Agency Information Collection Activities: Announcement of Board Approval Under Delegated Authority and Submission to OMB, 9504-9505 [2021-03073]

Download as PDF khammond on DSKJM1Z7X2PROD with NOTICES 9504 Federal Register / Vol. 86, No. 29 / Tuesday, February 16, 2021 / Notices FEDERAL RESERVE SYSTEM FEDERAL RESERVE SYSTEM Formations of, Acquisitions by, and Mergers of Bank Holding Companies Change in Bank Control Notices; Acquisitions of Shares of a Bank or Bank Holding Company 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 March 18, 2021. A. Federal Reserve Bank of Atlanta (Kathryn Haney, Assistant Vice President) 1000 Peachtree Street, NE, Atlanta, Georgia 30309. Comments can also be sent electronically to Applications.Comments@atl.frb.org: 1. Community Bancshares of Mississippi, Inc. Employee Stock Ownership Plan, Brandon, Mississippi; to acquire additional voting shares, for a total of 19.34 percent of the voting shares of Community Bancshares of Mississippi, Inc., Brandon, Mississippi, and thereby indirectly acquire voting shares of Community Bank of Mississippi, Forest, Mississippi. Board of Governors of the Federal Reserve System, February 10, 2021. Michele Taylor Fennell, Deputy Associate Secretary of the Board. [FR Doc. 2021–03049 Filed 2–12–21; 8:45 am] BILLING CODE P VerDate Sep<11>2014 17:04 Feb 12, 2021 Jkt 253001 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 March 3, 2021. A. Federal Reserve Bank of Chicago (Colette A. Fried, Assistant Vice President) 230 South LaSalle Street, Chicago, Illinois 60690–1414: 1. Scott A. Schoenmann, Mazomanie, Wisconsin; to retain voting shares of The Peoples Community Bancshares, Inc., and thereby indirectly retain voting shares of The Peoples Community Bank, both of Mazomanie, Wisconsin. Board of Governors of the Federal Reserve System, February 10, 2021. Michele Taylor Fennell, Deputy Associate Secretary of the Board. [FR Doc. 2021–03050 Filed 2–12–21; 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 of the Federal Reserve System. SUMMARY: The Board of Governors of the Federal Reserve System (Board) is AGENCY: PO 00000 Frm 00028 Fmt 4703 Sfmt 4703 adopting a proposal to extend for three years, with revision, the Recordkeeping and Disclosure Provisions Associated with Real Estate Appraisal Standards (FR Y–30; OMB No. 7100–0250). 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: Recordkeeping and Disclosure Provisions Associated with Real Estate Appraisal Standards.1 1 This information collection was previously titled Recordkeeping Requirements Associated with Real Estate Appraisal Standards for Federally Related Transactions Pursuant to Regulations H and Y (FR H–4; OMB No. 7100–0250). Under the proposal, this information collection would no longer include references to section 208.51 of the Board’s Regulation H (12 CFR 208.51), which is cleared by the Board as part of the FR H–5 clearance (OMB No. 7100–0261). This change would not affect the burden estimate for this collection of information, as prior burden calculations for the FR H–4 have not included any burden associated with section 208.51 of Regulation H. Additionally, as described in this Supporting Statement, the proposal would replace references to section 208.50 of Regulation H with references to subpart G of Regulation Y as the source for certain appraisal standards for state member banks. Therefore, the Board has modified the title and agency tracking E:\FR\FM\16FEN1.SGM 16FEN1 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

Agencies

[Federal Register Volume 86, Number 29 (Tuesday, February 16, 2021)]
[Notices]
[Pages 9504-9505]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-03073]


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FEDERAL RESERVE SYSTEM


Agency Information Collection Activities: Announcement of Board 
Approval Under Delegated Authority and Submission to OMB

AGENCY: Board of Governors of the 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 
Recordkeeping and Disclosure Provisions Associated with Real Estate 
Appraisal Standards (FR Y-30; OMB No. 7100-0250). 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. Board-
approved 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: Recordkeeping and Disclosure Provisions Associated 
with Real Estate Appraisal Standards.\1\
---------------------------------------------------------------------------

    \1\ This information collection was previously titled 
Recordkeeping Requirements Associated with Real Estate Appraisal 
Standards for Federally Related Transactions Pursuant to Regulations 
H and Y (FR H-4; OMB No. 7100-0250). Under the proposal, this 
information collection would no longer include references to section 
208.51 of the Board's Regulation H (12 CFR 208.51), which is cleared 
by the Board as part of the FR H-5 clearance (OMB No. 7100-0261). 
This change would not affect the burden estimate for this collection 
of information, as prior burden calculations for the FR H-4 have not 
included any burden associated with section 208.51 of Regulation H. 
Additionally, as described in this Supporting Statement, the 
proposal would replace references to section 208.50 of Regulation H 
with references to subpart G of Regulation Y as the source for 
certain appraisal standards for state member banks. Therefore, the 
Board has modified the title and agency tracking number of the FR H-
4 information collection to reflect that it will no longer account 
for provisions of Regulation H.

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[[Page 9505]]

    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 ensure compliance with Title XI of 
FIRREA and Regulation Y.
---------------------------------------------------------------------------

    \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).
---------------------------------------------------------------------------

    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\
---------------------------------------------------------------------------

    \5\ 5 U.S.C. 552(b)(8).
    \6\ 5 U.S.C. 552(b)(4).
---------------------------------------------------------------------------

    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