Proposed Agency Information Collection Activities; Comment Request, 47514-47516 [2019-19445]
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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
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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
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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:
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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.
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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.
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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,
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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).
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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]
-----------------------------------------------------------------------
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.
-----------------------------------------------------------------------
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.
---------------------------------------------------------------------------
\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.
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\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.
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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.
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\4\ 12 U.S.C. 1467a(b)(2)(A).
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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
