Proposed Agency Information Collection Activities; Comment Request, 47514-47516 [2019-19445]

Download as PDF khammond on DSKBBV9HB2PROD with NOTICES 47514 Federal Register / Vol. 84, No. 175 / Tuesday, September 10, 2019 / Notices Agency form numbers: FR 2030, FR 2303a, FR 2056, FR 2086, FR 2086a, FR 2087. OMB control number: 7100–0042. Effective Date: Immediately. Frequency: On occasion. Respondents: New national banks, non-member state banks converting into national banks, member banks, and member banks converting into or merging into member or nonmember banks. Estimated number of respondents: FR 2030, 4; FR 2030a, 7; FR 2056, 1,068; FR 2086, 10; FR 2086a, 86; FR 2087, 1. Estimated average hours per response: Estimated annual burden hours: FR 2030, 2; FR 2030a, 3.5; FR 2056, 534; FR 2086, 5; FR 2086a, 43; FR 2087, 0.5. General description of report: Any national bank wanting to purchase stock in the Federal Reserve System, any member bank wanting to increase or decrease its Federal Reserve Bank stock holdings, or any bank wanting to cancel its stock holdings must file an application with the appropriate Federal Reserve Bank. The application forms for the initial subscription of Federal Reserve Bank stock filed by organizing national banks and nonmember state banks converting to national banks (FR 2030 and 2030a, respectively) and the application forms for the cancellation of Federal Reserve Bank stock filed by liquidating member banks, member banks merging or consolidating with nonmember banks, and insolvent member banks (FR 2086, FR 2086a, and FR 2087, respectively) require one or more of the following: A resolution by the applying bank’s board of directors authorizing the transaction, an indication of the capital and surplus of the bank as of the date of application, a certification (by official signatures) of the resolution, and/or an indication of the number of shares and dollar amount of the Federal Reserve Bank stock to be purchased or cancelled. The application form for an interim adjustment in a member bank’s holdings of Federal Reserve Bank stock (FR 2056) requires an indication of the capital and surplus of the bank as of the date of application and an indication of the number of shares held and the number of shares to be acquired or canceled. A completed application form must be submitted for each required adjustment. Any member bank must use the FR 2056 to correct a discrepancy between the amount of Federal Reserve Bank stock required to be held and the amount actually held by the member bank. The latter is determined by the Reserve Bank through its monitoring of the bank’s capital accounts reported quarterly on the Consolidated Reports of VerDate Sep<11>2014 16:56 Sep 09, 2019 Jkt 247001 Condition and Income (Call Report) (FFIEC 031, FFIEC 041, and FFIEC 051; OMB No. 7100–0036). The Federal Reserve Bank Stock Applications are distributed by the Federal Reserve Banks and the information collected enables them to account for required subscription, adjustment, or cancellation payments to and from the System and for dividends paid by the System on any outstanding stock. Report title: Federal Reserve Membership Application. Agency form numbers: FR 2083/A/B/C. OMB control number: 7100–0046. Effective Date: Immediately. Frequency: On occasion. Respondents: Banks seeking to become state member banks, existing banks or savings institutions seeking to convert to state member bank status, national banks wanting to purchase stock in the Federal Reserve System, and member banks wanting to increase, decrease, or cancel their Federal Reserve Bank stock holdings. Estimated number of respondents: 16. Estimated average hours per response: 4. Estimated annual burden hours: 64. General description of report: The four individual application forms in the FR 2083 series (membership application and relevant attachments) are all onetime submissions that are used by organizing (new) or existing statechartered banks to apply for membership in the Federal Reserve System. The FR 2083 contains a cover sheet, with general information and instructions detailing the information to be submitted according to the type of applicant bank. The FR 2083A is the application form for the purchase of Federal Reserve Bank stock by state banks (except mutual savings banks) and by national banks converting into state member banks. The FR 2083B is the application form for the purchase of Federal Reserve Bank stock by mutual savings banks. The FR 2083C is the Certificate of Organizers or Directors certifying that the information being submitted is true and complete, and the proposed capital is not impaired. Legal authorization and confidentiality: The Federal Reserve Membership Application is authorized by section 9 of the Federal Reserve Act (FRA) (12 U.S.C. 321, 322, 323, 329, and 333). The Federal Reserve Bank Stock Applications are authorized pursuant to sections 9 (12 U.S.C. 321) and 11(a) of the FRA (12 U.S.C. 248(a)). Additionally, the FR 2030 and FR 2030a are specifically authorized by section 2 of the FRA (12 U.S.C. 222 and 282); the FR 2056, FR 2086, and FR 2086a are PO 00000 Frm 00041 Fmt 4703 Sfmt 4703 authorized by section 5 of the FRA (12 U.S.C. 287); and the FR 2087 is authorized by section 6 of the FRA (12 U.S.C. 288). Current actions: On June 6, 2019, the Board published a notice in the Federal Register (84 FR 26415) requesting public comment for 60 days on the extension, with revision, of the Federal Reserve Membership Application and the Federal Reserve Bank Stock Applications. The revisions to these collections include: (1) Require the bank to include their American Bankers Association (ABA) number on page one (FR 2030, FR 2030A, FR 2056, FR 2083A, and FR 2083B); (2) include the Chief Financial Officer (CFO) as an authorized signer (FR 2030, FR 2030A, FR 2056, FR 2083A, FR 2083B, FR 2086, and FR 2086A); (3) remove the SEAL and/or notarization requirement to allow for electronic retention of documentation (FR 2030, FR 2030A, FR 2056, FR 2083A, FR 2083B, and FR 2087); (4) include a note requiring that the signer of the form be included on the bank’s Official Authorization List that is on file with the Federal Reserve (FR 2030, 2030A, FR 2056, 2083A, FR 2083B, and FR 2086A); (5) collect an additional data point ‘‘Less: Retained earnings and accumulated other comprehensive income if such combined amount is negative’’ on page one (FR 2030, FR 2030a, similar to the FR 2056); (6) on page one of FR 2056: (a) Place a box around the area where member banks enter their Common stock, Paid-in surplus and NRE figures (if applicable) and place a bolded ‘‘Member banks’’ identifier at top left, (b) place member bank and mutual savings bank calculations separated from each other in order to alleviate each type of institution from using both areas, and (c) insert the statement to, ‘‘round up only’’ to footnote 3. The comment period for this notice expired on August 5, 2019. The Board did not receive any comments. The revisions will be implemented as proposed. Board of Governors of the Federal Reserve System, September 5, 2019. Michele Taylor Fennell, Assistant Secretary of the Board. [FR Doc. 2019–19519 Filed 9–9–19; 8:45 am] BILLING CODE 6210–01–P FEDERAL RESERVE SYSTEM Proposed Agency Information Collection Activities; Comment Request Board of Governors of the Federal Reserve System. AGENCY: E:\FR\FM\10SEN1.SGM 10SEN1 Federal Register / Vol. 84, No. 175 / Tuesday, September 10, 2019 / Notices ACTION: Notice, request for comment. The Board of Governors of the Federal Reserve System (Board) invites comment on a proposal to extend for three years, without revision, the Savings Association Holding Company Report (FR LL-(b)11;1 OMB No. 7100– 0334). DATES: Comments must be submitted on or before November 12, 2019. ADDRESSES: You may submit comments, identified by FR LL-(b)11, by any of the following methods: • Agency Website: https:// www.federalreserve.gov. Follow the instructions for submitting comments at https://www.federalreserve.gov/apps/ foia/proposedregs.aspx. • Email: regs.comments@ federalreserve.gov. Include OMB number in the subject line of the message. • Fax: (202) 452–3819 or (202) 452– 3102. • Mail: Ann E. Misback, Secretary, Board of Governors of the Federal Reserve System, 20th Street and Constitution Avenue NW, Washington, DC 20551. All public comments are available on the Board’s website at https:// www.federalreserve.gov/apps/foia/ proposedregs.aspx as submitted, unless modified for technical reasons or to remove personally identifiable information at the commenter’s request. Accordingly, 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 146, 1709 New York Avenue NW, Washington, DC 20006, between 9:00 a.m. and 5:00 p.m. on weekdays. For security reasons, the Board requires that visitors make an appointment to inspect comments. You may do so by calling (202) 452–3684. Upon arrival, visitors will be required to present valid government-issued photo identification and to submit to security screening in order to inspect and photocopy comments. Additionally, commenters may send a copy of their comments to the Office of Management and Budget (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. khammond on DSKBBV9HB2PROD with NOTICES SUMMARY: 1 The internal Agency Tracking Number previously assigned by the Board to this information collection was ‘‘FR H-(b)11.’’ The Board is changing the internal Agency Tracking Number to ‘‘FR LL-(b)11’’ for the purpose of consistency. VerDate Sep<11>2014 16:56 Sep 09, 2019 Jkt 247001 A copy of the Paperwork Reduction Act (PRA) OMB submission, including the proposed reporting form and instructions, supporting statement, and other documentation will be placed into OMB’s public docket files, if approved. These documents will also be made available on the Board’s public website at https://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: On June 15, 1984, OMB delegated to the Board authority under the PRA to approve 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. FOR FURTHER INFORMATION CONTACT: 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 Board’s functions, including whether the information has practical utility; b. The accuracy of the Board’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. PO 00000 Frm 00042 Fmt 4703 Sfmt 4703 47515 At the end of the comment period, the comments and recommendations received will be analyzed to determine the extent to which the Board should modify the proposal. Proposal Under OMB Delegated Authority To Extend for Three Years, Without Revision, the Following Information Collection Report title: Savings Association Holding Company Report. Agency form number: FR LL-(b)11. OMB control number: 7100–0334. Frequency: Quarterly,2 annually, and event-generated. Respondents: Certain savings and loan holding companies (SLHCs). Estimated number of respondents: Quarterly: 6; annually: 6; eventgenerated: 1. Estimated average hours per response: Quarterly: 2; annually: 2; eventgenerated: 2. Estimated annual burden hours: Quarterly: 36; annually: 12; eventgenerated: 2. General description of report: Title III of the Dodd-Frank Wall Street Reform and Consumer Protection Act transferred to the Board the supervisory functions of the former Office of Thrift Supervision related to SLHCs and their non-depository subsidiaries. Pursuant to section 10(b) the Home Owners’ Loan Act (HOLA), the Board may require SLHCs to file reports concerning their operations. Following the transfer to the Board of authority to supervise SLHCs, the Board determined to exempt certain SLHCs (known as ‘‘exempt SLHCs’’) from regulatory reporting using the Board’s existing regulatory reports, including the Consolidated Financial Statements for Holding Companies (FR Y–9C; OMB No. 7100–0128) and the Parent Company Only Financial Statements for Small Holding Companies (FR Y–9SP; OMB No. 7100– 0128). Exempt SLHCs must file the FR LL-(b)11 quarterly report in order for the Board to obtain the information that is necessary to supervise such SLHCs, monitor their financial condition, and assess their regulatory compliance. An SLHC is exempt from filing the FR Y– 9C or FR Y–9SP if it: (1) Meets the requirements of section 10(c)(9)(C) of HOLA (i.e., a ‘‘grandfathered’’ unitary SLHC) and has primarily commercial assets, with thrift assets making up less than 5 percent of the SLHC’s consolidated assets;3 or (2) primarily 2 The FR LL-(b)11 is filed quarterly except for the fourth quarter when the respondent is required to file its annual report. 3 Specifically, a grandfathered unitary SLHC is exempt if (1) as calculated annually as of June 30th, E:\FR\FM\10SEN1.SGM Continued 10SEN1 47516 Federal Register / Vol. 84, No. 175 / Tuesday, September 10, 2019 / Notices khammond on DSKBBV9HB2PROD with NOTICES holds insurance-related assets and does not otherwise submit financial reports with the U.S. Securities and Exchange Commission pursuant to sections 13 or 15(d) of the Securities Exchange Act of 1934. The FR LL-(b)11 collects the following six categories of information: (1) Information about SEC filings; (2) Reports provided by Nationally Recognized Statistical Rating Organizations and Securities Analysts; (3) Supplemental information for the Quarterly Savings and Loan Holding Company Report (FR 2320; OMB No. 7100–0345); (4) Information about other materially important events; (5) Financial statements; and (6) Other exhibits required by the Board. Legal authorization and confidentiality: The FR LL–10(b)11 is authorized pursuant to section 10 of the Home Owners’ Loan Act, which requires SLHCs to file ‘‘such reports as may be required by the Board.’’ 4 The FR LL-(b)11 is mandatory. Information provided through the FR LL- (b)11 that corresponds to a ‘‘yes’’ answer to questions 24, 25, and 26 of the FR 2320 is generally considered to be confidential under exemption 4 of the Freedom of Information Act (FOIA), which protects privileged or confidential commercial or financial information.5 If it should be determined subsequently that any information collected on these three items must be released, respondents will be notified. For other information submitted to the Board through the FR LL-(b)11, individual respondents may request that it be kept confidential. If a respondent requests confidential treatment, the Board will determine whether the information is entitled to confidential treatment on a case-by-case basis. Information may be kept confidential under exemption 4 of the FOIA, which exempts from disclosure ‘‘trade secrets and commercial or financial information obtained from a person [that is] privileged or confidential,’’ or exemption 8 of the FOIA, which exempts from disclosure information using the four previous quarters (which includes the quarter-ended June 30th reporting period), its savings association subsidiaries’ consolidated assets make up less than 5 percent of the total consolidated assets of the grandfathered SLHC on an enterprise-wide basis for any of these four quarters; and (2) as calculated annually as of June 30th, using the assets reported as of June 30th, where more than 50 percent of the assets of the grandfathered unitary SLHC are derived from activities that are not otherwise permissible under HOLA on an enterprise-wide basis. 4 12 U.S.C. 1467a(b)(2)(A). 5 5 U.S.C. 552(b)(4). VerDate Sep<11>2014 16:56 Sep 09, 2019 Jkt 247001 ‘‘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.’’ 6 Board of Governors of the Federal Reserve System, September 4, 2019. Michele Taylor Fennell, Assistant Secretary of the Board. [FR Doc. 2019–19445 Filed 9–9–19; 8:45 am] BILLING CODE 6210–01–P FEDERAL RESERVE SYSTEM Proposed Agency Information Collection Activities; Comment Request Board of Governors of the Federal Reserve System. ACTION: Notice, request for comment. AGENCY: The Board of Governors of the Federal Reserve System (Board) invites comment on a proposal to extend for three years, without revision, the Notice of Branch Closure (FR 4031; OMB No. 7100–0264). DATES: Comments must be submitted on or before November 12, 2019. ADDRESSES: You may submit comments, identified by FR 4031, by any of the following methods: • Agency Website: https:// www.federalreserve.gov/. Follow the instructions for submitting comments at https://www.federalreserve.gov/apps/ foia/proposedregs.aspx. • Email: regs.comments@ federalreserve.gov. Include OMB number in the subject line of the message. • Fax: (202) 452–3819 or (202) 452– 3102. • Mail: Ann E. Misback, Secretary, Board of Governors of the Federal Reserve System, 20th Street and Constitution Avenue NW, Washington, DC 20551. All public comments are available on the Board’s website at https:// www.federalreserve.gov/apps/foia/ proposedregs.aspx as submitted, unless modified for technical reasons or to remove personally identifiable information at the commenter’s request. Accordingly, 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 146, 1709 New York Avenue NW, Washington, DC 20006, between 9:00 a.m. and 5:00 p.m. on weekdays. For security reasons, the Board requires that visitors make an appointment to inspect comments. You SUMMARY: 65 PO 00000 U.S.C. 552(b)(4) and (8). Frm 00043 Fmt 4703 Sfmt 4703 may do so by calling (202) 452–3684. Upon arrival, visitors will be required to present valid government-issued photo identification and to submit to security screening in order to inspect and photocopy comments. Additionally, commenters may send a copy of their comments to the Office of Management and Budget (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 Paperwork Reduction Act (PRA) OMB submission, including the reporting form and instructions, supporting statement, and other documentation will be placed into OMB’s public docket files, if approved. These documents will also be made available on the Board’s public website at https://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. SUPPLEMENTARY INFORMATION: On June 15, 1984, OMB delegated to the Board authority under the PRA to approve 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. 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 Board’s functions, including whether the information has practical utility; b. The accuracy of the Board’s estimate of the burden of the proposed information collection, including the validity of the methodology and assumptions used; E:\FR\FM\10SEN1.SGM 10SEN1

Agencies

[Federal Register Volume 84, Number 175 (Tuesday, September 10, 2019)]
[Notices]
[Pages 47514-47516]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-19445]


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FEDERAL RESERVE SYSTEM


Proposed Agency Information Collection Activities; Comment 
Request

AGENCY: Board of Governors of the Federal Reserve System.

[[Page 47515]]


ACTION: Notice, request for comment.

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SUMMARY: The Board of Governors of the Federal Reserve System (Board) 
invites comment on a proposal to extend for three years, without 
revision, the Savings Association Holding Company Report (FR LL-
(b)11;\1\ OMB No. 7100-0334).
---------------------------------------------------------------------------

    \1\ The internal Agency Tracking Number previously assigned by 
the Board to this information collection was ``FR H-(b)11.'' The 
Board is changing the internal Agency Tracking Number to ``FR LL-
(b)11'' for the purpose of consistency.

---------------------------------------------------------------------------
DATES: Comments must be submitted on or before November 12, 2019.

ADDRESSES: You may submit comments, identified by FR LL-(b)11, by any 
of the following methods:
     Agency Website: https://www.federalreserve.gov. Follow the 
instructions for submitting comments at https://www.federalreserve.gov/apps/foia/proposedregs.aspx.
     Email: [email protected]. Include OMB 
number in the subject line of the message.
     Fax: (202) 452-3819 or (202) 452-3102.
     Mail: Ann E. Misback, Secretary, Board of Governors of the 
Federal Reserve System, 20th Street and Constitution Avenue NW, 
Washington, DC 20551.
    All public comments are available on the Board's website at https://www.federalreserve.gov/apps/foia/proposedregs.aspx as submitted, 
unless modified for technical reasons or to remove personally 
identifiable information at the commenter's request. Accordingly, 
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 146, 1709 New York Avenue NW, Washington, DC 20006, 
between 9:00 a.m. and 5:00 p.m. on weekdays. For security reasons, the 
Board requires that visitors make an appointment to inspect comments. 
You may do so by calling (202) 452-3684. Upon arrival, visitors will be 
required to present valid government-issued photo identification and to 
submit to security screening in order to inspect and photocopy 
comments.
    Additionally, commenters may send a copy of their comments to the 
Office of Management and Budget (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 Paperwork Reduction Act 
(PRA) OMB submission, including the proposed reporting form and 
instructions, supporting statement, and other documentation will be 
placed into OMB's public docket files, if approved. These documents 
will also be made available on the Board's public website at https://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:  On June 15, 1984, OMB delegated to the 
Board authority under the PRA to approve 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.

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 Board's functions, including whether the 
information has practical utility;
    b. The accuracy of the Board'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 Board 
should modify the proposal.

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

    Report title: Savings Association Holding Company Report.
    Agency form number: FR LL-(b)11.
    OMB control number: 7100-0334.
    Frequency: Quarterly,\2\ annually, and event-generated.
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    \2\ The FR LL-(b)11 is filed quarterly except for the fourth 
quarter when the respondent is required to file its annual report.
---------------------------------------------------------------------------

    Respondents: Certain savings and loan holding companies (SLHCs).
    Estimated number of respondents: Quarterly: 6; annually: 6; event-
generated: 1.
    Estimated average hours per response: Quarterly: 2; annually: 2; 
event-generated: 2.
    Estimated annual burden hours: Quarterly: 36; annually: 12; event-
generated: 2.
    General description of report: Title III of the Dodd-Frank Wall 
Street Reform and Consumer Protection Act transferred to the Board the 
supervisory functions of the former Office of Thrift Supervision 
related to SLHCs and their non-depository subsidiaries. Pursuant to 
section 10(b) the Home Owners' Loan Act (HOLA), the Board may require 
SLHCs to file reports concerning their operations. Following the 
transfer to the Board of authority to supervise SLHCs, the Board 
determined to exempt certain SLHCs (known as ``exempt SLHCs'') from 
regulatory reporting using the Board's existing regulatory reports, 
including the Consolidated Financial Statements for Holding Companies 
(FR Y-9C; OMB No. 7100-0128) and the Parent Company Only Financial 
Statements for Small Holding Companies (FR Y-9SP; OMB No. 7100-0128). 
Exempt SLHCs must file the FR LL-(b)11 quarterly report in order for 
the Board to obtain the information that is necessary to supervise such 
SLHCs, monitor their financial condition, and assess their regulatory 
compliance. An SLHC is exempt from filing the FR Y-9C or FR Y-9SP if 
it: (1) Meets the requirements of section 10(c)(9)(C) of HOLA (i.e., a 
``grandfathered'' unitary SLHC) and has primarily commercial assets, 
with thrift assets making up less than 5 percent of the SLHC's 
consolidated assets;\3\ or (2) primarily

[[Page 47516]]

holds insurance-related assets and does not otherwise submit financial 
reports with the U.S. Securities and Exchange Commission pursuant to 
sections 13 or 15(d) of the Securities Exchange Act of 1934.
---------------------------------------------------------------------------

    \3\ Specifically, a grandfathered unitary SLHC is exempt if (1) 
as calculated annually as of June 30th, using the four previous 
quarters (which includes the quarter-ended June 30th reporting 
period), its savings association subsidiaries' consolidated assets 
make up less than 5 percent of the total consolidated assets of the 
grandfathered SLHC on an enterprise-wide basis for any of these four 
quarters; and (2) as calculated annually as of June 30th, using the 
assets reported as of June 30th, where more than 50 percent of the 
assets of the grandfathered unitary SLHC are derived from activities 
that are not otherwise permissible under HOLA on an enterprise-wide 
basis.
---------------------------------------------------------------------------

    The FR LL-(b)11 collects the following six categories of 
information:
    (1) Information about SEC filings;
    (2) Reports provided by Nationally Recognized Statistical Rating 
Organizations and Securities Analysts;
    (3) Supplemental information for the Quarterly Savings and Loan 
Holding Company Report (FR 2320; OMB No. 7100-0345);
    (4) Information about other materially important events;
    (5) Financial statements; and
    (6) Other exhibits required by the Board.
    Legal authorization and confidentiality: The FR LL-10(b)11 is 
authorized pursuant to section 10 of the Home Owners' Loan Act, which 
requires SLHCs to file ``such reports as may be required by the 
Board.'' \4\ The FR LL-(b)11 is mandatory.
---------------------------------------------------------------------------

    \4\ 12 U.S.C. 1467a(b)(2)(A).
---------------------------------------------------------------------------

    Information provided through the FR LL- (b)11 that corresponds to a 
``yes'' answer to questions 24, 25, and 26 of the FR 2320 is generally 
considered to be confidential under exemption 4 of the Freedom of 
Information Act (FOIA), which protects privileged or confidential 
commercial or financial information.\5\ If it should be determined 
subsequently that any information collected on these three items must 
be released, respondents will be notified. For other information 
submitted to the Board through the FR LL-(b)11, individual respondents 
may request that it be kept confidential. If a respondent requests 
confidential treatment, the Board will determine whether the 
information is entitled to confidential treatment on a case-by-case 
basis. Information may be kept confidential under exemption 4 of the 
FOIA, which exempts from disclosure ``trade secrets and commercial or 
financial information obtained from a person [that is] privileged or 
confidential,'' or exemption 8 of the FOIA, 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.'' \6\
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    \5\ 5 U.S.C. 552(b)(4).
    \6\ 5 U.S.C. 552(b)(4) and (8).

    Board of Governors of the Federal Reserve System, September 4, 
2019.
Michele Taylor Fennell,
Assistant Secretary of the Board.
[FR Doc. 2019-19445 Filed 9-9-19; 8:45 am]
 BILLING CODE 6210-01-P