Notice of Proposals To Engage in or To Acquire Companies Engaged in Permissible Nonbanking Activities, 18240 [2020-06814]
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18240
Federal Register / Vol. 85, No. 63 / Wednesday, April 1, 2020 / Notices
changes in past due and nonaccrual
home equity credits and charge-offs and
recoveries of such credits warrant
supervisory follow-up. To provide time
needed for any systems changes, the
Board will implement this new
memorandum item as of the March 31,
2021.
Board of Governors of the Federal Reserve
System, March 27, 2020.
Ann Misback,
Secretary of the Board.
FEDERAL RESERVE SYSTEM
[FR Doc. 2020–06753 Filed 3–31–20; 8:45 am]
AGENCY:
Timing
As stated in the December 2019
notice, the Board planned to make the
capital-related reporting changes
described above to be effective the same
quarters as the effective dates of the
various final capital rules discussed in
this notice. Thus, the reporting revisions
to the FR Y–9C, as applicable, will take
effect March 31, 2020, for the capital
simplifications rule and the community
bank leverage ratio rule. Non-advanced
approaches institutions may elect to
wait to adopt the capital simplifications
rule for reporting purposes until the
June 30, 2020, report date. The reporting
revisions to the FR Y–9C, as applicable,
will take effect June 30, 2020, for the
standardized approach for counterparty
credit risk on derivative contracts final
rule and the high volatility commercial
real estate exposures final rule.
However, the mandatory compliance
date for reporting in accordance with
the standardized approach for
counterparty credit risk final rule is the
March 31, 2022, report date.
In addition, the reporting of operating
lease liabilities as ‘‘All other liabilities’’
in FR Y–9C will take effect March 31,
2020, and the change in the reporting of
construction, land development, and
other land loans with interest reserves
in FR Y–9 Schedule HC–C, Part I, will
take effect March 31, 2021. The
requirement to continue reporting
HELOCs that convert to closed-end
status as open-end loans in Schedule
HC–C, Part I, will apply to those
HELOCs that convert on or after January
1, 2021, with pre-2021 conversions
subject to the transition guidance
described in Section II.I. above; new
Memorandum item 15 in Schedule HC–
C, for HELOCs in non-revolving closedend status that are reported as open-end
loans will take effect March 31, 2021.
The specific wording of the captions
for the new or revised FR Y–9C data
items discussed in this notice and the
numbering of these data items should be
regarded as preliminary, and may be
changed prior to the effective date of
these items.
FEDERAL RESERVE SYSTEM
Proposed Revisions to the FR Y–9CS
The Board proposed to revise the FR
Y–9CS to clarify that response to the
report is voluntary. No comments were
received during the comment period.
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BILLING CODE 6210–01–P
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
other company, in a nonbanking activity
that is listed in § 225.28 of Regulation Y
(12 CFR 225.28) or that the Board has
determined by Order to be closely
related to banking and permissible for
bank holding companies. Unless
otherwise noted, these activities will be
conducted throughout the United States.
Each application is available for
inspection at the Federal Reserve Bank
indicated. The application also will be
available for inspection at the offices of
the Board of Governors. Interested
persons may express their views in
writing on the question whether the
proposal complies with the standards of
section 4 of the BHC Act.
Unless otherwise noted, comments
regarding the 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 May 1, 2020.
A. Federal Reserve Bank of New York
(Ivan Hurwitz, Senior Vice President) 33
Liberty Street, New York, New York
10045–0001. Comments can also be sent
electronically to
Comments.applications@ny.frb.org:
1. Morgan Stanley, New York, New
York; to acquire E*TRADE Financial
Corporation, and thereby indirectly
acquire E*TRADE Bank and E*TRADE
Savings Bank, all of Arlington, Virginia,
and thereby operate savings
associations, pursuant to Section 4(c)(8)
of the BHC Act.
Board of Governors of the Federal Reserve
System, March 27, 2020.
Yao-Chin Chao,
Assistant Secretary of the Board.
[FR Doc. 2020–06814 Filed 3–31–20; 8:45 am]
BILLING CODE P
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Privacy Act of 1974; System of
Records
Board of Governors of the
Federal Reserve System.
ACTION: Notice of a New System of
Records.
Pursuant to the provisions of
the Privacy Act of 1974, notice is given
that the Board of Governors of the
Federal Reserve System (Board)
proposes to establish a new system of
records, BGFRS–43, ‘‘FRB—Security
Sharing Platform.’’
DATES: Comments must be received on
or before May 1, 2020. This new system
of records will become effective May 1,
2020, without further notice, unless
comments dictate otherwise.
The Office of Management and Budget
(OMB), which has oversight
responsibility under the Privacy Act,
requires a 30-day period prior to
publication in the Federal Register in
which to review the system and to
provide any comments to the agency.
The public is then given a 30-day period
in which to comment, in accordance
with 5 U.S.C. 552a(e)(4) and (11).
ADDRESSES: You may submit comments,
identified by BGFRS–43 ‘‘FRB—Security
Sharing Platform,’’ by any of the
following methods:
• Agency Website: https://
www.federalreserve.gov. Follow the
instructions for submitting comments at
https://www.federalreserve.gov/apps/
foia/proposedregs.aspx.
• Email: regs.comments@
federalreserve.gov. Include SORN name
and number in the subject line of the
message.
• Fax: (202) 452–3819 or (202) 452–
3102.
• Mail: Ann E. Misback, Secretary,
Board of Governors of the Federal
Reserve System, 20th Street and
Constitution Avenue NW, Washington,
DC 20551.
All public comments will be made
available on the Board’s website at
https://www.federalreserve.gov/apps/
foia/proposedregs.aspx as submitted,
unless modified for technical reasons or
to remove sensitive personally
identifiable information. Public
comments may also be viewed
electronically or in paper in Room 146,
1709 New York Avenue NW,
Washington, DC 20006, between 9:00
a.m. and 5:00 p.m. on weekdays.
FOR FURTHER INFORMATION CONTACT:
David B. Husband, Counsel, (202) 530–
6270, or david.b.husband@frb.gov; Legal
Division, Board of Governors of the
Federal Reserve System, 20th Street and
SUMMARY:
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01APN1
]]>Agencies
[Federal Register Volume 85, Number 63 (Wednesday, April 1, 2020)]
[Notices]
[Page 18240]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-06814]
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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 other company, in a nonbanking activity that is listed in
Sec. 225.28 of Regulation Y (12 CFR 225.28) or that the Board has
determined by Order to be closely related to banking and permissible
for bank holding companies. Unless otherwise noted, these activities
will be conducted throughout the United States.
Each application is available for inspection at the Federal Reserve
Bank indicated. The application also will be available for inspection
at the offices of the Board of Governors. Interested persons may
express their views in writing on the question whether the proposal
complies with the standards of section 4 of the BHC Act.
Unless otherwise noted, comments regarding the 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 May
1, 2020.
A. Federal Reserve Bank of New York (Ivan Hurwitz, Senior Vice
President) 33 Liberty Street, New York, New York 10045-0001. Comments
can also be sent electronically to [email protected]:
1. Morgan Stanley, New York, New York; to acquire E*TRADE Financial
Corporation, and thereby indirectly acquire E*TRADE Bank and E*TRADE
Savings Bank, all of Arlington, Virginia, and thereby operate savings
associations, pursuant to Section 4(c)(8) of the BHC Act.
Board of Governors of the Federal Reserve System, March 27,
2020.
Yao-Chin Chao,
Assistant Secretary of the Board.
[FR Doc. 2020-06814 Filed 3-31-20; 8:45 am]
BILLING CODE P
