Change in Bank Control Notices; Acquisitions of Shares of a Bank or Bank Holding Company, 57874 [2019-23531]

Download as PDF 57874 Federal Register / Vol. 84, No. 209 / Tuesday, October 29, 2019 / Notices noncleared swaps (as a substitute for compliance with the prudential regulators’ rule) if the prudential regulators jointly determine that the foreign regulatory framework is comparable to the requirements in the prudential regulators’ rule. Section 349.9(e) allows a covered swap entity to request that the prudential regulators make a substituted compliance determination and must provide the reasons therefore and other required supporting documentation. A request for a substituted compliance determination must include: (1) A description of the scope and objectives of the foreign regulatory framework for non-cleared swaps and non-cleared security-based swaps; (2) the specific provisions of the foreign regulatory framework for non-cleared swaps and security-based swaps (scope of transactions covered; determination of the amount of initial and variation margin required; timing of margin requirements; documentation requirements; forms of eligible collateral; segregation and rehypothecation requirements; and approval process and standards for models); (3) the supervisory compliance program and enforcement authority exercised by a foreign financial regulatory authority or authorities in such system to support its oversight of the application of the non-cleared swap and security-based swap regulatory framework; and (4) any other descriptions and documentation that the prudential regulators determine are appropriate. A covered swap entity may make a request under this section only if directly supervised by the authorities administering the foreign regulatory framework for non-cleared swaps and non-cleared security-based swaps. Section 349.10 requires a covered swap entity to execute trading documentation with each counterparty that is either a swap entity or financial end user regarding credit support arrangements that: (1) Provides the contractual right to collect and post initial margin and variation margin in such amounts, in such form, and under such circumstances as are required and (2) specifies the methods, procedures, rules, and inputs for determining the value of each non-cleared swap or noncleared security-based swap for purposes of calculating variation margin requirements and the procedures for resolving any disputes concerning valuation. Section 349.11(b)(1) provides that the requirement for a covered swap VerDate Sep<11>2014 17:05 Oct 28, 2019 Jkt 250001 entity to post initial margin under § 349.3(b) does not apply with respect to any noncleared swap or non-cleared security based swap with a counterparty that is an affiliate. A covered swap entity shall calculate the amount of initial margin that would be required to be posted to an affiliate that is a financial end user with material swaps exposure pursuant to § 349.3(b) and provide documentation of such amount to each affiliate on a daily basis. There is no change in the method or substance of the collection. The FDIC currently does not supervise any institutions that are subject to this information collection but is reporting one respondent as a placeholder to preserve the burden estimates. For clarity, the burden presentation has been changed to correspond to the burden presentation made by the other agencies in their respective information collections. There is no change in the total estimated annual burden. Request for Comment Comments are invited on: (a) Whether the collection of information is necessary for the proper performance of the FDIC’s functions, including whether the information has practical utility; (b) the accuracy of the estimates of the burden of the 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; and (d) ways to minimize the burden of the collection of information on respondents, including through the use of automated collection techniques or other forms of information technology. All comments will become a matter of public record. Federal Deposit Insurance Corporation. Dated at Washington, DC, on October 23, 2019. Annmarie H. Boyd, Assistant Executive Secretary. [FR Doc. 2019–23527 Filed 10–28–19; 8:45 am] BILLING CODE 6714–01–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 (Act) (12 U.S.C. 1817(j)) and § 225.41 of the Board’s Regulation Y (12 PO 00000 Frm 00031 Fmt 4703 Sfmt 4703 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 applications listed below, as well as other related filings required by the Board, if any, are available for immediate inspection at the Federal Reserve Bank 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 paragraph 7 of the Act. Comments regarding each of these applications must be received at the Federal Reserve Bank indicated or the offices of the Board of Governors, Ann E. Misback, Secretary of the Board, 20th and Constitution Avenue NW, Washington, DC 20551–0001, not later than November 7, 2019. A. Federal Reserve Bank of Dallas (Robert L. Triplett III, Senior Vice President) 2200 North Pearl Street, Dallas, Texas 75201–2272: 1. Ferne S. Frosch, Huntsville, Texas; to retain voting shares of First National Bancshares of Huntsville, Inc. and thereby indirectly retain voting shares of First National Bank of Huntsville, both of Huntsville, Texas. In addition, The Wilbourne T. Robinson Family Trust No. 1, Huntsville, Texas, Ferne S. Frosch, Huntsville, Texas, Frances R. Snipes, Houston, Texas, and Florine R. Klussmann, Katy, Texas, as co-trustees; The Wilbourne T. Robinson Family Trust No. 2, Ferne S. Frosch, Frances R. Snipes, and Florine R. Klussmann, as co-trustees; The J. Philip Gibbs Trust No. 2, Huntsville, Texas, Ferne S. Frosch, trustee; Wayne B. Frosch; Walter M. Woodward, Jr.; and Clyde Michael Williams, all of Huntsville, Texas; Janet Smyth and Mary K. Basquin, both of New York, New York; Virginia S. Low, London, N1; Elizabeth H. Hawley, Dallas, Texas; and a minor child; to be approved as members acting in concert with the Smyth Gibbs Aker Group to retain voting shares of First National Bancshares of Huntsville, Inc. and thereby retain voting shares of First National Bank of Huntsville. Board of Governors of the Federal Reserve System, October 23, 2019. Yao-Chin Chao, Assistant Secretary of the Board. [FR Doc. 2019–23531 Filed 10–28–19; 8:45 am] BILLING CODE 6210–01–P E:\FR\FM\29OCN1.SGM 29OCN1

Agencies

[Federal Register Volume 84, Number 209 (Tuesday, October 29, 2019)]
[Notices]
[Page 57874]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-23531]


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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 (Act) (12 U.S.C. 1817(j)) and Sec.  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 applications listed below, as well as other related filings 
required by the Board, if any, are available for immediate inspection 
at the Federal Reserve Bank 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 paragraph 7 of the Act.
    Comments regarding each of these applications must be received at 
the Federal Reserve Bank indicated or the offices of the Board of 
Governors, Ann E. Misback, Secretary of the Board, 20th and 
Constitution Avenue NW, Washington, DC 20551-0001, not later than 
November 7, 2019.
    A. Federal Reserve Bank of Dallas (Robert L. Triplett III, Senior 
Vice President) 2200 North Pearl Street, Dallas, Texas 75201-2272:
    1. Ferne S. Frosch, Huntsville, Texas; to retain voting shares of 
First National Bancshares of Huntsville, Inc. and thereby indirectly 
retain voting shares of First National Bank of Huntsville, both of 
Huntsville, Texas. In addition, The Wilbourne T. Robinson Family Trust 
No. 1, Huntsville, Texas, Ferne S. Frosch, Huntsville, Texas, Frances 
R. Snipes, Houston, Texas, and Florine R. Klussmann, Katy, Texas, as 
co-trustees; The Wilbourne T. Robinson Family Trust No. 2, Ferne S. 
Frosch, Frances R. Snipes, and Florine R. Klussmann, as co-trustees; 
The J. Philip Gibbs Trust No. 2, Huntsville, Texas, Ferne S. Frosch, 
trustee; Wayne B. Frosch; Walter M. Woodward, Jr.; and Clyde Michael 
Williams, all of Huntsville, Texas; Janet Smyth and Mary K. Basquin, 
both of New York, New York; Virginia S. Low, London, N1; Elizabeth H. 
Hawley, Dallas, Texas; and a minor child; to be approved as members 
acting in concert with the Smyth Gibbs Aker Group to retain voting 
shares of First National Bancshares of Huntsville, Inc. and thereby 
retain voting shares of First National Bank of Huntsville.

    Board of Governors of the Federal Reserve System, October 23, 
2019.
Yao-Chin Chao,
Assistant Secretary of the Board.
[FR Doc. 2019-23531 Filed 10-28-19; 8:45 am]
 BILLING CODE 6210-01-P