Proposed Agency Information Collection Activities; Comment Request, 71730-71733 [2016-25129]

Download as PDF Lhorne on DSK30JT082PROD with NOTICES 71730 Federal Register / Vol. 81, No. 201 / Tuesday, October 18, 2016 / Notices Whether the proposed collection of information is necessary for the proper performance of the functions of the Commission, including whether the information shall have practical utility; the accuracy of the Commission’s burden estimate; ways to enhance the quality, utility, and clarity of the information collected; ways to minimize the burden of the collection of information on the respondents, including the use of automated collection techniques or other forms of information technology; and ways to further reduce the information collection burden on small business concerns with fewer than 25 employees. The FCC may not conduct or sponsor a collection of information unless it displays a currently valid OMB control number. No person shall be subject to any penalty for failing to comply with a collection of information subject to the PRA that does not display a valid OMB control number. DATES: Written PRA comments should be submitted on or before December 19, 2016. If you anticipate that you will be submitting comments, but find it difficult to do so within the period of time allowed by this notice, you should advise the contact listed below as soon as possible. ADDRESSES: Direct all PRA comments to Cathy Williams, FCC, via email PRA@ fcc.gov and to Cathy.Williams@fcc.gov. FOR FURTHER INFORMATION CONTACT: For additional information about the information collection, contact Cathy Williams at (202) 418–2918. SUPPLEMENTARY INFORMATION: OMB Control Number: 3060–1094. Title: Licensing, Operation, and Transition of the 2500–2690 MHz Band. Form Number: N/A. Type of Review: Revision of a currently approved collection. Respondents: Business or other forprofit entities, not-for-profit institutions, and state, local, or tribal Government. Number of Respondents: 10 respondents, 250 responses. Estimated Time per Response: 0.50 hours. Frequency of Response: Third-party disclosure requirement. Obligation to Respond: Required to obtain or retain benefits. The statutory authority for the collection is contained in 47 U.S.C. 151, 154(i), 301, 303(f), 303(g), 303(r), 307, 308, 316. Total Annual Burden: 125 hours. Total Annual Cost: No cost. Privacy Impact Assessment: No impact(s). Nature and Extent of Confidentiality: There is no need for confidentiality with this information collection. VerDate Sep<11>2014 13:19 Oct 17, 2016 Jkt 241001 Needs and Uses: The information collection requirements for this collection are contained under 47 CFR 27.1221(f) which states a Broadband Radio Service/Educational Broadband Service (BRS/EBS) licensee shall provide the geographic coordinates, the height above ground level of the center of radiation for each transmit and receive antenna, and the date transmissions commenced for each of the base stations in its GSA within 30 days of receipt of a request from a cochannel BRS/EBS licensee with an operational base station located in a proximate GSA. Information shared pursuant to this section shall not be disclosed to other parties except as required to ensure compliance with this section. The third party disclosure coordination and information exchange requirements are necessary to ensure that licensees do not cause interference to each other. Federal Communications Commission. Marlene H. Dortch, Secretary, Office of the Secretary. [FR Doc. 2016–25065 Filed 10–17–16; 8:45 am] BILLING CODE 6712–01–P Resolutions and Receiverships, Attention: Receivership Oversight Department 34.6, 1601 Bryan Street, Dallas, TX 75201. No comments concerning the termination of this receivership will be considered which are not sent within this time frame. Dated: October 13, 2016. Federal Deposit Insurance Corporation. Valerie J. Best, Assistant Executive Secretary. [FR Doc. 2016–25130 Filed 10–17–16; 8:45 am] BILLING CODE 6714–01–P FEDERAL RESERVE SYSTEM Proposed Agency Information Collection Activities; Comment Request Board of Governors of the Federal Reserve System. ACTION: Notice for comment regarding the Federal Reserve proposal to extend without revision the clearance under the Paperwork Reduction Act for the following information collection activity. AGENCY: The Board of Governors of the Federal Reserve System (Board or Federal Reserve) invites comment on a proposal to extend for three years, without revision, the following reporting and recordkeeping requirements related to amendments made by the Gramm-Leach-Bliley Act, to the Bank Holding Company Act, the Federal Reserve Act, and related regulations: • The mandatory Declarations to Become a Financial Holding Company (FHC) (FR 4010); 1 • The voluntary Requests for Determinations and Interpretations Regarding Activities Financial in Nature (FR 4011); • The mandatory Notices of Failure to Meet Capital or Management Requirements (FR 4012); 2 • The mandatory Notices by State Member Banks to Invest in Financial Subsidiaries (FR 4017); • The mandatory Regulatory Relief Requests Associated with Merchant Banking Activities (FR 4019); and • The mandatory Recordkeeping Requirements Associated with Merchant Banking Activities (FR 4023). SUMMARY: FEDERAL DEPOSIT INSURANCE CORPORATION Notice to All Interested Parties of the Termination of the Receivership of 10372—Mountain Heritage Bank Clayton, Georgia Notice is hereby given that the Federal Deposit Insurance Corporation (‘‘FDIC’’) as Receiver for Mountain Heritage Bank, Clayton, Georgia (‘‘the Receiver’’) intends to terminate its receivership for said institution. The FDIC was appointed receiver of Mountain Heritage Bank on June 24, 2011. The liquidation of the receivership assets has been completed. To the extent permitted by available funds and in accordance with law, the Receiver will be making a final dividend payment to proven creditors. Based upon the foregoing, the Receiver has determined that the continued existence of the receivership will serve no useful purpose. Consequently, notice is given that the receivership shall be terminated, to be effective no sooner than thirty days after the date of this Notice. If any person wishes to comment concerning the termination of the receivership, such comment must be made in writing and sent within thirty days of the date of this Notice to: Federal Deposit Insurance Corporation, Division of PO 00000 Frm 00042 Fmt 4703 Sfmt 4703 1 Savings and Loan Holding Companies (SLHCs) were added to the FR 4010 as a result of Regulation LL. 12 CFR 238.65. (76 FR 56508) September 13, 2011. 2 SLHCs were added to the FR 4012 as a result of Regulation LL. 12 CFR 238.65. (76 FR 56508) September 13, 2011. E:\FR\FM\18OCN1.SGM 18OCN1 Lhorne on DSK30JT082PROD with NOTICES Federal Register / Vol. 81, No. 201 / Tuesday, October 18, 2016 / Notices These collections of information are event-generated and as such, there are no formal reporting forms associated with them. In each case, the type of information required to be filed is described in the Board’s regulations. On June 15, 1984, the Office of Management and Budget (OMB) delegated to the Board authority under the Paperwork Reduction Act (PRA) to approve of and assign OMB control numbers to collection of information requests and requirements conducted or sponsored by the Board. In exercising this delegated authority, the Board is directed to take every reasonable step to solicit comment. In determining whether to approve a collection of information, the Board will consider all comments received from the public and other agencies. DATES: Comments must be submitted on or before December 19, 2016. ADDRESSES: You may submit comments, identified by GLB Filings, by any of the following methods: • Agency Web site: http:// www.federalreserve.gov. Follow the instructions for submitting comments at http://www.federalreserve.gov/apps/ foia/proposedregs.aspx. • Federal eRulemaking Portal: http:// www.regulations.gov. Follow the instructions for submitting comments. • Email: regs.comments@ federalreserve.gov. Include OMB number in the subject line of the message. • FAX: (202) 452–3819 or (202) 452– 3102. • Mail: Robert deV. Frierson, Secretary, Board of Governors of the Federal Reserve System, 20th Street and Constitution Avenue NW., Washington, DC 20551. All public comments are available from the Board’s Web site at http:// www.federalreserve.gov/apps/foia/ proposedregs.aspx as submitted, unless modified for technical reasons. Accordingly, your comments will not be edited to remove any identifying or contact information. Public comments may also be viewed electronically or in paper form in Room 3515, 1801 K Street (between 18th and 19th Streets NW.) Washington, DC 20006 between 9:00 a.m. and 5:00 p.m. on weekdays. Additionally, commenters may send a copy of their comments to the 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 or by fax to (202) 395–6974. FOR FURTHER INFORMATION CONTACT: A copy of the PRA OMB submission, VerDate Sep<11>2014 13:19 Oct 17, 2016 Jkt 241001 including the proposed reporting form and instructions, supporting statement, and other documentation will be placed into OMB’s public docket files, once approved. These documents will also be made available on the Federal Reserve Board’s public Web site at: http:// www.federalreserve.gov/apps/ reportforms/review.aspx or may be requested from the agency clearance officer, whose name appears below. 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. SUPPLEMENTARY INFORMATION: Request for Comment on Information Collection Proposal The Board invites public comment on the following information collection, which is being reviewed under authority delegated by the OMB under the PRA. Comments are invited on the following: a. Whether the proposed collection of information is necessary for the proper performance of the Federal Reserve’s functions; including whether the information has practical utility; b. The accuracy of the Federal Reserve’s estimate of the burden of the proposed information collection, including the validity of the methodology and assumptions used; c. Ways to enhance the quality, utility, and clarity of the information to be collected; d. Ways to minimize the burden of information collection on respondents, including through the use of automated collection techniques or other forms of information technology; and e. Estimates of capital or startup costs and costs of operation, maintenance, and purchase of services to provide information. At the end of the comment period, the comments and recommendations received will be analyzed to determine the extent to which the Federal Reserve should modify the proposed revisions prior to giving final approval. Proposal To Approve Under OMB Delegated Authority the Extension for Three Years, Without Revision, of the Following Information Collection Report title: Certain Filings Related to the GLB Act. Agency form number: FR 4010, FR 4011, FR 4012, FR 4017, FR 4019, and FR 4023. PO 00000 Frm 00043 Fmt 4703 Sfmt 4703 71731 OMB control number: 7100–0292. Frequency: On occasion. Respondents: BHCs, SLHCs, foreign banking organizations, and state member banks. Estimated number of respondents: FR 4010: BHCs and SLHCs, 31, Foreign banks, 1; FR 4011: 5; FR 4012: BHCs decertified as an FHC, 2, FHCs back into compliance—BHC, 14; FR 4017: 1; FR 4019: Regulatory relief requests, 4, Portfolio company notification 2; FR 4023: 30. Estimated average hours per response: FR 4010: BHCs and SLHCs, 3 hours, Foreign banks, 4 hours; FR 4011: 10 hours; FR 4012: BHCs decertified as an FHC, 1 hour, FHCs back into compliance—BHC, 10 hours; FR 4017: 4 hours; FR 4019: Regulatory relief requests, 1 hour, Portfolio company notification, 1 hour; FR 4023: 50 hours. Estimated annual burden hours: FR 4010: BHCs and SLHCs, 93 hours, Foreign banks, 4 hours; FR 4011: 50 hours; FR 4012: BHCs decertified as an FHC, 2 hours, FHCs back into compliance—BHC, 140 hours; FR 4017: 4 hours; FR 4019: Regulatory relief requests, 4 hours, Portfolio company notification, 2 hours; FR 4023: 1500 hours. General Description of Report FR 4010 The BHC Act, and Regulations Y and LL specify the information to be included in a declaration.3 In most cases, FHC declarations are filed in the form of a letter addressed to the appropriate Federal Reserve Bank. An FHC declaration filed by a U.S. BHC must state that the BHC elects to become an FHC, must be signed by an authorized official or representative, and must provide the following information: • The name and head office address of the BHC and of each depository institution controlled by the BHC (multi-tiered filers may file a single declaration, provided the name and head office address of each tiered company is listed.) • a certification that the BHC and all depository institutions controlled by the BHC are well capitalized and well managed as of the declaration date • the capital ratios (as of the close of the previous quarter for all relevant capital measures) for each depository institution the BHC controls An FHC declaration filed by a U.S. SLHC must state that the SLHC elects to be treated as an FHC, must be signed by an authorized official or representative, 3 12 U.S.C. 1843(l)(1); 12 CFR 225.82, 238.65(b) and 225.91. E:\FR\FM\18OCN1.SGM 18OCN1 71732 Federal Register / Vol. 81, No. 201 / Tuesday, October 18, 2016 / Notices and must provide the following information: • The name and head office address of the SLHC and of each depository institution controlled by the SLHC (Multi-tiered filers may file a single declaration, provided the name and head office address of each tiered company is listed.) • a certification that the SLHC and all depository institutions controlled by the SLHC are well capitalized and well managed as of the declaration date • the capital ratios (as of the close of the previous quarter for all relevant capital measures) for each depository institution the SLHC controls An FHC declaration filed by an FBO must state that the FBO elects to be treated as an FHC, must be signed by an authorized official or representative, and must provide the following information: • With respect to each foreign bank controlled by the FBO, the bank’s riskbased capital ratios, amount of tier 1 capital, and total assets, as of the close of the most recent quarter and as of the close of the most recent audited reporting period • a certification that each foreign bank controlled by the FBO is wellcapitalized and well-managed • a certification that all U.S. depository institutions controlled by the FBO are well capitalized and well managed as of the declaration date • the capital ratios (as of the close of the previous quarter for all relevant capital measures) for each U.S. depository institution controlled by the FBO Lhorne on DSK30JT082PROD with NOTICES FR 4011 Regulation Y specifies the information to be collected in connection with each type of request.4 A request for a determination that an activity is financial in nature or incidental to a financial activity must be in writing and: • Identify, define, and describe the activity and explain how the activity would be conducted, • explain why the activity should be considered financial in nature or incidental to a financial activity; and • include information supporting the request and any other information required by the Board. A request for an advisory opinion that a specific activity is within the scope of activities previously determined to be financial in nature, or incidental to a financial activity, must be in writing and: • Identify and describe the proposed activity or the proposed product or service, • offer support for the desired interpretation, and • include any other information requested by the Board. An applicant seeking prior approval to engage in an activity that the applicant believes is complementary to a financial activity must submit a written request that: • Identifies, defines, and describes the activity and explains how the activity would be conducted; • identifies the financial activity to which the proposed activity would be complementary and provides information sufficient to support a finding that the proposed activity is complementary to the financial activity; • describes the scope and relative size of the proposed activity, measured by the percentage of the FHC’s projected revenues expected to be derived from, and assets associated with, the activity; • discusses the risks the activity may reasonably be expected to pose to the safety and soundness of the FHC’s depository institutions and to the financial system generally; • describes the potential adverse effects, including potential conflicts of interest, decreased or unfair competition, or other risks, that the activity could cause, and the measures the FHC proposes to take to address those potential effects; • describes the potential benefits to the public, such as greater convenience, increased competition, or gains in efficiency, the proposal may be reasonably expected to produce; and • provides information about the FHC’s financial and managerial resources and any other information requested by the Board. FR 4012 Regulation Y provides that the notice must identify the noncompliant banking entity and the area of noncompliance. Regulation Y does not prescribe a format for such notices, however, they typically take the form of a letter.5 Plans submitted to remediate capital and management deficiencies typically include the following: • An explanation of the specific actions the FHC will take to correct all areas of noncompliance • a schedule within which each action will be taken • any other information the Board may require FR 4017 Regulation H requires FR 4017 notices to be in the form of a letter with enclosures and to: 6 • Describe the proposed transaction by which the bank would acquire the stake in the financial subsidiary; • provide the name and head office address of the subsidiary; • describe each current and proposed activity of the financial subsidiary and the legal authority for each activity; • provide the capital ratios, as of the end of the most recent calendar quarter, for the bank and each of its depository institution affiliates; • certify that the bank and each of its depository institution affiliates were well-capitalized at the close of the previous calendar quarter and as of the notice date; • certify that the bank and each of its depository institution affiliates are wellmanaged as of the notice date; • certify that the bank meets any applicable debt rating or alternative requirements and complies both before and after the transaction with the limit on the aggregate amount of assets held by the bank’s financial subsidiaries; and • describe the insurance activities, if the financial subsidiary will engage in insurance activities, to be conducted and identify each state in which the company holds an insurance license and the state insurance authority that issued the license. FR 4019 Regulation Y requires requests for extension of the holding period for a merchant bank investment to include the following information: 7 • The reasons for the request, including information addressing the factors the Board must consider in acting on such a request (including the costs and risks to the FHC of disposing of the investment, market conditions, the extent and history of the FHC’s involvement in managing or operating the portfolio company, and the FHC’s average holding period for its merchant banking investments) • an explanation of the FHC’s plan for divesting the investment A notice of extended routine management or operation of a portfolio company can be in the form of a brief letter and must identify the portfolio company, the date on which the FHC first became involved in the routine management or operation of the portfolio company, the reasons for the FHC’s involvement, the actions taken by the FHC to address the circumstances 6 12 4 12 CFR 225.88(b) and (e), and 225.89. VerDate Sep<11>2014 13:19 Oct 17, 2016 Jkt 241001 5 12 PO 00000 CFR 225.83(b)(1), 225.93(b)(1) and 238.66(b). Frm 00044 Fmt 4703 Sfmt 4703 7 12 E:\FR\FM\18OCN1.SGM CFR 208.76. CFR 225.172(b)(4). 18OCN1 Federal Register / Vol. 81, No. 201 / Tuesday, October 18, 2016 / Notices giving rise to its involvement, and an estimate of when the FHC anticipates ceasing routinely managing or operating the portfolio company. Lhorne on DSK30JT082PROD with NOTICES FR 4023 The general policies and procedures that an FHC must establish with respect to merchant banking must be reasonably designed to: 8 • Monitor, with respect to each investment and the entire portfolio, carrying and market values and performance; • identify and manage market, credit, and other risks of such investments; • identify and monitor terms and risks of transactions of companies in which the FHC has merchant banking investments; • ensure the corporate separateness of the FHC and the companies in which it has merchant banking investments; • ensure compliance with sections 23A and 23B of the FRA, anti-tying statutes, Regulation Y, and any other applicable provisions of law. Legal Authorization and Confidentiality • FR 4010 is authorized by section 4(l)(1)(C) of the BHC Act (12 U.S.C. 1843 (l)(1)(C)); section 10(c)(2)(H) of the Home Owners’ Loan Act (12 U.S.C. 1467a(c)(2)(H)); section 8(a) of the International Banking Act (12 U.S.C. 3106(a)); sections 225.82 and 225.91 of the Board’s Regulation Y (12 CFR 225.82, 225.91; and section 238.65 of the Board’s Regulation LL (12 CFR 238.65)). • FR 4011 is authorized by section 4(j) and (k) of the BHC Act (12 U.S.C. 1843(j)–(k)), and sections 225.88 and 225.89 of the Board’s Regulation Y (12 CFR 225.88, 225.89). • FR 4012 is authorized by section 4(l)(1) and 4(m) of the BHC Act (12 U.S.C. 1843(l)(1), (m)); section 10(c)(2)(H) of the Home Owners’ Loan Act (12 U.S.C. 1467a(c)(2)(H)); section 8(a) of the International Banking Act (12 U.S.C. 3106(a)); sections 225.83 and 225.93 of the Board’s Regulation Y (12 CFR 225.83, 225.93); and section 238.66(b) of the Board’s Regulation LL (12 CFR 238.66(b)). • FR 4017 is authorized by section 9 of the FRA (12 U.S.C. 335), and section 208.76 of the Board’s Regulation H (12 CFR 208.76). • FR 4019 is authorized by section 4(k)(7) of the BHC Act (12 U.S.C. 1843(k)(7)); sections 225.171(e)(3), 225.172(b)(4); and section 225.173(c)(2) of the Board’s Regulation Y (12 CFR 225.171(e)(3), 225.172(b)(4), 225.173(c)(2)). 8 12 CFR 225.175(a)(1). VerDate Sep<11>2014 13:19 Oct 17, 2016 Jkt 241001 • FR 4023 is authorized by section 4(k)(7) of the BHC Act (12 U.S.C. 1843(k)(7)), and sections 225.171(e)(4) and 225.175 of the Board’s Regulation Y (12 CFR 225.171(e)(4), 225.175). The obligation to respond to the FR 4011 is voluntary (for requests to determine that an activity is financial in nature or to issue an advisory opinion that an activity is within the scope of an activity previously determined to be financial in nature) and required to obtain or retain benefits (for approvals to engage in an activity that is complementary to a financial activity). The obligation to respond to the FR 4010, FR 4017, and FR 4019 is required to obtain or retain benefits. The obligation to respond to FR 4012 and the obligation to comply with the recordkeeping requirements of the FR 4023 is mandatory. The information collected on the FR 4010, FR 4011, FR 4017, and FR 4019 and information related to a failure to meet capital requirements on the FR 4012 is not generally considered confidential. Nevertheless, a respondent may request confidential treatment of information contained in these information collections in accordance with section (b)(4) or (b)(6) of the Freedom of Information Act (FOIA) (5 U.S.C. 552(b)(4), (b)(6)). Any request for confidential treatment of information must be accompanied by a detailed justification for confidentiality. Information related to a failure to meet management requirements on the FR 4012 is considered confidential and exempt from disclosure under section (b)(4), because the release of this information would cause substantial harm to the competitive position of the entity, and section (b)(8), if the information is related to examination, operating, or condition reports prepared by, on behalf of, or for the use of an agency responsible for the regulation or supervision of financial institutions (5 U.S.C. 552(b)(4), (b)(8)). Additionally, the records kept in accordance with the Recordkeeping Requirements Associated with Merchant Banking Activities are retained by the respondent itself and the FOIA would only be implicated if the Board’s examiners retained a copy of the records as part of an examination or supervision of a banking institution. In this case, the records would likely be exempt from disclosure under exemption (b)(8), for examination material. 5 U.S.C. 552(b)(8). In addition, the records may also be exempt under (b)(4) and (b)(6). PO 00000 Frm 00045 Fmt 4703 Sfmt 4703 71733 Board of Governors of the Federal Reserve System, October 13, 2016. Robert deV. Frierson, Secretary of the Board. [FR Doc. 2016–25129 Filed 10–17–16; 8:45 am] BILLING CODE 6210–01–P DEPARTMENT OF DEFENSE GENERAL SERVICES ADMINISTRATION NATIONAL AERONAUTICS AND SPACE ADMINISTRATION [OMB Control No. 9000–0094]; [Docket 2016–0053; Sequence 11] Submission for OMB Review; Debarment and Suspension and Other Responsibility Matters Department of Defense (DOD), General Services Administration (GSA), and National Aeronautics and Space Administration (NASA). ACTION: Notice of request for comments regarding an extension to an existing OMB clearance. AGENCY: Under the provisions of the Paperwork Reduction Act the Regulatory Secretariat Division will be submitting to the Office of Management and Budget (OMB) a request to review and approve an extension of a previously approved information collection requirement concerning debarment and suspension. This request also incorporated two other related information collection requirements (‘‘Information Regarding Responsibility Matters’’ and ‘‘Prohibition on Contracting with Inverted Domestic Corporations—Representation and Notification’’), which will be cancelled upon approval of this clearance. A notice was published in the Federal Register at 81 FR 8719 on February 22, 2016. One comment was received. DATES: Submit comments on or before November 17, 2016. ADDRESSES: Submit comments regarding this burden estimate or any other aspect of this collection of information, including suggestions for reducing this burden to: Office of Information and Regulatory Affairs of OMB, Attention: Desk Office for GSA, Room 10236, NEOB, Washington, DC 20503. Additionally, submit a copy to GSA by any of the following methods: • Regulations.gov: http:// www.regulations.gov. Submit comments via the Federal eRulemaking portal by searching the OMB control number. Select the link ‘‘Submit a Comment’’ that corresponds SUMMARY: E:\FR\FM\18OCN1.SGM 18OCN1

Agencies

[Federal Register Volume 81, Number 201 (Tuesday, October 18, 2016)]
[Notices]
[Pages 71730-71733]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-25129]


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FEDERAL RESERVE SYSTEM


Proposed Agency Information Collection Activities; Comment 
Request

AGENCY: Board of Governors of the Federal Reserve System.

ACTION: Notice for comment regarding the Federal Reserve proposal to 
extend without revision the clearance under the Paperwork Reduction Act 
for the following information collection activity.

-----------------------------------------------------------------------

SUMMARY: The Board of Governors of the Federal Reserve System (Board or 
Federal Reserve) invites comment on a proposal to extend for three 
years, without revision, the following reporting and recordkeeping 
requirements related to amendments made by the Gramm-Leach-Bliley Act, 
to the Bank Holding Company Act, the Federal Reserve Act, and related 
regulations:
     The mandatory Declarations to Become a Financial Holding 
Company (FHC) (FR 4010); \1\
---------------------------------------------------------------------------

    \1\ Savings and Loan Holding Companies (SLHCs) were added to the 
FR 4010 as a result of Regulation LL. 12 CFR 238.65. (76 FR 56508) 
September 13, 2011.
---------------------------------------------------------------------------

     The voluntary Requests for Determinations and 
Interpretations Regarding Activities Financial in Nature (FR 4011);
     The mandatory Notices of Failure to Meet Capital or 
Management Requirements (FR 4012); \2\
---------------------------------------------------------------------------

    \2\ SLHCs were added to the FR 4012 as a result of Regulation 
LL. 12 CFR 238.65. (76 FR 56508) September 13, 2011.
---------------------------------------------------------------------------

     The mandatory Notices by State Member Banks to Invest in 
Financial Subsidiaries (FR 4017);
     The mandatory Regulatory Relief Requests Associated with 
Merchant Banking Activities (FR 4019); and
     The mandatory Recordkeeping Requirements Associated with 
Merchant Banking Activities (FR 4023).

[[Page 71731]]

    These collections of information are event-generated and as such, 
there are no formal reporting forms associated with them. In each case, 
the type of information required to be filed is described in the 
Board's regulations.
    On June 15, 1984, the Office of Management and Budget (OMB) 
delegated to the Board authority under the Paperwork Reduction Act 
(PRA) to approve of and assign OMB control numbers to collection of 
information requests and requirements conducted or sponsored by the 
Board. In exercising this delegated authority, the Board is directed to 
take every reasonable step to solicit comment. In determining whether 
to approve a collection of information, the Board will consider all 
comments received from the public and other agencies.

DATES: Comments must be submitted on or before December 19, 2016.

ADDRESSES: You may submit comments, identified by GLB Filings, by any 
of the following methods:
     Agency Web site: http://www.federalreserve.gov. Follow the 
instructions for submitting comments at http://www.federalreserve.gov/apps/foia/proposedregs.aspx.
     Federal eRulemaking Portal: http://www.regulations.gov. 
Follow the instructions for submitting comments.
     Email: regs.comments@federalreserve.gov. Include OMB 
number in the subject line of the message.
     FAX: (202) 452-3819 or (202) 452-3102.
     Mail: Robert deV. Frierson, Secretary, Board of Governors 
of the Federal Reserve System, 20th Street and Constitution Avenue NW., 
Washington, DC 20551.
    All public comments are available from the Board's Web site at 
http://www.federalreserve.gov/apps/foia/proposedregs.aspx as submitted, 
unless modified for technical reasons. Accordingly, your comments will 
not be edited to remove any identifying or contact information. Public 
comments may also be viewed electronically or in paper form in Room 
3515, 1801 K Street (between 18th and 19th Streets NW.) Washington, DC 
20006 between 9:00 a.m. and 5:00 p.m. on weekdays.
    Additionally, commenters may send a copy of their comments to the 
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 or by 
fax to (202) 395-6974.

FOR FURTHER INFORMATION CONTACT: A copy of the PRA OMB submission, 
including the proposed reporting form and instructions, supporting 
statement, and other documentation will be placed into OMB's public 
docket files, once approved. These documents will also be made 
available on the Federal Reserve Board's public Web site at: http://www.federalreserve.gov/apps/reportforms/review.aspx or may be requested 
from the agency clearance officer, whose name appears below.
    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.

SUPPLEMENTARY INFORMATION: 

Request for Comment on Information Collection Proposal

    The Board invites public comment on the following information 
collection, which is being reviewed under authority delegated by the 
OMB under the PRA. Comments are invited on the following:
    a. Whether the proposed collection of information is necessary for 
the proper performance of the Federal Reserve's functions; including 
whether the information has practical utility;
    b. The accuracy of the Federal Reserve's estimate of the burden of 
the proposed information collection, including the validity of the 
methodology and assumptions used;
    c. Ways to enhance the quality, utility, and clarity of the 
information to be collected;
    d. Ways to minimize the burden of information collection on 
respondents, including through the use of automated collection 
techniques or other forms of information technology; and
    e. Estimates of capital or startup costs and costs of operation, 
maintenance, and purchase of services to provide information.
    At the end of the comment period, the comments and recommendations 
received will be analyzed to determine the extent to which the Federal 
Reserve should modify the proposed revisions prior to giving final 
approval.

Proposal To Approve Under OMB Delegated Authority the Extension for 
Three Years, Without Revision, of the Following Information Collection

    Report title: Certain Filings Related to the GLB Act.
    Agency form number: FR 4010, FR 4011, FR 4012, FR 4017, FR 4019, 
and FR 4023.
    OMB control number: 7100-0292.
    Frequency: On occasion.
    Respondents: BHCs, SLHCs, foreign banking organizations, and state 
member banks.
    Estimated number of respondents: FR 4010: BHCs and SLHCs, 31, 
Foreign banks, 1; FR 4011: 5; FR 4012: BHCs decertified as an FHC, 2, 
FHCs back into compliance--BHC, 14; FR 4017: 1; FR 4019: Regulatory 
relief requests, 4, Portfolio company notification 2; FR 4023: 30.
    Estimated average hours per response: FR 4010: BHCs and SLHCs, 3 
hours, Foreign banks, 4 hours; FR 4011: 10 hours; FR 4012: BHCs 
decertified as an FHC, 1 hour, FHCs back into compliance--BHC, 10 
hours; FR 4017: 4 hours; FR 4019: Regulatory relief requests, 1 hour, 
Portfolio company notification, 1 hour; FR 4023: 50 hours.
    Estimated annual burden hours: FR 4010: BHCs and SLHCs, 93 hours, 
Foreign banks, 4 hours; FR 4011: 50 hours; FR 4012: BHCs decertified as 
an FHC, 2 hours, FHCs back into compliance--BHC, 140 hours; FR 4017: 4 
hours; FR 4019: Regulatory relief requests, 4 hours, Portfolio company 
notification, 2 hours; FR 4023: 1500 hours.

General Description of Report

FR 4010
    The BHC Act, and Regulations Y and LL specify the information to be 
included in a declaration.\3\ In most cases, FHC declarations are filed 
in the form of a letter addressed to the appropriate Federal Reserve 
Bank.
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    \3\ 12 U.S.C. 1843(l)(1); 12 CFR 225.82, 238.65(b) and 225.91.
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    An FHC declaration filed by a U.S. BHC must state that the BHC 
elects to become an FHC, must be signed by an authorized official or 
representative, and must provide the following information:
     The name and head office address of the BHC and of each 
depository institution controlled by the BHC (multi-tiered filers may 
file a single declaration, provided the name and head office address of 
each tiered company is listed.)
     a certification that the BHC and all depository 
institutions controlled by the BHC are well capitalized and well 
managed as of the declaration date
     the capital ratios (as of the close of the previous 
quarter for all relevant capital measures) for each depository 
institution the BHC controls
    An FHC declaration filed by a U.S. SLHC must state that the SLHC 
elects to be treated as an FHC, must be signed by an authorized 
official or representative,

[[Page 71732]]

and must provide the following information:
     The name and head office address of the SLHC and of each 
depository institution controlled by the SLHC (Multi-tiered filers may 
file a single declaration, provided the name and head office address of 
each tiered company is listed.)
     a certification that the SLHC and all depository 
institutions controlled by the SLHC are well capitalized and well 
managed as of the declaration date
     the capital ratios (as of the close of the previous 
quarter for all relevant capital measures) for each depository 
institution the SLHC controls
    An FHC declaration filed by an FBO must state that the FBO elects 
to be treated as an FHC, must be signed by an authorized official or 
representative, and must provide the following information:
     With respect to each foreign bank controlled by the FBO, 
the bank's risk-based capital ratios, amount of tier 1 capital, and 
total assets, as of the close of the most recent quarter and as of the 
close of the most recent audited reporting period
     a certification that each foreign bank controlled by the 
FBO is well-capitalized and well-managed
     a certification that all U.S. depository institutions 
controlled by the FBO are well capitalized and well managed as of the 
declaration date
     the capital ratios (as of the close of the previous 
quarter for all relevant capital measures) for each U.S. depository 
institution controlled by the FBO
FR 4011
    Regulation Y specifies the information to be collected in 
connection with each type of request.\4\ A request for a determination 
that an activity is financial in nature or incidental to a financial 
activity must be in writing and:
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    \4\ 12 CFR 225.88(b) and (e), and 225.89.
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     Identify, define, and describe the activity and explain 
how the activity would be conducted,
     explain why the activity should be considered financial in 
nature or incidental to a financial activity; and
     include information supporting the request and any other 
information required by the Board.
    A request for an advisory opinion that a specific activity is 
within the scope of activities previously determined to be financial in 
nature, or incidental to a financial activity, must be in writing and:
     Identify and describe the proposed activity or the 
proposed product or service,
     offer support for the desired interpretation, and
     include any other information requested by the Board.
    An applicant seeking prior approval to engage in an activity that 
the applicant believes is complementary to a financial activity must 
submit a written request that:
     Identifies, defines, and describes the activity and 
explains how the activity would be conducted;
     identifies the financial activity to which the proposed 
activity would be complementary and provides information sufficient to 
support a finding that the proposed activity is complementary to the 
financial activity;
     describes the scope and relative size of the proposed 
activity, measured by the percentage of the FHC's projected revenues 
expected to be derived from, and assets associated with, the activity;
     discusses the risks the activity may reasonably be 
expected to pose to the safety and soundness of the FHC's depository 
institutions and to the financial system generally;
     describes the potential adverse effects, including 
potential conflicts of interest, decreased or unfair competition, or 
other risks, that the activity could cause, and the measures the FHC 
proposes to take to address those potential effects;
     describes the potential benefits to the public, such as 
greater convenience, increased competition, or gains in efficiency, the 
proposal may be reasonably expected to produce; and
     provides information about the FHC's financial and 
managerial resources and any other information requested by the Board.
FR 4012
    Regulation Y provides that the notice must identify the 
noncompliant banking entity and the area of noncompliance. Regulation Y 
does not prescribe a format for such notices, however, they typically 
take the form of a letter.\5\ Plans submitted to remediate capital and 
management deficiencies typically include the following:
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    \5\ 12 CFR 225.83(b)(1), 225.93(b)(1) and 238.66(b).
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     An explanation of the specific actions the FHC will take 
to correct all areas of noncompliance
     a schedule within which each action will be taken
     any other information the Board may require
FR 4017
    Regulation H requires FR 4017 notices to be in the form of a letter 
with enclosures and to: \6\
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    \6\ 12 CFR 208.76.
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     Describe the proposed transaction by which the bank would 
acquire the stake in the financial subsidiary;
     provide the name and head office address of the 
subsidiary;
     describe each current and proposed activity of the 
financial subsidiary and the legal authority for each activity;
     provide the capital ratios, as of the end of the most 
recent calendar quarter, for the bank and each of its depository 
institution affiliates;
     certify that the bank and each of its depository 
institution affiliates were well-capitalized at the close of the 
previous calendar quarter and as of the notice date;
     certify that the bank and each of its depository 
institution affiliates are well-managed as of the notice date;
     certify that the bank meets any applicable debt rating or 
alternative requirements and complies both before and after the 
transaction with the limit on the aggregate amount of assets held by 
the bank's financial subsidiaries; and
     describe the insurance activities, if the financial 
subsidiary will engage in insurance activities, to be conducted and 
identify each state in which the company holds an insurance license and 
the state insurance authority that issued the license.
FR 4019
    Regulation Y requires requests for extension of the holding period 
for a merchant bank investment to include the following information: 
\7\
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    \7\ 12 CFR 225.172(b)(4).
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     The reasons for the request, including information 
addressing the factors the Board must consider in acting on such a 
request (including the costs and risks to the FHC of disposing of the 
investment, market conditions, the extent and history of the FHC's 
involvement in managing or operating the portfolio company, and the 
FHC's average holding period for its merchant banking investments)
     an explanation of the FHC's plan for divesting the 
investment
    A notice of extended routine management or operation of a portfolio 
company can be in the form of a brief letter and must identify the 
portfolio company, the date on which the FHC first became involved in 
the routine management or operation of the portfolio company, the 
reasons for the FHC's involvement, the actions taken by the FHC to 
address the circumstances

[[Page 71733]]

giving rise to its involvement, and an estimate of when the FHC 
anticipates ceasing routinely managing or operating the portfolio 
company.
FR 4023
    The general policies and procedures that an FHC must establish with 
respect to merchant banking must be reasonably designed to: \8\
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    \8\ 12 CFR 225.175(a)(1).
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     Monitor, with respect to each investment and the entire 
portfolio, carrying and market values and performance;
     identify and manage market, credit, and other risks of 
such investments;
     identify and monitor terms and risks of transactions of 
companies in which the FHC has merchant banking investments;
     ensure the corporate separateness of the FHC and the 
companies in which it has merchant banking investments;
     ensure compliance with sections 23A and 23B of the FRA, 
anti-tying statutes, Regulation Y, and any other applicable provisions 
of law.

Legal Authorization and Confidentiality

     FR 4010 is authorized by section 4(l)(1)(C) of the BHC Act 
(12 U.S.C. 1843 (l)(1)(C)); section 10(c)(2)(H) of the Home Owners' 
Loan Act (12 U.S.C. 1467a(c)(2)(H)); section 8(a) of the International 
Banking Act (12 U.S.C. 3106(a)); sections 225.82 and 225.91 of the 
Board's Regulation Y (12 CFR 225.82, 225.91; and section 238.65 of the 
Board's Regulation LL (12 CFR 238.65)).
     FR 4011 is authorized by section 4(j) and (k) of the BHC 
Act (12 U.S.C. 1843(j)-(k)), and sections 225.88 and 225.89 of the 
Board's Regulation Y (12 CFR 225.88, 225.89).
     FR 4012 is authorized by section 4(l)(1) and 4(m) of the 
BHC Act (12 U.S.C. 1843(l)(1), (m)); section 10(c)(2)(H) of the Home 
Owners' Loan Act (12 U.S.C. 1467a(c)(2)(H)); section 8(a) of the 
International Banking Act (12 U.S.C. 3106(a)); sections 225.83 and 
225.93 of the Board's Regulation Y (12 CFR 225.83, 225.93); and section 
238.66(b) of the Board's Regulation LL (12 CFR 238.66(b)).
     FR 4017 is authorized by section 9 of the FRA (12 U.S.C. 
335), and section 208.76 of the Board's Regulation H (12 CFR 208.76).
     FR 4019 is authorized by section 4(k)(7) of the BHC Act 
(12 U.S.C. 1843(k)(7)); sections 225.171(e)(3), 225.172(b)(4); and 
section 225.173(c)(2) of the Board's Regulation Y (12 CFR 
225.171(e)(3), 225.172(b)(4), 225.173(c)(2)).
     FR 4023 is authorized by section 4(k)(7) of the BHC Act 
(12 U.S.C. 1843(k)(7)), and sections 225.171(e)(4) and 225.175 of the 
Board's Regulation Y (12 CFR 225.171(e)(4), 225.175).
    The obligation to respond to the FR 4011 is voluntary (for requests 
to determine that an activity is financial in nature or to issue an 
advisory opinion that an activity is within the scope of an activity 
previously determined to be financial in nature) and required to obtain 
or retain benefits (for approvals to engage in an activity that is 
complementary to a financial activity). The obligation to respond to 
the FR 4010, FR 4017, and FR 4019 is required to obtain or retain 
benefits. The obligation to respond to FR 4012 and the obligation to 
comply with the recordkeeping requirements of the FR 4023 is mandatory.
    The information collected on the FR 4010, FR 4011, FR 4017, and FR 
4019 and information related to a failure to meet capital requirements 
on the FR 4012 is not generally considered confidential. Nevertheless, 
a respondent may request confidential treatment of information 
contained in these information collections in accordance with section 
(b)(4) or (b)(6) of the Freedom of Information Act (FOIA) (5 U.S.C. 
552(b)(4), (b)(6)). Any request for confidential treatment of 
information must be accompanied by a detailed justification for 
confidentiality. Information related to a failure to meet management 
requirements on the FR 4012 is considered confidential and exempt from 
disclosure under section (b)(4), because the release of this 
information would cause substantial harm to the competitive position of 
the entity, and section (b)(8), if the information is related to 
examination, operating, or condition reports prepared by, on behalf of, 
or for the use of an agency responsible for the regulation or 
supervision of financial institutions (5 U.S.C. 552(b)(4), (b)(8)).
    Additionally, the records kept in accordance with the Recordkeeping 
Requirements Associated with Merchant Banking Activities are retained 
by the respondent itself and the FOIA would only be implicated if the 
Board's examiners retained a copy of the records as part of an 
examination or supervision of a banking institution. In this case, the 
records would likely be exempt from disclosure under exemption (b)(8), 
for examination material. 5 U.S.C. 552(b)(8). In addition, the records 
may also be exempt under (b)(4) and (b)(6).

    Board of Governors of the Federal Reserve System, October 13, 
2016.
Robert deV. Frierson,
Secretary of the Board.
[FR Doc. 2016-25129 Filed 10-17-16; 8:45 am]
 BILLING CODE 6210-01-P