Regulation Q; Regulatory Capital Rules: Risk-Based Capital Surcharges for Global Systemically Important Bank Holding Companies, 60014-60015 [2017-27161]

Download as PDF 60014 Federal Register / Vol. 82, No. 241 / Monday, December 18, 2017 / Notices Federal Deposit Insurance Corporation. Robert E. Feldman, Executive Secretary. [FR Doc. 2017–27158 Filed 12–15–17; 8:45 am] BILLING CODE 6714–01–P FEDERAL MARITIME COMMISSION [Petition No. P4–17] daltland on DSKBBV9HB2PROD with NOTICES Petition of SM Line Corporation for an Exemption; Notice of Filing and Request for Comments Notice is hereby given that SM Line Corporation (‘‘Petitioner’’), has petitioned the Commission pursuant to 46 CFR 502.92, 502.94, and 530.13(b) for an exemption from the individual service contract amendments provision of 46 CFR 530.10. Petitioner states that it will soon merge with another Korean affiliated corporation, Woobang E&C, and that the ‘‘merger will include about 769 service contracts.’’ The Petitioner speculates the merger will occur ‘‘on or about January 12, 2018 . . .’’ Petitioner states that both itself and Woobang E&C will be ‘‘. . . jointly and severally liable, so the current corporation guarantees the performance of the new corporation, including its service contracts.’’ Petitioner claims ‘‘[it] would be an undue burden on [itself] and its shipper customers to identify those contracts not assignable by notice and to prepare, sign and file many individual amendments.’’ Petitioner claims ‘‘there will be no reduction in competition, and the relief will promote commerce by permitting the orderly servicing of these service contracts.’’ In order for the Commission to make a thorough evaluation of the exemption requested in the Petition, pursuant to 46 CFR 502.92, 502.94, and 530.13(b), interested parties are requested to submit views or arguments in reply to the Petition no later than January 2, 2018. Replies shall be sent to the Secretary by email to Secretary@fmc.gov or by mail to Federal Maritime Commission, 800 North Capitol Street NW, Washington, DC 20573–0001, and replies shall be served on Petitioners’ counsels, Robert B. Yoshitomi, NIXON PEABODY LLP, 799 Ninth Street NW, Ste. 500, Washington, DC 20001, ryoshitomi@nixonpeabody.com, and Eric C. Jeffrey, NIXON PEABODY LLP, 799 Ninth Street NW, Ste. 500, Washington, DC 20001, ejeffrey@ nixonpeabody.com. Non-confidential filings may be submitted in hard copy to the Secretary at the above address or by email as a PDF attachment to Secretary@fmc.gov VerDate Sep<11>2014 17:53 Dec 15, 2017 Jkt 244001 and include in the subject line: P4–17 (Commenter/Company). Confidential filings should not be filed by email. A confidential filing must be filed with the Secretary in hard copy only, and be accompanied by a transmittal letter that identifies the filing as ‘‘ConfidentialRestricted’’ and describes the nature and extent of the confidential treatment requested. The Commission will provide confidential treatment to the extent allowed by law for confidential submissions, or parts of submissions, for which confidentiality has been requested. When a confidential filing is submitted, there must also be submitted a public version of the filing. Such public filing version shall exclude confidential materials, and shall indicate on the cover page and on each affected page ‘‘Confidential materials excluded.’’ Public versions of confidential filings may be submitted by email. The Petition will be posted on the Commission’s website at http:// www.fmc.gov/P4-17. Replies filed in response to the Petition will also be posted on the Commission’s website at this location. Rachel E. Dickon, Assistant Secretary. [FR Doc. 2017–27135 Filed 12–15–17; 8:45 am] BILLING CODE 6731–AA–P FEDERAL RESERVE SYSTEM [Docket No. R–1584] RIN 7100 AE 89 Regulation Q; Regulatory Capital Rules: Risk-Based Capital Surcharges for Global Systemically Important Bank Holding Companies Board of Governors of the Federal Reserve System (Board). ACTION: Notice. AGENCY: The Board is providing notice of the aggregate global indicator amounts for purposes of a calculation for 2017, which is required under the Board’s rule regarding risk-based capital surcharges for global systemically important bank holding companies (GSIB surcharge rule). DATES: Applicable: December 18, 2017. FOR FURTHER INFORMATION CONTACT: Elizabeth MacDonald, Manager, (202) 475–6316, or Holly Kirkpatrick, Supervisory Financial Analyst, (202) 452–2796, Division of Supervision and Regulation; or Mark Buresh, Senior Attorney, (202) 452–5270, or Mary Watkins, Attorney, (202) 452–3722, Legal Division. Board of Governors of the Federal Reserve System, 20th and C SUMMARY: PO 00000 Frm 00015 Fmt 4703 Sfmt 4703 Streets NW, Washington, DC 20551. For the hearing impaired only, Telecommunications Device for the Deaf (TDD) users may contact (202) 263– 4869. SUPPLEMENTARY INFORMATION: The Board’s GSIB surcharge rule establishes a methodology to identify global systemically important bank holding companies in the United States (GSIBs) based on indicators that are correlated with systemic importance.1 Under the GSIB surcharge rule, a firm must calculate its GSIB score using a specific formula (Method 1). Method 1 uses five equally weighted categories that are correlated with systemic importance— size, interconnectedness, crossjurisdictional activity, substitutability, and complexity—and subdivided into twelve systemic indicators. For each indicator, a firm divides its own measure of each systemic indicator by an aggregate global indicator amount. The firm’s Method 1 score is the sum of its weighted systemic indicator scores expressed in basis points. The GSIB surcharge for the firm is then the higher of the GSIB surcharge determined under Method 1 and a second method that weights size, interconnectedness, crossjurisdictional activity, complexity, and a measure of a firm’s reliance on wholesale funding (instead of substitutability).2 The aggregate global indicator amounts used in the score calculation under Method 1 are based on data collected by the Basel Committee on Banking Supervision (BCBS). The BCBS amounts are determined based on the sum of the systemic indicator scores of the 75 largest U.S. and foreign banking organizations as measured by the BCBS, and any other banking organization that the BCBS includes in its sample total for that year. The BCBS publicly releases these values, denominated in euros, each year. Pursuant to the GSIB surcharge rule, the Board publishes the aggregate global indicator amounts each year as denominated in U.S. dollars using the euro-dollar exchange rate provided by the BCBS.3 Specifically, the Board multiplied each of the eurodenominated indicator amounts made publicly available by the BCBS by 1 See 12 CFR 217.402, 217.404. second method (Method 2) uses similar inputs to those used in Method 1, but replaces the substitutability category with a measure of a firm’s use of short-term wholesale funding. In addition, Method 2 is calibrated differently from Method 1. 3 12 CFR 217.404(b)(1)(i)(B); 80 FR 49082, 49086– 87 (August 14, 2015). In addition, the Board maintains the GSIB Framework Denominators on its website, available at https:// www.federalreserve.gov/bankinforeg/basel/ denominators.htm. 2 The E:\FR\FM\18DEN1.SGM 18DEN1 60015 Federal Register / Vol. 82, No. 241 / Monday, December 18, 2017 / Notices 1.0541, which was the daily euro to U.S. dollar spot rate on December 30, 2016, as published by the European Central Bank (available at http:// www.ecb.europa.eu/stats/eurofxref/ index.en.html). The aggregate global indicator amounts for purposes of the 2017 Method 1 score calculation under § 217.404(b)(1)(i)(B) of the GSIB surcharge rule are: AGGREGATE GLOBAL INDICATOR AMOUNTS IN U.S. DOLLARS (USD) FOR 2017 Aggregate global indicator amount (in USD) Category Systemic indicator Size ................................................... Interconnectedness .......................... Total exposures .......................................................................................... Intra-financial system assets ...................................................................... Intra-financial system liabilities ................................................................... Securities outstanding ................................................................................ Payments activity ........................................................................................ Assets under custody ................................................................................. Underwritten transactions in debt and equity markets ............................... Notional amount of over-the-counter (OTC) derivatives ............................ Trading and available-for-sale (AFS) securities ......................................... Level 3 assets ............................................................................................ Cross-jurisdictional claims .......................................................................... Cross-jurisdictional liabilities ....................................................................... Substitutability .................................. Complexity ........................................ Cross-jurisdictional activity ............... Authority: 12 U.S.C. 248(a), 321–338a, 481–486, 1462a, 1467a, 1818, 1828, 1831n, 1831o, 1831p–l, 1831w, 1835, 1844(b), 1851, 3904, 3906–3909, 4808, 5365, 5368, 5371. By order of the Board of Governors of the Federal Reserve System, acting through the Director of the Division of Supervision and Regulation under delegated authority. Ann E. Misback, Secretary of the Board. [FR Doc. 2017–27161 Filed 12–15–17; 8:45 am] BILLING CODE 6210–01–P FEDERAL RESERVE SYSTEM daltland on DSKBBV9HB2PROD 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 January 5, 2018. 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: VerDate Sep<11>2014 17:53 Dec 15, 2017 Jkt 244001 1. The Bruey Family Control Group, consisting of Paul and Marjorie Bruey, Yorkshire, Ohio; Barbara and Roger Kremer, Celina, Ohio; Beatrice and Delbert Balster, Tipp City, Ohio; Beverly and Dennis Balster, Vandalia, Ohio; Bridget and John Anthony, Cincinnati, Ohio; Elizabeth and Robert Poeppelman, Osgood, Ohio; and Eric Eyink, Maria Stein, Ohio: to retain voting shares of OSB Bancorp, Inc., and thereby indirectly retain shares of Osgood State Bank, both of Osgood, Ohio. B. Federal Reserve Bank of Kansas City (Dennis Denney, Assistant Vice President) 1 Memorial Drive, Kansas City, Missouri 64198–0001: 1. Allison M. Grace, Wichita, Kansas, and the Allison M. Grace Trust Agreement dated April 7, 2005; to acquire voting shares of Andover Financial Corporation, Andover, Kansas, and thereby indirectly acquire shares of Andover State Bank, Andover, Kansas. 2. Kathy Fowler, Memphis, Texas; to retain voting shares of First Altus Bancorp, Inc., and thereby retain shares of Frazer Bank, both of Altus, Oklahoma. Board of Governors of the Federal Reserve System, December 13, 2017. Ann E. Misback, Secretary of the Board. [FR Doc. 2017–27184 Filed 12–15–17; 8:45 am] BILLING CODE P PO 00000 Frm 00016 Fmt 4703 Sfmt 4703 $80,007,062,645,840 8,257,981,060,346 9,326,026,596,609 14,058,608,335,249 2,273,665,800,113,670 147,506,550,618,745 6,323,673,403,888 559,101,108,830,245 3,628,156,457,081 528,537,101,614 19,688,183,709,288 17,261,218,426,372 FEDERAL TRADE COMMISSION Agency Information Collection Activities; Submission for OMB Review; 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 is seeking public comments on its proposal to extend for an additional three years its OMB clearance for the information collection requirements contained in the Commission’s Business Opportunity Rule (‘‘Rule’’). That clearance expires on January 31, 2018. DATES: Comments must be submitted on or before January 17, 2018. ADDRESSES: Interested parties may file a comment online or on paper, by following the instructions in the Request for Comment part of the SUPPLEMENTARY INFORMATION section below. Write ‘‘Business Opportunity Rule Paperwork Comment, FTC File No. P114408’’ on your comment, and file your comment online at https:// ftcpublic.commentworks.com/ftc/ BusinessOptionRulePRA2 by following the instructions on the web-based form. If you prefer to file your comment on paper, mail your comment to the following address: Federal Trade Commission, Office of the Secretary, 600 Pennsylvania Avenue NW, Suite CC–5610 (Annex J), Washington, DC 20580, or deliver your comment to the following address: Federal Trade SUMMARY: E:\FR\FM\18DEN1.SGM 18DEN1

Agencies

[Federal Register Volume 82, Number 241 (Monday, December 18, 2017)]
[Notices]
[Pages 60014-60015]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-27161]


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FEDERAL RESERVE SYSTEM

[Docket No. R-1584]
RIN 7100 AE 89


Regulation Q; Regulatory Capital Rules: Risk-Based Capital 
Surcharges for Global Systemically Important Bank Holding Companies

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

ACTION: Notice.

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SUMMARY: The Board is providing notice of the aggregate global 
indicator amounts for purposes of a calculation for 2017, which is 
required under the Board's rule regarding risk-based capital surcharges 
for global systemically important bank holding companies (GSIB 
surcharge rule).

DATES: Applicable: December 18, 2017.

FOR FURTHER INFORMATION CONTACT: Elizabeth MacDonald, Manager, (202) 
475-6316, or Holly Kirkpatrick, Supervisory Financial Analyst, (202) 
452-2796, Division of Supervision and Regulation; or Mark Buresh, 
Senior Attorney, (202) 452-5270, or Mary Watkins, Attorney, (202) 452-
3722, 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: The Board's GSIB surcharge rule establishes 
a methodology to identify global systemically important bank holding 
companies in the United States (GSIBs) based on indicators that are 
correlated with systemic importance.\1\ Under the GSIB surcharge rule, 
a firm must calculate its GSIB score using a specific formula (Method 
1). Method 1 uses five equally weighted categories that are correlated 
with systemic importance--size, interconnectedness, cross-
jurisdictional activity, substitutability, and complexity--and 
subdivided into twelve systemic indicators. For each indicator, a firm 
divides its own measure of each systemic indicator by an aggregate 
global indicator amount. The firm's Method 1 score is the sum of its 
weighted systemic indicator scores expressed in basis points. The GSIB 
surcharge for the firm is then the higher of the GSIB surcharge 
determined under Method 1 and a second method that weights size, 
interconnectedness, cross-jurisdictional activity, complexity, and a 
measure of a firm's reliance on wholesale funding (instead of 
substitutability).\2\
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    \1\ See 12 CFR 217.402, 217.404.
    \2\ The second method (Method 2) uses similar inputs to those 
used in Method 1, but replaces the substitutability category with a 
measure of a firm's use of short-term wholesale funding. In 
addition, Method 2 is calibrated differently from Method 1.
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    The aggregate global indicator amounts used in the score 
calculation under Method 1 are based on data collected by the Basel 
Committee on Banking Supervision (BCBS). The BCBS amounts are 
determined based on the sum of the systemic indicator scores of the 75 
largest U.S. and foreign banking organizations as measured by the BCBS, 
and any other banking organization that the BCBS includes in its sample 
total for that year. The BCBS publicly releases these values, 
denominated in euros, each year. Pursuant to the GSIB surcharge rule, 
the Board publishes the aggregate global indicator amounts each year as 
denominated in U.S. dollars using the euro-dollar exchange rate 
provided by the BCBS.\3\ Specifically, the Board multiplied each of the 
euro-denominated indicator amounts made publicly available by the BCBS 
by

[[Page 60015]]

1.0541, which was the daily euro to U.S. dollar spot rate on December 
30, 2016, as published by the European Central Bank (available at 
http://www.ecb.europa.eu/stats/eurofxref/index.en.html).
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    \3\ 12 CFR 217.404(b)(1)(i)(B); 80 FR 49082, 49086-87 (August 
14, 2015). In addition, the Board maintains the GSIB Framework 
Denominators on its website, available at https://www.federalreserve.gov/bankinforeg/basel/denominators.htm.
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    The aggregate global indicator amounts for purposes of the 2017 
Method 1 score calculation under Sec.  217.404(b)(1)(i)(B) of the GSIB 
surcharge rule are:

                        Aggregate Global Indicator Amounts in U.S. Dollars (USD) for 2017
----------------------------------------------------------------------------------------------------------------
                                                                                     Aggregate global indicator
                    Category                             Systemic indicator                amount (in USD)
----------------------------------------------------------------------------------------------------------------
Size...........................................  Total exposures..................           $80,007,062,645,840
Interconnectedness.............................  Intra-financial system assets....             8,257,981,060,346
                                                 Intra-financial system                        9,326,026,596,609
                                                  liabilities.
                                                 Securities outstanding...........            14,058,608,335,249
Substitutability...............................  Payments activity................         2,273,665,800,113,670
                                                 Assets under custody.............           147,506,550,618,745
                                                 Underwritten transactions in debt             6,323,673,403,888
                                                  and equity markets.
Complexity.....................................  Notional amount of over-the-                559,101,108,830,245
                                                  counter (OTC) derivatives.
                                                 Trading and available-for-sale                3,628,156,457,081
                                                  (AFS) securities.
                                                 Level 3 assets...................               528,537,101,614
Cross-jurisdictional activity..................  Cross-jurisdictional claims......            19,688,183,709,288
                                                 Cross-jurisdictional liabilities.            17,261,218,426,372
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    Authority:  12 U.S.C. 248(a), 321-338a, 481-486, 1462a, 1467a, 
1818, 1828, 1831n, 1831o, 1831p-l, 1831w, 1835, 1844(b), 1851, 3904, 
3906-3909, 4808, 5365, 5368, 5371.

    By order of the Board of Governors of the Federal Reserve 
System, acting through the Director of the Division of Supervision 
and Regulation under delegated authority.
Ann E. Misback,
Secretary of the Board.
[FR Doc. 2017-27161 Filed 12-15-17; 8:45 am]
 BILLING CODE 6210-01-P