Notice of Proposals to Engage in or to Acquire Companies Engaged in Permissible Nonbanking Activities, 9505-9506 [2021-03048]

Download as PDF Federal Register / Vol. 86, No. 29 / Tuesday, February 16, 2021 / Notices khammond on DSKJM1Z7X2PROD with NOTICES Agency form number: FR Y–30. OMB control number: 7100–0250. Effective Date: The revisions are effective immediately. Frequency: Event-generated. Respondents: State member banks (SMBs) and nonbank subsidiaries of bank holding companies (BHCs). Estimated number of respondents: SMBs, 740; nonbank subsidiaries of BHCs, 1,126. Estimated average hours per response: SMBs, 5 minutes; nonbank subsidiaries of BHCs, 5 minutes. Estimated annual burden hours: Recordkeeping, SMBs, 25,837; nonbank subsidiaries of BHCs, 2,346. Disclosure, SMBs, 62; nonbank subsidiaries of BHCs, 94. General description of report: Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA) (12 U.S.C. 3331 et seq.) requires that, for federally related transactions,2 regulated institutions obtain real estate appraisals performed by certified or licensed appraisers in conformance with uniform appraisal standards.3 The Board’s regulations implementing Title XI of FIRREA, contained in the Board’s Regulation Y, include certain recordkeeping requirements that apply to SMBs, BHCs, and nonbank subsidiaries of BHCs that extend mortgage credit (together, institutions). The Board and other supervisory agencies also have issued Interagency Appraisal and Evaluation Guidelines (the Guidelines) that convey supervisory expectations relating to real estate appraisals and evaluations used to support real estate-related financial transactions.4 These Guidelines recommend that institutions adopt certain policies and procedures to number of the FR H–4 information collection to reflect that it will no longer account for provisions of Regulation H. 2 A ‘‘federally related transaction’’ means any real estate-related financial transaction which (A) a federal financial institutions regulatory agency or the Resolution Trust Corporation engages in, contracts for, or regulates; and (B) requires the services of an appraiser (12 U.S.C. 3350(4)). The term ‘‘real estate-related financial transaction’’ means any transaction involving (A) the sale, lease, purchase, investment in or exchange of real property, including interests in property, or the financing thereof; (B) the refinancing of real property or interests in real property; and (C) the use of real property or interests in property as security for a loan or investment, including mortgage-backed securities (12 U.S.C. 3350(5)). 3 12 U.S.C. 3339. The Board also has the authority to require reports from bank holding companies (12 U.S.C. 1844(c)) and state member banks (12 U.S.C. 248(a) and 324). 4 See SR 18–5/CA 18–7: Interagency Statement Clarifying the Role of Supervisory Guidance (Sept. 12, 2018). VerDate Sep<11>2014 17:04 Feb 12, 2021 Jkt 253001 ensure compliance with Title XI of FIRREA and Regulation Y. Legal authorization and confidentiality: The FR Y–30 is authorized pursuant to Title XI of FIRREA.3 The obligation to respond is mandatory. The recordkeeping provisions contained in the Guidelines, which is nonbinding, are voluntary.4 Because FR Y–30 records would be maintained at each banking organization, the Freedom of Information Act (‘‘FOIA’’) would only be implicated if the Board obtained such records as part of the examination or supervision of a banking organization. In the event the records are obtained by the Board as part of an examination or supervision of a financial institution, this information may be considered confidential pursuant to exemption 8 of the FOIA, which protects information contained in ‘‘examination, operating, or condition reports’’ obtained in the bank supervisory process.5 In addition, the information may also be kept confidential under exemption 4 for the FOIA, which protects commercial or financial information obtained from a person that is privileged or confidential.6 Current actions: On October 14, 2020, the Board published a notice in the Federal Register (85 FR 65050) requesting public comment for 60 days on the extension, with revision, of the FR Y–30. The Board proposes to revise the FR Y–30 to account for the collections of information contained in the Guidelines. Although previous OMB Supporting Statements for the FR H–4, the former agency tracking number for this clearance, referred to the Guidelines, the Board did not formally clear these collections of information or account for their corresponding burden. The comment period for this notice expired on December 14, 2020. The Board did not receive any comments. The revisions will be implemented as proposed. Board of Governors of the Federal Reserve System, February 10, 2021. Michele Taylor Fennell, Deputy Associate Secretary of the Board. [FR Doc. 2021–03073 Filed 2–12–21; 8:45 am] BILLING CODE 6210–01–P 55 65 PO 00000 U.S.C. 552(b)(8). U.S.C. 552(b)(4). Frm 00029 Fmt 4703 Sfmt 4703 9505 FEDERAL RESERVE SYSTEM Notice of Proposals to Engage in or to Acquire Companies Engaged in Permissible Nonbanking Activities The companies listed in this notice have given notice under section 4 of the Bank Holding Company Act (12 U.S.C. 1843) (BHC Act) and Regulation Y, (12 CFR part 225) to engage de novo, or to acquire or control voting securities or assets of a company, including the companies listed below, that engages either directly or through a subsidiary or other company, in a nonbanking activity that is listed in § 225.28 of Regulation Y (12 CFR 225.28) or that the Board has determined by Order to be closely related to banking and permissible for bank holding companies. Unless otherwise noted, these activities will be conducted throughout the United States. 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 question whether the proposal complies with the standards of section 4 of the BHC Act. Unless otherwise noted, comments regarding the 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 March 3, 2021. A. Federal Reserve Bank of Philadelphia (William Spaniel, Senior Vice President) 100 North 6th Street, Philadelphia, Pennsylvania 19105– 1521. Comments can also be sent electronically to Comments.applications@phil.frb.org: 1. Hyperion Bancshares, Inc., Philadelphia, Pennsylvania; as published in 85 FR 82477 (December 18, 2020), to indirectly acquire Hyperion Mortgage, LLC, Atlanta, Georgia, and engage in extending credit and servicing loans and activities related to extending credit pursuant to sections 225.28(b)(1) and (2) of the Board’s Regulation Y. E:\FR\FM\16FEN1.SGM 16FEN1 9506 Federal Register / Vol. 86, No. 29 / Tuesday, February 16, 2021 / Notices Board of Governors of the Federal Reserve System, February 10, 2021. Michele Taylor Fennell, Deputy Associate Secretary of the Board. Final Approval Under OMB Delegated Authority of the Extension for Three Years, Without Revision, of the Following Information Collection [FR Doc. 2021–03048 Filed 2–12–21; 8:45 am] Report title: Reporting, Recordkeeping, and Disclosure Provisions Associated with the Guidance on Response Programs for Unauthorized Access to Customer Information and Customer Notice. Agency form number: FR 4100. OMB control number: 7100–0309. Frequency: On occasion. Respondents: State member banks, bank holding companies (BHCs), affiliates and certain non-banking subsidiaries of BHCs, uninsured state agencies and branches of foreign banks, commercial lending companies owned or controlled by foreign banks, savings and loan holding companies, and Edge and agreement corporations. Estimated number of respondents: Recordkeeping, 1; Reporting, 831; Disclosure, 831. Estimated average hours per response: Recordkeeping, 24 hours; Reporting, 9 hours; Disclosure, 27 hours. Estimated annual burden hours: Recordkeeping, 24 hours; Reporting, 7,479 hours; Disclosure, 22,437 hours. General description of report: The FR 4100 is the Board’s information collection associated with the Interagency Guidance on Response Programs for Unauthorized Access to Customer Information and Customer Notice (‘‘ID-Theft Guidance’’ or ‘‘Guidance’’). The ID-Theft Guidance was published in the Federal Register in March 2005.1 The ID-Theft Guidance, which applies to financial institutions, was issued in response to developing trends in the theft and accompanying misuse of customer information. The Guidance includes certain voluntary reporting, recordkeeping, and disclosure provisions. Legal authorization and confidentiality: The FR 4100 is authorized by section 501(b) of the Gramm-Leach-Bliley Act,2 which requires the Board, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency to establish appropriate standards for financial institutions to develop and implement an information security program designed to protect their customers’ information and a response program that specifies actions to be taken when the institution suspects or detects that unauthorized individuals have gained access to customer information systems. BILLING CODE P FEDERAL RESERVE SYSTEM Agency Information Collection Activities: Announcement of Board Approval Under Delegated Authority and Submission to OMB Board of Governors of the Federal Reserve System. AGENCY: The Board of Governors of the Federal Reserve System (Board) is adopting a proposal to extend for three years, without revision the Reporting, Recordkeeping, and Disclosure Provisions Associated with the Guidance on Response Programs for Unauthorized Access to Customer Information and Customer Notice (FR 4100; OMB No. 7100–0309). SUMMARY: 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. 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. khammond on DSKJM1Z7X2PROD with NOTICES SUPPLEMENTARY INFORMATION: 1 See 2 15 VerDate Sep<11>2014 17:04 Feb 12, 2021 Jkt 253001 PO 00000 70 FR 15736 (March 29, 2005). U.S.C. 6801(b). Frm 00030 Fmt 4703 Sfmt 4703 Because the provisions under the FR 4100 are contained in guidance, which is nonbinding, the provisions are voluntary.3 The disclosure provisions of FR 4100 are not confidential. The records maintained under recordkeeping provisions of FR 4100 would be maintained at each banking organization, and the Freedom of Information Act (‘‘FOIA’’) would only be implicated if the Board obtained such records as part of the examination or supervision of a banking organization. In the event the records are obtained by the Board as part of an examination or supervision of a financial institution, this information may be considered confidential pursuant to exemption 8 of the FOIA, which protects information contained in ‘‘examination, operating, or condition reports’’ obtained in the bank supervisory process. In addition, the information obtained by the Board under the FR 4100 may also be kept confidential under exemption 4 for the FOIA, which protects commercial or financial information obtained from a person that is privileged or confidential.4 Current actions: On October 14, 2020, the Board published a notice in the Federal Register (85 FR 65046) requesting public comment for 60 days on the extension, without revision, of the Reporting, Recordkeeping, and Disclosure Provisions Associated with the Guidance on Response Programs for Unauthorized Access to Customer Information and Customer Notice. The comment period for this notice expired on December 14, 2020. The Board did not receive any comments. Board of Governors of the Federal Reserve System, February 10, 2021. Michele Taylor Fennell, Deputy Associate Secretary of the Board. [FR Doc. 2021–03072 Filed 2–12–21; 8:45 am] BILLING CODE 6210–01–P DEPARTMENT OF HEALTH AND HUMAN SERVICES Food and Drug Administration [Docket No. FDA–2021–N–0089] Vaccines and Related Biological Products Advisory Committee; Notice of Meeting; Establishment of a Public Docket; Request for Comments AGENCY: Food and Drug Administration, HHS. 3 See SR 18–5/CA 18–7: Interagency Statement Clarifying the Role of Supervisory Guidance (Sept. 11, 2018). 4 5 U.S.C. 552(b)(4). E:\FR\FM\16FEN1.SGM 16FEN1

Agencies

[Federal Register Volume 86, Number 29 (Tuesday, February 16, 2021)]
[Notices]
[Pages 9505-9506]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-03048]


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FEDERAL RESERVE SYSTEM


Notice of Proposals to Engage in or to Acquire Companies Engaged 
in Permissible Nonbanking Activities

    The companies listed in this notice have given notice under section 
4 of the Bank Holding Company Act (12 U.S.C. 1843) (BHC Act) and 
Regulation Y, (12 CFR part 225) to engage de novo, or to acquire or 
control voting securities or assets of a company, including the 
companies listed below, that engages either directly or through a 
subsidiary or other company, in a nonbanking activity that is listed in 
Sec.  225.28 of Regulation Y (12 CFR 225.28) or that the Board has 
determined by Order to be closely related to banking and permissible 
for bank holding companies. Unless otherwise noted, these activities 
will be conducted throughout the United States.
    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 question 
whether the proposal complies with the standards of section 4 of the 
BHC Act.
    Unless otherwise noted, comments regarding the 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 March 
3, 2021.
    A. Federal Reserve Bank of Philadelphia (William Spaniel, Senior 
Vice President) 100 North 6th Street, Philadelphia, Pennsylvania 19105-
1521. Comments can also be sent electronically to 
[email protected]:
    1. Hyperion Bancshares, Inc., Philadelphia, Pennsylvania; as 
published in 85 FR 82477 (December 18, 2020), to indirectly acquire 
Hyperion Mortgage, LLC, Atlanta, Georgia, and engage in extending 
credit and servicing loans and activities related to extending credit 
pursuant to sections 225.28(b)(1) and (2) of the Board's Regulation Y.


[[Page 9506]]


    Board of Governors of the Federal Reserve System, February 10, 
2021.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2021-03048 Filed 2-12-21; 8:45 am]
BILLING CODE P