Agency Information Collection Activities: Announcement of Board Approval under Delegated Authority and Submission to OMB, 70528-70529 [2019-27599]
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Federal Register / Vol. 84, No. 246 / Monday, December 23, 2019 / Notices
granted by the FDIC as of November 26,
2019.
lotter on DSKBCFDHB2PROD with NOTICES
I. Government Deposit Accounts for
Which the Covered Institution Does Not
have the Requisite Information
Regarding the Official Custodian
A covered institution was granted a
time-limited exception from the general
recordkeeping requirements set forth in
section 370.4(a) to obtain official
custodian information needed to
calculate deposit insurance available for
government deposit accounts and
maintain that information in its deposit
account records. The covered institution
did not collect, or have a mechanism to
collect such information prior to the
FDIC’s adoption of part 370 and
anticipates that it may not be able to
collect such information for all
government accounts before its April 1,
2020 compliance date.
In connection with the FDIC’s grant of
relief, the covered institution will
implement an outreach plan to obtain
the requisite information directly from
the government account holders; update
its electronic deposit account records
and make other IT system
enhancements as needed; ensure that,
from and after the April 1, 2020
compliance date, holds can be placed on
government deposit accounts in the
event of its failure until sufficient
information is provided by the account
holder to enable calculation of deposit
insurance coverage; submit a status
report to the FDIC at the midpoint of the
exception relief period; and
immediately notify the FDIC of any
change in relevant circumstances or
conditions.
II. Informal Revocable Trust Accounts
for Which the Covered Institution
Needs Additional Time To Integrate
Beneficiary Information
A covered institution was granted a
time-limited exception from the general
recordkeeping requirements set forth in
section 370.4(a) to identify accurate
beneficiary information needed to
calculate deposit insurance coverage for
informal revocable trust accounts (also
known as ‘‘payable-on-death’’ or ‘‘intrust-for’’ accounts) and maintain that
information in a systematic manner that
can be used by its IT system to calculate
deposit insurance coverage.
In connection with the FDIC’s grant of
relief, the covered institution will
implement and complete review of
paper-based documents or contact
account holders to obtain the necessary
beneficiary information; update its
electronic deposit account records and
make other IT system enhancements as
needed; submit a status report to the
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19:32 Dec 20, 2019
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FDIC at the midpoint of the period for
which relief is granted; and immediately
notify the FDIC of any change in
relevant circumstances or conditions.
III. Deposits Held in Connection With
Low Balance, Short-Term Prepaid
Cards
A covered institution was granted an
indefinite exception from section
370.4(a)(1)(ii) for deposit accounts held
in connection with low balance, shortterm prepaid cards issued for rebates,
refunds, incentives, and per diem
payments. These cards are issued by the
covered institution on behalf of a
commercial customer and have been
registered by the cardholders. Although
the prepaid cards are registered, the
cardholders do not provide social
security numbers, which are necessary
for the covered institution’s IT system to
aggregate deposits by owner for deposit
insurance calculation purposes. The
covered institution asserts that a certain
small population of prepaid cardholders
will not provide personally identifiable
information for a low dollar prepaid
card that will be used within months of
issuance. This exception does not
include deposit accounts held in
connection with payroll or government
prepaid cards, certain types of loyalty or
rebate cards where the cardholder is not
the actual owner of the funds, or per
diem cards for which the covered
institution has a social security number.
The covered institution stated that it
has not collected social security
numbers prior to issuance of these
prepaid cards, nor does it have a
business purpose or mechanism to do
so. It also stated that doing so would
jeopardize the commercial viability of
the product or service and that the
deposit accounts subject to the
exception were a small subset of the
covered institution’s prepaid card
portfolio and have low balances and
high turnover.
In connection with the FDIC’s grant of
relief, the covered institution will:
maintain the capability to restrict access
to the deposit accounts subject to the
exception to ensure no uninsured funds
leave the covered institution in the
event of its failure; maintain at least one
method for the cardholder to register his
or her name, address, and social
security number through, for example, a
website or call center; receive daily
reports from the prepaid card
processor(s) with customer name,
address, transaction data, and end-ofday customer balances; document the
resources, methods, and estimated time
needed at failure to collect social
security numbers related to the subject
accounts; include in the institution’s
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current prepaid cardholder disclosure
notices that access to funds will be
withheld in the event of failure pending
receipt of sufficient information,
including, at a minimum, government
identification, to complete a deposit
insurance calculation; demonstrate the
IT system’s ability to timely generate the
customer file and process the deposit
insurance calculation; and immediately
bring to the FDIC’s attention any change
of circumstances or conditions.
Federal Deposit Insurance Corporation.
Dated at Washington, DC on December 18,
2019.
Annmarie H. Boyd,
Assistant Executive Secretary.
[FR Doc. 2019–27626 Filed 12–20–19; 8:45 am]
BILLING CODE 6714–01–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, without revision, the Savings
Association Holding Company Report
(FR LL–(b)11; OMB No. 7100–0334).
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
AGENCY:
E:\FR\FM\23DEN1.SGM
23DEN1
Federal Register / Vol. 84, No. 246 / Monday, December 23, 2019 / Notices
lotter on DSKBCFDHB2PROD with NOTICES
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, Without Revision, the Following
Information Collection:
Report title: Savings Association
Holding Company Report.
Agency form number: FR LL–(b)11.1
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–
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.
2 The FR LL–(b)11 is filed quarterly except for the
fourth quarter when the respondent is required to
file its annual report.
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19:32 Dec 20, 2019
Jkt 250001
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
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 U.S. Securities
and Exchange Commission 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.
Individual respondents may request that
other information submitted to the
Board through the FR LL–(b)11 be kept
confidential, and the Board will
determine whether the information is
entitled to confidential treatment on a
case-by-case basis. Information may be
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.
4 12 U.S.C. 1467a(b)(2)(A).
5 5 U.S.C. 552(b)(4).
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70529
kept confidential under FOIA
exemption 4 or exemption 8, 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
Current actions: On September 10,
2019, the Board published an initial
notice in the Federal Register (84 FR
47514) requesting public comment for
60 days on the extension, without
revision, of the FR LL–(b)11. 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. 2019–27599 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.
ACTION: Approval of Information
Collection.
AGENCY:
The Board of Governors of the
Federal Reserve System (Board) is
adopting two proposals to extend for
three years, with revision, the Capital
Assessments and Stress Testing Reports
(FR Y–14A/Q/M; OMB No. 7100–0341).
The revisions are applicable with as of
dates ranging from December 31, 2019,
to December 31, 2020. This final notice
is adopting two proposals previously
published separately: One proposing to
incorporate current expected credit loss
(CECL) methodology revisions into the
FR Y–14A/Q/M reports (CECL
proposal), and the other proposal to
incorporate non-CECL methodology
revisions into the FR Y–14A/Q/M
reports (non-CECL proposal).
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,
SUMMARY:
65
U.S.C. 552(b)(4) and (8).
E:\FR\FM\23DEN1.SGM
23DEN1
]]>Agencies
[Federal Register Volume 84, Number 246 (Monday, December 23, 2019)]
[Notices]
[Pages 70528-70529]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-27599]
=======================================================================
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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, without revision, the
Savings Association Holding Company Report (FR LL-(b)11; OMB No. 7100-
0334).
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
[[Page 70529]]
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, Without Revision, the Following Information Collection:
Report title: Savings Association Holding Company Report.
Agency form number: FR LL-(b)11.\1\
---------------------------------------------------------------------------
\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.
---------------------------------------------------------------------------
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 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.
---------------------------------------------------------------------------
\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.
---------------------------------------------------------------------------
The FR LL-(b)11 collects the following six categories of
information:
(1) Information about U.S. Securities and Exchange Commission
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.
---------------------------------------------------------------------------
\4\ 12 U.S.C. 1467a(b)(2)(A).
---------------------------------------------------------------------------
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. Individual respondents may
request that other information submitted to the Board through the FR
LL-(b)11 be kept confidential, and the Board will determine whether the
information is entitled to confidential treatment on a case-by-case
basis. Information may be kept confidential under FOIA exemption 4 or
exemption 8, 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\
---------------------------------------------------------------------------
\5\ 5 U.S.C. 552(b)(4).
\6\ 5 U.S.C. 552(b)(4) and (8).
---------------------------------------------------------------------------
Current actions: On September 10, 2019, the Board published an
initial notice in the Federal Register (84 FR 47514) requesting public
comment for 60 days on the extension, without revision, of the FR LL-
(b)11. 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. 2019-27599 Filed 12-20-19; 8:45 am]
BILLING CODE 6210-01-P
