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