CODE 6210–01–P FEDERAL TRADE COMMISSION Agency Information Collection Activities; Proposed Collection; Comment Request; Extension Federal Trade Commission (‘‘FTC’’ or ‘‘Commission’’). ACTION: Notice. AGENCY: The FTC intends to ask the Office of Management and Budget (‘‘OMB’’) to extend for an additional three years the current Paperwork Reduction Act (‘‘PRA’’) clearance for the FTC’s enforcement of the information collection requirements in its Fair Packaging and Labeling Act regulations (‘‘FPLA Rules’’). That clearance expires on May 31, 2015. DATES: Comments must be filed by February 17, 2015. SUMMARY: E:\FR\FM\16DEN1.SGM 16DEN1

Agencies

[Federal Register Volume 79, Number 241 (Tuesday, December 16, 2014)]
[Notices]
[Page 74722]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2014-29406]


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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 (12 U.S.C. 1817(j)) and Sec.  225.41 of the Board's 
Regulation Y (12 CFR 225.41) to acquire shares of a bank or bank 
holding company. The factors that are considered in acting on the 
notices are set forth in paragraph 7 of the Act (12 U.S.C. 1817(j)(7)).
    The notices are available for immediate inspection at the Federal 
Reserve Bank indicated. The notices also will be available for 
inspection at the offices of the Board of Governors. Interested persons 
may express their views in writing to the Reserve Bank indicated for 
that notice or to the offices of the Board of Governors. Comments must 
be received not later than December 31, 2014.
    A. Federal Reserve Bank of Atlanta (Chapelle Davis, Assistant Vice 
President) 1000 Peachtree Street NE., Atlanta, Georgia 30309:
    1. Tommy Charles Fitzgerald, Byrdstown, Tennessee; to acquire an 
additional voting shares of Upper Cumberland Bancshares, Inc., and 
thereby indirectly acquire additional voting shares of People's Bank 
and Trust Company of Pickett County, both in Byrdstown, Tennessee.

    Board of Governors of the Federal Reserve System, December 11, 
2014.
Michael J. Lewandowski,
Associate Secretary of the Board.
[FR Doc. 2014-29406 Filed 12-15-14; 8:45 am]
BILLING CODE 6210-01-P