Proposed Guidance on Supervisory Expectations for Boards of Directors, 47206-47207 [2017-21859]

Download as PDF 47206 Federal Register / Vol. 82, No. 195 / Wednesday, October 11, 2017 / Notices Philadelphia, Pennsylvania 19105– 1521. Comments can also be sent electronically to Comments.applications@phil.frb.org: 1. Stephen M. Holden, Merchantville, New Jersey; as co-Voting Trustee of the J. Mark Baiada Voting Trust, Toms River, New Jersey, to join J. Mark Baiada, Moorestown, New Jersey; Ann Baiada, Moorestown, New Jersey; the 1994 Baiada Family Trust, Evergreen, Colorado; Michael Baiada, Evergreen, Colorado, as trustee of the 1994 Baiada Family Trust; L. Mathew and Janet Baiada, Moorestown, New Jersey; Paul Melan Baiada, Moorestown, New Jersey; the Paul Melan Baiada 1999 Family Trust, Moorestown, New Jersey; Diane Baiada, Moorestown, New Jersey, as trustee of the Paul Melan Baiada 1999 Family Trust; the Baiada Trust for the Benefit of Caitlin Baiada, Moorestown, New Jersey; Diane Baiada and Michael Baiada, as trustees of the Baiada Trust for the Benefit of Caitlin Baiada; the Baiada Trust for the Benefit of Emma Baiada, Moorestown, New Jersey; Diane Baiada and Michael Baiada, as trustees of the Baiada Trust for the Benefit of Emma Baiada; and OceanFirst Bank, Toms River, New Jersey as the co-Voting Trustee of the J. Mark Baiada Voting Trust, Toms River, New Jersey, as part of a group acting in concert to retain voting shares and thereby retain shares of Cornerstone Financial Corporation, Mount Laurel, New Jersey, and thereby retain shares of Cornerstone Bank, Mount Laurel, New Jersey. Board of Governors of the Federal Reserve System, October 5, 2017. Ann Misback, Secretary of the Board. [FR Doc. 2017–21949 Filed 10–10–17; 8:45 am] BILLING CODE P FEDERAL RESERVE SYSTEM asabaliauskas on DSKBBXCHB2PROD with NOTICES Formations of, Acquisitions by, and Mergers of Bank Holding Companies The companies listed in this notice have applied to the Board for approval, pursuant to the Bank Holding Company Act of 1956 (12 U.S.C. 1841 et seq.) (BHC Act), Regulation Y (12 CFR 225), and all other applicable statutes and regulations to become a bank holding company and/or to acquire the assets or the ownership of, control of, or the power to vote shares of a bank or bank holding company and all of the banks and nonbanking companies owned by the bank holding company, including the companies listed below. The applications listed below, as well as other related filings required by the Board, are available for immediate VerDate Sep<11>2014 17:58 Oct 10, 2017 Jkt 244001 inspection at the Federal Reserve Bank indicated. The applications will also be available for inspection at the offices of the Board of Governors. Interested persons may express their views in writing on the standards enumerated in the BHC Act (12 U.S.C. 1842(c)). If the proposal also involves the acquisition of a nonbanking company, the review also includes whether the acquisition of the nonbanking company complies with the standards in section 4 of the BHC Act (12 U.S.C. 1843). Unless otherwise noted, nonbanking activities will be conducted throughout the United States. Unless otherwise noted, comments regarding each of these applications must be received at the Reserve Bank indicated or the offices of the Board of Governors not later than November 6, 2017. A. Federal Reserve Bank of Cleveland (Nadine Wallman, Vice President) 1455 East Sixth Street, Cleveland, Ohio 44101–2566. Comments can also be sent electronically to Comments.applications@clev.frb.org: 1. First Financial Bancorp, Cincinnati, Ohio; to merge with MainSource Financial Group, Inc., and thereby indirectly acquire MainSource Bank, both of Greensburg, Indiana. B. Federal Reserve Bank of Kansas City (Dennis Denney, Assistant Vice President) 1 Memorial Drive, Kansas City, Missouri 64198–0001: 1. BancFirst Corporation, Oklahoma City, Oklahoma; to merge with First Wagoner Corporation, and thereby indirectly acquire shares of First Bank and Trust Company, both of Wagoner, Oklahoma. 2. BancFirst Corporation, Oklahoma City, Oklahoma; to merge with First Chandler Corp., and thereby indirectly acquire shares of First Bank of Chandler, both of Chandler, Oklahoma. Board of Governors of the Federal Reserve System, October 4, 2017. Ann Misback, Secretary of the Board. [FR Doc. 2017–21791 Filed 10–10–17; 8:45 am] BILLING CODE P FEDERAL RESERVE SYSTEM [Docket No. OP–1570] Proposed Guidance on Supervisory Expectations for Boards of Directors Board of Governors of the Federal Reserve System (Board). ACTION: Notice; extension of comment period. AGENCY: On August 9, 2017, the Board published in the Federal Register SUMMARY: PO 00000 Frm 00036 Fmt 4703 Sfmt 4703 proposed guidance on supervisory expectations for boards of directors. To facilitate effective public comment on the proposed guidance, the Board has determined that an extension of the comment period until November 30, 2017, is appropriate. This action will allow interested persons additional time to analyze the proposal and prepare their comments. DATES: Comments on the proposal must be received on or before November 30, 2017. ADDRESSES: You may submit comments by any of the methods identified in the proposal.1 Please submit your comments using only one method. FOR FURTHER INFORMATION CONTACT: Michael Hsu, Associate Director, (202) 912–4330, Michael Solomon, Associate Director, (202) 452–3502, Richard Naylor, Associate Director, (202) 728– 5854, Division of Supervision and Regulation; Ben McDonough, Assistant General Counsel, (202) 452–2036, Scott Tkacz, Senior Counsel, (202) 452–2744, Keisha Patrick, Senior Counsel, (202) 452–3559, or Chris Callanan, Senior Attorney, (202) 452–3594, Legal Division, Board of Governors of the Federal Reserve System, 20th and C Streets NW., Washington, DC 20551. For the hearing impaired only, Telecommunications Device for the Deaf (TDD) users may contact (202) 263– 4869. SUPPLEMENTARY INFORMATION: On August 9, 2017, the Board published in the Federal Register proposed guidance on supervisory expectations for boards of directors of firms supervised by the Federal Reserve. The proposal addresses supervisory expectations for the boards of directors of bank holding companies, savings and loan holding companies, state member banks, U.S. branches and agencies of foreign banking organizations, and systemically important nonbank financial companies designated by the Financial Stability Oversight Council for supervision by the Federal Reserve. For the largest domestic bank and savings and loan holding companies and systemically important nonbank financial companies, the proposal would establish attributes of effective boards centered on the board’s core responsibilities, which support safety and soundness, and would provide the framework with which the Federal Reserve would evaluate the effectiveness of a firm’s boards of directors. For all domestic bank and savings and loan holding 1 See ‘‘Proposed Guidance on Supervisory Expectation for Boards of Directors,’’ 82 FR 37219 (August 9, 2017). E:\FR\FM\11OCN1.SGM 11OCN1 Federal Register / Vol. 82, No. 195 / Wednesday, October 11, 2017 / Notices companies, supervisory expectations for boards of directors contained in certain existing Federal Reserve Supervision and Regulation letters would be revised or eliminated to better distinguish a board’s roles and responsibilities from those of senior management and allow boards to focus more of their time and resources on fulfilling their core responsibilities. In recognition of the range of issues addressed and the variety of considerations involved with implementing the proposal, the Board requested that commenters respond to a number of questions. The proposal stated that the comment period would close on October 10, 2017.2 An extension of the comment period will facilitate public comment on the provisions of the proposal and the questions posed by the Board. Therefore, the Board is extending the end of the comment period for the proposal from October 10, 2017, to November 30, 2017. By order of the Board of Governors of the Federal Reserve System, acting through the Secretary of the Board under delegated authority, October 5, 2017. Ann E. Misback, Secretary of the Board. [FR Doc. 2017–21859 Filed 10–10–17; 8:45 am] BILLING CODE P FEDERAL RESERVE SYSTEM asabaliauskas on DSKBBXCHB2PROD with NOTICES 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 October 24, 2017. A. Federal Reserve Bank of Kansas City (Dennis Denney, Assistant Vice President) 1 Memorial Drive, Kansas City, Missouri 64198–0001: 2 Id. VerDate Sep<11>2014 17:58 Oct 10, 2017 Jkt 244001 1. Susan Schardt, Kearney, Nebraska, individually, and as co-trustee of the following trusts: Brian Schardt Trust No. 2; the Christina Nokelby Trust No. 2; the Kimberly Schardt Porter Trust No. 2; and the Rebecca Rathjen Trust No. 2, and as a member of the Schardt Family Group; to acquire shares of Bank Management, Inc., Wahoo, Nebraska and thereby indirectly acquire voting shares of First Bank of Nebraska, Wahoo, Nebraska. 2. Susan Schardt, Kearney, Nebraska, individually, and as co-trustee of the following trusts: Brian Schardt Trust No. 2; the Christina Nokelby Trust No. 2; the Kimberly Schardt Porter Trust No. 2; and the Rebecca Rathjen Trust No. 2; to acquire voting shares of Exchange Company, Kearney, Nebraska, and thereby indirectly acquire voting shares of Exchange Bank, Gibbon, Nebraska. B. Federal Reserve Bank of Dallas (Robert L. Triplett III, Senior Vice President) 2200 North Pearl Street, Dallas, Texas 75201–2272: 1. Robert G. Good, Corrales, New Mexico; and Robert G. Good, M. Carolyn Good, Los Ranchos, New Mexico, the Good Living Trust/Family Trust, Los Ranchos, New Mexico, Cynthia Alysce Good, Andover, Massachusetts, the 2005 Natalie Grace Good Trust, Andover, Massachusetts, and Thomas Cody Graves, the Lisa L. Graves Heritage Trust, the Cody Clark Graves Heritage Trust, and the Debra L. Graves Bridges Heritage Trust, all of Goldthwaite, Texas, as a group acting in concert (the Good-Graves Family Group); to retain voting shares of Goldthwaite Bancshares, Inc., Goldthwaite, Texas, and thereby retain shares of Mills County State Bank, Goldthwaite, Texas. Board of Governors of the Federal Reserve System, October 4, 2017. Ann Misback, Secretary of the Board. [FR Doc. 2017–21792 Filed 10–10–17; 8:45 am] BILLING CODE P FEDERAL RESERVE SYSTEM Formations of, Acquisitions by, and Mergers of Savings and Loan Holding Companies The companies listed in this notice have applied to the Board for approval, pursuant to the Home Owners’ Loan Act (12 U.S.C. 1461 et seq.) (HOLA), Regulation LL (12 CFR part 238), and Regulation MM (12 CFR part 239), and all other applicable statutes and regulations to become a savings and loan holding company and/or to acquire the assets or the ownership of, control of, or the power to vote shares of a PO 00000 Frm 00037 Fmt 4703 Sfmt 4703 47207 savings association and nonbanking companies owned by the savings and loan holding company, including the companies listed below. The applications listed below, as well as other related filings required by the Board, are available for immediate inspection at the Federal Reserve Bank indicated. The application also will be available for inspection at the offices of the Board of Governors. Interested persons may express their views in writing on the standards enumerated in the HOLA (12 U.S.C. 1467a(e)). If the proposal also involves the acquisition of a nonbanking company, the review also includes whether the acquisition of the nonbanking company complies with the standards in section 10(c)(4)(B) of the HOLA (12 U.S.C. 1467a(c)(4)(B)). Unless otherwise noted, nonbanking activities will be conducted throughout the United States. Unless otherwise noted, comments regarding each of these applications must be received at the Reserve Bank indicated or the offices of the Board of Governors not later than November 7, 2017. A. Federal Reserve Bank of Cleveland (Nadine Wallman, Vice President) 1455 East Sixth Street, Cleveland, Ohio 44101–2566. Comments can also be sent electronically to Comments.applications@clev.frb.org: 1. First Mutual Holding Co., Lakewood, Ohio; to acquire First Mutual Bank, Belpre, Ohio. Board of Governors of the Federal Reserve System, October 4, 2017. Ann Misback, Secretary of the Board. [FR Doc. 2017–21876 Filed 10–10–17; 8:45 am] BILLING CODE 6210–01–P FEDERAL TRADE COMMISSION Agency Information Collection Activities; Proposed Collection; Comment Request Federal Trade Commission (‘‘FTC’’ or ‘‘Commission’’). ACTION: Notice. AGENCY: The information collection requirements described below will be submitted to the Office of Management and Budget (OMB) for review, as required by the Paperwork Reduction Act (PRA). The FTC seeks public comments on its proposal to extend, for three years, the current PRA clearance for information collection requirements contained in its Trade Regulation Rule entitled Labeling and Advertising of Home Insulation (R-value Rule or Rule). SUMMARY: E:\FR\FM\11OCN1.SGM 11OCN1

Agencies

[Federal Register Volume 82, Number 195 (Wednesday, October 11, 2017)]
[Notices]
[Pages 47206-47207]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-21859]


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FEDERAL RESERVE SYSTEM

[Docket No. OP-1570]


Proposed Guidance on Supervisory Expectations for Boards of 
Directors

AGENCY: Board of Governors of the Federal Reserve System (Board).

ACTION: Notice; extension of comment period.

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

SUMMARY: On August 9, 2017, the Board published in the Federal Register 
proposed guidance on supervisory expectations for boards of directors. 
To facilitate effective public comment on the proposed guidance, the 
Board has determined that an extension of the comment period until 
November 30, 2017, is appropriate. This action will allow interested 
persons additional time to analyze the proposal and prepare their 
comments.

DATES: Comments on the proposal must be received on or before November 
30, 2017.

ADDRESSES: You may submit comments by any of the methods identified in 
the proposal.\1\ Please submit your comments using only one method.
---------------------------------------------------------------------------

    \1\ See ``Proposed Guidance on Supervisory Expectation for 
Boards of Directors,'' 82 FR 37219 (August 9, 2017).

FOR FURTHER INFORMATION CONTACT: Michael Hsu, Associate Director, (202) 
912-4330, Michael Solomon, Associate Director, (202) 452-3502, Richard 
Naylor, Associate Director, (202) 728-5854, Division of Supervision and 
Regulation; Ben McDonough, Assistant General Counsel, (202) 452-2036, 
Scott Tkacz, Senior Counsel, (202) 452-2744, Keisha Patrick, Senior 
Counsel, (202) 452-3559, or Chris Callanan, Senior Attorney, (202) 452-
3594, Legal Division, Board of Governors of the Federal Reserve System, 
20th and C Streets NW., Washington, DC 20551. For the hearing impaired 
only, Telecommunications Device for the Deaf (TDD) users may contact 
---------------------------------------------------------------------------
(202) 263-4869.

SUPPLEMENTARY INFORMATION: On August 9, 2017, the Board published in 
the Federal Register proposed guidance on supervisory expectations for 
boards of directors of firms supervised by the Federal Reserve. The 
proposal addresses supervisory expectations for the boards of directors 
of bank holding companies, savings and loan holding companies, state 
member banks, U.S. branches and agencies of foreign banking 
organizations, and systemically important nonbank financial companies 
designated by the Financial Stability Oversight Council for supervision 
by the Federal Reserve. For the largest domestic bank and savings and 
loan holding companies and systemically important nonbank financial 
companies, the proposal would establish attributes of effective boards 
centered on the board's core responsibilities, which support safety and 
soundness, and would provide the framework with which the Federal 
Reserve would evaluate the effectiveness of a firm's boards of 
directors. For all domestic bank and savings and loan holding

[[Page 47207]]

companies, supervisory expectations for boards of directors contained 
in certain existing Federal Reserve Supervision and Regulation letters 
would be revised or eliminated to better distinguish a board's roles 
and responsibilities from those of senior management and allow boards 
to focus more of their time and resources on fulfilling their core 
responsibilities.
    In recognition of the range of issues addressed and the variety of 
considerations involved with implementing the proposal, the Board 
requested that commenters respond to a number of questions. The 
proposal stated that the comment period would close on October 10, 
2017.\2\
---------------------------------------------------------------------------

    \2\ Id.
---------------------------------------------------------------------------

    An extension of the comment period will facilitate public comment 
on the provisions of the proposal and the questions posed by the Board. 
Therefore, the Board is extending the end of the comment period for the 
proposal from October 10, 2017, to November 30, 2017.

    By order of the Board of Governors of the Federal Reserve 
System, acting through the Secretary of the Board under delegated 
authority, October 5, 2017.
Ann E. Misback,
Secretary of the Board.
[FR Doc. 2017-21859 Filed 10-10-17; 8:45 am]
 BILLING CODE P