Agency Information Collection Activities: Announcement of Board Approval Under Delegated Authority, 46162-46163 [2018-19676]

Download as PDF 46162 Federal Register / Vol. 83, No. 177 / Wednesday, September 12, 2018 / Notices FEDERAL RESERVE SYSTEM Agency Information Collection Activities: Announcement of Board Approval Under Delegated Authority Board of Governors of the Federal Reserve System. SUMMARY: Notice is hereby given of temporary approval of revisions to the mandatory Consolidated Financial Statements for Holding Companies (FR Y–9C; OMB No. 7100–0128) by the Board of Governors of the Federal Reserve System (Board) pursuant to the authority delegated to the Board by the Office of Management and Budget (OMB), per OMB Regulations on Controlling Paperwork Burdens on the Public. The temporary approval is valid until March 31, 2019. DATES: The revisions are applicable as of June 30, 2018. FOR FURTHER INFORMATION CONTACT: Federal Reserve Board Clearance Officer—Nuha Elmaghrabi—Office of the Chief Data Officer, Board of Governors of the Federal Reserve System, Washington, DC 20551, (202) 452–3829. Telecommunications Device for the Deaf (TDD) users may contact (202) 263–4869, Board of Governors of the Federal Reserve System, Washington, DC 20551. OMB Desk Officer—Shagufta Ahmed—Office of Information and Regulatory Affairs, Office of Management and Budget, New Executive Office Building, Room 10235, 725 17th Street NW, Washington, DC 20503 or by fax to (202) 395–6974. SUPPLEMENTARY INFORMATION: On June 15, 1984, the OMB delegated to the Board authority under the Paperwork Reduction Act (PRA) to temporarily approve a revision to a collection of information without providing opportunity for public comment if the Board determines that a change in an existing collection must be instituted quickly and that public participation in the approval process would defeat the purpose of the collection or substantially interfere with the Board’s ability to perform its statutory obligation. The Board’s delegated authority requires that the Board, after temporarily approving a collection, publish a notice soliciting public comment. The Board will publish a notice in the future inviting comment on these actions. Final approval under OMB delegated authority of the temporary revision of the following reports: Report title: Consolidated Financial Statements for Holding Companies. daltland on DSKBBV9HB2PROD with NOTICES AGENCY: VerDate Sep<11>2014 18:41 Sep 11, 2018 Jkt 244001 Agency form number: FR Y–9C, FR Y–9LP, FR Y–9SP, FR Y–9ES, and FR Y–9CS. OMB control number: 7100–0128. Effective Date: June 30, 2018. Frequency: Quarterly and semiannually. Respondents: Bank holding companies, savings and loan holding companies, securities holding companies, and U.S. intermediate holding companies (collectively, holding companies (HCs)). Estimated number of respondents: FR Y–9C (non-advanced approaches holding companies): 638; FR Y–9C (advanced approaches holding companies): 18; FR Y–9LP: 775; FR Y–9SP: 3,837 FR Y–9ES: 82; FR Y–9CS: 236. Estimated average hours per response: FR Y–9C (non-advanced approaches holding companies): 46.29 hours; FR Y–9C (advanced approaches holding companies HCs): 47.54 hours; FR Y–9LP: 5.27 hours; FR Y–9SP: 5.40 hours; FR Y–9ES: 0.50 hours; FR Y–9CS: 0.50 hours. Estimated annual burden hours: FR Y–9C (non-advanced approaches holding companies): 118,132 hours; FR Y–9C (advanced approaches holding companies): 3,423 hours; FR Y–9LP: 16,337 hours; FR Y–9SP: 41,440 hours; FR Y–9ES: 41 hours; FR Y–9CS: 472 hours. General description of report: The FR Y–9 family of reporting forms continues to be the primary source of financial data on HCs that examiners rely on between on-site inspections. Financial data from these reporting forms is used to detect emerging financial problems, review performance, conduct preinspection analysis, monitor and evaluate capital adequacy, evaluate HC mergers and acquisitions, and analyze an HC’s overall financial condition to ensure the safety and soundness of its operations. The FR Y–9C, FR Y–9LP, and FR Y–9SP serve as standardized financial statements for the consolidated holding company. The Board requires HCs to provide standardized financial statements to fulfill the Board’s statutory obligation to supervise these organizations. The FR Y–9ES is a financial statement for HCs that are Employee Stock Ownership Plans. The Board uses the FR Y–9CS (a free-form supplement) to collect additional information deemed to be critical and needed in an expedited manner. HCs file the FRY–9C on a quarterly basis, the FR Y–9LP quarterly, the FR Y–9SP semiannually, the FR Y–9ES annually, and the FR Y–9CS on a schedule that is determined when this supplement is used. PO 00000 Frm 00027 Fmt 4703 Sfmt 4703 Legal Authorization and confidentiality: The FR Y–9 family of reports is authorized by section 5(c) of the Bank Holding Company Act (12 U.S.C. 1844(c)), section 10 of Home Owners’ Loan Act (12 U.S.C. 1467a(b)) and section 618 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) (12 U.S.C. 1850a(c)(1)), and section 165 of the Dodd-Frank Act (12 U.S.C. 5365). The obligation of covered institutions to report this information is mandatory. With respect to FR Y–9LP, FR Y–9SP, FR Y–ES, and FR Y–9CS, the information collected would generally not be accorded confidential treatment. If confidential treatment is requested by a respondent, the Board will review the request to determine if confidential treatment is appropriate. With respect to FR Y–9C, Schedule HI’s item 7(g) ‘‘FDIC deposit insurance assessments,’’ Schedule HC–P’s item 7(a) ‘‘Representation and warranty reserves for 1–4 family residential mortgage loans sold to U.S. government agencies and government sponsored agencies,’’ and Schedule HC–P’s item 7(b) ‘‘Representation and warranty reserves for 1–4 family residential mortgage loans sold to other parties’’ are considered confidential. Such treatment is appropriate because the data is not publicly available and the public release of this data is likely to impair the Board’s ability to collect necessary information in the future and could cause substantial harm to the competitive position of the respondent. Thus, this information may be kept confidential under exemptions (b)(4) of the Freedom of Information Act, which exempts from disclosure ‘‘trade secrets and commercial or financial information obtained from a person and privileged or confidential’’ (5 U.S.C. 552(b)(4)), and (b)(8) of the Freedom of Information Act, which exempts from disclosure information 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)(8)). Current Actions: The Economic Growth, Regulatory Relief, and Consumer Protection Action (EGRRCPA), enacted on May 24, 2018, amended various provisions of banking law to eliminate or reduce statutory and regulatory requirements on certain banking organizations. EGRRCPA, among other things, provides that state member banks and other depository institutions may only be required to assign a heightened risk weight to a ‘‘high volatility commercial real estate’’ (HVCRE) exposure if such exposure is E:\FR\FM\12SEN1.SGM 12SEN1 Federal Register / Vol. 83, No. 177 / Wednesday, September 12, 2018 / Notices an ‘‘HVCRE ADC Loan,’’ as defined in section 214 of EGRRCPA. Section 202 of EGRRCPA also amended the statutory definition of ‘‘brokered deposits.’’ The current instructions for reporting HVCRE and brokered deposits in the FR Y–9C are inconsistent with these provisions of EGRRCPA. In order to avoid the regulatory burden associated with different definitions for HVCRE exposures and brokered deposits within a single organization, the Board has amended the FR Y–9C instructions to permit bank holding companies, savings and loan holding companies, and intermediate holding companies of foreign banks to report HVCRE and brokered deposits on the FR Y–9C report in a manner consistent with their subsidiary depository institution(s). In order for the FR Y–9C to reflect sections 202 and 214 of EGRRCPA, which became effective immediately when EGRRCPA was signed on May 24, 2018, the Board cannot comply with the normal clearance process and still receive the June 30, 2018, financial data in a timely manner. Therefore, the Board has determined that the revisions to the FR Y–9C described above must be instituted quickly and public participation in the approval process would substantially interfere with the Board’s ability to perform its statutory obligations arising from EGRRCPA. Board of Governors of the Federal Reserve System, September 7, 2018. Yao-Chin Chao, Assistant Secretary of the Board. [FR Doc. 2018–19826 Filed 9–11–18; 8:45 am] BILLING CODE 6210–01–P FEDERAL RESERVE SYSTEM Board of Governors of the Federal Reserve System, September 6, 2018. Michele Taylor Fennell, Assistant Secretary of the Board. Agency Information Collection Activities: Announcement of Board Approval Under Delegated Authority [FR Doc. 2018–19676 Filed 9–11–18; 8:45 am] AGENCY: BILLING CODE 6210–01–P FEDERAL RESERVE SYSTEM Formations of, Acquisitions by, and Mergers of Bank Holding Companies daltland on DSKBBV9HB2PROD with NOTICES 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 October 8, 2018. A. Federal Reserve Bank of Dallas (Robert L. Triplett III, Senior Vice President) 2200 North Pearl Street, Dallas, Texas 75201–2272: 1. Veritex Holdings, Inc., Dallas, Texas; to acquire Green Bancorp, Inc., and thereby indirectly acquire Green Bank, National Association, both of Houston, Texas. 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 indicated. The applications will also be available for inspection at the offices of VerDate Sep<11>2014 18:41 Sep 11, 2018 Jkt 244001 Board of Governors of the Federal Reserve System. SUMMARY: Notice is hereby given of temporary approval of revisions to the mandatory Complex Institution Liquidity Monitoring Report (FR 2052a; OMB No. 7100–0361) by the Board of Governors of the Federal Reserve System (Board) pursuant to the authority delegated to the Board by the Office of Management and Budget (OMB), per OMB Regulations on Controlling Paperwork Burdens on the Public. The temporary approval is valid until March 31, 2019. DATES: The revisions are applicable as of June 30, 2018. 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. PO 00000 Frm 00028 Fmt 4703 Sfmt 4703 46163 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, OMB delegated to the Board authority under the Paperwork Reduction Act (PRA) to temporarily approve a revision to a collection of information without providing opportunity for public comment if the Board determines that a change in an existing collection must be instituted quickly and that public participation in the approval process would defeat the purpose of the collection or substantially interfere with the Board’s ability to perform its statutory obligation. The Board’s delegated authority requires that the Board, after temporarily approving a collection, publish a notice soliciting public comment. The Board will publish a notice in the future inviting comment on these actions. Final approval under OMB delegated authority of the temporary revision of the following report: Report title: Complex Institution Liquidity Monitoring Report. Agency form number: FR 2052a. OMB control number: 7100–0361. Effective Date: June 30, 2018. Frequency: Monthly, and each business day (daily). Respondents: U.S. bank holding companies (BHCs), U.S. savings and loan holding companies (SLHCs), and foreign banking organizations (FBOs) with U.S. assets. Estimated number of respondents: Monthly, 40; Daily, 12. Estimated average hours per response: Monthly, 120; Daily, 220. Estimated annual burden hours: 717,600. General description of report: The FR 2052a is used to monitor the overall liquidity profile of institutions supervised by the Board. These data provide detailed information on the liquidity risks within different business lines (e.g., financing of securities positions, prime brokerage activities). In particular, these data serve as part of the Board’s supervisory surveillance program in its liquidity risk management area and provide timely information on firm-specific liquidity risks during periods of stress. Analyses of systemic and idiosyncratic liquidity risk issues are then used to inform the Board’s supervisory processes, including the preparation of analytical E:\FR\FM\12SEN1.SGM 12SEN1

Agencies

[Federal Register Volume 83, Number 177 (Wednesday, September 12, 2018)]
[Notices]
[Pages 46162-46163]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-19676]



[[Page 46162]]

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FEDERAL RESERVE SYSTEM


Agency Information Collection Activities: Announcement of Board 
Approval Under Delegated Authority

AGENCY: Board of Governors of the Federal Reserve System.
SUMMARY: Notice is hereby given of temporary approval of revisions to 
the mandatory Consolidated Financial Statements for Holding Companies 
(FR Y-9C; OMB No. 7100-0128) by the Board of Governors of the Federal 
Reserve System (Board) pursuant to the authority delegated to the Board 
by the Office of Management and Budget (OMB), per OMB Regulations on 
Controlling Paperwork Burdens on the Public. The temporary approval is 
valid until March 31, 2019.

DATES: The revisions are applicable as of June 30, 2018.

FOR FURTHER INFORMATION CONTACT: 
    Federal Reserve Board Clearance Officer--Nuha Elmaghrabi--Office of 
the Chief Data Officer, Board of Governors of the Federal Reserve 
System, Washington, DC 20551, (202) 452-3829. Telecommunications Device 
for the Deaf (TDD) users may contact (202) 263-4869, Board of Governors 
of the Federal Reserve System, Washington, DC 20551.
    OMB Desk Officer--Shagufta Ahmed--Office of Information and 
Regulatory Affairs, Office of Management and Budget, New Executive 
Office Building, Room 10235, 725 17th Street NW, Washington, DC 20503 
or by fax to (202) 395-6974.

SUPPLEMENTARY INFORMATION: On June 15, 1984, the OMB delegated to the 
Board authority under the Paperwork Reduction Act (PRA) to temporarily 
approve a revision to a collection of information without providing 
opportunity for public comment if the Board determines that a change in 
an existing collection must be instituted quickly and that public 
participation in the approval process would defeat the purpose of the 
collection or substantially interfere with the Board's ability to 
perform its statutory obligation.
    The Board's delegated authority requires that the Board, after 
temporarily approving a collection, publish a notice soliciting public 
comment. The Board will publish a notice in the future inviting comment 
on these actions.
    Final approval under OMB delegated authority of the temporary 
revision of the following reports:
    Report title: Consolidated Financial Statements for Holding 
Companies.
    Agency form number: FR Y-9C, FR Y-9LP, FR Y-9SP, FR Y-9ES, and FR 
Y-9CS.
    OMB control number: 7100-0128.
    Effective Date: June 30, 2018.
    Frequency: Quarterly and semiannually.
    Respondents: Bank holding companies, savings and loan holding 
companies, securities holding companies, and U.S. intermediate holding 
companies (collectively, holding companies (HCs)).
    Estimated number of respondents: FR Y-9C (non-advanced approaches 
holding companies): 638; FR Y-9C (advanced approaches holding 
companies): 18; FR Y-9LP: 775; FR Y-9SP: 3,837 FR Y-9ES: 82; FR Y-9CS: 
236.
    Estimated average hours per response: FR Y-9C (non-advanced 
approaches holding companies): 46.29 hours; FR Y-9C (advanced 
approaches holding companies HCs): 47.54 hours; FR Y-9LP: 5.27 hours; 
FR Y-9SP: 5.40 hours; FR Y-9ES: 0.50 hours; FR Y-9CS: 0.50 hours.
    Estimated annual burden hours: FR Y-9C (non-advanced approaches 
holding companies): 118,132 hours; FR Y-9C (advanced approaches holding 
companies): 3,423 hours; FR Y-9LP: 16,337 hours; FR Y-9SP: 41,440 
hours; FR Y-9ES: 41 hours; FR Y-9CS: 472 hours.
    General description of report: The FR Y-9 family of reporting forms 
continues to be the primary source of financial data on HCs that 
examiners rely on between on-site inspections. Financial data from 
these reporting forms is used to detect emerging financial problems, 
review performance, conduct pre-inspection analysis, monitor and 
evaluate capital adequacy, evaluate HC mergers and acquisitions, and 
analyze an HC's overall financial condition to ensure the safety and 
soundness of its operations. The FR Y-9C, FR Y-9LP, and FR Y-9SP serve 
as standardized financial statements for the consolidated holding 
company. The Board requires HCs to provide standardized financial 
statements to fulfill the Board's statutory obligation to supervise 
these organizations. The FR Y-9ES is a financial statement for HCs that 
are Employee Stock Ownership Plans. The Board uses the FR Y-9CS (a 
free-form supplement) to collect additional information deemed to be 
critical and needed in an expedited manner. HCs file the FRY-9C on a 
quarterly basis, the FR Y-9LP quarterly, the FR Y-9SP semiannually, the 
FR Y-9ES annually, and the FR Y-9CS on a schedule that is determined 
when this supplement is used.
    Legal Authorization and confidentiality: The FR Y-9 family of 
reports is authorized by section 5(c) of the Bank Holding Company Act 
(12 U.S.C. 1844(c)), section 10 of Home Owners' Loan Act (12 U.S.C. 
1467a(b)) and section 618 of the Dodd-Frank Wall Street Reform and 
Consumer Protection Act (Dodd-Frank Act) (12 U.S.C. 1850a(c)(1)), and 
section 165 of the Dodd-Frank Act (12 U.S.C. 5365). The obligation of 
covered institutions to report this information is mandatory.
    With respect to FR Y-9LP, FR Y-9SP, FR Y-ES, and FR Y-9CS, the 
information collected would generally not be accorded confidential 
treatment. If confidential treatment is requested by a respondent, the 
Board will review the request to determine if confidential treatment is 
appropriate.
    With respect to FR Y-9C, Schedule HI's item 7(g) ``FDIC deposit 
insurance assessments,'' Schedule HC-P's item 7(a) ``Representation and 
warranty reserves for 1-4 family residential mortgage loans sold to 
U.S. government agencies and government sponsored agencies,'' and 
Schedule HC-P's item 7(b) ``Representation and warranty reserves for 1-
4 family residential mortgage loans sold to other parties'' are 
considered confidential. Such treatment is appropriate because the data 
is not publicly available and the public release of this data is likely 
to impair the Board's ability to collect necessary information in the 
future and could cause substantial harm to the competitive position of 
the respondent. Thus, this information may be kept confidential under 
exemptions (b)(4) of the Freedom of Information Act, which exempts from 
disclosure ``trade secrets and commercial or financial information 
obtained from a person and privileged or confidential'' (5 U.S.C. 
552(b)(4)), and (b)(8) of the Freedom of Information Act, which exempts 
from disclosure information 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)(8)).
    Current Actions: The Economic Growth, Regulatory Relief, and 
Consumer Protection Action (EGRRCPA), enacted on May 24, 2018, amended 
various provisions of banking law to eliminate or reduce statutory and 
regulatory requirements on certain banking organizations. EGRRCPA, 
among other things, provides that state member banks and other 
depository institutions may only be required to assign a heightened 
risk weight to a ``high volatility commercial real estate'' (HVCRE) 
exposure if such exposure is

[[Page 46163]]

an ``HVCRE ADC Loan,'' as defined in section 214 of EGRRCPA. Section 
202 of EGRRCPA also amended the statutory definition of ``brokered 
deposits.'' The current instructions for reporting HVCRE and brokered 
deposits in the FR Y-9C are inconsistent with these provisions of 
EGRRCPA.
    In order to avoid the regulatory burden associated with different 
definitions for HVCRE exposures and brokered deposits within a single 
organization, the Board has amended the FR Y-9C instructions to permit 
bank holding companies, savings and loan holding companies, and 
intermediate holding companies of foreign banks to report HVCRE and 
brokered deposits on the FR Y-9C report in a manner consistent with 
their subsidiary depository institution(s).
    In order for the FR Y-9C to reflect sections 202 and 214 of 
EGRRCPA, which became effective immediately when EGRRCPA was signed on 
May 24, 2018, the Board cannot comply with the normal clearance process 
and still receive the June 30, 2018, financial data in a timely manner. 
Therefore, the Board has determined that the revisions to the FR Y-9C 
described above must be instituted quickly and public participation in 
the approval process would substantially interfere with the Board's 
ability to perform its statutory obligations arising from EGRRCPA.

    Board of Governors of the Federal Reserve System, September 6, 
2018.
Michele Taylor Fennell,
Assistant Secretary of the Board.
[FR Doc. 2018-19676 Filed 9-11-18; 8:45 am]
BILLING CODE 6210-01-P