Proposed Agency Information Collection Activities; Comment Request, 19944-19947 [2020-07455]

Download as PDF 19944 Federal Register / Vol. 85, No. 69 / Thursday, April 9, 2020 / Notices Federal Deposit Insurance Corporation. Dated at Washington, DC, on April 6, 2020. Robert E. Feldman, Executive Secretary. [FR Doc. 2020–07480 Filed 4–8–20; 8:45 am] BILLING CODE 6714–01–P FEDERAL ELECTION COMMISSION 12-day Pre-General Report, and a 30-day Post-General Report. FOR FURTHER INFORMATION CONTACT: Ms. Elizabeth S. Kurland, Information Division, 1050 First Street NE, Washington, DC 20463; Telephone: (202) 694–1100; Toll Free (800) 424– 9530. SUPPLEMENTARY INFORMATION: Federal Election Commission. Notice of filing dates for special election. Principal Campaign Committees All principal campaign committees of candidates who participate in the New York Special General Election shall file a 12-day Pre-General Report on June 11, 2020, and a 30-day Post-General Report on July 23, 2020. (See chart below for the closing date for each report.) New York has rescheduled the date of the Special General Election to fill the U.S. House of Representatives seat in the 27th Congressional District vacated by Representative Chris Collins. The Special General Election, formerly set for April 28, 2020, will now be held on June 23, 2020. Committees required to file reports in connection with the Special General Election on June 23, 2020, shall file a Unauthorized Committees (PACs and Party Committees) Political committees not filing monthly in 2020 are subject to special election reporting if they make previously undisclosed contributions or expenditures in connection with the New York Special General Election by the close of books for the applicable report(s). (See chart below for the closing date for each report.) [NOTICE 2020–04] Filing Dates for the New York Special Election in the 27th Congressional District AGENCY: ACTION: SUMMARY: Committees filing monthly that make contributions or expenditures in connection with the New York Special General Election will continue to file according to the monthly reporting schedule. Additional disclosure information in connection with the New York Special Election may be found on the FEC website at https://www.fec.gov/helpcandidates-and-committees/dates-anddeadlines/. Disclosure of Lobbyist Bundling Activity Principal campaign committees, party committees and leadership PACs that are otherwise required to file reports in connection with the special election must simultaneously file FEC Form 3L if they receive two or more bundled contributions from lobbyists/registrants or lobbyist/registrant PACs that aggregate in excess of $19,000 during the special election reporting period. (See chart below for closing date of each period.) 11 CFR 104.22(a)(5)(v), (b), 110.17(e)(2), (f). CALENDAR OF REPORTING DATES FOR NEW YORK SPECIAL ELECTION Close of Books 1 Report Reg./cert. & overnight mailing deadline Filing deadline Committees Involved in the Special General (06/23/2020) Must File: Pre-General ............................................................................................................... 06/03/2020 July Quarterly ............................................................................................................. Post-General .............................................................................................................. October Quarterly ...................................................................................................... 06/08/2020 06/11/2020 —WAIVED — 07/13/2020 09/30/2020 07/23/2020 10/15/2020 07/23/2020 10/15/2020 1 The reporting period always begins the day after the closing date of the last report filed. If the committee is new and has not previously filed a report, the first report must cover all activity that occurred before the committee registered as a political committee up through the close of books for the first report due. Dated: April 2, 2020. On behalf of the Commission. Caroline C. Hunter, Chair, Federal Election Commission. [FR Doc. 2020–07447 Filed 4–8–20; 8:45 am] BILLING CODE 6715–01–P khammond on DSKJM1Z7X2PROD with NOTICES FEDERAL RESERVE SYSTEM Proposed Agency Information Collection Activities; Comment Request Board of Governors of the Federal Reserve System. ACTION: Temporary approval of information collection, request for comment. AGENCY: VerDate Sep<11>2014 16:28 Apr 08, 2020 Jkt 250001 The Board of Governors of the Federal Reserve System (Board) has temporarily revised the Financial Statements for Holding Companies (FR Y–9; OMB No. 7100–0128) pursuant to the authority delegated to the Board by the Office of Management and Budget (OMB), (OMB Regulations on Controlling Paperwork Burdens on the Public). The revisions are applicable only to reports reflecting the March 31, 2020, as of date. Additionally, the Board invites comment on a proposal to extend for three years, with revision, the FR Y–9. DATES: Comments must be submitted on or before June 8, 2020. ADDRESSES: You may submit comments, identified by FR Y–9, by any of the following methods: SUMMARY: PO 00000 Frm 00025 Fmt 4703 Sfmt 4703 • 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 the OMB 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 are available from the Board’s website at https:// www.federalreserve.gov/apps/foia/ proposedregs.aspx as submitted, unless E:\FR\FM\09APN1.SGM 09APN1 khammond on DSKJM1Z7X2PROD with NOTICES Federal Register / Vol. 85, No. 69 / Thursday, April 9, 2020 / Notices modified for technical reasons or to remove personally identifiable information at the commenter’s request. Accordingly, comments will not be edited to remove any identifying or contact 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 security reasons, the Board requires that visitors make an appointment to inspect comments. You may do so by calling (202) 452–3684. Upon arrival, visitors will be required to present valid government-issued photo identification and to submit to security screening in order to inspect and photocopy comments. Additionally, commenters may send a copy of their comments to the 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. FOR FURTHER INFORMATION CONTACT: 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, if approved. These documents will also be made available on the 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 below. 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. 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. In exercising this delegated authority, the Board is directed to take every reasonable step to solicit comment. In determining whether to approve a collection of information, the Board will consider all comments received from the public and other agencies. Pursuant to its delegated authority, the Board may temporarily approve a revision to a collection of information, without providing opportunity for public comment, if the Board determines that a change in an existing collection must be instituted quickly and that public participation in the approval process would defeat the VerDate Sep<11>2014 16:28 Apr 08, 2020 Jkt 250001 purpose of the collection or substantially interfere with the Board’s ability to perform its statutory obligation. As discussed below, the Board has made certain temporary revisions to the FR Y–9 information collection. The Board’s delegated authority requires that the Board, after temporarily approving a collection, publish a notice soliciting public comment. Therefore, the Board also inviting comment on a proposal to extend the FR Y–9 information collection for three years, with these revisions. Request for Comment on Information Collection Proposal The Board invites public comment on the following information collection, which is being reviewed under authority delegated by the OMB under the PRA. Comments are invited on the following: a. Whether the proposed collection of information is necessary for the proper performance of the Board’s functions, including whether the information has practical utility; b. The accuracy of the Board’s estimate of the burden of the proposed information collection, including the validity of the methodology and assumptions used; c. Ways to enhance the quality, utility, and clarity of the information to be collected; d. Ways to minimize the burden of information collection on respondents, including through the use of automated collection techniques or other forms of information technology; and e. Estimates of capital or startup costs and costs of operation, maintenance, and purchase of services to provide information. At the end of the comment period, the comments and recommendations received will be analyzed to determine the extent to which the Board should modify the proposal. Approval Under OMB Delegated Authority of the Temporary Revision of the Following Information Collection Report title: Financial Statements for Holding Companies. Agency form number: FR Y–9C; FR Y– 9LP; FR Y–9SP; FR Y–9ES; FR Y–9CS. OMB control number: 7100–0128. Frequency: Quarterly, semiannually, and annually. Respondents: Bank holding companies (BHCs), savings and loan holding companies (SLHCs), securities holding companies (SHCs), and U.S. intermediate holding companies (IHCs) PO 00000 Frm 00026 Fmt 4703 Sfmt 4703 19945 (collectively, holding companies (HCs)).1 Estimated number of respondents: FR Y–9C (non-advanced approaches (AA) HCs community bank leverage ratio (CBLR)) with less than $5 billion in total assets—71, FR Y–9C (non AA HCs CBLR) with $5 billion or more in total assets—35, FR Y–9C (non AA HCs non-CBLR) with less than $5 billion in total assets—84, FR Y–9C (non AA HCs non-CBLR) with $5 billion or more in total assets—154, FR Y–9C (AA HCs)— 19, FR Y–9LP—434, FR Y–9SP—3,960, FR Y–9ES—83, FR Y–9CS—236. Estimated average hours per response: Reporting FR Y–9C (non AA HCs CBLR) with less than $5 billion in total assets— 29.14, FR Y–9C (non AA HCs CBLR) with $5 billion or more in total assets— 35.11, FR Y–9C (non AA HCs nonCBLR) with less than $5 billion in total assets—40.98, FR Y–9C (non AA HCs non-CBLR) with $5 billion or more in total assets—46.95, FR Y–9C (AA HCs)—48.59, FR Y–9LP—5.27, FR Y– 9SP—5.40, FR Y–9ES—0.50, FR Y– 9CS—0.50. Recordkeeping FR Y–9C—1, FR Y–9LP—1, FR Y– 9SP—0.50, FR Y–9ES—0.50, FR Y– 9CS—0.50. Estimated annual burden hours: Reporting FR Y–9C (non AA HCs CBLR) with less than $5 billion in total assets— 8,276, FR Y–9C (non AA HCs CBLR) with $5 billion or more in total assets— 4,915, FR Y–9C (non AA HCs nonCBLR) with less than $5 billion in total assets—13,769, FR Y–9C (non AA HCs non-CBLR) with $5 billion or more in total assets—28,921, FR Y–9C (AA HCs)—3,693, FR Y–9LP—9,149, FR Y– 9SP—42,768, FR Y–9ES—42, FR Y– 9CS—472. Recordkeeping FR Y–9C—1,452, FR Y–9LP—1,736, FR Y–9SP—3,960, FR Y–9ES—42, FR Y–9CS—472. General description of report: The FR Y–9 family of reporting forms continues to be the primary source of financial data on holding companies that examiners rely on in the intervals between on-site inspections. Financial 1 An SLHC must file one or more of the FR Y– 9 family of reports unless it is: (1) A grandfathered unitary SLHC with primarily commercial assets and thrifts that make up less than five percent of its consolidated assets; or (2) a SLHC that primarily holds insurance-related assets and does not otherwise submit financial reports with the SEC pursuant to section 13 or 15(d) of the Securities Exchange Act of 1934. E:\FR\FM\09APN1.SGM 09APN1 khammond on DSKJM1Z7X2PROD with NOTICES 19946 Federal Register / Vol. 85, No. 69 / Thursday, April 9, 2020 / Notices data from these reporting forms are used to detect emerging financial problems, to review performance and conduct preinspection analysis, to monitor and evaluate capital adequacy, to evaluate holding company mergers and acquisitions, and to analyze a holding company’s overall financial condition to ensure the safety and soundness of its operations. The FR Y–9C, FR Y–9LP, and FR Y–9SP serve as standardized financial statements for the consolidated holding company. The Board requires HCs to provide standardized financial statements to fulfill the Board’s statutory obligation to supervise these organizations. The FR Y–9ES is a financial statement for HCs that are Employee Stock Ownership Plans. The Board uses the FR Y–9CS (a free-form supplement) to collect additional information deemed to be critical and needed in an expedited manner. HCs file the FR Y–9C on a quarterly basis, the FR Y–9LP quarterly, the FR Y–9SP semiannually, the FR Y–9ES annually, and the FR Y–9CS on a schedule that is determined when this supplement is used. Current Action: The Board has temporarily revised the instructions to the FR–9C to allow HCs to incorporate the effects of the Money Market Mutual Fund Liquidity Facility (MMLF) interim final rule published on March 23, 2020, for the FR Y–9C submission reflecting the March 31, 2020, as-of date.2 The revised instructions reflect the exclusion of non-recourse exposures acquired from the MMLF from an HC’s total leverage exposure, average total consolidated assets, advanced approaches total risk weighted assets, and standardized total risk weighted assets, as applicable. Specifically, the revised instructions permit eligible HCs to assign a zero percent risk weight to exposures to the MMLF for purposes of determining the risk weighted assets and leverage ratio. HCs would report these securities purchased from the MMLF in either Schedule HC–R, Part II, item 2.a., ‘‘Held-to-maturity securities,’’ or Schedule HC–R, Part II, item 2.b., ‘‘Available-for-sale debt securities and equity securities with readily determinable fair values not held for trading,’’ as appropriate, in both Column A (Totals) and Column C (0 percent risk weight category).3 The average of such assets purchased would be reported in Schedule HC–R, part I, 2 See 85 FR 16232 (March 23, 2020). These revisions apply only to respondents HCs that are BHCs (including IHCs that are BHCs); other HCs are not eligible to participate in the MMLF. 3 Reporting in Schedule HC–R, Part II, only applies to non CBLR holding companies. See 84 FR 61776 (November 13, 2019). VerDate Sep<11>2014 16:28 Apr 08, 2020 Jkt 250001 item 29, ‘‘LESS: Other deductions from (additions to) assets for leverage ratio purposes,’’ and thus excluded from Schedule HC–R, item 30, ‘‘Total assets for the leverage ratio.’’ The Board has determined that these temporary revisions to the FR Y–9C must be instituted quickly and that public participation in the approval process would defeat the purpose of the collection of information, as delaying the revisions would result in the collection of inaccurate information, would interfere with the Board’s ability to perform its statutory duties, and would cause public harm by preventing HCs from utilizing the MMLF without neutralizing the effects of exposures arising from the program on the organizations’ reported risk-based and leverage capital ratios. Additionally, the Board proposes to extend the FR Y–9 for three years, with the revisions discussed above, in order to permit continued accurate reporting of capital data. Legal authorization and confidentiality: The Board has the authority to impose the reporting and recordkeeping requirements associated with the FR Y–9 family of reports on BHCs pursuant to section 5 of the Bank Holding Company Act of 1956 (BHC Act) (12 U.S.C. 1844); on SLHCs pursuant to section 10(b)(2) and (3) of the Home Owners’ Loan Act (12 U.S.C. 1467a(b)(2) and (3)), as amended by sections 369(8) and 604(h)(2) of the Dodd-Frank Wall Street and Consumer Protection Act (Dodd-Frank Act); on U.S. IHCs pursuant to section 5 of the BHC Act (12 U.S.C 1844), as well as pursuant to sections 102(a)(1) and 165 of the Dodd-Frank Act (12 U.S.C. 511(a)(1) and 5365); and on securities holding companies pursuant to section 618 of the Dodd-Frank Act (12 U.S.C. 1850a(c)(1)(A)). The obligation to submit the FR Y–9 series of reports, and the recordkeeping requirements set forth in the respective instructions to each report, are mandatory. With respect to the FR Y–9C report, Schedule HI’s memoranda data item 7(g) ‘‘FDIC deposit insurance assessments,’’ Schedule HC–P’s data item 7(a) ‘‘Representation and warranty reserves for 1–4 family residential mortgage loans sold to U.S. government agencies and government sponsored agencies,’’ and Schedule HC–P’s data item 7(b) ‘‘Representation and warranty reserves for 1–4 family residential mortgage loans sold to other parties’’ are considered confidential commercial and financial information. Such treatment is appropriate under exemption 4 of the Freedom of Information Act (FOIA) (5 U.S.C. 552(b)(4)) because these data PO 00000 Frm 00027 Fmt 4703 Sfmt 4703 items reflect commercial and financial information that is both customarily and actually treated as private by the submitter, and which the Board has previously assured submitters will be treated as confidential. It also appears that disclosing these data items may reveal confidential examination and supervisory information, and in such instances, this information would also be withheld pursuant to exemption 8 of the FOIA (5 U.S.C. 552(b)(8)), which protects information related to the supervision or examination of a regulated financial institution. In addition, for both the FR Y–9C report and the FR Y–9SP report, Schedule HC’s memorandum item 2.b., the name and email address of the external auditing firm’s engagement partner, is considered confidential commercial information and protected by exemption 4 of the FOIA (5 U.S.C. 552(b)(4)) if the identity of the engagement partner is treated as private information by HCs. The Board has assured respondents that this information will be treated as confidential since the collection of this data item was proposed in 2004. Aside from the data items described above, the remaining data items on the FR Y–9C report and the FR Y–9SP report are generally not accorded confidential treatment. The data items collected on FR Y–9LP, FR Y–9ES, and FR Y–9CS reports, are also generally not accorded confidential treatment. As provided in the Board’s Rules Regarding Availability of Information (12 CFR part 261), however, a respondent may request confidential treatment for any data items the respondent believes should be withheld pursuant to a FOIA exemption. The Board will review any such request to determine if confidential treatment is appropriate, and will inform the respondent if the request for confidential treatment has been denied. To the extent the instructions to the FR Y–9C, FR Y–9LP, FR Y–9SP, and FR Y–9ES reports each respectively direct the financial institution to retain the workpapers and related materials used in preparation of each report, such material would only be obtained by the Board as part of the examination or supervision of the financial institution. Accordingly, such information is considered confidential pursuant to exemption 8 of the FOIA (5 U.S.C. 552(b)(8)). In addition, the workpapers and related materials may also be protected by exemption 4 of the FOIA, to the extent such financial information is treated as confidential by the respondent (5 U.S.C. 552(b)(4)). Consultation outside the agency: The Federal Reserve consulted with the E:\FR\FM\09APN1.SGM 09APN1 Federal Register / Vol. 85, No. 69 / Thursday, April 9, 2020 / Notices Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation in the development of this proposal. Board of Governors of the Federal Reserve System, April 3, 2020. Yao-Chin Chao, Assistant Secretary of the Board. Board of Governors of the Federal Reserve System, April 3, 2020. Michele Taylor Fennell, Assistant Secretary of the Board. [FR Doc. 2020–07415 Filed 4–8–20; 8:45 am] [FR Doc. 2020–07455 Filed 4–8–20; 8:45 am] FEDERAL RESERVE SYSTEM FEDERAL RESERVE SYSTEM 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, 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 the BHC Act (12 U.S.C. 1842(c)). 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 Street and Constitution Avenue NW, Washington, DC 20551–0001, not later than May 8, 2020. A. Federal Reserve Bank of Dallas (Robert L. Triplett III, Senior Vice President) 2200 North Pearl Street, Dallas, Texas 75201–2272: 1. Dry Lake Financial, LLC, Spur, Texas; to become a bank holding company by acquiring up to 51 percent of the voting shares of Espuela Bank Shares, Inc., and thereby indirectly acquire voting shares of Spur Security Bank, both of Spur, Texas. VerDate Sep<11>2014 16:28 Apr 08, 2020 Jkt 250001 [File No. 192 3011] Tapplock, Inc.; Analysis To Aid Public Comment Federal Trade Commission. Proposed consent agreement; request for comment. ACTION: Formations of, Acquisitions by, and Mergers of Bank Holding Companies 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 Street and Constitution Avenue NW, Washington, DC 20551–0001, not later than April 23, 2020. A. Federal Reserve Bank of Kansas City (Dennis Denney, Assistant Vice President) 1 Memorial Drive, Kansas City, Missouri 64198–0001: 1. Jeffrey L. Dickey, Weatherford, Oklahoma; Brian R. Dickey, Oklahoma City, Oklahoma; Ranee E. Bugh, Tulsa, Oklahoma; and the David R. Dickey Family Financial Services Trust, Thomas, Oklahoma, Jeffrey L. Dickey, Brian R. Dickey, and Ranee E. Bugh, as co-trustees; as members of the David Dickey Family Group, to retain voting shares of First Thomas Ban Corp. and thereby indirectly retain voting shares of First Bank of Thomas, both of Thomas, Oklahoma. FEDERAL TRADE COMMISSION AGENCY: BILLING CODE 6210–01–P Change in Bank Control Notices; Acquisitions of Shares of a Bank or Bank Holding Company khammond on DSKJM1Z7X2PROD with NOTICES BILLING CODE 6210–01–P 19947 Board of Governors of the Federal Reserve System, April 3, 2020. Yao-Chin Chao, Assistant Secretary of the Board. [FR Doc. 2020–07416 Filed 4–8–20; 8:45 am] BILLING CODE 6210–01–P PO 00000 Frm 00028 Fmt 4703 Sfmt 4703 The consent agreement in this matter settles alleged violations of federal law prohibiting unfair or deceptive acts or practices. The attached Analysis to Aid Public Comment describes both the allegations in the complaint and the terms of the consent order—embodied in the consent agreement—that would settle these allegations. SUMMARY: Comments must be received on or before May 11, 2020. ADDRESSES: Interested parties may file comments online or on paper, by following the instructions in the Request for Comment part of the SUPPLEMENTARY INFORMATION section below. Write ‘‘Tapplock, Inc.; File No. 192 3011’’ on your comment, and file your comment online at https:// www.regulations.gov by following the instructions on the web-based form. If you prefer to file your comment on paper, mail your comment to the following address: Federal Trade Commission, Office of the Secretary, 600 Pennsylvania Avenue NW, Suite CC–5610 (Annex D), Washington, DC 20580, or deliver your comment to the following address: Federal Trade Commission, Office of the Secretary, Constitution Center, 400 7th Street SW, 5th Floor, Suite 5610 (Annex D), Washington, DC 20024. FOR FURTHER INFORMATION CONTACT: Jared Ho (202–326–3463), Bureau of Consumer Protection, Federal Trade Commission, 600 Pennsylvania Avenue NW, Washington, DC 20580. SUPPLEMENTARY INFORMATION: Pursuant to Section 6(f) of the Federal Trade Commission Act, 15 U.S.C. 46(f), and FTC Rule 2.34, 16 CFR 2.34, notice is hereby given that the above-captioned consent agreement containing a consent order to cease and desist, having been filed with and accepted, subject to final approval, by the Commission, has been placed on the public record for a period of thirty (30) days. The following Analysis to Aid Public Comment describes the terms of the consent agreement and the allegations in the complaint. An electronic copy of the full text of the consent agreement package can be obtained from the FTC website (for March 30, 2020), at this web DATES: E:\FR\FM\09APN1.SGM 09APN1

Agencies

[Federal Register Volume 85, Number 69 (Thursday, April 9, 2020)]
[Notices]
[Pages 19944-19947]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-07455]


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FEDERAL RESERVE SYSTEM


Proposed Agency Information Collection Activities; Comment 
Request

AGENCY: Board of Governors of the Federal Reserve System.

ACTION: Temporary approval of information collection, request for 
comment.

-----------------------------------------------------------------------

SUMMARY: The Board of Governors of the Federal Reserve System (Board) 
has temporarily revised the Financial Statements for Holding Companies 
(FR Y-9; OMB No. 7100-0128) pursuant to the authority delegated to the 
Board by the Office of Management and Budget (OMB), (OMB Regulations on 
Controlling Paperwork Burdens on the Public). The revisions are 
applicable only to reports reflecting the March 31, 2020, as of date. 
Additionally, the Board invites comment on a proposal to extend for 
three years, with revision, the FR Y-9.

DATES: Comments must be submitted on or before June 8, 2020.

ADDRESSES: You may submit comments, identified by FR Y-9, 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: [email protected]. Include the OMB 
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 are available from the Board's website at 
https://www.federalreserve.gov/apps/foia/proposedregs.aspx as 
submitted, unless

[[Page 19945]]

modified for technical reasons or to remove personally identifiable 
information at the commenter's request. Accordingly, comments will not 
be edited to remove any identifying or contact 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 security reasons, the Board requires that 
visitors make an appointment to inspect comments. You may do so by 
calling (202) 452-3684. Upon arrival, visitors will be required to 
present valid government-issued photo identification and to submit to 
security screening in order to inspect and photocopy comments.
    Additionally, commenters may send a copy of their comments to the 
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.

FOR FURTHER INFORMATION CONTACT: 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, if approved. These documents will also be made 
available on the 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 below.
    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.

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. In 
exercising this delegated authority, the Board is directed to take 
every reasonable step to solicit comment. In determining whether to 
approve a collection of information, the Board will consider all 
comments received from the public and other agencies. Pursuant to its 
delegated authority, the Board may temporarily approve a revision to a 
collection of information, without providing opportunity for public 
comment, if the Board determines that a change in an existing 
collection must be instituted quickly and that public participation in 
the approval process would defeat the purpose of the collection or 
substantially interfere with the Board's ability to perform its 
statutory obligation.
    As discussed below, the Board has made certain temporary revisions 
to the FR Y-9 information collection. The Board's delegated authority 
requires that the Board, after temporarily approving a collection, 
publish a notice soliciting public comment. Therefore, the Board also 
inviting comment on a proposal to extend the FR Y-9 information 
collection for three years, with these revisions.

Request for Comment on Information Collection Proposal

    The Board invites public comment on the following information 
collection, which is being reviewed under authority delegated by the 
OMB under the PRA. Comments are invited on the following:
    a. Whether the proposed collection of information is necessary for 
the proper performance of the Board's functions, including whether the 
information has practical utility;
    b. The accuracy of the Board's estimate of the burden of the 
proposed information collection, including the validity of the 
methodology and assumptions used;
    c. Ways to enhance the quality, utility, and clarity of the 
information to be collected;
    d. Ways to minimize the burden of information collection on 
respondents, including through the use of automated collection 
techniques or other forms of information technology; and
    e. Estimates of capital or startup costs and costs of operation, 
maintenance, and purchase of services to provide information.
    At the end of the comment period, the comments and recommendations 
received will be analyzed to determine the extent to which the Board 
should modify the proposal.

Approval Under OMB Delegated Authority of the Temporary Revision of the 
Following Information Collection

    Report title: Financial Statements for Holding Companies.
    Agency form number: FR Y-9C; FR Y-9LP; FR Y-9SP; FR Y-9ES; FR Y-
9CS.
    OMB control number: 7100-0128.
    Frequency: Quarterly, semiannually, and annually.
    Respondents: Bank holding companies (BHCs), savings and loan 
holding companies (SLHCs), securities holding companies (SHCs), and 
U.S. intermediate holding companies (IHCs) (collectively, holding 
companies (HCs)).\1\
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    \1\ An SLHC must file one or more of the FR Y-9 family of 
reports unless it is: (1) A grandfathered unitary SLHC with 
primarily commercial assets and thrifts that make up less than five 
percent of its consolidated assets; or (2) a SLHC that primarily 
holds insurance-related assets and does not otherwise submit 
financial reports with the SEC pursuant to section 13 or 15(d) of 
the Securities Exchange Act of 1934.
---------------------------------------------------------------------------

    Estimated number of respondents:
    FR Y-9C (non-advanced approaches (AA) HCs community bank leverage 
ratio (CBLR)) with less than $5 billion in total assets--71, FR Y-9C 
(non AA HCs CBLR) with $5 billion or more in total assets--35, FR Y-9C 
(non AA HCs non-CBLR) with less than $5 billion in total assets--84, FR 
Y-9C (non AA HCs non-CBLR) with $5 billion or more in total assets--
154, FR Y-9C (AA HCs)--19, FR Y-9LP--434, FR Y-9SP--3,960, FR Y-9ES--
83, FR Y-9CS--236.
    Estimated average hours per response:

Reporting

    FR Y-9C (non AA HCs CBLR) with less than $5 billion in total 
assets--29.14, FR Y-9C (non AA HCs CBLR) with $5 billion or more in 
total assets--35.11, FR Y-9C (non AA HCs non-CBLR) with less than $5 
billion in total assets--40.98, FR Y-9C (non AA HCs non-CBLR) with $5 
billion or more in total assets--46.95, FR Y-9C (AA HCs)--48.59, FR Y-
9LP--5.27, FR Y-9SP--5.40, FR Y-9ES--0.50, FR Y-9CS--0.50.

Recordkeeping

    FR Y-9C--1, FR Y-9LP--1, FR Y-9SP--0.50, FR Y-9ES--0.50, FR Y-9CS--
0.50.
    Estimated annual burden hours:

Reporting

    FR Y-9C (non AA HCs CBLR) with less than $5 billion in total 
assets--8,276, FR Y-9C (non AA HCs CBLR) with $5 billion or more in 
total assets--4,915, FR Y-9C (non AA HCs non-CBLR) with less than $5 
billion in total assets--13,769, FR Y-9C (non AA HCs non-CBLR) with $5 
billion or more in total assets--28,921, FR Y-9C (AA HCs)--3,693, FR Y-
9LP--9,149, FR Y-9SP--42,768, FR Y-9ES--42, FR Y-9CS--472.

Recordkeeping

    FR Y-9C--1,452, FR Y-9LP--1,736, FR Y-9SP--3,960, FR Y-9ES--42, FR 
Y-9CS--472.
    General description of report: The FR Y-9 family of reporting forms 
continues to be the primary source of financial data on holding 
companies that examiners rely on in the intervals between on-site 
inspections. Financial

[[Page 19946]]

data from these reporting forms are used to detect emerging financial 
problems, to review performance and conduct pre-inspection analysis, to 
monitor and evaluate capital adequacy, to evaluate holding company 
mergers and acquisitions, and to analyze a holding company's overall 
financial condition to ensure the safety and soundness of its 
operations. The FR Y-9C, FR Y-9LP, and FR Y-9SP serve as standardized 
financial statements for the consolidated holding company. The Board 
requires HCs to provide standardized financial statements to fulfill 
the Board's statutory obligation to supervise these organizations. The 
FR Y-9ES is a financial statement for HCs that are Employee Stock 
Ownership Plans. The Board uses the FR Y-9CS (a free-form supplement) 
to collect additional information deemed to be critical and needed in 
an expedited manner. HCs file the FR Y-9C on a quarterly basis, the FR 
Y-9LP quarterly, the FR Y-9SP semiannually, the FR Y-9ES annually, and 
the FR Y-9CS on a schedule that is determined when this supplement is 
used.
    Current Action: The Board has temporarily revised the instructions 
to the FR-9C to allow HCs to incorporate the effects of the Money 
Market Mutual Fund Liquidity Facility (MMLF) interim final rule 
published on March 23, 2020, for the FR Y-9C submission reflecting the 
March 31, 2020, as-of date.\2\ The revised instructions reflect the 
exclusion of non-recourse exposures acquired from the MMLF from an HC's 
total leverage exposure, average total consolidated assets, advanced 
approaches total risk weighted assets, and standardized total risk 
weighted assets, as applicable. Specifically, the revised instructions 
permit eligible HCs to assign a zero percent risk weight to exposures 
to the MMLF for purposes of determining the risk weighted assets and 
leverage ratio. HCs would report these securities purchased from the 
MMLF in either Schedule HC-R, Part II, item 2.a., ``Held-to-maturity 
securities,'' or Schedule HC-R, Part II, item 2.b., ``Available-for-
sale debt securities and equity securities with readily determinable 
fair values not held for trading,'' as appropriate, in both Column A 
(Totals) and Column C (0 percent risk weight category).\3\ The average 
of such assets purchased would be reported in Schedule HC-R, part I, 
item 29, ``LESS: Other deductions from (additions to) assets for 
leverage ratio purposes,'' and thus excluded from Schedule HC-R, item 
30, ``Total assets for the leverage ratio.''
---------------------------------------------------------------------------

    \2\ See 85 FR 16232 (March 23, 2020). These revisions apply only 
to respondents HCs that are BHCs (including IHCs that are BHCs); 
other HCs are not eligible to participate in the MMLF.
    \3\ Reporting in Schedule HC-R, Part II, only applies to non 
CBLR holding companies. See 84 FR 61776 (November 13, 2019).
---------------------------------------------------------------------------

    The Board has determined that these temporary revisions to the FR 
Y-9C must be instituted quickly and that public participation in the 
approval process would defeat the purpose of the collection of 
information, as delaying the revisions would result in the collection 
of inaccurate information, would interfere with the Board's ability to 
perform its statutory duties, and would cause public harm by preventing 
HCs from utilizing the MMLF without neutralizing the effects of 
exposures arising from the program on the organizations' reported risk-
based and leverage capital ratios.
    Additionally, the Board proposes to extend the FR Y-9 for three 
years, with the revisions discussed above, in order to permit continued 
accurate reporting of capital data.
    Legal authorization and confidentiality: The Board has the 
authority to impose the reporting and recordkeeping requirements 
associated with the FR Y-9 family of reports on BHCs pursuant to 
section 5 of the Bank Holding Company Act of 1956 (BHC Act) (12 U.S.C. 
1844); on SLHCs pursuant to section 10(b)(2) and (3) of the Home 
Owners' Loan Act (12 U.S.C. 1467a(b)(2) and (3)), as amended by 
sections 369(8) and 604(h)(2) of the Dodd-Frank Wall Street and 
Consumer Protection Act (Dodd-Frank Act); on U.S. IHCs pursuant to 
section 5 of the BHC Act (12 U.S.C 1844), as well as pursuant to 
sections 102(a)(1) and 165 of the Dodd-Frank Act (12 U.S.C. 511(a)(1) 
and 5365); and on securities holding companies pursuant to section 618 
of the Dodd-Frank Act (12 U.S.C. 1850a(c)(1)(A)). The obligation to 
submit the FR Y-9 series of reports, and the recordkeeping requirements 
set forth in the respective instructions to each report, are mandatory.
    With respect to the FR Y-9C report, Schedule HI's memoranda data 
item 7(g) ``FDIC deposit insurance assessments,'' Schedule HC-P's data 
item 7(a) ``Representation and warranty reserves for 1-4 family 
residential mortgage loans sold to U.S. government agencies and 
government sponsored agencies,'' and Schedule HC-P's data item 7(b) 
``Representation and warranty reserves for 1-4 family residential 
mortgage loans sold to other parties'' are considered confidential 
commercial and financial information. Such treatment is appropriate 
under exemption 4 of the Freedom of Information Act (FOIA) (5 U.S.C. 
552(b)(4)) because these data items reflect commercial and financial 
information that is both customarily and actually treated as private by 
the submitter, and which the Board has previously assured submitters 
will be treated as confidential. It also appears that disclosing these 
data items may reveal confidential examination and supervisory 
information, and in such instances, this information would also be 
withheld pursuant to exemption 8 of the FOIA (5 U.S.C. 552(b)(8)), 
which protects information related to the supervision or examination of 
a regulated financial institution.
    In addition, for both the FR Y-9C report and the FR Y-9SP report, 
Schedule HC's memorandum item 2.b., the name and email address of the 
external auditing firm's engagement partner, is considered confidential 
commercial information and protected by exemption 4 of the FOIA (5 
U.S.C. 552(b)(4)) if the identity of the engagement partner is treated 
as private information by HCs. The Board has assured respondents that 
this information will be treated as confidential since the collection 
of this data item was proposed in 2004.
    Aside from the data items described above, the remaining data items 
on the FR Y-9C report and the FR Y-9SP report are generally not 
accorded confidential treatment. The data items collected on FR Y-9LP, 
FR Y-9ES, and FR Y-9CS reports, are also generally not accorded 
confidential treatment. As provided in the Board's Rules Regarding 
Availability of Information (12 CFR part 261), however, a respondent 
may request confidential treatment for any data items the respondent 
believes should be withheld pursuant to a FOIA exemption. The Board 
will review any such request to determine if confidential treatment is 
appropriate, and will inform the respondent if the request for 
confidential treatment has been denied.
    To the extent the instructions to the FR Y-9C, FR Y-9LP, FR Y-9SP, 
and FR Y-9ES reports each respectively direct the financial institution 
to retain the workpapers and related materials used in preparation of 
each report, such material would only be obtained by the Board as part 
of the examination or supervision of the financial institution. 
Accordingly, such information is considered confidential pursuant to 
exemption 8 of the FOIA (5 U.S.C. 552(b)(8)). In addition, the 
workpapers and related materials may also be protected by exemption 4 
of the FOIA, to the extent such financial information is treated as 
confidential by the respondent (5 U.S.C. 552(b)(4)).
    Consultation outside the agency: The Federal Reserve consulted with 
the

[[Page 19947]]

Office of the Comptroller of the Currency and the Federal Deposit 
Insurance Corporation in the development of this proposal.

    Board of Governors of the Federal Reserve System, April 3, 2020.
Michele Taylor Fennell,
Assistant Secretary of the Board.
[FR Doc. 2020-07455 Filed 4-8-20; 8:45 am]
 BILLING CODE 6210-01-P
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