Change in Bank Control Notices; Acquisitions of Shares of a Bank or Bank Holding Company, 53301-53302 [2021-20880]

Download as PDF lotter on DSK11XQN23PROD with NOTICES1 Federal Register / Vol. 86, No. 184 / Monday, September 27, 2021 / Notices nonmember banks are provided with adequate records concerning the transactions. The regulation is also designed to ensure that insured state nonmember banks maintain adequate records and controls with respect to the securities transactions they effect. Finally, this regulation requires officers and employees of FDIC-supervised institutions to report to the FDIC supervised institution certain personal securities trading activity. Sections 344.4, 344.5, and 344.6 refer to reporting and third party disclosure burdens associated with confirmation of securities transactions. The FDIC assumes that banks automate notifications to customers of securities transactions, and would automate these notifications even if 12 CFR 344 were not in place. The automation includes the recordkeeping and disclosure of the confirmation of securities transactions. As such, FDIC believes that the activities associated with sections 344.4, 344.5, and 344.6 are all done in the ordinary course business, and do not represent PRA burden. Potential respondents to this IC are all FDIC-supervised institutions that effect securities transactions for customers. Respondents include institutions that conduct securities transactions themselves or that conduct securities transactions through a broker/dealer. To estimate the annual number of respondents, FDIC referenced the number of FDIC-supervised institutions that reported exercising fiduciary powers as of the first quarter of 2021,1 which is reported on item 2 of Call Report Schedule RC–T. As of March 31, 2021, 691 FDICsupervised institutions reported exercising fiduciary powers.2 These 691 entities are subject to the PRA requirements in 12 CFR 344.8. Thus, FDIC estimates 691 respondents to the line items corresponding to this section. In the previous renewal of this information collection, the FDIC estimated 680 respondents to this IC; this estimate was derived by counting the number of FDIC-supervised institutions with income from securities brokerage activity. The increase in the estimated number of respondents from 680 to 691 is a result of a change in estimation methodology due to a change in the call report reporting requirements.3 The line item corresponding to 12 CFR 344.9 applies to officers and employees of FDIC-supervised institutions who ‘‘make investment recommendations or decisions for the 1 RIS variable TREXER. Call Report data, March 2021. 2 FDIC VerDate Sep<11>2014 18:08 Sep 24, 2021 Jkt 253001 accounts of customers; participate in the determination of such recommendations or decisions; or in connection with their duties, obtain information concerning which securities are being purchased or sold or recommend such action.’’ 5 Excluded from this requirement are ‘‘transactions for the benefit of the officer or employee over which the officer or employee has no direct or indirect influence or control; transactions in registered investment company shares; transactions in government securities; and all transactions involving in the aggregate $10,000 or less during the calendar quarter.’’ 6 The FDIC does not currently have access to data on how many officers or employees are required to report trading activities in which they have a beneficial interest in accordance with Section 344.9. In the estimate for the previous ICR, it was assumed that five officers or employees per FDICsupervised institution affected by this IC who would respond to this line item. Based on supervisory experience, FDIC believes that most of the smaller FDICsupervised institutions do not have any personnel subject to Section 344.9.7 Accordingly, FDIC has reduced the assumed number of officers or employees per FDIC-supervised institution who would respond to this line item from five to three. FDIC therefore estimates 2,073 respondents per year to this line item.8 This estimate constitutes a decrease of 1,327 in the estimated annual number of respondents to this IC. Section 344.8 requires FDICsupervised institutions to establish processes and procedures for assigning responsibility for supervising employees and officers who are involved with processing, documenting, and executing securities transactions for customers, and for ensuring equitable treatment of parties to a security transaction, and of customers who submit orders for the same security or securities at approximately the same time. Policies and procedures are generally reviewed and updated annually. FDIC therefore estimate one response per respondent to this line item as FDIC believes that institutions are more likely to update their policies and procedures annually rather than monthly. This estimate represents a decrease of 11 responses per respondent. FDIC has also revised its estimate of the time required to respond to the requirements of Section 344.8 to one hour per response. This estimate represents an increase of 0.75 hours per 5 12 6 PO 00000 CFR 344.9(a). 12 CFR 344.9(b) Frm 00040 Fmt 4703 Sfmt 4703 53301 response from the estimate included in the 2018 renewal and is based on the FDIC’s experience with this information collection. FDIC estimates one hour per response for the burden related to Section 344.9. This estimate represents a decrease of 0.5 hours per response from the estimate included in the 2018 renewal and is also based on the FDIC’s experience with this information collection. The total estimated annual burden for this information collection is 8,983 hours, which is a decrease of 56,297 hours from the estimate included in the previous renewal. Request for Comment Comments are invited on: (a) Whether the collection of information is necessary for the proper performance of the FDIC’s functions, including whether the information has practical utility; (b) the accuracy of the estimates of the burden of the information collection, including the validity of the methodology and assumptions used; (c) ways to enhance the quality, utility, and clarity of the information to be collected; and (d) ways to minimize the burden of the collection of information on respondents, including through the use of automated collection techniques or other forms of information technology. All comments will become a matter of public record. Dated at Washington, DC, on September 19, 2021. Federal Deposit Insurance Corporation. James P. Sheesley, Assistant Executive Secretary. FR Doc. 2021–20808 Filed 9–24–21; 8:45 am BILLING CODE 6714–01–P 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 § 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 E:\FR\FM\27SEN1.SGM 27SEN1 53302 Federal Register / Vol. 86, No. 184 / Monday, September 27, 2021 / Notices 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 October 12, 2021. A. Federal Reserve Bank of Chicago (Colette A. Fried, Assistant Vice President) 230 South LaSalle Street, Chicago, Illinois 60690–1414: 1. Stilwell Activist Investments, L.P, Stilwell Activist Fund, L.P., and Stilwell Value Partners VII, L.P., together known as The Stilwell Group, Stilwell Value LLC, as general partner of each of the limited partnerships, all of New York, New York; and Joseph D. Stilwell, San Juan, Puerto Rico, as managing member of Stilwell Value LLC; a group acting in concert, to acquire voting shares of CIB Marine Bancshares, Inc., Brookfield, Wisconsin, and thereby indirectly acquire voting shares of CIBM Bank, Champaign, Illinois. Board of Governors of the Federal Reserve System, September 22, 2021. Michele Taylor Fennell, Deputy Associate Secretary of the Board. [FR Doc. 2021–20880 Filed 9–24–21; 8:45 am] BILLING CODE P GENERAL SERVICES ADMINISTRATION [Notice–PCSCOTUS–2021–01; Docket No. PCSCOTUS–2021–0001; Sequence No. 4] Office of Asset and Transportation Management; Presidential Commission on the Supreme Court of the United States; Notification of Upcoming Public Virtual Meeting and Request for Public Comment Office of Government-wide Policy, General Services Administration (GSA). ACTION: Request for public comment; meeting notice. lotter on DSK11XQN23PROD with NOTICES1 AGENCY: GSA is accepting written public comments on the work of the Presidential Commission on the Supreme Court of the United States (Commission). Further, GSA is providing notice of an open public virtual meeting of the Commission in SUMMARY: VerDate Sep<11>2014 18:08 Sep 24, 2021 Jkt 253001 accordance with the requirements of the Federal Advisory Committee Act. The purpose of this meeting is for the Commissioners to deliberate on the report that the Commission is charged with preparing pursuant to Executive Order 14023. For more information on the meeting agenda, please see the SUPPLEMENTARY INFORMATION section of this notice. This meeting is open to the public and will be live-streamed at www.whitehouse.gov/pcscotus/. Materials relevant to the public meeting will be posted at www.whitehouse.gov/ pcscotus/ prior to the meeting. DATES: The Commission will hold a public virtual meeting on October 15, 2021 from 10:00 a.m. to 5:00 p.m., Eastern Standard Time (EST). ADDRESSES: This meeting will be conducted virtually on the internet. Interested individuals must register to attend as instructed below. Procedures for Attendance and Public Comment Attendance. This meeting is open to the public and the Commission encourages the public’s attendance. To attend this public virtual meeting, please send an email with the Subject: Registration. In the body of the email, provide your full name, organization (if applicable), email address, and phone number to the Designated Federal Officer, at info@pcscotus.gov. Registration requests must be received by 5:00 p.m. ET, on October 13, 2021. Registrations received after this day/ time may not be processed. Public Comments. Written public comments are being accepted via https:// www.regulations.gov, the Federal eRulemaking portal throughout the life of the Commission. To submit a written public comment, go to https:// www.regulations.gov and search for PCSCOTUS–2021–0001. Then, click on the ‘‘Comment’’ button that shows up in the search results. Select the link ‘‘Comment’’ that corresponds with this notice. Follow the instructions provided on the screen. Please include your name, company name (if applicable), and ‘‘PCSCOTUS–2021–0001, Notification of Upcoming Public Virtual Meeting and Request for Public Comment’’ on your attached document (if applicable). Public comments meeting our public comment policy, included under SUPPLEMENTARY INFORMATION, will be shared on Regulations.gov. Comments provided by 5:00 p.m. ET, on October 11, 2021 will be provided to the Commission members in advance of the October 15 public meeting. Comments submitted after this date will still be provided to PO 00000 Frm 00041 Fmt 4703 Sfmt 4703 the Commission members, but please be advised that Commission members may not have adequate time to consider the comments prior to the meeting. Special accommodations. For information on services for individuals with disabilities, or to request accommodation of a disability, please contact the Designated Federal Officer at least 10 business days prior to the meeting to give GSA as much time as possible to process the request. FOR FURTHER INFORMATION CONTACT: For information on the public virtual meeting, contact Dana Fowler, Designated Federal Officer, Office of Government-wide Policy, General Services Administration, at info@ pcscotus.gov, 202–501–1777. SUPPLEMENTARY INFORMATION: Background The Administrator of GSA established the Commission under the Federal Advisory Committee Act on April 26, 2021 pursuant to Executive Order 14023, Establishment of the Presidential Commission on the Supreme Court of the United States, issued on April 9, 2021. Per the Executive Order, the Commission shall produce a report for the President that includes the following: (i) An account of the contemporary commentary and debate about the role and operation of the Supreme Court in our constitutional system and about the functioning of the constitutional process by which the President nominates and, by and with the advice and consent of the Senate, appoints Justices to the Supreme Court; (ii) The historical background of other periods in the Nation’s history when the Supreme Court’s role and the nominations and advice-and-consent process were subject to critical assessment and prompted proposals for reform; and (iii) An analysis of the principal arguments in the contemporary public debate for and against Supreme Court reform, including an appraisal of the merits and legality of particular reform proposals. Meeting Agenda The purpose of this meeting is for the Commissioners to deliberate on the report that the Commission is charged with preparing pursuant to Executive Order 14023. The agenda and deliberations will be organized in accordance with the tentative structure of the report. • Chapter 1: Setting the Stage: The Genesis of the Reform Debate and the Commission’s Mission E:\FR\FM\27SEN1.SGM 27SEN1

Agencies

[Federal Register Volume 86, Number 184 (Monday, September 27, 2021)]
[Notices]
[Pages 53301-53302]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-20880]


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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

[[Page 53302]]

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 October 12, 2021.
    A. Federal Reserve Bank of Chicago (Colette A. Fried, Assistant 
Vice President) 230 South LaSalle Street, Chicago, Illinois 60690-1414:
    1. Stilwell Activist Investments, L.P, Stilwell Activist Fund, 
L.P., and Stilwell Value Partners VII, L.P., together known as The 
Stilwell Group, Stilwell Value LLC, as general partner of each of the 
limited partnerships, all of New York, New York; and Joseph D. 
Stilwell, San Juan, Puerto Rico, as managing member of Stilwell Value 
LLC; a group acting in concert, to acquire voting shares of CIB Marine 
Bancshares, Inc., Brookfield, Wisconsin, and thereby indirectly acquire 
voting shares of CIBM Bank, Champaign, Illinois.

    Board of Governors of the Federal Reserve System, September 22, 
2021.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2021-20880 Filed 9-24-21; 8:45 am]
BILLING CODE P
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