Regulation Q; Regulatory Capital Rules: Risk-Based Capital Surcharges for Global Systemically Important Bank Holding Companies, 71639-71640 [2021-27294]

Download as PDF Federal Register / Vol. 86, No. 240 / Friday, December 17, 2021 / Notices FEDERAL MARITIME COMMISSION [Docket No. 21–11] OJ Commerce, LLC, Complainant v. Hamburg Su¨damerikanische Dampfschifffahrts-Gesellschaft A/S & Co KG and Hamburg Sud North America, Inc., Respondents; Notice of Filing of Complaint and Assignment Served: December 13, 2021. Notice is given that a complaint has been filed with the Federal Maritime Commission (‘‘Commission’’) by OJ Commerce, LLC, hereinafter ‘‘Complainant’’, against Hamburg Su¨damerikanische DampfschifffahrtsGesellschaft A/S & Co KG (‘‘Hamburg’’) and Hamburg Sud North America, Inc (‘‘Hamburg NA’’), hereinafter ‘‘Respondents.’’ Complainant alleges that Respondent Hamburg is a German common carrier and that Respondent Hamburg NA is a Delaware corporation and a marine terminal operator. Complainant alleges that Respondents violated 46 U.S.C. 41102(c) and 46 CFR 545.4 and 545.5 with regard to the movement of containers. The full text of the complaint can be found in the Commission’s Electronic Reading Room at https://www2.fmc.gov/readingroom/ proceeding/21-11/. This proceeding has been assigned to Office of Administrative Law Judges. The initial decision of the presiding office in this proceeding shall be issued by December 13, 2022, and the final decision of the Commission shall be issued by June 27, 2023. JoAnne O’Bryant, Program Analyst. BILLING CODE 6730–02–P FEDERAL RESERVE SYSTEM jspears on DSK121TN23PROD with NOTICES1 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 17:39 Dec 16, 2021 Jkt 256001 Board of Governors of the Federal Reserve System, December 14, 2021. Michele Taylor Fennell, Deputy Associate Secretary of the Board. [FR Doc. 2021–27352 Filed 12–16–21; 8:45 am] BILLING CODE 6210–01–P 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 January 3, 2022. A. Federal Reserve Bank of Richmond (Adam M. Drimer, Assistant Vice President) 701 East Byrd Street, Richmond, Virginia 23219. Comments can also be sent electronically to Comments.applications@rich.frb.org: 1. PL Capital, LLC, a limited liability company; Goodbody/PL Capital LLC, a limited liability company; Financial Edge Fund, L.P., a limited partnership; Financial Edge-Strategic Fund, L.P., a limited partnership; PL Capital/Focused Fund, L.P., a limited partnership; Goodbody/PL Capital, L.P., a limited partnership; PL Capital Advisors, LLC, a limited liability company; and Messrs. John William Palmer and Richard John Lashley, all of Naples, Florida; to acquire voting shares of Old Point Financial Corporation, and thereby indirectly acquire voting shares of The Old Point National Bank of Phoebus, both of Hampton, Virginia. Board of Governors of the Federal Reserve System, December 13, 2021. Michele Taylor Fennell, Deputy Associate Secretary of the Board. [FR Doc. 2021–27297 Filed 12–16–21; 8:45 am] FEDERAL RESERVE SYSTEM Change in Bank Control Notices; Acquisitions of Shares of a Bank or Bank Holding Company [FR Doc. 2021–27332 Filed 12–16–21; 8:45 am] VerDate Sep<11>2014 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 January 18, 2022. A. Federal Reserve Bank of St. Louis (Holly A. Rieser, Manager) P.O. Box 442, St. Louis, Missouri 63166–2034. Comments can also be sent electronically to Comments.applications@stls.frb.org: 1. United Community Bancshares, Inc., Morganfield, Kentucky; to acquire Dixon Bank, Dixon, Kentucky. 71639 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 PO 00000 Frm 00027 Fmt 4703 Sfmt 4703 BILLING CODE 6210–01–P FEDERAL RESERVE SYSTEM [Docket No. OP–1764] Regulation Q; Regulatory Capital Rules: Risk-Based Capital Surcharges for Global Systemically Important Bank Holding Companies Board of Governors of the Federal Reserve System (Board). ACTION: Notice. AGENCY: The Board is providing notice of the 2021 aggregate global indicator amounts, as required under the Board’s rule regarding risk-based capital surcharges for global systemically important bank holding companies (GSIB surcharge rule). DATES: The 2021 aggregate global indicator amounts are effective December 17, 2021. FOR FURTHER INFORMATION CONTACT: Juan Climent, Assistant Director (202) 872– 7526, Naima Jefferson, Lead Financial Institution Policy Analyst, (202) 912– 4613, Christopher Appel, Senior SUMMARY: E:\FR\FM\17DEN1.SGM 17DEN1 71640 Federal Register / Vol. 86, No. 240 / Friday, December 17, 2021 / Notices Financial Institution Policy Analyst II, (202) 973–6862, or Jennifer McClean, Senior Financial Institution Policy Analyst II, (202) 785–6033, Division of Supervision and Regulation; or Mark Buresh, Senior Counsel, (202) 452–5270, or Jonah Kind, Counsel, (202) 452–2045, Legal Division. Board of Governors of the Federal Reserve System, 20th and C Streets NW, Washington, DC 20551. The Board’s GSIB surcharge rule establishes a methodology to identify global systemically important bank holding companies in the United States (GSIBs) based on indicators that are correlated with systemic importance.1 Under the GSIB surcharge rule, a firm must calculate its GSIB score using a specific formula (Method 1). Method 1 uses five equally weighted categories that are correlated with systemic importance— size, interconnectedness, crossjurisdictional activity, substitutability, SUPPLEMENTARY INFORMATION: and complexity—and subdivided into twelve systemic indicators. A firm divides its own measure of each systemic indicator by an aggregate global indicator amount. A firm’s Method 1 score is the sum of its weighted systemic indicator scores expressed in basis points. The GSIB surcharge for a firm is the higher of the GSIB surcharge determined under Method 1 and a second method, Method 2, which weighs size, interconnectedness, cross-jurisdictional activity, complexity, and a measure of the firm’s reliance on short-term wholesale funding.2 The aggregate global indicator amounts used in the score calculation under Method 1 are based on data collected by the Basel Committee on Banking Supervision (BCBS). The BCBS amounts are determined based on the sum of the systemic indicator amounts as reported by the 75 largest U.S. and foreign banking organizations as measured by the BCBS, and any other banking organization that the BCBS includes in its sample total for that year. The BCBS publicly releases these amounts, denominated in euros, each year.3 Pursuant to the GSIB surcharge rule, the Board publishes the aggregate global indicator amounts each year as denominated in U.S. dollars using the euro-dollar exchange rate provided by the BCBS.4 Specifically, to determine the 2021 aggregate global indicator amounts, the Board multiplied each of the euro-denominated indicator amounts made publicly available by the BCBS by 1.2271, which was the daily euro to U.S. dollar spot rate on December 31, 2020, as published by the European Central Bank.5 The aggregate global indicator amounts for purposes of the 2021 Method 1 score calculation under § 217.404(b)(1)(i)(B) of the GSIB surcharge rule are: AGGREGATE GLOBAL INDICATOR AMOUNTS IN U.S. DOLLARS (USD) FOR 2021 Systemic indicator Size ............................................................... Interconnectedness ...................................... Total exposures .............................................................................. Intra-financial system assets .......................................................... Intra-financial system liabilities ....................................................... Securities outstanding .................................................................... Payments activity ............................................................................ Assets under custody ..................................................................... Underwritten transactions in debt and equity markets ................... Notional amount of over-the-counter (OTC) derivatives ................ Trading and available-for-sale (AFS) securities ............................. Level 3 assets ................................................................................ Cross-jurisdictional claims .............................................................. Cross-jurisdictional liabilities ........................................................... Substitutability ............................................... Complexity .................................................... Cross-jurisdictional activity ........................... Authority: 12 U.S.C. 248(a), 321–338a, 481–486, 1462a, 1467a, 1818, 1828, 1831n, 1831o, 1831p-l, 1831w, 1835, 1844(b), 1851, 3904, 3906–3909, 4808, 5365, 5368, 5371. By order of the Board of Governors of the Federal Reserve System, acting through the Director of Supervision and Regulation under delegated authority, December 13, 2021. Ann E. Misback, Secretary of the Board. [FR Doc. 2021–27294 Filed 12–16–21; 8:45 am] BILLING CODE P 1 See 12 CFR 217.402, 217.404. 2 uses similar inputs to those used in Method 1, but replaces the substitutability category with a measure of a firm’s use of short-term wholesale funding. In addition, Method 2 is calibrated differently from Method 1. 2 Method VerDate Sep<11>2014 17:39 Dec 16, 2021 Jkt 256001 [Notice MG–2021–04; Docket No. 2021– 0002; Sequence No. 31] Office of Federal High-Performance Green Buildings; Green Building Advisory Committee; Notification of Upcoming Web-Based Public Meetings Office of Government-wide Policy, General Services Administration (GSA). AGENCY: Notice of public meetings. 3 The data used by the Board are available on the BCBS website at https://www.bis.org/bcbs/gsib/ denominators.htm. 4 12 CFR 217.404(b)(1)(i)(B); 80 FR 49082, 49086– 87 (August 14, 2015). In addition, the Board maintains the GSIB Framework Denominators on its website, available at https:// www.federalreserve.gov/bankinforeg/basel/ denominators.htm. PO 00000 Frm 00028 Fmt 4703 Sfmt 4703 $104,442,849,410,183 9,525,381,095,179 11,102,596,441,364 16,369,523,590,059 3,056,139,808,380,645 211,665,077,772,201 10,045,419,091,782 640,457,925,001,269 4,158,476,687,737 642,954,578,909 25,173,500,130,034 20,496,206,443,399 Notice of these web-based public meetings is being provided in accordance with GSA policy. This notice provides the schedule for a series of public meetings of the Green Building Advisory Committee’s Federal Building Decarbonization Task Group, which are open for the public to observe. Interested individuals must register to attend as instructed below under SUPPLEMENTARY INFORMATION. SUMMARY: GENERAL SERVICES ADMINISTRATION ACTION: jspears on DSK121TN23PROD with NOTICES1 Aggregate global indicator amount (in USD) Category The Green Building Advisory Committee’s (Committee’s) Federal Building Decarbonization Task Group (Task Group) will hold recurring web- DATES: 5 Foreign exchange rates provided by the BCBS are based on data published by the European Central Bank. Available at both https://www.bis.org/ bcbs/gsib/avexch_end20_gsib.xlsx and https:// www.ecb.europa.eu/stats/policy_and_exchange_ rates/euro_reference_exchange_rates/html/ index.en.html. E:\FR\FM\17DEN1.SGM 17DEN1

Agencies

[Federal Register Volume 86, Number 240 (Friday, December 17, 2021)]
[Notices]
[Pages 71639-71640]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-27294]


-----------------------------------------------------------------------

FEDERAL RESERVE SYSTEM

[Docket No. OP-1764]


Regulation Q; Regulatory Capital Rules: Risk-Based Capital 
Surcharges for Global Systemically Important Bank Holding Companies

AGENCY: Board of Governors of the Federal Reserve System (Board).

ACTION: Notice.

-----------------------------------------------------------------------

SUMMARY: The Board is providing notice of the 2021 aggregate global 
indicator amounts, as required under the Board's rule regarding risk-
based capital surcharges for global systemically important bank holding 
companies (GSIB surcharge rule).

DATES: The 2021 aggregate global indicator amounts are effective 
December 17, 2021.

FOR FURTHER INFORMATION CONTACT: Juan Climent, Assistant Director (202) 
872-7526, Naima Jefferson, Lead Financial Institution Policy Analyst, 
(202) 912-4613, Christopher Appel, Senior

[[Page 71640]]

Financial Institution Policy Analyst II, (202) 973-6862, or Jennifer 
McClean, Senior Financial Institution Policy Analyst II, (202) 785-
6033, Division of Supervision and Regulation; or Mark Buresh, Senior 
Counsel, (202) 452-5270, or Jonah Kind, Counsel, (202) 452-2045, Legal 
Division. Board of Governors of the Federal Reserve System, 20th and C 
Streets NW, Washington, DC 20551.

SUPPLEMENTARY INFORMATION: The Board's GSIB surcharge rule establishes 
a methodology to identify global systemically important bank holding 
companies in the United States (GSIBs) based on indicators that are 
correlated with systemic importance.\1\ Under the GSIB surcharge rule, 
a firm must calculate its GSIB score using a specific formula (Method 
1). Method 1 uses five equally weighted categories that are correlated 
with systemic importance--size, interconnectedness, cross-
jurisdictional activity, substitutability, and complexity--and 
subdivided into twelve systemic indicators. A firm divides its own 
measure of each systemic indicator by an aggregate global indicator 
amount. A firm's Method 1 score is the sum of its weighted systemic 
indicator scores expressed in basis points. The GSIB surcharge for a 
firm is the higher of the GSIB surcharge determined under Method 1 and 
a second method, Method 2, which weighs size, interconnectedness, 
cross-jurisdictional activity, complexity, and a measure of the firm's 
reliance on short-term wholesale funding.\2\
---------------------------------------------------------------------------

    \1\ See 12 CFR 217.402, 217.404.
    \2\ Method 2 uses similar inputs to those used in Method 1, but 
replaces the substitutability category with a measure of a firm's 
use of short-term wholesale funding. In addition, Method 2 is 
calibrated differently from Method 1.
---------------------------------------------------------------------------

    The aggregate global indicator amounts used in the score 
calculation under Method 1 are based on data collected by the Basel 
Committee on Banking Supervision (BCBS). The BCBS amounts are 
determined based on the sum of the systemic indicator amounts as 
reported by the 75 largest U.S. and foreign banking organizations as 
measured by the BCBS, and any other banking organization that the BCBS 
includes in its sample total for that year. The BCBS publicly releases 
these amounts, denominated in euros, each year.\3\ Pursuant to the GSIB 
surcharge rule, the Board publishes the aggregate global indicator 
amounts each year as denominated in U.S. dollars using the euro-dollar 
exchange rate provided by the BCBS.\4\ Specifically, to determine the 
2021 aggregate global indicator amounts, the Board multiplied each of 
the euro-denominated indicator amounts made publicly available by the 
BCBS by 1.2271, which was the daily euro to U.S. dollar spot rate on 
December 31, 2020, as published by the European Central Bank.\5\
---------------------------------------------------------------------------

    \3\ The data used by the Board are available on the BCBS website 
at https://www.bis.org/bcbs/gsib/denominators.htm.
    \4\ 12 CFR 217.404(b)(1)(i)(B); 80 FR 49082, 49086-87 (August 
14, 2015). In addition, the Board maintains the GSIB Framework 
Denominators on its website, available at https://www.federalreserve.gov/bankinforeg/basel/denominators.htm.
    \5\ Foreign exchange rates provided by the BCBS are based on 
data published by the European Central Bank. Available at both 
https://www.bis.org/bcbs/gsib/avexch_end20_gsib.xlsx and https://www.ecb.europa.eu/stats/policy_and_exchange_rates/euro_reference_exchange_rates/html/index.en.html.
---------------------------------------------------------------------------

    The aggregate global indicator amounts for purposes of the 2021 
Method 1 score calculation under Sec.  217.404(b)(1)(i)(B) of the GSIB 
surcharge rule are:

                        Aggregate Global Indicator Amounts in U.S. Dollars (USD) for 2021
----------------------------------------------------------------------------------------------------------------
                                                                                     Aggregate global indicator
                    Category                             Systemic indicator                amount (in USD)
----------------------------------------------------------------------------------------------------------------
Size...........................................  Total exposures..................          $104,442,849,410,183
Interconnectedness.............................  Intra-financial system assets....             9,525,381,095,179
                                                 Intra-financial system                       11,102,596,441,364
                                                  liabilities.                                16,369,523,590,059
                                                 Securities outstanding...........
Substitutability...............................  Payments activity................         3,056,139,808,380,645
                                                 Assets under custody.............           211,665,077,772,201
                                                 Underwritten transactions in debt            10,045,419,091,782
                                                  and equity markets.
Complexity.....................................  Notional amount of over-the-                640,457,925,001,269
                                                  counter (OTC) derivatives.                   4,158,476,687,737
                                                 Trading and available-for-sale                  642,954,578,909
                                                  (AFS) securities.
                                                 Level 3 assets...................
Cross-jurisdictional activity..................  Cross-jurisdictional claims......            25,173,500,130,034
                                                 Cross-jurisdictional liabilities.            20,496,206,443,399
----------------------------------------------------------------------------------------------------------------

    Authority: 12 U.S.C. 248(a), 321-338a, 481-486, 1462a, 1467a, 1818, 
1828, 1831n, 1831o, 1831p-l, 1831w, 1835, 1844(b), 1851, 3904, 3906-
3909, 4808, 5365, 5368, 5371.

    By order of the Board of Governors of the Federal Reserve 
System, acting through the Director of Supervision and Regulation 
under delegated authority, December 13, 2021.
Ann E. Misback,
Secretary of the Board.
[FR Doc. 2021-27294 Filed 12-16-21; 8:45 am]
BILLING CODE P