Formations of, Acquisitions by, and Mergers of Bank Holding Companies, 64477-64478 [2021-25195]

Download as PDF Federal Register / Vol. 86, No. 220 / Thursday, November 18, 2021 / Notices valuation allowances to an adequate level, and estimated losses on contingent liabilities. The Board and the OCC expect their supervised institutions to promptly recognize examineridentified losses, but the requirement is not explicit under their capital rule. Instead, the Board and the OCC apply their supervisory authorities to ensure that their supervised institutions charge off any identified losses. Subsidiaries of Savings Associations There are special statutory requirements for the agencies’ capital treatment of a savings association’s investment in or credit to its subsidiaries as compared with the capital treatment of such transactions between other types of institutions and their subsidiaries. Specifically, the Home Owners’ Loan Act (HOLA) distinguishes between subsidiaries of savings associations engaged in activities that are permissible for national banks and those engaged in activities that are not permissible for national banks.16 When subsidiaries of a savings association are engaged in activities that are not permissible for national banks,17 the parent savings association generally must deduct the parent’s investment in and extensions of credit to these subsidiaries from the capital of the parent savings association. If a subsidiary of a savings association engages solely in activities permissible for national banks, no deduction is required and investments in and loans to that organization may be assigned the risk weight appropriate for the activity.18 As the appropriate federal banking agencies for federal and state savings associations, respectively, the OCC and the FDIC apply this capital treatment to those types of institutions. The Board’s regulatory capital framework does not apply to savings associations and, therefore, does not include this requirement. khammond on DSKJM1Z7X2PROD with NOTICES Tangible Capital Requirement Federal statutory law subjects savings associations to a specific tangible capital requirement but does not similarly do so with respect to banks. Under section 5(t)(2)(B) of HOLA, savings associations are required to maintain tangible capital in an amount not less than 1.5 percent 16 12 U.S.C. 1464(t)(5). engaged in activities not permissible for national banks are considered nonincludable subsidiaries. 18 A deduction from capital is only required to the extent that the savings association’s investment exceeds the generally applicable thresholds for deduction of investments in the capital of an unconsolidated financial institution. 17 Subsidiaries VerDate Sep<11>2014 17:11 Nov 17, 2021 Jkt 256001 64477 of total assets.19 The capital rule of the OCC and the FDIC includes a requirement that savings associations maintain a tangible capital ratio of 1.5 percent.20 This statutory requirement does not apply to banks and, thus, there is no comparable regulatory provision for banks. The distinction is of little practical consequence, however, because under the Prompt Corrective Action (PCA) framework, all institutions are considered critically undercapitalized if their tangible equity falls below 2 percent of total assets.21 Generally speaking, the appropriate federal banking agency must appoint a receiver within 90 days after an institution becomes critically undercapitalized.22 more than $10 trillion in assets under custody.26 Enhanced Supplementary Leverage Ratio Formations of, Acquisitions by, and Mergers of Bank Holding Companies The agencies adopted enhanced supplementary leverage ratio standards that took effect beginning on January 1, 2018.23 These standards require certain bank holding companies to exceed a 5 percent supplementary leverage ratio to avoid limitations on distributions and certain discretionary bonus payments and also require the subsidiary institutions of these bank holding companies to meet a 6 percent supplementary leverage ratio to be considered ‘‘well capitalized’’ under the PCA framework.24 The rule text establishing the scope of application for the enhanced supplementary leverage ratio differs among the agencies. The Board and the FDIC apply the enhanced supplementary leverage ratio standards for institutions based on parent bank holding companies being identified as global systemically important bank holding companies as defined in 12 CFR 217.2.25 The OCC applies enhanced supplementary leverage ratio standards to the institution subsidiaries under their supervisory jurisdiction of a toptier bank holding company that has more than $700 billion in total assets or 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 December 20, 2021. A. Federal Reserve Bank of Dallas (Karen Smith, Director, Applications) 2200 North Pearl Street, Dallas, Texas 75201–2272: 19 12 U.S.C. 1464(t)(1)(A)(ii) and (t)(2)(B). CFR 3.10(a)(6) (OCC); 12 CFR 324.10(a)(6) (FDIC). The Board’s regulatory capital framework does not apply to savings associations and, therefore, does not include this requirement. 21 See 12 U.S.C. 1831o(c)(3); see also 12 CFR 6.4 (OCC); 12 CFR 208.45 (Board); 12 CFR 324.403 (FDIC). 22 12 U.S.C. 1831o(h)(3)(A). 23 See 79 FR 24528 (May 1, 2014). 24 12 CFR 6.4(b)(1)(i)(D)(2) (OCC); 12 CFR 208.43(b)(1)(iv)(B) (Board); 12 CFR 324.403(b)(1)(v) (FDIC). 25 12 CFR 208.43(b)(1)(iv)(B) (Board); 12 CFR 324.403(b)(1)(ii) (FDIC). 20 12 PO 00000 Frm 00033 Fmt 4703 Sfmt 4703 Michael J. Hsu, Acting Comptroller of the Currency. Board of Governors of the Federal Reserve System. Ann E. Misback, Secretary of the Board. Federal Deposit Insurance Corporation. Dated at Washington, DC, on November 8, 2021. James P. Sheesley, Assistant Executive Secretary. [FR Doc. 2021–25159 Filed 11–17–21; 8:45 am] BILLING CODE P FEDERAL RESERVE SYSTEM 26 12 E:\FR\FM\18NON1.SGM CFR 6.4(b)(1)(i)(D)(2) (OCC). 18NON1 64478 Federal Register / Vol. 86, No. 220 / Thursday, November 18, 2021 / Notices 1. Animo Bancorp, Inc., Ganado, Texas; to become a bank holding company by acquiring Ganado Bancshares, Inc, and thereby indirectly acquiring The Citizens State Bank of Ganado, both of Ganado, Texas. B. Federal Reserve Bank of Atlanta (Erien O. Terry, Assistant Vice President) 1000 Peachtree Street NE, Atlanta, Georgia 30309. Comments can also be sent electronically to Applications.Comments@atl.frb.org: 1. CB Investment Holdings, LLC, Nashville, Tennessee; to become a bank holding company by acquiring CSB&T Bancorp, Inc., and thereby indirectly acquiring Citizens Savings Bank & Trust Company, both of Nashville, Tennessee. Board of Governors of the Federal Reserve System, November 15, 2021. Michele Taylor Fennell, Deputy Associate Secretary of the Board. [FR Doc. 2021–25195 Filed 11–17–21; 8:45 am] Board of Governors of the Federal Reserve System, November 15, 2021. Michele Taylor Fennell, Deputy Associate Secretary of the Board. [FR Doc. 2021–25180 Filed 11–17–21; 8:45 am] BILLING CODE P BILLING CODE P FEDERAL RETIREMENT THRIFT INVESTMENT BOARD FEDERAL RESERVE SYSTEM Privacy Act of 1974; System of Records Change in Bank Control Notices; Acquisitions of Shares of a Bank or Bank Holding Company khammond on DSKJM1Z7X2PROD with NOTICES 2200 North Pearl Street, Dallas, Texas 75201–2272: 1. Lane Lowery and The Lane Lowery 2021 Trust, both of Huntington, Texas, and The Shana Lowery De Paoli 2021 Trust and Shana Lowery De Paoli, individually, and as trustee to both trusts, both of Dallas, Texas; to join a group acting in concert to retain voting shares of UBank Holdings, Inc. (formerly, Huntington Bancshares, Inc.), and thereby indirectly retain voting shares of UBank, both of Huntington, Texas. 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 December 3, 2021. A. Federal Reserve Bank of Dallas (Karen Smith, Director, Applications) VerDate Sep<11>2014 17:11 Nov 17, 2021 Jkt 256001 Federal Retirement Thrift Investment Board (FRTIB). ACTION: Notice of a modified system of records. AGENCY: Pursuant to the Privacy Act of 1974, the Federal Retirement Thrift Investment Board (FRTIB) proposes to modify an existing system of records notice in order to collect information related to sincerely held religious beliefs, practices, or observances when necessary to evaluate requests for a religious accommodation. DATES: The modifications to this system will become effective upon publication in today’s Federal Register. FRTIB invites written comments on the routine uses and other aspects of this system of records. Submit any comments by December 20, 2021. ADDRESSES: You may submit written comments to FRTIB by any one of the following methods: • Federal eRulemaking Portal: https:// www.regulations.gov. Follow the website instructions for submitting comments. • Fax: 202–942–1676. • Mail or Hand Delivery: Office of General Counsel, Federal Retirement Thrift Investment Board, 77 K Street NE, Suite 1000, Washington, DC 20002. FOR FURTHER INFORMATION CONTACT: Peter Robbins, Chief Privacy Officer, Federal Retirement Thrift Investment Board, Office of General Counsel, 77 K Street NE, Suite 1000, Washington, DC SUMMARY: PO 00000 Frm 00034 Fmt 4703 Sfmt 4703 20002, (202) 942–1600. For access to any of the FRTIB’s systems of records, contact Amanda Haas, FOIA Officer, Office of General Counsel, at the above address and phone number. Records contained in this system are collected to: (1) Allow FRTIB to collect and maintain records on prospective, current, and former employees with disabilities who request or receive a reasonable accommodation by FRTIB; (2) allow FRTIB to collect and maintain records on prospective, current, and former employees with sincerely held religious beliefs, practices, or observances who request or receive an accommodation by FRTIB; (3) track and report the processing of requests for FRTIB-wide reasonable accommodations to comply with applicable laws and regulations; and (4) preserve and maintain the confidentiality of medical and religious information submitted by or on behalf of applicants or employees requesting a reasonable accommodation. SUPPLEMENTARY INFORMATION: On September 9, 2021, the President issued Executive Order 14043, Executive Order on Requiring Coronavirus Disease 2019 Vaccination for Federal Employees, requiring the COVID–19 vaccination for all Federal employees, subject to such exceptions as required by law. On October 4, 2021, the Safer Federal Workforce Task Force issued guidance to Federal agencies regarding collecting information for medical and religious accommodations. In order to meet the requirements of Executive Order 14043 and the Task Force recommendations, the FRTIB is modifying this system of records notice to include the collection of information related to religious accommodations. Changes being made to this SORN are for that purpose and include changes to the Authority for Maintenance of the System, Purpose(s) of the System, Categories of Individuals Covered by the System, Categories of Records in the System, Routine Uses of Records Maintained in the System, Policies and Practices for Retention and Disposal of Records, and the Publication History of the System of Records Notice. There are no new routine uses being published at this time; four previously published routine uses have been removed from this publication of SORN FRTIB–18. In accordance with 5 U.S.C. 552a(r), the Agency has provided a report to E:\FR\FM\18NON1.SGM 18NON1

Agencies

[Federal Register Volume 86, Number 220 (Thursday, November 18, 2021)]
[Notices]
[Pages 64477-64478]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-25195]


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FEDERAL RESERVE SYSTEM


Formations of, Acquisitions by, and Mergers of Bank Holding 
Companies

    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 December 20, 2021.
    A. Federal Reserve Bank of Dallas (Karen Smith, Director, 
Applications) 2200 North Pearl Street, Dallas, Texas 75201-2272:

[[Page 64478]]

    1. Animo Bancorp, Inc., Ganado, Texas; to become a bank holding 
company by acquiring Ganado Bancshares, Inc, and thereby indirectly 
acquiring The Citizens State Bank of Ganado, both of Ganado, Texas.
    B. Federal Reserve Bank of Atlanta (Erien O. Terry, Assistant Vice 
President) 1000 Peachtree Street NE, Atlanta, Georgia 30309. Comments 
can also be sent electronically to [email protected]:
    1. CB Investment Holdings, LLC, Nashville, Tennessee; to become a 
bank holding company by acquiring CSB&T Bancorp, Inc., and thereby 
indirectly acquiring Citizens Savings Bank & Trust Company, both of 
Nashville, Tennessee.

    Board of Governors of the Federal Reserve System, November 15, 
2021.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2021-25195 Filed 11-17-21; 8:45 am]
BILLING CODE P
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