Change in Bank Control Notices; Acquisitions of Shares of a Bank or Bank Holding Company, 83557 [2020-28186]

Download as PDF Federal Register / Vol. 85, No. 246 / Tuesday, December 22, 2020 / Notices FEDERAL RESERVE SYSTEM FEDERAL RESERVE SYSTEM Change in Bank Control Notices; Acquisitions of Shares of a Bank or Bank Holding Company [Docket No. OP–1699] 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 January 6, 2021. 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. Charles Taff Cross and John Fuller Cross, Jr., both of Eureka Springs, Arkansas; to acquire additional voting shares of Eureka Bancshares, Inc., and thereby indirectly acquire voting shares of CS Bank (fka Cornerstone Bank), all of Eureka Springs, Arkansas. RIN 3064–ZA15 FEDERAL DEPOSIT INSURANCE CORPORATION jbell on DSKJLSW7X2PROD with NOTICES Board of Governors of the Federal Reserve System, December 17, 2020. Michele Taylor Fennell, Deputy Associate Secretary of the Board. [FR Doc. 2020–28186 Filed 12–21–20; 8:45 am] BILLING CODE 6210–01–P VerDate Sep<11>2014 17:30 Dec 21, 2020 Jkt 253001 Guidance for Resolution Plan Submissions of Certain Foreign-Based Covered Companies Board of Governors of the Federal Reserve System (Board) and Federal Deposit Insurance Corporation (FDIC). ACTION: Final guidance. AGENCY: The Board and the FDIC (together, the agencies) are adopting this final guidance for the 2021 and subsequent resolution plan submissions by certain foreign banking organizations (FBOs). The final guidance is meant to assist these firms in developing their resolution plans, which are required to be submitted pursuant to Section 165(d) of the Dodd-Frank Wall Street Reform and Consumer Protection Act (DoddFrank Act). The final guidance reflects a number of changes to the proposal in response to comments received by the agencies and further analysis by the agencies. The scope of application of the final guidance is FBOs that are Category II firms according to their combined U.S. operations under the Board’s tailoring ruleand are required to have a U.S. intermediate holding company (IHC) under the Board’s Regulation YY (the Specified FBOs) as published in 84 FR 59032 (November 1, 2019). In addition to the three firms(Barclays PLC, Credit Suisse Group AG, and Deutsche Bank AG (the Proposed FBOs) that would have been within the scope of application under the methodology utilized in the proposal, one additional firm, Mitsubishi UFJ Financial Group, Inc. (MUFG), is within the scope for application of the final guidance at the time of its issuance. Consequently, MUFG will have a transition period to consider the application of the final guidance to its resolution plan submission, as further described below. The final guidance describes the agencies’ expectations regarding a number of key vulnerabilities in plans for an orderly resolution under the U.S. Bankruptcy Code (i.e., capital, liquidity, governance mechanisms, operational, branches, legal entity rationalization, and derivatives and trading activities). The final guidance modifies and clarifies certain aspects of the proposed guidance based on the agencies’ consideration of comments to the proposal, additional analysis, and SUMMARY: PO 00000 Frm 00048 Fmt 4703 Sfmt 4703 83557 further assessment of the business and risk profiles of the U.S. operations of large and complex FBOs. DATES: The final guidance is available on December 22, 2020. FOR FURTHER INFORMATION CONTACT: Board: Mona Elliot, Deputy Associate Director, (202) 452–4688, Catherine Tilford, Deputy Associate Director, (202) 452–5240, Division of Supervision and Regulation, Laurie Schaffer, Deputy General Counsel, (202) 452–2272, Jay Schwarz, Special Counsel, (202) 452– 2970, Steve Bowne, Senior Counsel, (202) 452–3900, or Sarah Podrygula, Attorney, (202) 912–4658, Legal Division; Board of Governors of the Federal Reserve System, 20th and C Streets NW, Washington, DC 20551. FDIC: Alexandra Steinberg Barrage, Associate Director, Policy and Data Analytics, abarrage@fdic.gov; Yan Zhou, Acting Associate Director, Data Analytics, yazhou@fdic.gov; Catherine Needham, Advisor, cneedham@fdic.gov; Ronald W. Crawley, Jr., Senior Resolution Policy Specialist, rcrawley@ fdic.gov, Division of Complex Institution Supervision and Resolution; David N. Wall, Assistant General Counsel, dwall@fdic.gov; Celia Van Gorder, Senior Counsel, 202–898–6749, cvangorder@fdic.gov; or Esther Rabin, Counsel, erabin@fdic.gov, Legal Division, Federal Deposit Insurance Corporation, 550 17th Street NW, Washington, DC 20429. SUPPLEMENTARY INFORMATION: Table of Contents I. Introduction a. Background b. Proposed Guidance II. Overview of Comments III. Final Guidance a. Scope of Application b. Transition Period c. Consolidation of Prior Guidance and Format and Structure of Plans d. Capital and Liquidity e. Governance Mechanisms f. Operational g. Branches h. Group Resolution Plan i. Legal Entity Rationalization and Separability j. Derivatives and Trading Activities k. Additional Comments IV. Paperwork Reduction Act V. Final Guidance I. Introduction a. Background Section 165(d) of the Dodd-Frank Act 1 and the jointly issued implementing regulation (the Rule) 2 1 12 U.S.C. 5365(d). CFR part 243 and 12 CFR part 381, as amended. 2 12 E:\FR\FM\22DEN1.SGM 22DEN1

Agencies

[Federal Register Volume 85, Number 246 (Tuesday, December 22, 2020)]
[Notices]
[Page 83557]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-28186]



[[Page 83557]]

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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 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 January 6, 2021.
    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 [email protected]:
    1. Charles Taff Cross and John Fuller Cross, Jr., both of Eureka 
Springs, Arkansas; to acquire additional voting shares of Eureka 
Bancshares, Inc., and thereby indirectly acquire voting shares of CS 
Bank (fka Cornerstone Bank), all of Eureka Springs, Arkansas.

    Board of Governors of the Federal Reserve System, December 17, 
2020.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2020-28186 Filed 12-21-20; 8:45 am]
BILLING CODE 6210-01-P