Formations of, Acquisitions by, and Mergers of Savings and Loan Holding Companies, 80098-80099 [2020-27327]

Download as PDF 80098 Federal Register / Vol. 85, No. 239 / Friday, December 11, 2020 / Notices 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 above. jbell on DSKJLSW7X2PROD with NOTICES 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. Proposal Under OMB Delegated Authority To Extend for Three Years, Without Revision, the Following Information Collection Report title: Reporting, Recordkeeping, and Disclosure Requirements Associated with Regulation BB. Agency form number: FR BB. OMB control number: 7100–0197. Frequency: Annually. Respondents: State Member Banks (SMBs), with the exception of special purpose banks that do not perform commercial or retail banking services by granting credit to the public in the ordinary course of business, other than as incident to their specialized operations. These banks include bankers’ banks and banks that engage only in one or more of the following activities: Providing cash management controlled disbursement services or serving as correspondent banks, trust companies, or clearing agents. Estimated number of respondents: Assessment area delineation, 117; Loan VerDate Sep<11>2014 23:25 Dec 10, 2020 Jkt 253001 data: Small business and small farm, 113; Loan data: Community development, 98; Loan data: Home Mortgage Disclosure Act (HMDA) out of Metropolitan Statistical Areas (MSA), 117; Request for designation as a wholesale or a limited purpose bank, 1; Request for strategic plan approval, 2; Affiliate lending data, 5; Data on lending by a consortium or a third party, 12; Small business and small farm loan register, 113; Consumer loan data, 28; Other loan data, 20; and Public file and public notice, 778. Estimated average hours per response: Assessment area delineation, 2; Loan data: Small business and small farm, 8; Loan data: Community development, 13; Loan data: HMDA out of MSA, 253; Request for designation as a wholesale or a limited purpose bank, 4; Request for strategic plan approval, 275; Affiliate lending data, 38; Data on lending by a consortium or a third party, 17; Small business and small farm loan register, 219; Consumer loan data, 326; Other loan data, 25; and Public file and public notice, 10. Estimated annual burden hours: Assessment area delineation, 234; Loan data: Small business and small farm, 904; Loan data: Community development, 1,274; Loan data: HMDA out of MSA, 29,601; Request for designation as a wholesale or a limited purpose bank, 4; Request for strategic plan approval, 550; Affiliate lending data, 190; Data on lending by a consortium or a third party, 204; Small business and small farm loan register, 24,747; Consumer loan data, 9,128; Other loan data, 500; and Public file and public notice, 7,780. General description of report: The Community Reinvestment Act (CRA) directs the Board, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency (collectively, the agencies) to evaluate financial institutions’ (banks and savings associations) records of helping to meet the credit needs of their entire communities, including low- and moderate-income areas, consistent with the safe and sound operation of the institutions. The CRA is implemented through regulations issued by the agencies. The Board’s regulation applies to SMBs. Legal authorization and confidentiality: The FR BB is authorized by section 806 of the CRA, which permits the Board to issue ‘‘[r]egulations to carry out the purposes of [the CRA]’’; section 11 of the Federal Reserve Act, which permits the Board to ‘‘require such statements and reports as it deems necessary’’ of state member banks; and section 9 of the Federal Reserve Act, PO 00000 Frm 00109 Fmt 4703 Sfmt 4703 which permits the Board to examine state member banks. Most of the recordkeeping, reporting, and disclosure requirements of Regulation BB are mandatory. However, there are several limited parts of the collection that are required to obtain a benefit: Specifically, the request for designation as a wholesale or limited purpose bank, the strategic plan, and the recordkeeping and reporting requirements associated with data regarding consumer loans and lending performance, affiliate lending data, and data on lending by a consortium or a third party. Most of the information collected under Regulation BB is not considered confidential. However, if a respondent elects to submit a strategic plan pursuant to 12 CFR 228.27, the respondent may submit additional information to the Board relating to the strategic plan on a confidential basis, so long as the goals in the plan are sufficiently specific to enable the public and the Board to judge the merits of the plan. The Board will determine whether the additional information is entitled to confidential treatment on a case-by-case basis. To the extent a respondent submits information contained in or related to examination, operating, or condition reports prepared by, or on behalf of, or for the use of an agency responsible for the regulation or supervision of financial institutions, the respondent may request confidential treatment pursuant to exemption 8 of the Freedom of Information Act (FOIA). To the extent a respondent submits nonpublic commercial or financial information which is both customarily and actually treated as private by the respondent, the respondent may request confidential treatment pursuant to exemption 4 of the FOIA. Board of Governors of the Federal Reserve System, December 7, 2020. Michele Taylor Fennell, Deputy Associate Secretary of the Board. [FR Doc. 2020–27341 Filed 12–10–20; 8:45 am] BILLING CODE 6210–01–P FEDERAL RESERVE SYSTEM Formations of, Acquisitions by, and Mergers of Savings and Loan Holding Companies The companies listed in this notice have applied to the Board for approval, pursuant to the Home Owners’ Loan Act (12 U.S.C. 1461 et seq.) (HOLA), Regulation LL (12 CFR part 238), and Regulation MM (12 CFR part 239), and all other applicable statutes and E:\FR\FM\11DEN1.SGM 11DEN1 Federal Register / Vol. 85, No. 239 / Friday, December 11, 2020 / Notices regulations to become a savings and loan holding company and/or to acquire the assets or the ownership of, control of, or the power to vote shares of a savings association. 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 whether the proposed transaction complies with the standards enumerated in the HOLA (12 U.S.C. 1467a(e)). 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 January 11, 2021. A. Federal Reserve Bank of Kansas City (Dennis Denney, Assistant Vice President) 1 Memorial Drive, Kansas City, Missouri 64198–0001: 1. The G. Jeffrey Records, Jr. 2020 Family Trust, Oklahoma City, Oklahoma; to become a savings and loan holding company by acquiring voting shares of Midland Financial Co., and thereby indirectly acquire voting shares of MidFirst Bank, both of Oklahoma City, Oklahoma. Board of Governors of the Federal Reserve System, December 8, 2020. Michele Taylor Fennell, Deputy Associate Secretary of the Board. [FR Doc. 2020–27327 Filed 12–10–20; 8:45 am] BILLING CODE P FEDERAL RESERVE SYSTEM Agency Information Collection Activities: Announcement of Board Approval Under Delegated Authority and Submission to OMB Board of Governors, Federal Reserve System. SUMMARY: The Board of Governors of the Federal Reserve System (Board) is adopting a proposal to extend for three years, with revision, the Reporting Requirements Associated with Regulation XX (FR XX; OMB No. 7100– 0363) and the Financial Company (as defined) Report of Consolidated jbell on DSKJLSW7X2PROD with NOTICES AGENCY: VerDate Sep<11>2014 23:25 Dec 10, 2020 Jkt 253001 Liabilities (FR XX–1; OMB No. 7100– 0363). The revisions are effective immediately. FOR FURTHER INFORMATION CONTACT: 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. 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. 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. Boardapproved collections of information are incorporated into the official OMB inventory of currently approved collections of information. The OMB inventory, as well as copies of the PRA Submission, supporting statements, and approved collection of information instrument(s) are available at https:// www.reginfo.gov/public/do/PRAMain. These documents are also available on the Federal Reserve 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 above. Final Approval Under OMB Delegated Authority of the Extension for Three Years, With Revision, of the Following Information Collection Report title: Reporting Requirements Associated with Regulation XX; Financial Company (as defined) Report of Consolidated Liabilities. Agency form number: FR XX; FR XX– 1. OMB control number: 7100–0363. Frequency: Event-generated; annual. Respondents: Insured depository institutions, bank holding companies, savings and loan holding companies, any other companies that control insured depository institutions, nonbank financial companies designated by the Financial Stability Oversight Council (Council) for supervision by the Board, or foreign banks or companies that are treated as a bank holding company for purposes of the Bank Holding Company Act of 1956 (BHC Act); Certain financial companies that do not otherwise report consolidated financial information to PO 00000 Frm 00110 Fmt 4703 Sfmt 4703 80099 the Board or another Federal banking agency. Estimated number of respondents: FR XX (Section 251.3(e))–1; FR XX (Sections 251.4(b) and (c))–1; FR XX–1– 37. Estimated average hours per response: FR XX (Section 251.3(e))–6; FR XX (Sections 251.4(b) and (c))–20; FR XX– 1–2. Estimated annual burden hours: FR XX (Section 251.3(e))–6; FR XX (Sections 251.4(b) and (c))–20; FR XX– 1–74. General description of report: The Board’s Regulation XX—Concentration Limit (12 CFR part 251) implements section 14 of the BHC Act,1 which establishes a financial sector concentration limit that generally prohibits a financial company from merging or consolidating with, or otherwise acquiring, another company if the resulting company’s liabilities upon consummation would exceed 10 percent of the aggregate liabilities of all financial companies (a covered acquisition). Under section 14 of the BHC Act and Regulation XX, a financial company means (1) an insured depository institution, (2) a bank holding company, (3) a savings and loan holding company, (4) any other company that controls an insured depository institution, (5) a nonbank financial company designated by the Council for supervision by the Board, or (6) a foreign bank or company that is treated as a bank holding company for purposes of the BHC Act. Regulation XX includes certain reporting requirements that apply to financial companies, and the FR XX–1 collects information from certain financial companies that do not otherwise report consolidated financial information to the Board or another Federal banking agency. Legal authorization and confidentiality: The FR XX and the FR XX–1 are authorized by section 14 of the BHC Act, which, in relevant part, expressly authorizes the Board to issue ‘‘regulations implementing this section’’ and ‘‘interpretations or guidance regarding the application of this section to an individual financial company or to financial companies in general’’ (12 U.S.C. 1852(d)). The Board also has the authority to require reports from bank holding companies (12 U.S.C. 1844(c)), savings and loan holding companies (12 U.S.C. 1467a(b) and (g)), state member banks (12 U.S.C. 248(a) and 324), and state-licensed branches and agencies of foreign banks, other than insured branches (12 U.S.C. 3105(c)(2)). The obligation to respond is mandatory. 1 12 E:\FR\FM\11DEN1.SGM U.S.C. 1852. 11DEN1

Agencies

[Federal Register Volume 85, Number 239 (Friday, December 11, 2020)]
[Notices]
[Pages 80098-80099]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-27327]


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FEDERAL RESERVE SYSTEM


Formations of, Acquisitions by, and Mergers of Savings and Loan 
Holding Companies

    The companies listed in this notice have applied to the Board for 
approval, pursuant to the Home Owners' Loan Act (12 U.S.C. 1461 et 
seq.) (HOLA), Regulation LL (12 CFR part 238), and Regulation MM (12 
CFR part 239), and all other applicable statutes and

[[Page 80099]]

regulations to become a savings and loan holding company and/or to 
acquire the assets or the ownership of, control of, or the power to 
vote shares of a savings association.
    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 whether the 
proposed transaction complies with the standards enumerated in the HOLA 
(12 U.S.C. 1467a(e)).
    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 January 11, 2021.
    A. Federal Reserve Bank of Kansas City (Dennis Denney, Assistant 
Vice President) 1 Memorial Drive, Kansas City, Missouri 64198-0001:
    1. The G. Jeffrey Records, Jr. 2020 Family Trust, Oklahoma City, 
Oklahoma; to become a savings and loan holding company by acquiring 
voting shares of Midland Financial Co., and thereby indirectly acquire 
voting shares of MidFirst Bank, both of Oklahoma City, Oklahoma.

    Board of Governors of the Federal Reserve System, December 8, 
2020.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2020-27327 Filed 12-10-20; 8:45 am]
BILLING CODE P