Change in Bank Control Notices; Acquisitions of Shares of a Bank or Bank Holding Company, 15784 [2020-05759]
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15784
Federal Register / Vol. 85, No. 54 / Thursday, March 19, 2020 / Notices
jbell on DSKJLSW7X2PROD with NOTICES
Y–14 reports pursuant to section 5 of
the BHC Act, as well as pursuant to
sections 102(a)(1) and 165 of the DoddFrank Act (12 U.S.C. 5311(a)(1) and
5365).21 In addition, section 401(g) of
EGRRCPA (12 U.S.C. 5365 note)
provides that the Board has the
authority to establish enhanced
prudential standards for foreign banking
organizations with total consolidated
assets of $100 billion or more, and
clarifies that nothing in section 401
‘‘shall be construed to affect the legal
effect of the final rule of the Board . . .
entitled ‘Enhanced Prudential Standard
for [BHCs] and Foreign Banking
Organizations’ (79 FR 17240 (March 27,
2014)), as applied to foreign banking
organizations with total consolidated
assets equal to or greater than $100
million.’’ 22 The FR Y–14 reports are
mandatory. The information collected in
the FR Y–14 reports is collected as part
of the Board’s supervisory process, and
therefore, such information is afforded
confidential treatment pursuant to
exemption 8 of the Freedom of
Information Act (FOIA) (5 U.S.C.
552(b)(8)). In addition, confidential
commercial or financial information,
which a submitter actually and
customarily treats as private, and which
has been provided pursuant to an
express assurance of confidentiality by
the Board, is considered exempt from
disclosure under exemption 4 of the
FOIA (5 U.S.C. 552(b)(4)).23
21 Section 165(b)(2) of the Dodd-Frank Act (12
U.S.C. 5365(b)(2)) refers to ‘‘foreign-based bank
holding company.’’ Section 102(a)(1) of the DoddFrank Act (12 U.S.C. 5311(a)(1)) defines ‘‘bank
holding company’’ for purposes of Title I of the
Dodd-Frank Act to include foreign banking
organizations that are treated as bank holding
companies under section 8(a) of the International
Banking Act of 1978 (12 U.S.C. 3106(a)). The Board
has required, pursuant to section 165(b)(1)(B)(iv) of
the Dodd-Frank Act (12 U.S.C. 5365(b)(1)(B)(iv))
certain foreign banking organizations subject to
section 165 of the Dodd-Frank Act to form U.S.
intermediate holding companies. Accordingly, the
parent foreign-based organization of a U.S. IHC is
treated as a BHC for purposes of the BHC Act and
section 165 of the Dodd-Frank Act. Because Section
5(c) of the BHC Act authorizes the Board to require
reports from subsidiaries of BHCs, section 5(c)
provides additional authority to require U.S. IHCs
to report the information contained in the FR Y–
14 reports.
22 The Board’s Final Rule referenced in section
401(g) of EGRRCPA specifically stated that the
Board would require IHCs to file the FR Y–14
reports. See 79 FR 17240, 17304 (March 27, 2014).
23 Please note that the Board publishes a summary
of the results of the Board’s CCAR testing pursuant
to 12 CFR 225.8(f)(2)(v), and publishes a summary
of the results of the Board’s DFAST stress testing
pursuant to 12 CFR 252.46(b) and 12 CFR 238.134,
which includes aggregate data. In addition, under
the Board’s regulations, covered companies must
also publicly disclose a summary of the results of
the Board’s DFAST stress testing. See 12 CFR
252.58; 12 CFR 238.146. The public disclosure
requirement contained in 12 CFR 252.58 for
covered BHCs and covered IHCs is separately
VerDate Sep<11>2014
17:05 Mar 18, 2020
Jkt 250001
Consultation outside the agency:
There has been no consultation outside
the agency.
Board of Governors of the Federal Reserve
System, March 16, 2020.
Michele Taylor Fennell,
Assistant Secretary of the Board.
[FR Doc. 2020–05723 Filed 3–18–20; 8:45 am]
Board of Governors of the Federal Reserve
System, March 13, 2020.
Yao-Chin Chao,
Assistant Secretary of the Board.
[FR Doc. 2020–05684 Filed 3–18–20; 8:45 am]
BILLING CODE P
FEDERAL RESERVE SYSTEM
BILLING CODE 6210–01–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
CFR 225.41) to acquire shares of a bank
or bank holding company. The factors
that are considered in acting on the
applications 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
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 April 2, 2020.
A. Federal Reserve Bank of St. Louis
(David L. Hubbard, Senior Manager)
P.O. Box 442, St. Louis, Missouri
63166–2034. Comments can also be sent
electronically to
Comments.applications@stls.frb.org:
1. Aubrey Reed Cavett Deupree,
Atlanta, Georgia, and William Williams
Deupree III, Germantown, Tennessee,
individually and together as members of
a group acting in concert; to retain
voting shares of Commercial Holding
Company and thereby indirectly retain
voting shares of Commercial Bank and
Trust Company, both of Paris,
Tennessee.
accounted for by the Board in the Paperwork
Reduction Act clearance for FR YY (OMB No. 7100–
0350) and the public disclosure requirement for
covered SLHCs is separately accounted for in by the
Board in the Paperwork Reduction Act clearance for
FR LL (OMB No. 7100–NEW).
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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
applications 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
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 April 6, 2020.
A. Federal Reserve Bank of
Minneapolis (Chris P. Wangen,
Assistant Vice President), 90 Hennepin
Avenue, Minneapolis, Minnesota
55480–0291:
1. William S. Lewis, Hermantown,
Minnesota, individually and as cotrustee of the Western National Bank
and Affiliates Employee Stock
Ownership Plan (co-trustee, Stephen
Lewis), Duluth, Minnesota; to retain
voting shares of Western
Bancorporation, Inc., Duluth,
Minnesota, and thereby indirectly retain
voting shares of Cass Lake Company,
Cass Lake; Western National Bank,
Duluth; and Western National Bank of
Cass Lake, Cass Lake, all of Minnesota,
and to be approved as a member of the
Lewis family group, a group acting in
concert.
Board of Governors of the Federal Reserve
System, March 16, 2020.
Yao-Chin Chao,
Assistant Secretary of the Board.
[FR Doc. 2020–05759 Filed 3–18–20; 8:45 am]
BILLING CODE 6210–01–P
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[Federal Register Volume 85, Number 54 (Thursday, March 19, 2020)]
[Notices]
[Page 15784]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-05759]
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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
applications 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 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 April 6, 2020.
A. Federal Reserve Bank of Minneapolis (Chris P. Wangen, Assistant
Vice President), 90 Hennepin Avenue, Minneapolis, Minnesota 55480-0291:
1. William S. Lewis, Hermantown, Minnesota, individually and as co-
trustee of the Western National Bank and Affiliates Employee Stock
Ownership Plan (co-trustee, Stephen Lewis), Duluth, Minnesota; to
retain voting shares of Western Bancorporation, Inc., Duluth,
Minnesota, and thereby indirectly retain voting shares of Cass Lake
Company, Cass Lake; Western National Bank, Duluth; and Western National
Bank of Cass Lake, Cass Lake, all of Minnesota, and to be approved as a
member of the Lewis family group, a group acting in concert.
Board of Governors of the Federal Reserve System, March 16,
2020.
Yao-Chin Chao,
Assistant Secretary of the Board.
[FR Doc. 2020-05759 Filed 3-18-20; 8:45 am]
BILLING CODE 6210-01-P
