Agency Information Collection Activities: Announcement of Board Approval Under Delegated Authority and Submission to OMB, 6850-6851 [2018-03148]

Download as PDF 6850 Federal Register / Vol. 83, No. 32 / Thursday, February 15, 2018 / Notices 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. 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. Final approval under OMB delegated authority of the extension for three years, without revision, of the following report: Report title: Disclosure Requirements Associated with CFPB’s Regulation DD (Truth in Savings Act (TISA)). Agency form number: FR DD. OMB control number: 7100–0271. Frequency: Monthly. Respondents: State member banks, branches and agencies of foreign banks (other than federal branches, federal agencies, and insured state branches of foreign banks), commercial lending companies owned or controlled by foreign banks, and organizations operating under section 25 or 25A of the Federal Reserve Act. Estimated number of respondents: 936. Estimated average hours per response: Account disclosures, 1 hour; Change in terms notices, 1.5 hours; Notices prior to maturity, 1.5 hours; Periodic statement disclosure, 8 hours; and Advertising, 30 minutes. Estimated annual burden hours: Account disclosures: 11,232 hours; Change in terms notices: 16,848 hours; Notices prior to maturity: 16,848 hours; Periodic statement disclosure: 89,856 hours; and Advertising: 5,616 hours. General description of report: TISA was contained in the Federal Deposit Insurance Corporation Improvement Act of 1991. The purpose of TISA and its implementing regulation is to assist consumers in comparing deposit accounts offered by institutions, principally through the disclosure of fees, the annual percentage yield (APY), and other account terms. TISA requires depository institutions to disclose key terms for deposit accounts at account sradovich on DSK3GMQ082PROD with NOTICES SUPPLEMENTARY INFORMATION: VerDate Sep<11>2014 19:01 Feb 14, 2018 Jkt 244001 opening, upon request, when certain changes in terms occur, and in periodic statements. It also includes rules about advertising for deposit accounts. TISA does not provide exemptions from compliance for small institutions. Legal authorization and confidentiality: The Board’s Legal Division has determined that section 269 of TISA specifically authorizes the CFPB ‘‘to prescribe regulations’’ to carry out the purposes and provisions of the Act, as well as to adopt model forms and clauses for common disclosures to facilitate compliance (12 U.S.C. 4308). FR DD implements this statutory provision (12 CFR part 1030). The Board’s imposition of the disclosure requirements on Board-supervised institutions is authorized by Section 270 of TISA, 12 U.S.C. 4309, and the provisions of Regulation DD (12 CFR 1030.1(a), 1030.2(j)). An institution’s disclosure obligations under Regulation DD are mandatory. The Board does not collect any information; therefore, no issue of confidentiality arises. Current actions: On November 22, 2017, the Board published a notice in the Federal Register (82 FR 55608) requesting public comment for 60 days on the extension, without revision, of the Disclosure Requirements Associated with CFPB’s Regulation DD (Truth in Savings Act (TISA)). The comment period for this notice expired on January 22, 2018. The Board did not receive any comments. Board of Governors of the Federal Reserve System, February 12, 2018. Ann E. Misback, Secretary of the Board. [FR Doc. 2018–03149 Filed 2–14–18; 8:45 am] BILLING CODE 6210–01–P FEDERAL RESERVE SYSTEM 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 part 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 inspection at the Federal Reserve Bank PO 00000 Frm 00017 Fmt 4703 Sfmt 4703 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 March 12, 2018. A. Federal Reserve Bank of Kansas City (Dennis Denney, Assistant Vice President) 1 Memorial Drive, Kansas City, Missouri 64198–0001: 1. FFP Group, Inc., and its newly formed merger subsidiary, FFP Merger Sub, Inc., both of Denver, Colorado; to become bank holding companies by acquiring Raton Capital Corporation, Raton, New Mexico and thereby acquire International Bank, Raton, New Mexico. Board of Governors of the Federal Reserve System, February 12, 2018. Ann Misback, Secretary of the Board. [FR Doc. 2018–03158 Filed 2–14–18; 8:45 am] BILLING CODE 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: The Board of Governors of the Federal Reserve System (Board) is adopting a proposal to extend for three years, without revision, the Recordkeeping and Disclosure Requirements Associated with Securities Transactions Pursuant to Regulation H (Reg H–3; OMB No. 7100– 0196). 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. AGENCY: E:\FR\FM\15FEN1.SGM 15FEN1 sradovich on DSK3GMQ082PROD with NOTICES Federal Register / Vol. 83, No. 32 / Thursday, February 15, 2018 / Notices 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. SUPPLEMENTARY INFORMATION: 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. 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 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. Final approval under OMB delegated authority of the extension for three years, without revision, of the following report: Report title: Recordkeeping and Disclosure Requirements Associated with Securities Transactions Pursuant to Regulation H. Agency form number: Reg H–3. OMB control number: 7100–0196. Frequency: Event-generated. Respondents: State member banks. Estimated number of respondents: State member banks (de novo): 1; state member banks with trust departments: 228; state member banks without trust departments: 601. Estimated average hours per response: State member banks (de novo): Recordkeeping, 40 hours. State member banks with trust departments: Recordkeeping, 2 hours; disclosure, 16 hours. State member banks without trust departments: Recordkeeping, 15 minutes; disclosure, 5 hours. Estimated annual burden hours: State member banks (de novo): Recordkeeping, 40 hours. State member banks with trust departments: Recordkeeping, 12,768 hours; disclosure, 43,776 hours. State member banks without trust departments: Recordkeeping, 4,207 hours; disclosure, 36,060 hours. General description of report: These recordkeeping and disclosure requirements are pursuant to Sections VerDate Sep<11>2014 19:01 Feb 14, 2018 Jkt 244001 208.34(c), (d), and (g) of the Board’s Regulation H, which require that state member banks effecting securities transactions for customers establish and maintain a system of records of these transactions, furnish confirmations of transactions to customers that disclose certain information, and establish written policies and procedures relating to securities trading. State member banks are required to maintain records created per these requirements for three years following a securities transaction. These requirements are necessary to protect the customer, to avoid or settle customer disputes, and to protect the institution against potential liability arising under the anti-fraud and insider trading provisions of the Securities Exchange Act of 1934 (‘‘Securities Exchange Act’’). Legal authorization and confidentiality: The Board has determined that the Regulation H requirements are authorized by Section 23 of the Securities Exchange Act, 15 U.S.C. 78w, which empowers the Board to make rules and regulations implementing those portions of the Securities Exchange Act for which it is responsible. The requirements of 12 CFR 208.34(c), (d), and (g) also are impliedly authorized by Section 9 of the Federal Reserve Act (12 U.S.C. 321– 328a), which establishes the Board’s supervisory authority with respect to the safety and soundness of state member banks. Accordingly, the Board is authorized to impose these recordkeeping, disclosure, and policy establishment requirements. The obligation of a state member bank to comply with the Regulation H requirements is mandatory, save for the limited exceptions set forth in 12 CFR 208.34(a). Inasmuch as the Board does not collect or receive any information concerning securities transactions pursuant to these requirements, no issues of confidentiality normally will arise. If, however, these records were to come into the possession of the Board, they may be protected from disclosure pursuant to exemption 4 of the Freedom of Information Act (‘‘FOIA’’), 5 U.S.C. 552(b)(4), under the standards set forth in National Parks & Conservation Ass’n v. Morton, 498 F.2d 765 (DC Cir. 1974), to the extent an institution can establish the potential for substantial competitive harm. They also may be subject to withholding under FOIA exemption 6, 5 U.S.C. 552(b)(6), should disclosure constitute an unwarranted invasion of personal privacy. Additionally, if such information were included in the work papers of System examiners or abstracted in System reports of PO 00000 Frm 00018 Fmt 4703 Sfmt 4703 6851 examination, the information also may be protected under exemption 8 of FOIA, 5 U.S.C. 552(b)(8). Any withholding determination would be made on a case-by-case basis in response to a specific request for disclosure of the information. Current actions: On November 27, 2017, the Board published a notice in the Federal Register (82 FR 56022) requesting public comment for 60 days on the extension, without revision, of the Recordkeeping and Disclosure Requirements Associated with Securities Transactions Pursuant to Regulation H (Reg H–3). The comment period for this notice expired on January 26, 2018. The Board did not receive any comments. Board of Governors of the Federal Reserve System, February 12, 2018. Ann E. Misback, Secretary of the Board. [FR Doc. 2018–03148 Filed 2–14–18; 8:45 am] BILLING CODE 6210–01–P FEDERAL RESERVE SYSTEM Change in Bank Control Notices; Acquisitions of Shares of a Bank or Bank Holding Company The notificants listed below have applied under the Change in Bank Control Act (12 U.S.C. 1817(j)) and § 225.41 of the Board’s Regulation Y (12 CFR 225.41) to acquire shares of a bank or bank holding company. The factors that are considered in acting on the notices are set forth in paragraph 7 of the Act (12 U.S.C. 1817(j)(7)). The notices are available for immediate inspection at the Federal Reserve Bank indicated. The notices also will be available for inspection at the offices of the Board of Governors. Interested persons may express their views in writing to the Reserve Bank indicated for that notice or to the offices of the Board of Governors. Comments must be received not later than March 6, 2018. A. Federal Reserve Bank of Atlanta (Kathryn Haney, Director of Applications) 1000 Peachtree Street NE, Atlanta, Georgia 30309. Comments can also be sent electronically to Applications.Comments@atl.frb.org: 1. Chirag J. Bhavsar, Orlando, Florida; James M. Seneff, Jr., Winter Springs, Florida; Rice Financial Holdings, LLC, Jacksonville, Florida; C. Daniel Rice, Jacksonville, Florida; Lee E. Hanna, Jacksonville, Florida; Heath Ritenour, Longwood, Florida; Valli Ritenour, Longwood, Florida; Insurance Office of American, Inc., Longwood, Florida; Nimesh Bhavsar, Orlando, Florida; E:\FR\FM\15FEN1.SGM 15FEN1

Agencies

[Federal Register Volume 83, Number 32 (Thursday, February 15, 2018)]
[Notices]
[Pages 6850-6851]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-03148]


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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: The Board of Governors of the Federal Reserve System (Board) 
is adopting a proposal to extend for three years, without revision, the 
Recordkeeping and Disclosure Requirements Associated with Securities 
Transactions Pursuant to Regulation H (Reg H-3; OMB No. 7100-0196).

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.

[[Page 6851]]

    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.

SUPPLEMENTARY INFORMATION: 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. 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 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.
    Final approval under OMB delegated authority of the extension for 
three years, without revision, of the following report:
    Report title: Recordkeeping and Disclosure Requirements Associated 
with Securities Transactions Pursuant to Regulation H.
    Agency form number: Reg H-3.
    OMB control number: 7100-0196.
    Frequency: Event-generated.
    Respondents: State member banks.
    Estimated number of respondents: State member banks (de novo): 1; 
state member banks with trust departments: 228; state member banks 
without trust departments: 601.
    Estimated average hours per response: State member banks (de novo): 
Recordkeeping, 40 hours. State member banks with trust departments: 
Recordkeeping, 2 hours; disclosure, 16 hours. State member banks 
without trust departments: Recordkeeping, 15 minutes; disclosure, 5 
hours.
    Estimated annual burden hours: State member banks (de novo): 
Recordkeeping, 40 hours. State member banks with trust departments: 
Recordkeeping, 12,768 hours; disclosure, 43,776 hours. State member 
banks without trust departments: Recordkeeping, 4,207 hours; 
disclosure, 36,060 hours.
    General description of report: These recordkeeping and disclosure 
requirements are pursuant to Sections 208.34(c), (d), and (g) of the 
Board's Regulation H, which require that state member banks effecting 
securities transactions for customers establish and maintain a system 
of records of these transactions, furnish confirmations of transactions 
to customers that disclose certain information, and establish written 
policies and procedures relating to securities trading. State member 
banks are required to maintain records created per these requirements 
for three years following a securities transaction. These requirements 
are necessary to protect the customer, to avoid or settle customer 
disputes, and to protect the institution against potential liability 
arising under the anti-fraud and insider trading provisions of the 
Securities Exchange Act of 1934 (``Securities Exchange Act'').
    Legal authorization and confidentiality: The Board has determined 
that the Regulation H requirements are authorized by Section 23 of the 
Securities Exchange Act, 15 U.S.C. 78w, which empowers the Board to 
make rules and regulations implementing those portions of the 
Securities Exchange Act for which it is responsible. The requirements 
of 12 CFR 208.34(c), (d), and (g) also are impliedly authorized by 
Section 9 of the Federal Reserve Act (12 U.S.C. 321-328a), which 
establishes the Board's supervisory authority with respect to the 
safety and soundness of state member banks. Accordingly, the Board is 
authorized to impose these recordkeeping, disclosure, and policy 
establishment requirements. The obligation of a state member bank to 
comply with the Regulation H requirements is mandatory, save for the 
limited exceptions set forth in 12 CFR 208.34(a).
    Inasmuch as the Board does not collect or receive any information 
concerning securities transactions pursuant to these requirements, no 
issues of confidentiality normally will arise. If, however, these 
records were to come into the possession of the Board, they may be 
protected from disclosure pursuant to exemption 4 of the Freedom of 
Information Act (``FOIA''), 5 U.S.C. 552(b)(4), under the standards set 
forth in National Parks & Conservation Ass'n v. Morton, 498 F.2d 765 
(DC Cir. 1974), to the extent an institution can establish the 
potential for substantial competitive harm. They also may be subject to 
withholding under FOIA exemption 6, 5 U.S.C. 552(b)(6), should 
disclosure constitute an unwarranted invasion of personal privacy. 
Additionally, if such information were included in the work papers of 
System examiners or abstracted in System reports of examination, the 
information also may be protected under exemption 8 of FOIA, 5 U.S.C. 
552(b)(8). Any withholding determination would be made on a case-by-
case basis in response to a specific request for disclosure of the 
information.
    Current actions: On November 27, 2017, the Board published a notice 
in the Federal Register (82 FR 56022) requesting public comment for 60 
days on the extension, without revision, of the Recordkeeping and 
Disclosure Requirements Associated with Securities Transactions 
Pursuant to Regulation H (Reg H-3). The comment period for this notice 
expired on January 26, 2018. The Board did not receive any comments.

    Board of Governors of the Federal Reserve System, February 12, 
2018.
Ann E. Misback,
Secretary of the Board.
[FR Doc. 2018-03148 Filed 2-14-18; 8:45 am]
BILLING CODE 6210-01-P
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