Change in Bank Control Notices; Acquisitions of Shares of a Bank or Bank Holding Company, 83557 [2020-28186]
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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
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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
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Fmt 4703
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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
