Agency Information Collection Activities: Announcement of Board Approval Under Delegated Authority and Submission to OMB, 70541-70542 [2019-27597]

Download as PDF Federal Register / Vol. 84, No. 246 / Monday, December 23, 2019 / Notices Final Approval Under OMB Delegated Authority of the Extension for Three Years, With Revision, of the Following Information Collection 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. AGENCY: The Board of Governors of the Federal Reserve System (Board) is adopting a proposal to extend for three years, with revision, the Notice of Mutual Holding Company Reorganization (FR MM–10(o)–1), Application for Approval of a Stock Issuance by a Subsidiary Holding Company of a Mutual Holding Company (FR MM–10(o)–2), Application for Conversion of a Mutual Holding Company to Stock Form (FR MM–AC), Proxy Statement (FR MM–PS), Offering Circular (FR MM–OC), and Order Form (FR MM–OF) (OMB No. 7100–0340). The revisions are applicable as of January 1, 2020. SUMMARY: 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— 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. 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. lotter on DSKBCFDHB2PROD with NOTICES SUPPLEMENTARY INFORMATION: VerDate Sep<11>2014 19:32 Dec 20, 2019 Jkt 250001 Report title: Notice of Mutual Holding Company Reorganization, Application for Approval of a Stock Issuance by a Subsidiary Holding Company of a Mutual Holding Company, Application for Conversion of a Mutual Holding Company to Stock Form, Proxy Statement, Offering Circular, and Order Form. Agency form number: FR MM–10(o)– 1, FR MM–10(o)–2, FR MM–AC, FR MM–PS, FR MM–OC, and FR MM–OF. OMB control number: 7100–0340. Effective date: January 1, 2020. Frequency: On occasion. Respondents: Savings associations that wish to reorganize to form a mutual holding company under the Home Owners’ Loan Act (HOLA), subsidiary holding companies of a mutual holding company, mutual holding companies, and members of applying mutual organizations. Estimated number of respondents: FR MM–10(o)–1: 4; FR MM–10(o)–2: 1; FR MM–AC: 2; FR MM–PS: 1; FR MM–OC: 1; and FR MM–OF: 1. Estimated average hours per response: FR MM–10(o)–1: 60; FR MM–10(o)–2: 30; FR MM–AC: 60; FR MM–PS: 50; FR MM–OC: 50; and FR MM–OF: 1. Estimated annual burden hours: FR MM–10(o)–1: 240; FR MM–10(o)–2: 30; FR MM–AC: 120; FR MM–PS: 50; FR MM–OC: 50; and FR MM–OF: 1. General description of report: The Mutual Holding Company (MHC) Forms consist of information that must be filed in connection with certain proposals involving savings and loan holding companies (SLHCs) that are organized in mutual form (MHCs), including the reorganization of a savings association into MHC form, stock issuances of holding company subsidiaries of MHCs, and conversions of MHCs to stock form. The Board requires the submission of these filings to allow the Board to fulfill its obligations to review such transactions under section 10(o) of the HOLA, as amended,(12 U.S.C. 1467a(o)), and the Board’s Regulation MM (12 CFR part 239). The Board uses the information submitted by an applicant or notificant to evaluate these transactions with respect to the relevant statutory and regulatory factors. Legal authorization and confidentiality: The MHC Forms are authorized pursuant to section 10(o) of the HOLA, as amended, (12 U.S.C. 1467a(o)). That section requires the Board to review transactions involving the reorganization of a savings PO 00000 Frm 00049 Fmt 4703 Sfmt 4703 70541 association into MHC form, stock issuances of holding company subsidiaries of MHCs, and conversions of MHCs to stock form. The Board also has the authority to require reports from SLHCs under Section 10(a) and (b) of the HOLA (12 U.S.C. 1467a(b) and (g)). The MHC Forms are mandatory. Individual respondents may request that certain information submitted on the MHC Forms be kept confidential on a case-by-case basis. If a respondent requests confidential treatment, the Board will determine whether the information is entitled to confidential treatment on an ad hoc basis. Requests may include information related to the SLHC’s business operations, such as terms and sources of the funding for dividends and pro forma balance sheets. This information may be kept confidential under exemption 4 of the Freedom of Information Act, which protects privileged or confidential commercial or financial information (5 U.S.C. 552(b)(4)). Current actions: On August 12, 2019, the Board published an initial notice in the Federal Register (84 FR 39841) requesting public comment for 60 days on the extension, with revision, of the MHC Forms. The Board proposed numerous revisions to the MHC Forms, which were originally drafted by the Office of Thrift Supervision (OTS) when it supervised MHCs. Since supervisory functions of the OTS relating to SLHCs and MHCs were transferred to the Board, many of the changes modify the MHC Forms to make the forms consistent with the format of other Board forms. Additionally, the proposal includes revisions meant to (1) reduce the amount and types of data requested, (2) incorporate information on the Board’s policies and procedures for processing applications, (3) improve the clarity of the information requests, (4) reflect the impact of new laws, regulations, capital requirements, and accounting rules, (5) delete unnecessary information requests, and (6) improve or update grammar, comprehension, citations, and mailing addresses. The revisions are also intended to ensure that initial filings include the information the Board requires to evaluate a transaction and thereby reduce the need for subsequent information requests. 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. E:\FR\FM\23DEN1.SGM 23DEN1 70542 Federal Register / Vol. 84, No. 246 / Monday, December 23, 2019 / Notices Board of Governors of the Federal Reserve System, December 17, 2019. Michele Taylor Fennell, Assistant Secretary of the Board. [FR Doc. 2019–27597 Filed 12–20–19; 8:45 am] BILLING CODE 6210–01–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. AGENCY: The Board of Governors of the Federal Reserve System (Board) is adopting a proposal to extend for three years, without revision, the Transfer Agent Registration and Amendment Form (Form TA–1; OMB No. 7100– 0099). SUMMARY: 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— 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. 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. lotter on DSKBCFDHB2PROD with NOTICES SUPPLEMENTARY INFORMATION: VerDate Sep<11>2014 19:32 Dec 20, 2019 Jkt 250001 Final Approval Under OMB Delegated Authority of the Extension for Three Years, Without Revision, of the Following Information Collection Report title: Transfer Agent Registration and Amendment Form. Agency form number: Form TA–1. OMB control number: 7100–0099. Frequency: On occasion. Respondents: State member banks (SMBs) and subsidiaries thereof, bank holding companies (BHCs) and covered subsidiaries thereof, and savings and loan holding companies (SLHCs). Estimated number of respondents: Registrations, 1; amendments, 2; deregistrations, 1. Estimated average time per response: Registrations, 1.25 hours; amendments, 10 minutes (0.16 hours); de-registrations 30 minutes (0.5 hours). Estimated annual burden hours: Registrations, 1.25 hours; amendments, 0.33 hours; de-registrations, 0.5 hours. General description of report: The Securities Exchange Act of 1934 (Exchange Act) requires any person acting as a transfer agent 1 to register as such with the appropriate regulatory agency (ARA). The Board is the ARA for the respondents listed above. Transfer agents for which the Board is the ARA must register with the Board using Form TA–1. Legal authorization and confidentiality: Section 17A(c) of the Exchange Act 2 requires all transfer agents for securities registered under section 12 of the Exchange Act to register ‘‘by filing with the appropriate regulatory agency . . . an application for registration in such form and containing such information and documents . . . as such appropriate regulatory agency may prescribe as necessary or appropriate in furtherance of the purposes of this section.’’ 3 Under section 3(a)(34)(B)(ii) of the Exchange Act,4 the Board is the appropriate regulatory agency with respect to any transfer agent that is a state member bank or a subsidiary thereof, a BHC or a covered subsidiary thereof, or a SLHC (together, ‘‘Board-Registered Transfer Agents’’). In addition, the Form TA–1 is authorized pursuant to sections 2, 17(a)(3), and 23(a) of the Exchange Act,5 which, among other things, authorize the Board to promulgate regulations and establish recordkeeping and reporting 1 Transfer agents are institutions that provide securities transfer, registration, monitoring, and other specified services on behalf of securities issuers. See 15 U.S.C. 78c(25) (defining ‘‘transfer agent’’). 2 15 U.S.C. 78q–1(c). 3 See 15 U.S.C. 78q–1(c)(1). 4 15 U.S.C. 78c(a)(34)(B)(ii). 5 15 U.S.C. 78b, 78q(a)(3), and 78w(a). PO 00000 Frm 00050 Fmt 4703 Sfmt 4703 requirements with respect to BoardRegistered Transfer Agents. Additionally, the Board also has broad authority to require reports from BHCs, SLHCs, and SMBs.6 The Form TA–1 is mandatory. The information collected in the Form TA– 1 is available to the public upon request and is not considered confidential. Current actions: On September 10, 2019, the Board published an initial notice in the Federal Register (84 FR 47512) requesting public comment for 60 days on the extension, without revision, of the Form TA–1. The comment period for this notice expired on November 12, 2019. The Board did not receive any comments. Board of Governors of the Federal Reserve System, December 17, 2019. Michele Taylor Fennell, Assistant Secretary of the Board. [FR Doc. 2019–27598 Filed 12–20–19; 8:45 am] BILLING CODE 6210–01–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 Notice by Financial Institutions of Government Securities Broker or Government Securities Dealer Activities and the Notice by Financial Institutions of Termination of Activities as a Government Securities Broker or Government Securities Dealer (Form G– FIN and Form G–FINW; OMB No. 7100– 0224). The revisions are effective immediately. AGENCY: 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—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. 6 See 12 U.S.C. 1844(c), 12 U.S.C. 1467a(b) and (g), and 12 U.S.C. 248(a) and 324. E:\FR\FM\23DEN1.SGM 23DEN1

Agencies

[Federal Register Volume 84, Number 246 (Monday, December 23, 2019)]
[Notices]
[Pages 70541-70542]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-27597]



[[Page 70541]]

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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 
Notice of Mutual Holding Company Reorganization (FR MM-10(o)-1), 
Application for Approval of a Stock Issuance by a Subsidiary Holding 
Company of a Mutual Holding Company (FR MM-10(o)-2), Application for 
Conversion of a Mutual Holding Company to Stock Form (FR MM-AC), Proxy 
Statement (FR MM-PS), Offering Circular (FR MM-OC), and Order Form (FR 
MM-OF) (OMB No. 7100-0340). The revisions are applicable as of January 
1, 2020.

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--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: Notice of Mutual Holding Company Reorganization, 
Application for Approval of a Stock Issuance by a Subsidiary Holding 
Company of a Mutual Holding Company, Application for Conversion of a 
Mutual Holding Company to Stock Form, Proxy Statement, Offering 
Circular, and Order Form.
    Agency form number: FR MM-10(o)-1, FR MM-10(o)-2, FR MM-AC, FR MM-
PS, FR MM-OC, and FR MM-OF.
    OMB control number: 7100-0340.
    Effective date: January 1, 2020.
    Frequency: On occasion.
    Respondents: Savings associations that wish to reorganize to form a 
mutual holding company under the Home Owners' Loan Act (HOLA), 
subsidiary holding companies of a mutual holding company, mutual 
holding companies, and members of applying mutual organizations.
    Estimated number of respondents: FR MM-10(o)-1: 4; FR MM-10(o)-2: 
1; FR MM-AC: 2; FR MM-PS: 1; FR MM-OC: 1; and FR MM-OF: 1.
    Estimated average hours per response: FR MM-10(o)-1: 60; FR MM-
10(o)-2: 30; FR MM-AC: 60; FR MM-PS: 50; FR MM-OC: 50; and FR MM-OF: 1.
    Estimated annual burden hours: FR MM-10(o)-1: 240; FR MM-10(o)-2: 
30; FR MM-AC: 120; FR MM-PS: 50; FR MM-OC: 50; and FR MM-OF: 1.
    General description of report: The Mutual Holding Company (MHC) 
Forms consist of information that must be filed in connection with 
certain proposals involving savings and loan holding companies (SLHCs) 
that are organized in mutual form (MHCs), including the reorganization 
of a savings association into MHC form, stock issuances of holding 
company subsidiaries of MHCs, and conversions of MHCs to stock form. 
The Board requires the submission of these filings to allow the Board 
to fulfill its obligations to review such transactions under section 
10(o) of the HOLA, as amended,(12 U.S.C. 1467a(o)), and the Board's 
Regulation MM (12 CFR part 239). The Board uses the information 
submitted by an applicant or notificant to evaluate these transactions 
with respect to the relevant statutory and regulatory factors.
    Legal authorization and confidentiality: The MHC Forms are 
authorized pursuant to section 10(o) of the HOLA, as amended, (12 
U.S.C. 1467a(o)). That section requires the Board to review 
transactions involving the reorganization of a savings association into 
MHC form, stock issuances of holding company subsidiaries of MHCs, and 
conversions of MHCs to stock form. The Board also has the authority to 
require reports from SLHCs under Section 10(a) and (b) of the HOLA (12 
U.S.C. 1467a(b) and (g)). The MHC Forms are mandatory.
    Individual respondents may request that certain information 
submitted on the MHC Forms be kept confidential on a case-by-case 
basis. If a respondent requests confidential treatment, the Board will 
determine whether the information is entitled to confidential treatment 
on an ad hoc basis. Requests may include information related to the 
SLHC's business operations, such as terms and sources of the funding 
for dividends and pro forma balance sheets. This information may be 
kept confidential under exemption 4 of the Freedom of Information Act, 
which protects privileged or confidential commercial or financial 
information (5 U.S.C. 552(b)(4)).
    Current actions: On August 12, 2019, the Board published an initial 
notice in the Federal Register (84 FR 39841) requesting public comment 
for 60 days on the extension, with revision, of the MHC Forms. The 
Board proposed numerous revisions to the MHC Forms, which were 
originally drafted by the Office of Thrift Supervision (OTS) when it 
supervised MHCs. Since supervisory functions of the OTS relating to 
SLHCs and MHCs were transferred to the Board, many of the changes 
modify the MHC Forms to make the forms consistent with the format of 
other Board forms. Additionally, the proposal includes revisions meant 
to (1) reduce the amount and types of data requested, (2) incorporate 
information on the Board's policies and procedures for processing 
applications, (3) improve the clarity of the information requests, (4) 
reflect the impact of new laws, regulations, capital requirements, and 
accounting rules, (5) delete unnecessary information requests, and (6) 
improve or update grammar, comprehension, citations, and mailing 
addresses. The revisions are also intended to ensure that initial 
filings include the information the Board requires to evaluate a 
transaction and thereby reduce the need for subsequent information 
requests. 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.


[[Page 70542]]


    Board of Governors of the Federal Reserve System, December 17, 
2019.
Michele Taylor Fennell,
Assistant Secretary of the Board.
[FR Doc. 2019-27597 Filed 12-20-19; 8:45 am]
 BILLING CODE 6210-01-P