Agency Information Collection Activities: Announcement of Board Approval Under Delegated Authority and Submission to OMB, 65815-65816 [2019-25822]

Download as PDF khammond on DSKJM1Z7X2PROD with NOTICES Federal Register / Vol. 84, No. 230 / Friday, November 29, 2019 / Notices types and amounts of collateral or assets pledged) after approximately a two year lag.1 The FR 2046 report is considered confidential until the fact that the institution borrowed from the discount window is disclosed. Until this point, the release of this report would reveal confidential commercial information about the borrower (i.e., the fact that the institution borrowed from the discount window, as only borrowers are required to file this form), which is reasonably likely to cause substantial harm to the competitive position of the institution that submitted the report if the institution is prematurely identified. Thus, the report is kept confidential under exemption 4 of the Freedom of Information Act (‘‘FOIA’’), 5 U.S.C. 552(b)(4), which protects from disclosure ‘‘trade secrets and commercial or financial information obtained from a person [that is] privileged or confidential.’’ Once the fact that an institution borrowed from the discount window is disclosed, the FR 2046 report is no longer considered confidential in the event a FOIA request is received. Current actions: On July 19, 2019, the Board published a notice in the Federal Register (84 FR 34890) requesting public comment for 60 days on the extension, with revision, of the FR 2046. The Board proposed to update data element definitions to account for the introduction of the FFIEC 051 reporting form. In addition, the face of the FR 2046 report will be updated to (1) reflect all of the legal statutes that authorize the collection of the report; (2) indicate that the report is ‘‘authorized’’ (not ‘‘required’’) by law; and (3) clarify that, if the report is requested under the FOIA, the report will be treated as confidential unless the borrower’s identity has already been disclosed pursuant to the two year lag provided under the Dodd-Frank Wall Street Reform and Consumer Protection Act.2 The comment period for this notice expired on September 17, 2019. The Board did not receive any comments. The revisions will be implemented as proposed. FEDERAL RESERVE SYSTEM Board of Governors of the Federal Reserve System, November 22, 2019. Michele Taylor Fennell, Assistant Secretary of the Board. FEDERAL RESERVE SYSTEM [FR Doc. 2019–25842 Filed 11–27–19; 8:45 am] 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 BILLING CODE 6210–01–P 1 See 2 12 12 U.S.C. 248(s). U.S.C. 248(s). VerDate Sep<11>2014 16:49 Nov 27, 2019 Jkt 250001 Formations of, Acquisitions by, and Mergers of Savings and Loan Holding Companies The companies listed in this notice have applied to the Board for approval, pursuant to the Home Owners’ Loan Act (12 U.S.C. 1461 et seq.) (HOLA), Regulation LL (12 CFR part 238), and Regulation MM (12 CFR part 239), and all other applicable statutes and regulations to become a savings and loan holding company and/or to acquire the assets or the ownership of, control of, or the power to vote shares of a savings association. The applications listed below are available for immediate inspection at the Federal Reserve Bank indicated. The applications also will be available for inspection at the offices of the Board of Governors. Interested persons may express their views in writing on whether the proposed transaction complies with the standards enumerated in the HOLA (12 U.S.C. 1467a(e)). 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 Ann E. Misback, Secretary of the Board, 20th Street and Constitution Avenue NW, Washington, DC 20551– 0001, not later than December 27, 2019. A. Federal Reserve Bank of Chicago (Colette A. Fried, Assistant Vice President) 230 South LaSalle Street, Chicago, Illinois 60690–1414: 1. Eaton Federal Mutual Holding Company and Eaton Federal Stock Holding Company, both of Charlotte, Michigan; to become a mutual savings and loan holding company and a midtier stock savings and loan holding company, respectively, by acquiring Eaton Federal Savings Bank, Charlotte, Michigan. Board of Governors of the Federal Reserve System, November 22, 2019. Yao-Chin Chao, Assistant Secretary of the Board. [FR Doc. 2019–25825 Filed 11–27–19; 8:45 am] BILLING CODE P Formations of, Acquisitions by, and Mergers of Bank Holding Companies PO 00000 Frm 00040 Fmt 4703 Sfmt 4703 65815 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, 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 the BHC Act (12 U.S.C. 1842(c)). Comments regarding each of these applications must be received at the Reserve Bank indicated or the offices of the Board of Governors, Ann E. Misback, Secretary of the Board, 20th Street and Constitution Avenue NW, Washington DC 20551–0001, not later than December 30, 2019. A. Federal Reserve Bank of Chicago (Colette A. Fried, Assistant Vice President) 230 South LaSalle Street, Chicago, Illinois 60690–1414: 1. Bosshard Financial Group, Inc., La Crosse, Wisconsin; to merge with Northern Bankshares, Inc., and thereby indirectly acquire McFarland State Bank, both of McFarland, Wisconsin. Board of Governors of the Federal Reserve System, November 25, 2019. Yao-Chin Chao, Assistant Secretary of the Board. [FR Doc. 2019–25900 Filed 11–27–19; 8:45 am] BILLING CODE P FEDERAL RESERVE SYSTEM Agency Information Collection Activities: Announcement of Board Approval Under Delegated Authority and Submission to OMB Board of Governors of the Federal Reserve System. SUMMARY: The Board of Governors of the Federal Reserve System (Board) is adopting a proposal to extend for three years, with revision, the Interchange Transaction Fees Survey. The revisions are applicable as of the collection of calendar year 2019. 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. Office of Management and Budget (OMB) Desk Officer—Shagufta Ahmed— AGENCY: E:\FR\FM\29NON1.SGM 29NON1 65816 Federal Register / Vol. 84, No. 230 / Friday, November 29, 2019 / Notices khammond on DSKJM1Z7X2PROD with NOTICES 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. 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. These documents also are available on the Federal Reserve 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 above. SUPPLEMENTARY INFORMATION: On June 15, 1984, OMB delegated to the Board authority under the PRA to approve and assign OMB control numbers to collections of information conducted or sponsored by the Board. Boardapproved collections of information are incorporated into the official OMB inventory of currently approved collections of information. Copies of the PRA Submission, supporting statements, and approved collection of information instrument(s) are placed into OMB’s public docket files. Final Approval Under OMB Delegated Authority of the Extension for Three Years, With Revision, of the Following Information Collection Report title: Interchange Transaction Fees Survey. Agency form number: FR 3064. OMB control number: 7100–0344. Effective date: The revisions are effective for the collection of calendar year 2019. Frequency: Annually. Respondents: Debit card issuers and payment card networks. Estimated number of respondents: FR 3064a, 541 respondents; and FR 3064b, 15 respondents. Estimated average hours per response: FR 3064a, 160 hours; and FR 3064b, 75 hours. Estimated annual burden hours: FR 3064a, 86,560 hours; and FR 3064b, 1,125 hours. General description of report: The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (DoddFrank Act) requires the Board to disclose, at least every two years, such aggregate or summary information concerning the costs incurred for, and interchange transaction fees received by, issuers with respect to debit card transactions as the Board considers appropriate or in the public interest. The data from these surveys are used in fulfilling that disclosure requirement. In VerDate Sep<11>2014 16:49 Nov 27, 2019 Jkt 250001 addition, the Board uses data from the payment card network survey (FR 3064b) to publicly report on an annual basis the extent to which networks have established separate interchange fees for exempt and covered issuers.1 Finally, the Board uses the data from these surveys in determining whether to propose revisions to the interchange fee standards in Debit Card Interchange Fees and Routing (Regulation II) (12 CFR part 235). The Dodd-Frank Act provides the Board with authority to require debit card issuers and payment card networks to submit information in order to carry out provisions of the Dodd-Frank Act regarding interchange fee standards. Legal authorization and confidentiality: The FR 3064 is authorized by subsection 920(a) of the Electronic Fund Transfer Act, which was amended by section 1075(a) of the Dodd-Frank Act.2 This statutory provision requires the Board, at least once every two years,3 to disclose aggregate or summary information concerning the costs incurred and interchange transaction fees charged or received by issuers or payment card networks in connection with the authorization, clearance or settlement of electronic debit transactions as the Board considers appropriate and in the public interest.4 It also provides the Board with authority to require issuers and payment card networks to provide information to enable the Board to carry out the provisions of the subsection.5 The FR 3064 is mandatory. In accordance with the statutory requirement, the Board releases aggregate or summary information from the survey responses. In addition, the Board releases, at the network level, the percentage of total number of transactions, the percentage of total value of transactions, and the average transaction value for exempt and notexempt issuers obtained on the FR 3064b. The Board has determined to release this information both because it can already be determined mathematically based on the information the Board currently releases on average interchange fees and because the Board believes the release of such information may be useful to issuers and merchants in choosing payment card networks in which to participate 1 Average debit card interchange fee by payment card network http://www.federalreserve.gov/ paymentsystems/regii-average-interchange-fee.htm. 2 15 U.S.C. 1693o–2. 3 The subsection refers to bi-annual disclosures and the Board interprets this to mean once every two years. See 76 FR 43458. 4 15 U.S.C. 1693o–2(a)(3)(B). 5 Id. PO 00000 Frm 00041 Fmt 4703 Sfmt 4703 and to policymakers in assessing the effect of Regulation II on the level of interchange fees received by issuers over time. The remaining individual issuer and payment card information collected on these surveys may be kept confidential under exemption (b)(4) of the Freedom of Information Act (FOIA) to the extent that, if released, this information would cause substantial harm to the competitive position of the survey respondents.6 Current actions: On August 12, 2019, the Board published a notice in the Federal Register (84 FR 39847) requesting public comment for 60 days on the extension, with revision, of the FR 3064. The Board proposed revisions to the FR 3064a to (1) remove the breakout of interchange fees reimbursed to acquirers as a result of chargebacks or returns, (2) add tokenization as an option for fraud prevention activity, and (3) update the survey instructions and glossary terms to improve clarity. In addition, the Board proposed revisions to the FR 3064b to (1) remove a question about the number of merchant establishments, (2) remove questions about offering an interchange fee schedule that differentiates between exempt and non-exempt issuers, (3) remove questions about refunds of interchange fees to acquirers for chargebacks and returns, and (4) update the survey instructions and glossary of terms to improve clarity. The comment period for this notice expired on October 11, 2019. The Board did not receive any comments. The revisions will be implemented as proposed. Board of Governors of the Federal Reserve System, November 22, 2019. Michele Taylor Fennell, Assistant Secretary of the Board. [FR Doc. 2019–25822 Filed 11–27–19; 8:45 am] BILLING CODE 6210–01–P FEDERAL RESERVE SYSTEM Notice of Proposals To Engage in or To Acquire Companies Engaged in Permissible Nonbanking Activities The companies listed in this notice have given notice under section 4 of the Bank Holding Company Act (12 U.S.C. 1843) (BHC Act) and Regulation Y, (12 CFR part 225) to engage de novo, or to acquire or control voting securities or assets of a company, including the companies listed below, that engages either directly or through a subsidiary or 6 See 5 U.S.C. 552(b)(4) (exempting from disclosure ‘‘trade secrets and commercial or financial information obtained from a person [that is] privileged or confidential’’). E:\FR\FM\29NON1.SGM 29NON1

Agencies

[Federal Register Volume 84, Number 230 (Friday, November 29, 2019)]
[Notices]
[Pages 65815-65816]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-25822]


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FEDERAL RESERVE SYSTEM


Agency Information Collection Activities: Announcement of Board 
Approval Under Delegated Authority and Submission to OMB

AGENCY: Board of Governors of the Federal Reserve System.

SUMMARY: The Board of Governors of the Federal Reserve System (Board) 
is adopting a proposal to extend for three years, with revision, the 
Interchange Transaction Fees Survey. The revisions are applicable as of 
the collection of calendar year 2019.

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.
    Office of Management and Budget (OMB) Desk Officer--Shagufta 
Ahmed--

[[Page 65816]]

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.
    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. 
These documents also are available on the Federal Reserve 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 above.

SUPPLEMENTARY INFORMATION: On June 15, 1984, OMB delegated to the Board 
authority under the PRA to approve and assign OMB control numbers to 
collections of information conducted or sponsored by the Board. Board-
approved collections of information are incorporated into the official 
OMB inventory of currently approved collections of information. Copies 
of the PRA Submission, supporting statements, and approved collection 
of information instrument(s) are placed into OMB's public docket files.

Final Approval Under OMB Delegated Authority of the Extension for Three 
Years, With Revision, of the Following Information Collection

    Report title: Interchange Transaction Fees Survey.
    Agency form number: FR 3064.
    OMB control number: 7100-0344.
    Effective date: The revisions are effective for the collection of 
calendar year 2019.
    Frequency: Annually.
    Respondents: Debit card issuers and payment card networks.
    Estimated number of respondents: FR 3064a, 541 respondents; and FR 
3064b, 15 respondents.
    Estimated average hours per response: FR 3064a, 160 hours; and FR 
3064b, 75 hours.
    Estimated annual burden hours: FR 3064a, 86,560 hours; and FR 
3064b, 1,125 hours.
    General description of report: The Dodd-Frank Wall Street Reform 
and Consumer Protection Act of 2010 (Dodd-Frank Act) requires the Board 
to disclose, at least every two years, such aggregate or summary 
information concerning the costs incurred for, and interchange 
transaction fees received by, issuers with respect to debit card 
transactions as the Board considers appropriate or in the public 
interest. The data from these surveys are used in fulfilling that 
disclosure requirement. In addition, the Board uses data from the 
payment card network survey (FR 3064b) to publicly report on an annual 
basis the extent to which networks have established separate 
interchange fees for exempt and covered issuers.\1\ Finally, the Board 
uses the data from these surveys in determining whether to propose 
revisions to the interchange fee standards in Debit Card Interchange 
Fees and Routing (Regulation II) (12 CFR part 235). The Dodd-Frank Act 
provides the Board with authority to require debit card issuers and 
payment card networks to submit information in order to carry out 
provisions of the Dodd-Frank Act regarding interchange fee standards.
---------------------------------------------------------------------------

    \1\ Average debit card interchange fee by payment card network 
http://www.federalreserve.gov/paymentsystems/regii-average-interchange-fee.htm.
---------------------------------------------------------------------------

    Legal authorization and confidentiality: The FR 3064 is authorized 
by subsection 920(a) of the Electronic Fund Transfer Act, which was 
amended by section 1075(a) of the Dodd-Frank Act.\2\ This statutory 
provision requires the Board, at least once every two years,\3\ to 
disclose aggregate or summary information concerning the costs incurred 
and interchange transaction fees charged or received by issuers or 
payment card networks in connection with the authorization, clearance 
or settlement of electronic debit transactions as the Board considers 
appropriate and in the public interest.\4\ It also provides the Board 
with authority to require issuers and payment card networks to provide 
information to enable the Board to carry out the provisions of the 
subsection.\5\ The FR 3064 is mandatory. In accordance with the 
statutory requirement, the Board releases aggregate or summary 
information from the survey responses. In addition, the Board releases, 
at the network level, the percentage of total number of transactions, 
the percentage of total value of transactions, and the average 
transaction value for exempt and not-exempt issuers obtained on the FR 
3064b. The Board has determined to release this information both 
because it can already be determined mathematically based on the 
information the Board currently releases on average interchange fees 
and because the Board believes the release of such information may be 
useful to issuers and merchants in choosing payment card networks in 
which to participate and to policymakers in assessing the effect of 
Regulation II on the level of interchange fees received by issuers over 
time.
---------------------------------------------------------------------------

    \2\ 15 U.S.C. 1693o-2.
    \3\ The subsection refers to bi-annual disclosures and the Board 
interprets this to mean once every two years. See 76 FR 43458.
    \4\ 15 U.S.C. 1693o-2(a)(3)(B).
    \5\ Id.
---------------------------------------------------------------------------

    The remaining individual issuer and payment card information 
collected on these surveys may be kept confidential under exemption 
(b)(4) of the Freedom of Information Act (FOIA) to the extent that, if 
released, this information would cause substantial harm to the 
competitive position of the survey respondents.\6\
---------------------------------------------------------------------------

    \6\ See 5 U.S.C. 552(b)(4) (exempting from disclosure ``trade 
secrets and commercial or financial information obtained from a 
person [that is] privileged or confidential'').
---------------------------------------------------------------------------

    Current actions: On August 12, 2019, the Board published a notice 
in the Federal Register (84 FR 39847) requesting public comment for 60 
days on the extension, with revision, of the FR 3064. The Board 
proposed revisions to the FR 3064a to (1) remove the breakout of 
interchange fees reimbursed to acquirers as a result of chargebacks or 
returns, (2) add tokenization as an option for fraud prevention 
activity, and (3) update the survey instructions and glossary terms to 
improve clarity. In addition, the Board proposed revisions to the FR 
3064b to (1) remove a question about the number of merchant 
establishments, (2) remove questions about offering an interchange fee 
schedule that differentiates between exempt and non-exempt issuers, (3) 
remove questions about refunds of interchange fees to acquirers for 
chargebacks and returns, and (4) update the survey instructions and 
glossary of terms to improve clarity. The comment period for this 
notice expired on October 11, 2019. The Board did not receive any 
comments. The revisions will be implemented as proposed.

    Board of Governors of the Federal Reserve System, November 22, 
2019.
Michele Taylor Fennell,
Assistant Secretary of the Board.
[FR Doc. 2019-25822 Filed 11-27-19; 8:45 am]
 BILLING CODE 6210-01-P