Formations of, Acquisitions by, and Mergers of Bank Holding Companies, 1811 [2020-00278]

Download as PDF Federal Register / Vol. 85, No. 8 / Monday, January 13, 2020 / Notices similar data on other forms of assistance. Annual Audit The CWA requires a CWSRF to undergo an annual audit. Though an audit conducted under the Single Audit Act meets this requirement, the EPA still recommends that a CWSRF also undergo a separate independent audit as a best management practice. The audit must contain an opinion on the financial condition of the CWSRF program, a report on its internal controls, and a report on compliance with applicable laws and the CWA. Clean Water National Information Management System (CWNIMS) and CWSRF Benefits Reporting (CBR) To meet the CWA objective of ‘‘promoting the efficient use of fund resources,’’ states must enter financial data, including project disbursements, into the CWNIMS database on an annual basis. This publicly available information is used by the EPA to assess compliance with the CWSRFs’ mandate to use all funds in an ‘‘expeditious and timely’’ manner and achieve the objectives of the CWA. Project level data is collected on a quarterly basis using the CBR System to record projected environmental results from CWSRF projects. khammond on DSKJM1Z7X2PROD with NOTICES CWSRF Applications The application is developed and used by the CWSRFs to determine the project’s eligibility, to evaluate the borrower’s financial capability to repay the CWSRF, and to ensure that the borrower will comply with all applicable program requirements. The information collected by the CWSRF applications is consistent with requirements set forth by the CWA. Public Awareness Policy Per EPA Grants Policy Issuance (GPI) 14–02: Enhancing Public Awareness of EPA Assistance Agreements, CWSRF borrowers must publicize the EPA’s involvement in project funding only up to the funding amount in each year’s capitalization grant. The CWSRFs have various options to meet this requirement. Except for the public awareness policy and CWSRF applications, the respondents for the information collection activities are the state environmental departments and/or finance agencies responsible for operating the CWSRFs. The CWSRFs have procedures in place to assist borrowers in completing the applications. The public awareness policy directly impacts CWSRF VerDate Sep<11>2014 16:32 Jan 10, 2020 Jkt 250001 borrowers that are designated as recipients of federal funds. The burden associated with the public awareness policy should not have an impact on small entities since the CWSRFs have flexibility in determining which borrowers must comply with this requirement. Form numbers: None. Respondents/affected entities: Entities affected by this action are state environmental departments and/or finance agencies responsible for operating the CWSRFs and eligible CWSRF borrowers. Respondent’s obligation to respond: Required to obtain or retain a benefit per Title VI of CWA as amended by WRRDA. Estimated number of respondents: 51 state environmental departments and/or finance agencies (per year); 1,544 eligible CWSRF borrowers (per year). Frequency of response: Varies by requirement (i.e., quarterly and annually). Total estimated burden: 659,390 hours (per year). Burden is defined at 5 CFR 1320.03(b). Total estimated cost: $33,199,314 (per year). Changes in estimates: There is an increase of 72,004 hours (per year) in the total estimated reporting burden compared with the ICR currently approved by OMB. This increase is from an upward adjustment of the annual number of CWSRF applications expected to occur during this collection period. Specifically, the estimated annual number of CWSRF applications has been increased from 1,359 to 1,544 in response to recent activity. Dated: December 20, 2019. Andrew D. Sawyers, Director, Office of Wastewater Management. 1811 The applications listed below, as well as other related filings required by the Board, 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)). If the proposal also involves the acquisition of a nonbanking company, the review also includes whether the acquisition of the nonbanking company complies with the standards in section 4 of the BHC Act (12 U.S.C. 1843), and interested persons may express their views in writing on the standards enumerated in section 4. Unless otherwise noted, nonbanking activities will be conducted throughout the United States. 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 and Constitution Avenue NW, Washington, DC 20551–0001, not later than February 12, 2020. A. Federal Reserve Bank of Minneapolis (Chris P. Wangen, Assistant Vice President), 90 Hennepin Avenue, Minneapolis, Minnesota 55480–0291: 1. L1 Holding Corporation, Minneapolis, Minnesota; to become a bank holding company by acquiring Eagle Community Bank, Maple Grove, Minnesota. In connection with this application, L1 Holding Corporation has applied to engage in mortgage lending activities by acquiring LeaderOne Financial Corporation, Overland Park, Kansas, pursuant to section 4 of the BHC Act. BILLING CODE 6560–50–P Board of Governors of the Federal Reserve System, January 8, 2020. Yao-Chin Chao, Assistant Secretary of the Board. FEDERAL RESERVE SYSTEM [FR Doc. 2020–00278 Filed 1–10–20; 8:45 am] [FR Doc. 2020–00274 Filed 1–10–20; 8:45 am] BILLING CODE P Formations of, Acquisitions by, and Mergers of Bank Holding Companies 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 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. PO 00000 Frm 00012 Fmt 4703 Sfmt 4703 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 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)). E:\FR\FM\13JAN1.SGM 13JAN1

Agencies

[Federal Register Volume 85, Number 8 (Monday, January 13, 2020)]
[Notices]
[Page 1811]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-00278]


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FEDERAL RESERVE SYSTEM


Formations of, Acquisitions by, and Mergers of Bank Holding 
Companies

    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 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, 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)). If the proposal also involves the 
acquisition of a nonbanking company, the review also includes whether 
the acquisition of the nonbanking company complies with the standards 
in section 4 of the BHC Act (12 U.S.C. 1843), and interested persons 
may express their views in writing on the standards enumerated in 
section 4. Unless otherwise noted, nonbanking activities will be 
conducted throughout the United States.
    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 and Constitution Avenue 
NW, Washington, DC 20551-0001, not later than February 12, 2020.
    A. Federal Reserve Bank of Minneapolis (Chris P. Wangen, Assistant 
Vice President), 90 Hennepin Avenue, Minneapolis, Minnesota 55480-0291:
    1. L1 Holding Corporation, Minneapolis, Minnesota; to become a bank 
holding company by acquiring Eagle Community Bank, Maple Grove, 
Minnesota. In connection with this application, L1 Holding Corporation 
has applied to engage in mortgage lending activities by acquiring 
LeaderOne Financial Corporation, Overland Park, Kansas, pursuant to 
section 4 of the BHC Act.

    Board of Governors of the Federal Reserve System, January 8, 
2020.
Yao-Chin Chao,
Assistant Secretary of the Board.
[FR Doc. 2020-00278 Filed 1-10-20; 8:45 am]
 BILLING CODE P