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