Formations of, Acquisitions by, and Mergers of Bank Holding Companies, 41045 [2020-14704]
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Federal Register / Vol. 85, No. 131 / Wednesday, July 8, 2020 / Notices
jbell on DSKJLSW7X2PROD with NOTICES
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.’’ 17 The FR Y–14A/
Q/M reports are mandatory. The
information collected in the FR Y–14A/
Q/M 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)).18
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–
14A/Q/M reports.
17 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–14A/Q/
M reports. See 79 FR 17240, 17304 (March 27,
2014).
18 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
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).
VerDate Sep<11>2014
17:17 Jul 07, 2020
Jkt 250001
Consultation outside the agency:
There has been no consultation outside
the agency.
Board of Governors of the Federal
Reserve System, July 1, 2020.
Michele Taylor Fennell,
Assistant Secretary of the Board.
[FR Doc. 2020–14613 Filed 7–7–20; 8:45 am]
BILLING CODE 6210–01–P
FEDERAL RESERVE SYSTEM
41045
Assistant Vice President), 90 Hennepin
Avenue, Minneapolis, Minnesota
55480–0291:
1. Security Financial Services
Corporation, Durand, Wisconsin; to
acquire Jackson County Bank, Black
River Falls, Wisconsin.
Board of Governors of the Federal Reserve
System, July 2, 2020.
Yao-Chin Chao,
Assistant Secretary of the Board.
[FR Doc. 2020–14704 Filed 7–7–20; 8:45 am]
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 public portions of 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(s) indicated below and at
the offices of the Board of Governors.
This information may also be obtained
on an expedited basis, upon request, by
contacting the appropriate Federal
Reserve Bank and from the Board’s
Freedom of Information Office at
https://www.federalreserve.gov/foia/
request.htm. 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 August 6, 2020.
A. Federal Reserve Bank of Richmond
(Adam M. Drimer, Assistant Vice
President) 701 East Byrd Street,
Richmond, Virginia 23219. Comments
can also be sent electronically to
Comments.applications@rich.frb.org:
1. Pinnacle Bankshares Corporation,
AltaVista, Virginia; to acquire voting
shares of Virginia Bank Bankshares,
Inc., Danville, Virginia, and thereby
indirectly acquire Virginia Bank and
Trust Company, Danville, Virginia.
B. Federal Reserve Bank of
Minneapolis (Chris P. Wangen,
PO 00000
Frm 00084
Fmt 4703
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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 public portions of 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(s) indicated below and at
the offices of the Board of Governors.
This information may also be obtained
on an expedited basis, upon request, by
contacting the appropriate Federal
Reserve Bank and from the Board’s
Freedom of Information Office at
https://www.federalreserve.gov/foia/
request.htm. 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 July 22, 2020.
A. Federal Reserve Bank of Chicago
(Colette A. Fried, Assistant Vice
President) 230 South LaSalle Street,
Chicago, Illinois 60690–1414:
1. Christopher S. Grant, as Trust
Director of The Martin Grandchildren’s
Trust, the William C. Martin GRAT
Remainder Trust f/b/o William S.
Martin, and the William C. Martin
GRAT Remainder Trust f/b/o Michael C.
Martin, all of Ann Arbor, Michigan; to
join the Martin Family Control Group
and to acquire voting shares of Arbor
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[Federal Register Volume 85, Number 131 (Wednesday, July 8, 2020)]
[Notices]
[Page 41045]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-14704]
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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 public portions of 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(s) indicated below and
at the offices of the Board of Governors. This information may also be
obtained on an expedited basis, upon request, by contacting the
appropriate Federal Reserve Bank and from the Board's Freedom of
Information Office at https://www.federalreserve.gov/foia/request.htm.
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 August 6, 2020.
A. Federal Reserve Bank of Richmond (Adam M. Drimer, Assistant Vice
President) 701 East Byrd Street, Richmond, Virginia 23219. Comments can
also be sent electronically to [email protected]:
1. Pinnacle Bankshares Corporation, AltaVista, Virginia; to acquire
voting shares of Virginia Bank Bankshares, Inc., Danville, Virginia,
and thereby indirectly acquire Virginia Bank and Trust Company,
Danville, Virginia.
B. Federal Reserve Bank of Minneapolis (Chris P. Wangen, Assistant
Vice President), 90 Hennepin Avenue, Minneapolis, Minnesota 55480-0291:
1. Security Financial Services Corporation, Durand, Wisconsin; to
acquire Jackson County Bank, Black River Falls, Wisconsin.
Board of Governors of the Federal Reserve System, July 2, 2020.
Yao-Chin Chao,
Assistant Secretary of the Board.
[FR Doc. 2020-14704 Filed 7-7-20; 8:45 am]
BILLING CODE 6210-01-P
