Agency Information Collection Activities: Announcement of Board Approval Under Delegated Authority and Submission to OMB, 42357-42359 [2016-15325]
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Federal Register / Vol. 81, No. 125 / Wednesday, June 29, 2016 / Notices
reach agreement upon matters relating
to cargo throughput, safety, intermodal
equipment supply and efficiencies,
congestion relief, port and terminal
infrastructure, financing of
improvements, and clean air or other
environmental initiatives affecting
operations in and around the Port of
New York and New Jersey.
Agreement No.: 012421.
Title: ‘‘K’’ Line/Hyundai Glovis Co.,
Ltd. U.S./Mexioco Space Charter
Agreement.
Parties: Hyundai Glovis Co., Ltd. and
Kawasaki Kisen Kaisha, Ltd..
Filing Party: Wayne Rohde, Esq.;
Cozen O’Connor; 1200 Nineteenth Street
NW., Washington, DC 20036.
Synopsis: The Agreement authorizes
the Parties to charter space to/from one
another on an ad hoc basis for the
carriage of ro-ro cargoes in the trades
between the U.S. East and West Coasts
on the one hand and ports on the East
and West Coasts of Mexico on the other
hand.
By Order of the Federal Maritime
Commission.
Dated: June 24, 2016.
Karen V. Gregory,
Secretary.
[FR Doc. 2016–15418 Filed 6–28–16; 8:45 am]
BILLING CODE 6731–AA–P
FEDERAL RESERVE SYSTEM
Agency Information Collection
Activities: Announcement of Board
Approval Under Delegated Authority
and Submission to OMB
Board of Governors of the
Federal Reserve System.
SUMMARY: Notice is hereby given of the
final approval of a proposed information
collection by the Board of Governors of
the Federal Reserve System (Board)
under OMB delegated authority. Boardapproved collections of information are
incorporated into the official OMB
inventory of currently approved
collections of information. Copies of the
Paperwork Reduction Act Submission,
supporting statements and approved
collection of information instrument(s)
are placed into OMB’s public docket
files. The Board may not conduct or
sponsor, and the respondent is not
required to respond to, an information
collection that has been extended,
revised, or implemented on or after
October 1, 1995, unless it displays a
currently valid OMB control number.
FOR FURTHER INFORMATION CONTACT:
Board Clearance Officer—Nuha
Elmaghrabi—Office of the Chief Data
Officer, Board of Governors of the
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AGENCY:
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Jkt 238001
Federal Reserve System, Washington,
DC 20551; (202) 452–3829.
Telecommunications Device for the Deaf
(TDD) users may contact (202) 263–
4869, Board of Governors of the Federal
Reserve System, Washington, DC 20551.
OMB Desk Officer—Shagufta
Ahmed—Office of Information and
Regulatory Affairs, Office of
Management and Budget, New
Executive Office Building, Room 10235
725 17th Street NW., Washington, DC
20503.
Final approval under OMB delegated
authority of the extension for three
years, without revision, of the following
reports:
1. Report title: Request for Extension
of Time to Dispose of Assets Acquired
in Satisfaction of Debts Previously
Contracted.
Agency form number: FR 4006.
OMB control number: 7100–0129.
Frequency: Annual.
Reporters: Bank Holding Companies
(BHCs).
Estimated annual reporting hours:
325.
Estimated average hours per response:
5 hours.
Number of respondents: 65.
General description of report: The FR
4006 is authorized pursuant to sections
4(a) and 4(c)(2) of the Bank Holding
Company Act (BHC Act), (12 U.S.C.
1843(a), (c)(2)), and the Board’s
Regulation Y, (12 CFR 225.22(d) and
225.140). Section 4(a) of the BHC Act
generally prohibits a BHC from
acquiring voting shares of a nonbank
company (12 U.S.C. 1843(a)). However,
section 4(c)(2) of the BHC Act provides
an exception to this general rule and
permits BHCs to hold shares acquired in
satisfaction of a debt previously
contracted in good faith for two years
from the date on which they were
acquired. Id. At section 1843(c)(2). In
addition, the Board is authorized to
extend the two year period under
certain circumstances upon application
from a BHC. Id. The Board’s Regulation
Y extends this prohibition and
exception to assets acquired in
satisfaction of a debt previously
contracted (12 CFR 225.140) and
provides procedures for such
exceptions. (12 CFR 225.22(d)(1)). The
FR 4006 is required to obtain the benefit
of being permitted to retain ownership
of voting securities or assets acquired
through foreclosure in the ordinary
course of collection a debt previously
contracted for more than two years.
Individual respondent information is
generally not given confidential
treatment. However, a respondent may
request that the information be kept
confidential on a case-by-case basis. If a
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Fmt 4703
Sfmt 4703
42357
respondent requests confidential
treatment, the Board will determine
whether the information is entitled to
confidential treatment on an ad hoc
basis in connection with such request.
Abstract: A BHC that acquired voting
securities or assets through foreclosure
in the ordinary course of collecting a
debt previously contracted may not
retain ownership of those shares or
assets for more than two years without
prior Board approval. There is no formal
reporting form and each request for
extension must be filed at the
appropriate Reserve Bank of the BHC.
The Board uses the information
provided in the request to fulfill its
statutory obligation to supervise BHCs.
Current Actions: On April 7, 2016, the
Board published a notice in the Federal
Register (81 FR 20384) requesting
public comment for 60 days on the
proposal to extend for three years,
without revision, the FR 4006. The
comment period for this notice expired
on June 6, 2016. The Board did not
receive any comments, and the
information collection will be extended
as proposed.
2. Report title: Stock Redemption
Notification.
Agency form number: FR 4008.
OMB control number: 7100–0131.
Frequency: On occasion.
Reporters: BHCs.
Estimated annual reporting hours:
155 hours.
Estimated average hours per response:
15.5 hours.
Number of respondents: 10.
General description of report: The FR
4008 is authorized pursuant to sections
5(b) and (c) of the BHC Act (12 U.S.C.
1844(b) and (c)) and the Board’s
Regulation Y (CFR 225.4). Sections 5(b)
and (c) of the BHC Act generally
authorize the Board to issue regulations
and orders that are necessary to
administer and carry out the purposes of
the BHC Act and prevent evasions
thereof and to require BHCs to submit
reports to the Board to keep the Board
informed about their financial
condition, systems for monitoring and
controlling financial and operating
risks, transactions with depository
institution subsidiaries, and compliance
with the BHC Act, any other Federal law
that the Board has specific jurisdiction
to enforce, and (other than in the case
of an insured depository institution or
functionally regulated subsidiary) any
other applicable provision of Federal
law. 12 U.S.C. 1844(b) and (c). The
Board’s Regulation Y requires BHCs, in
certain circumstances, to file with the
appropriate Federal Reserve Bank prior
written notice before purchasing or
redeeming their equity securities. (12
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29JNN1
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42358
Federal Register / Vol. 81, No. 125 / Wednesday, June 29, 2016 / Notices
CFR 225.4(b)). The FR 4008 is required
for some BHCs to obtain the benefit of
being able to purchase or redeem their
equity securities. The individual
respondent information in a stock
redemption notice is generally not
considered confidential. However, a
respondent may request that the
information be kept confidential on a
case-by-case basis. If a respondent
requests confidentiality, the Board will
determine whether the information is
entitled to confidential treatment on an
ad hoc basis in connection with such
request.
Abstract: The Bank Holding Company
Act and the Board’s Regulation Y
generally require a BHC to seek prior
Board approval before purchasing or
redeeming its equity securities. Given
that a BHC is exempt from this
requirement if it meets certain financial,
managerial, and supervisory standards,
only a small portion of proposed stock
redemptions actually require the prior
approval of the Board. There is no
formal reporting form. The Board uses
the information provided in the
redemption notice to fulfill its statutory
obligation to supervise BHCs.
Current Actions: On April 7, 2016, the
Board published a notice in the Federal
Register (81 FR 20384) requesting
public comment for 60 days on the
proposal to extend for three years,
without revision, the FR 4008. The
comment period for this notice expired
on June 6, 2016. The Board did not
receive any comments, and the
information collection will be extended
as proposed.
3. Report title: Notice Claiming Status
as an Exempt Transfer Agent.
Agency form number: FR 4013.
OMB control number: 7100–0137.
Frequency: On occasion.
Reporters: Banks, BHCs, savings and
loan holding companies (SLHCs), and
certain trust companies.
Annual reporting hours: 20 hours.
Estimated average hours per response:
2 hours.
Number of respondents: 10.
General description of report: The FR
4013 is mandatory and authorized
pursuant to the Securities Exchange Act
of 1934 (the SEA) as amended in 1975,
15 U.S.C. 78q–1, 17 CFR 240.17Ad–4,
and 12 CFR 208.31 and 225.4(d).
Section 17A(a)(2)(A)(i) of the SEA, 15
U.S.C. 78q–1(a)(2)(A)(i), directs the
Securities and Exchange Commission
(SEC) to use its authority under the SEA
‘‘to facilitate the establishment of a
national system for the prompt and
accurate clearance and settlement of
transactions in securities.’’ Pursuant to
this Congressional directive, the SEC
promulgated regulations governing the
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17:18 Jun 28, 2016
Jkt 238001
performance of transfer agent functions
by registered transfer agents. See 17 CFR
240.17Ad–2, 240.17Ad–3, and
240.17Ad–6(a)(1) through (7) and (11).
SEC Rule 17Ad–4 exempts certain lowvolume transfer agents from certain of
these regulations provided that the
transfer agent files a notice with its
appropriate regulatory agency certifying
that it qualifies for the exemption. 17
CFR 240.17Ad–4. Pursuant to the SEA,
the SEC’s transfer agent rules as well as
the low-volume transfer agent
exemption are applicable to all
registered transfer agents, including
those regulated by the Board. See
Section 17A(d)(1) of the SEA, 15 U.S.C.
78q–1(d)(1). The Board’s regulations
further provide that Board-regulated
transfer agents are subject to the SEC’s
transfer agent rules, including the lowvolume transfer agent exemption. See 12
CFR 208.31(b) (applicable to state
member bank transfer agents); 12 CFR
225.4(d) (providing that the Board’s
regulations governing state member
bank transfer agents are equally
applicable to BHCs and certain nonbank
subsidiaries that act as transfer agents);
12 CFR 238.4(b) (requiring reports from
SLHCs). Because the information
regarding a transfer agent’s volume of
transactions is public information
through the filing and publication of the
agents’ Form TA–2 with the SEC, the
individual respondent data collected by
the FR 4013 is not confidential.
Abstract: Banks, BHCs, SLHCs, and
trust companies subject to the Board’s
supervision that are low-volume transfer
agents voluntarily file the notice on
occasion with the Board. Transfer agents
are institutions that provide securities
transfer, registration, monitoring, and
other specified services on behalf of
securities issuers. The purpose of the
notice, which is effective until the agent
withdraws it, is to claim exemption
from certain rules and regulations of the
SEC. The Board uses the notices for
supervisory purposes because the SEC
has assigned to the Board responsibility
for collecting the notices and verifying
their accuracy through examinations of
the respondents. There is no formal
reporting form and each notice is filed
as a letter.
Current Actions: On April 7, 2016, the
Board published a notice in the Federal
Register (81 FR 20384) requesting
public comment for 60 days on the
proposal to extend for three years,
without revision, the FR 4013. The
comment period for this notice expired
on June 6, 2016. The Board did not
receive any comments, and the
information collection will be extended
as proposed.
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Fmt 4703
Sfmt 4703
In addition, the Board now provides
registrants the option of submitting FR
4013 notices via the secure email
address MSD-GSD-Registration@frb.gov,
preferably as a Portable Document
Format (PDF) file.
4. Report title: Investment in Bank
Premises Notification.
Agency form number: FR 4014.
OMB control number: 7100–0139.
Frequency: On occasion.
Reporters: State member banks
(SMBs).
Annual reporting hours: 9 hours
(rounded to the nearest hour).
Estimated average hours per response:
30 minutes.
Number of respondents: 5.
General description of report: Section
24A(a) of the Federal Reserve Act (FRA)
requires that SMBs obtain prior Board
approval before investing in bank
premises that exceed certain statutory
thresholds (12 U.S.C. 371d(a)). The FR
4014 is required to obtain a benefit
because banks wanting to make an
investment in bank premises that
exceed a certain threshold are required
to notify the Board. The information
collected is not considered confidential.
However, an SMB may request that a
report or document not be disclosed to
the public and be held confidential by
the Board. Should an SMB request
confidential treatment of such
information, the question of whether the
information is entitled to confidential
treatment must be determined on an ad
hoc basis in connection with such
request.
Abstract: The FRA requires SMBs to
seek prior Board approval before making
an investment in bank premises that
exceeds certain thresholds. There is no
formal reporting form, and each
required request for prior approval must
be filed as a notification with the
appropriate Reserve Bank of the SMB.
The Board uses the information
provided in the notice to fulfill its
statutory obligation to supervise SMBs.
Current Actions: On April 7, 2016, the
Board published a notice in the Federal
Register (81 FR 20384) requesting
public comment for 60 days on the
proposal to extend for three years,
without revision, the FR 4014. The
comment period for this notice expired
on June 6, 2016. The Board did not
receive any comments, and the
information collection will be extended
as proposed.
5. Report title: Reports Related to
Securities Issued by State Member
Banks as Required by Regulation H.
Agency form number: Reg H–1.
OMB control number: 7100–0091.
Frequency: Annually, Quarterly, and
on occasion.
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Federal Register / Vol. 81, No. 125 / Wednesday, June 29, 2016 / Notices
Reporters: SMBs.
Estimated annual reporting hours:
264.
Estimated average hours per response:
5.17.
Number of respondents: 3.
General description of report: This
information collection is mandatory
pursuant to sections 12(i) and 23(a)(1) of
the Securities Exchange Act of 1934 (15
U.S.C. 781(i) and 78w (a)(1)) and the
Board’s Regulation H (12 CFR 208.36).
The information collected is not given
confidential treatment. However, a state
member bank make request that a report
or document not be disclosed to the
public and be held confidential by the
Board, (12 CFR 208.36(d). All such
requests for confidential treatment will
be determined on a case-by-case basis.
Abstract: The Board’s Regulation H
requires certain SMBs to submit
information relating to their securities to
the Board on the same forms that bank
holding companies and nonbank
entities use to submit similar
information to the SEC. The information
is primarily used for public disclosure
and is available to the public upon
request.
Current Actions: On April 7, 2016, the
Board published a notice in the Federal
Register (81 FR 20384) requesting
public comment for 60 days on the
proposal to extend for three years,
without revision, the Reg H–1. The
comment period for this notice expired
on June 6, 2016. The Board did not
receive any comments, and the
information collection will be extended
as proposed.
Board of Governors of the Federal Reserve
System, June 23, 2016.
Robert deV. Frierson
Secretary of the Board.
[FR Doc. 2016–15325 Filed 6–28–16; 8:45 am]
BILLING CODE 6210–01–P
FEDERAL RESERVE SYSTEM
Agency Information Collection
Activities: Announcement of Board
Approval Under Delegated Authority
and Submission to OMB
Board of Governors of the
Federal Reserve System.
SUMMARY: Notice is hereby given of the
final approval of a proposed information
collection by the Board of Governors of
the Federal Reserve System (Board)
under OMB delegated authority. Boardapproved collections of information are
incorporated into the official OMB
inventory of currently approved
collections of information. Copies of the
Paperwork Reduction Act Submission,
supporting statements and approved
mstockstill on DSK3G9T082PROD with NOTICES
AGENCY:
VerDate Sep<11>2014
17:18 Jun 28, 2016
Jkt 238001
collection of information instrument(s)
are placed into OMB’s public docket
files. The Federal Reserve may not
conduct or sponsor, and the respondent
is not required to respond to, an
information collection that has been
extended, revised, or implemented on or
after October 1, 1995, unless it displays
a currently valid OMB control number.
FOR FURTHER INFORMATION CONTACT:
Federal Reserve Board Clearance
Officer—Nuha Elmaghrabi—Office of
the Chief Data Officer, Board of
Governors of the Federal Reserve
System, Washington, DC 20551 (202)
452–3829. Telecommunications Device
for the Deaf (TDD) users may contact
(202) 263–4869, Board of Governors of
the Federal Reserve System,
Washington, DC 20551.
OMB Desk Officer—Shagufta
Ahmed—Office of Information and
Regulatory Affairs, Office of
Management and Budget, New
Executive Office Building, Room 10235
725 17th Street, NW., Washington, DC
20503.
Final approval under OMB delegated
authority of the extension for three
years, without revision, of the following
reports:
1. Report title: Consumer Satisfaction
Questionnaire, the Federal Reserve
Consumer Help—Consumer Survey, the
Consumer Online Complaint Form, and
the Appraisal Complaint Form.
Agency form number: FR 1379a, FR
1379b, FR 1379c, and FR 1379d.
OMB control number: 7100–0135.
Frequency: Event generated.
Reporters: Consumers, appraisers, and
financial institutions.
Estimated annual burden hours: FR
1379a: 58 hours; FR 1379b: 121 hours;
FR 1379c: 982 hours; FR 1379d: 7 hours.
Estimated average hours per response:
FR 1379a: 5 minutes; FR 1379b: 5
minutes; FR 1379c: 10 minutes; FR
1379d: 30 minutes.
Number of respondents: FR 1379a:
695; FR 1379b: 1,455; FR 1379c: 5,890;
FR 1379d: 14.
General description of report: The
Board’s Legal Division has determined
that the FR 1379a,b,and c are authorized
by law pursuant to section 11(a) of the
Federal Reserve Act (12 U.S.C. 248(a)),
and sections 3(q) and 8 of the Federal
Deposit Insurance Act (FDIC Act) (12
U.S.C. 1813(Q) and 1818). Additionally,
the Board is authorized to collect the
information on the FR 1379d pursuant
to section 1103 of the Financial
Institutions and Reform, Recovery, and
Enforcement Act, which authorizes the
Federal Financial Institutions
Examination Council-Appraisal
Subcommittee to ‘‘perform research, as
PO 00000
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Fmt 4703
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42359
[it] considers appropriate,’’ for the
purpose of carrying out its duties (12
U.S.C. 3335). The obligation to respond
is voluntary.
The FR 1379a is not considered
confidential. The FR 1379b collects the
respondent’s name and the respondent
may provide other personal information
and information regarding his or her
complaint. The FR 1379c collects the
respondent’s third-party representative
if the respondent has such a
representative. The FR 1379d collects
the respondent’s name and the
respondent may provide other personal
information and information regarding
his or her complaint. Thus, some of the
information collected on the FR 1379b,
FR 1379c, and FR 1379d may be
considered confidential under the
Freedom of Information Act (5 U.S.C.
552(b)(4), (b)(6), (b)(7)).
Abstract: The FR 1379a questionnaire
is sent to consumers who have filed
complaints with the Board against state
member banks. The information is used
to assess their satisfaction with the
Board’s handling and written response
to their complaint at the conclusion of
an investigation. The FR 1379b survey
is sent to consumers who contact the
Federal Reserve Consumer Help (FRCH)
to file a complaint or inquiry. The
information is used to determine
whether consumers are satisfied with
the way the FRCH handled their
complaint. Consumers use the FR 1379c
complaint form to electronically submit
a complaint against a financial
institution to the FRCH. The FR 1379d
Appraisal complaint form collects
information about complaints regarding
a regulated institution’s non-compliance
with the appraisal independence
standards and the Uniform Standards of
Professional Appraisal Practice,
including complaints from appraisers,
individuals, financial institutions, and
other entities. The information is
necessary so that the federal agencies 1
may better assist the Federal Financial
Institutions Examination CouncilAppraisal Subcommittee (FFIEC–ASC) 2
1 ‘‘Agencies’’ include the Board of Governors of
the Federal Reserve System, Federal Deposit
Insurance Corporation, Office of the Comptroller of
the Currency, National Credit Union
Administration, and Consumer Financial Protection
Bureau.
2 Title XI of the Financial Institutions Reform,
Recovery, and Enforcement Act (FIRREA) of 1989
amended the FIRIRCA Act of 1978 to create the
ASC ‘‘within’’ the FFIEC on August 9, 1989.
Pursuant to Title XI, the ASC’s mission is to
monitor federal, state, and appraisal industry
initiatives relative to the appraisal process at
federally- regulated financial institutions and
maintain a national registry of appraisers eligible to
perform appraisals for federally related real estate
transactions. As an independent FFIEC
E:\FR\FM\29JNN1.SGM
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]]>Agencies
[Federal Register Volume 81, Number 125 (Wednesday, June 29, 2016)]
[Notices]
[Pages 42357-42359]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-15325]
=======================================================================
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FEDERAL RESERVE SYSTEM
Agency Information Collection Activities: Announcement of Board
Approval Under Delegated Authority and Submission to OMB
AGENCY: Board of Governors of the Federal Reserve System.
SUMMARY: Notice is hereby given of the final approval of a proposed
information collection by the Board of Governors of the Federal Reserve
System (Board) under OMB delegated authority. Board-approved
collections of information are incorporated into the official OMB
inventory of currently approved collections of information. Copies of
the Paperwork Reduction Act Submission, supporting statements and
approved collection of information instrument(s) are placed into OMB's
public docket files. The Board may not conduct or sponsor, and the
respondent is not required to respond to, an information collection
that has been extended, revised, or implemented on or after October 1,
1995, unless it displays a currently valid OMB control number.
FOR FURTHER INFORMATION CONTACT: Board Clearance Officer--Nuha
Elmaghrabi--Office of the Chief Data Officer, Board of Governors of the
Federal Reserve System, Washington, DC 20551; (202) 452-3829.
Telecommunications Device for the Deaf (TDD) users may contact (202)
263-4869, Board of Governors of the Federal Reserve System, Washington,
DC 20551.
OMB Desk Officer--Shagufta Ahmed--Office of Information and
Regulatory Affairs, Office of Management and Budget, New Executive
Office Building, Room 10235 725 17th Street NW., Washington, DC 20503.
Final approval under OMB delegated authority of the extension for
three years, without revision, of the following reports:
1. Report title: Request for Extension of Time to Dispose of Assets
Acquired in Satisfaction of Debts Previously Contracted.
Agency form number: FR 4006.
OMB control number: 7100-0129.
Frequency: Annual.
Reporters: Bank Holding Companies (BHCs).
Estimated annual reporting hours: 325.
Estimated average hours per response: 5 hours.
Number of respondents: 65.
General description of report: The FR 4006 is authorized pursuant
to sections 4(a) and 4(c)(2) of the Bank Holding Company Act (BHC Act),
(12 U.S.C. 1843(a), (c)(2)), and the Board's Regulation Y, (12 CFR
225.22(d) and 225.140). Section 4(a) of the BHC Act generally prohibits
a BHC from acquiring voting shares of a nonbank company (12 U.S.C.
1843(a)). However, section 4(c)(2) of the BHC Act provides an exception
to this general rule and permits BHCs to hold shares acquired in
satisfaction of a debt previously contracted in good faith for two
years from the date on which they were acquired. Id. At section
1843(c)(2). In addition, the Board is authorized to extend the two year
period under certain circumstances upon application from a BHC. Id. The
Board's Regulation Y extends this prohibition and exception to assets
acquired in satisfaction of a debt previously contracted (12 CFR
225.140) and provides procedures for such exceptions. (12 CFR
225.22(d)(1)). The FR 4006 is required to obtain the benefit of being
permitted to retain ownership of voting securities or assets acquired
through foreclosure in the ordinary course of collection a debt
previously contracted for more than two years. Individual respondent
information is generally not given confidential treatment. However, a
respondent may request that the information be kept confidential on a
case-by-case basis. If a respondent requests confidential treatment,
the Board will determine whether the information is entitled to
confidential treatment on an ad hoc basis in connection with such
request.
Abstract: A BHC that acquired voting securities or assets through
foreclosure in the ordinary course of collecting a debt previously
contracted may not retain ownership of those shares or assets for more
than two years without prior Board approval. There is no formal
reporting form and each request for extension must be filed at the
appropriate Reserve Bank of the BHC. The Board uses the information
provided in the request to fulfill its statutory obligation to
supervise BHCs.
Current Actions: On April 7, 2016, the Board published a notice in
the Federal Register (81 FR 20384) requesting public comment for 60
days on the proposal to extend for three years, without revision, the
FR 4006. The comment period for this notice expired on June 6, 2016.
The Board did not receive any comments, and the information collection
will be extended as proposed.
2. Report title: Stock Redemption Notification.
Agency form number: FR 4008.
OMB control number: 7100-0131.
Frequency: On occasion.
Reporters: BHCs.
Estimated annual reporting hours: 155 hours.
Estimated average hours per response: 15.5 hours.
Number of respondents: 10.
General description of report: The FR 4008 is authorized pursuant
to sections 5(b) and (c) of the BHC Act (12 U.S.C. 1844(b) and (c)) and
the Board's Regulation Y (CFR 225.4). Sections 5(b) and (c) of the BHC
Act generally authorize the Board to issue regulations and orders that
are necessary to administer and carry out the purposes of the BHC Act
and prevent evasions thereof and to require BHCs to submit reports to
the Board to keep the Board informed about their financial condition,
systems for monitoring and controlling financial and operating risks,
transactions with depository institution subsidiaries, and compliance
with the BHC Act, any other Federal law that the Board has specific
jurisdiction to enforce, and (other than in the case of an insured
depository institution or functionally regulated subsidiary) any other
applicable provision of Federal law. 12 U.S.C. 1844(b) and (c). The
Board's Regulation Y requires BHCs, in certain circumstances, to file
with the appropriate Federal Reserve Bank prior written notice before
purchasing or redeeming their equity securities. (12
[[Page 42358]]
CFR 225.4(b)). The FR 4008 is required for some BHCs to obtain the
benefit of being able to purchase or redeem their equity securities.
The individual respondent information in a stock redemption notice is
generally not considered confidential. However, a respondent may
request that the information be kept confidential on a case-by-case
basis. If a respondent requests confidentiality, the Board will
determine whether the information is entitled to confidential treatment
on an ad hoc basis in connection with such request.
Abstract: The Bank Holding Company Act and the Board's Regulation Y
generally require a BHC to seek prior Board approval before purchasing
or redeeming its equity securities. Given that a BHC is exempt from
this requirement if it meets certain financial, managerial, and
supervisory standards, only a small portion of proposed stock
redemptions actually require the prior approval of the Board. There is
no formal reporting form. The Board uses the information provided in
the redemption notice to fulfill its statutory obligation to supervise
BHCs.
Current Actions: On April 7, 2016, the Board published a notice in
the Federal Register (81 FR 20384) requesting public comment for 60
days on the proposal to extend for three years, without revision, the
FR 4008. The comment period for this notice expired on June 6, 2016.
The Board did not receive any comments, and the information collection
will be extended as proposed.
3. Report title: Notice Claiming Status as an Exempt Transfer
Agent.
Agency form number: FR 4013.
OMB control number: 7100-0137.
Frequency: On occasion.
Reporters: Banks, BHCs, savings and loan holding companies (SLHCs),
and certain trust companies.
Annual reporting hours: 20 hours.
Estimated average hours per response: 2 hours.
Number of respondents: 10.
General description of report: The FR 4013 is mandatory and
authorized pursuant to the Securities Exchange Act of 1934 (the SEA) as
amended in 1975, 15 U.S.C. 78q-1, 17 CFR 240.17Ad-4, and 12 CFR 208.31
and 225.4(d). Section 17A(a)(2)(A)(i) of the SEA, 15 U.S.C. 78q-
1(a)(2)(A)(i), directs the Securities and Exchange Commission (SEC) to
use its authority under the SEA ``to facilitate the establishment of a
national system for the prompt and accurate clearance and settlement of
transactions in securities.'' Pursuant to this Congressional directive,
the SEC promulgated regulations governing the performance of transfer
agent functions by registered transfer agents. See 17 CFR 240.17Ad-2,
240.17Ad-3, and 240.17Ad-6(a)(1) through (7) and (11). SEC Rule 17Ad-4
exempts certain low-volume transfer agents from certain of these
regulations provided that the transfer agent files a notice with its
appropriate regulatory agency certifying that it qualifies for the
exemption. 17 CFR 240.17Ad-4. Pursuant to the SEA, the SEC's transfer
agent rules as well as the low-volume transfer agent exemption are
applicable to all registered transfer agents, including those regulated
by the Board. See Section 17A(d)(1) of the SEA, 15 U.S.C. 78q-1(d)(1).
The Board's regulations further provide that Board-regulated transfer
agents are subject to the SEC's transfer agent rules, including the
low-volume transfer agent exemption. See 12 CFR 208.31(b) (applicable
to state member bank transfer agents); 12 CFR 225.4(d) (providing that
the Board's regulations governing state member bank transfer agents are
equally applicable to BHCs and certain nonbank subsidiaries that act as
transfer agents); 12 CFR 238.4(b) (requiring reports from SLHCs).
Because the information regarding a transfer agent's volume of
transactions is public information through the filing and publication
of the agents' Form TA-2 with the SEC, the individual respondent data
collected by the FR 4013 is not confidential.
Abstract: Banks, BHCs, SLHCs, and trust companies subject to the
Board's supervision that are low-volume transfer agents voluntarily
file the notice on occasion with the Board. Transfer agents are
institutions that provide securities transfer, registration,
monitoring, and other specified services on behalf of securities
issuers. The purpose of the notice, which is effective until the agent
withdraws it, is to claim exemption from certain rules and regulations
of the SEC. The Board uses the notices for supervisory purposes because
the SEC has assigned to the Board responsibility for collecting the
notices and verifying their accuracy through examinations of the
respondents. There is no formal reporting form and each notice is filed
as a letter.
Current Actions: On April 7, 2016, the Board published a notice in
the Federal Register (81 FR 20384) requesting public comment for 60
days on the proposal to extend for three years, without revision, the
FR 4013. The comment period for this notice expired on June 6, 2016.
The Board did not receive any comments, and the information collection
will be extended as proposed.
In addition, the Board now provides registrants the option of
submitting FR 4013 notices via the secure email address MSD-GSD-Registration@frb.gov, preferably as a Portable Document Format (PDF)
file.
4. Report title: Investment in Bank Premises Notification.
Agency form number: FR 4014.
OMB control number: 7100-0139.
Frequency: On occasion.
Reporters: State member banks (SMBs).
Annual reporting hours: 9 hours (rounded to the nearest hour).
Estimated average hours per response: 30 minutes.
Number of respondents: 5.
General description of report: Section 24A(a) of the Federal
Reserve Act (FRA) requires that SMBs obtain prior Board approval before
investing in bank premises that exceed certain statutory thresholds (12
U.S.C. 371d(a)). The FR 4014 is required to obtain a benefit because
banks wanting to make an investment in bank premises that exceed a
certain threshold are required to notify the Board. The information
collected is not considered confidential. However, an SMB may request
that a report or document not be disclosed to the public and be held
confidential by the Board. Should an SMB request confidential treatment
of such information, the question of whether the information is
entitled to confidential treatment must be determined on an ad hoc
basis in connection with such request.
Abstract: The FRA requires SMBs to seek prior Board approval before
making an investment in bank premises that exceeds certain thresholds.
There is no formal reporting form, and each required request for prior
approval must be filed as a notification with the appropriate Reserve
Bank of the SMB. The Board uses the information provided in the notice
to fulfill its statutory obligation to supervise SMBs.
Current Actions: On April 7, 2016, the Board published a notice in
the Federal Register (81 FR 20384) requesting public comment for 60
days on the proposal to extend for three years, without revision, the
FR 4014. The comment period for this notice expired on June 6, 2016.
The Board did not receive any comments, and the information collection
will be extended as proposed.
5. Report title: Reports Related to Securities Issued by State
Member Banks as Required by Regulation H.
Agency form number: Reg H-1.
OMB control number: 7100-0091.
Frequency: Annually, Quarterly, and on occasion.
[[Page 42359]]
Reporters: SMBs.
Estimated annual reporting hours: 264.
Estimated average hours per response: 5.17.
Number of respondents: 3.
General description of report: This information collection is
mandatory pursuant to sections 12(i) and 23(a)(1) of the Securities
Exchange Act of 1934 (15 U.S.C. 781(i) and 78w (a)(1)) and the Board's
Regulation H (12 CFR 208.36). The information collected is not given
confidential treatment. However, a state member bank make request that
a report or document not be disclosed to the public and be held
confidential by the Board, (12 CFR 208.36(d). All such requests for
confidential treatment will be determined on a case-by-case basis.
Abstract: The Board's Regulation H requires certain SMBs to submit
information relating to their securities to the Board on the same forms
that bank holding companies and nonbank entities use to submit similar
information to the SEC. The information is primarily used for public
disclosure and is available to the public upon request.
Current Actions: On April 7, 2016, the Board published a notice in
the Federal Register (81 FR 20384) requesting public comment for 60
days on the proposal to extend for three years, without revision, the
Reg H-1. The comment period for this notice expired on June 6, 2016.
The Board did not receive any comments, and the information collection
will be extended as proposed.
Board of Governors of the Federal Reserve System, June 23, 2016.
Robert deV. Frierson
Secretary of the Board.
[FR Doc. 2016-15325 Filed 6-28-16; 8:45 am]
BILLING CODE 6210-01-P
