Proposed Agency Information Collection Activities; Comment Request, 11706-11707 [2022-04345]

Download as PDF 11706 Federal Register / Vol. 87, No. 41 / Wednesday, March 2, 2022 / Notices of the CEA,1 which prohibits a United States financial institution and its related persons under the supervision of a Federal regulatory agency, such as the Board, from offering or entering into certain types of foreign exchange transactions with retail customers except pursuant to a rule or regulation prescribed by the appropriate Federal regulatory agency allowing the transaction under such terms and conditions as the Federal regulatory agency shall prescribe.2 Regulation NN’s reporting, recordkeeping, and disclosure requirements are mandatory for banking institutions that engage in retail foreign exchange transactions. The reporting requirement under section 240.4 of Regulation NN requires a banking institution to provide a prior written notice to the Board that includes information concerning customer due diligence; the policies and procedures for haircuts to be applied to noncash margin; information concerning new product approvals; and information on addressing conflicts of interest. This information is likely to constitute nonpublic commercial or financial information, which is both customarily and actually treated as private by the respondent, and thus may be kept confidential by the Board pursuant to exemption 4 of the Freedom of Information Act (FOIA).3 In addition, the prior written notice must also include a resolution of the banking institution’s board of directors certifying that the institution has written policies, procedures, and risk measurement and management systems and controls in place to ensure retail foreign exchange transactions are conducted in a safe and sound manner and in compliance with Regulation NN. Generally, this resolution by the board of directors would not be accorded confidential treatment. If confidential treatment is requested by a banking institution, the Board will review the request to determine if confidential treatment is appropriate. The records and disclosures required by Regulation NN generally are not submitted to the Federal Reserve. 17 U.S.C. 2(c)(2)(E). the Board also has the authority to require reports from state member banks under section 11 of the Federal Reserve Act (FRA), 12 U.S.C. 248; from branches of foreign banks under sections 9 and 13 of the International Banking Act of 1978, 12 U.S.C. 3106a and 3108; from bank holding companies under section 5(b) and (c) of the Bank Holding Company Act of 1956, 12 U.S.C. 1844(b) and (c); from savings and loan holding companies under section 10 of the Home Owners’ Loan Act, 12 U.S.C. 1467a(b) and (g); from Edge Act corporations under section 25A(17) of the FRA, 12 U.S.C. 625; and from agreement corporations under section 25 of the FRA, 12 U.S.C. 601–604a. 3 5 U.S.C. 552(b)(4). lotter on DSK11XQN23PROD with NOTICES1 2 Additionally, VerDate Sep<11>2014 17:34 Mar 01, 2022 Jkt 256001 Accordingly, confidentiality issues generally do not arise under the FOIA. In the event such records or disclosures are obtained by the Federal Reserve through the examination or enforcement process, such information may be kept confidential under exemption 8 of the FOIA,4 which protects information contained in or related to an examination of a financial institution. Current actions: On November 23, 2021, the Board published a notice in the Federal Register (86 FR 66561) requesting public comment for 60 days on the extension, without revision, of the FR NN. The comment period for this notice expired on January 24, 2022. The Board did not receive any comments. Board of Governors of the Federal Reserve System, February 24, 2022. Michele Taylor Fennell, Deputy Associate Secretary of the Board. [FR Doc. 2022–04347 Filed 3–1–22; 8:45 am] BILLING CODE 6210–01–P FEDERAL RESERVE SYSTEM [FR 4008; OMB No. 7100–0131] Proposed Agency Information Collection Activities; Comment Request Board of Governors of the Federal Reserve System. ACTION: Notice, request for comment. AGENCY: The Board of Governors of the Federal Reserve System (Board) invites comment on a proposal to extend for three years, without revision, the Notice of Proposed Stock Redemption. DATES: Comments must be submitted on or before May 2, 2022. ADDRESSES: You may submit comments, identified by FR 4008, by any of the following methods: • Agency website: https:// www.federalreserve.gov/. Follow the instructions for submitting comments at https://www.federalreserve.gov/apps/ foia/proposedregs.aspx. • Email: regs.comments@ federalreserve.gov. Include the OMB number or FR number in the subject line of the message. • Fax: (202) 452–3819 or (202) 452– 3102. • Mail: Ann E. Misback, Secretary, Board of Governors of the Federal Reserve System, 20th Street and Constitution Avenue NW, Washington, DC 20551. All public comments are available from the Board’s website at https:// www.federalreserve.gov/apps/foia/ SUMMARY: 45 PO 00000 U.S.C. 552(b)(8). Frm 00021 Fmt 4703 Sfmt 4703 proposedregs.aspx as submitted, unless modified for technical reasons or to remove personally identifiable information at the commenter’s request. Accordingly, comments will not be edited to remove any confidential business information, identifying information, or contact information. Public comments may also be viewed electronically or in paper in Room M– 4365A, 2001 C St NW, Washington, DC 20551, between 9:00 a.m. and 5:00 p.m. on weekdays. For security reasons, the Board requires that visitors make an appointment to inspect comments. You may do so by calling (202) 452–3684. Upon arrival, visitors will be required to present valid government-issued photo identification and to submit to security screening in order to inspect and photocopy comments. Additionally, commenters may send a copy of their comments to the Office of Management and Budget (OMB) Desk Officer for the Federal Reserve Board, 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. 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. On June 15, 1984, OMB delegated to the Board authority under the Paperwork Reduction Act (PRA) to approve and assign OMB control numbers to collections of information conducted or sponsored by the Board. In exercising this delegated authority, the Board is directed to take every reasonable step to solicit comment. In determining whether to approve a collection of information, the Board will consider all comments received from the public and other agencies. During the comment period for this proposal, a copy of the proposed PRA OMB submission, including the draft reporting form and instructions, supporting statement, and other documentation, will be made available on the 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 versions of these documents will be made available at https:// www.reginfo.gov/public/do/PRAMain, if approved. SUPPLEMENTARY INFORMATION: E:\FR\FM\02MRN1.SGM 02MRN1 Federal Register / Vol. 87, No. 41 / Wednesday, March 2, 2022 / Notices Request for Comment on Information Collection Proposal The Board invites public comment on the following information collection, which is being reviewed under authority delegated by the OMB under the PRA. Comments are invited on the following: a. Whether the proposed collection of information is necessary for the proper performance of the Board’s functions, including whether the information has practical utility; b. The accuracy of the Board’s estimate of the burden of the proposed 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; d. Ways to minimize the burden of information collection on respondents, including through the use of automated collection techniques or other forms of information technology; and e. Estimates of capital or startup costs and costs of operation, maintenance, and purchase of services to provide information. At the end of the comment period, the comments and recommendations received will be analyzed to determine the extent to which the Board should modify the proposal. lotter on DSK11XQN23PROD with NOTICES1 Proposal Under OMB Delegated Authority To Extend for Three Years, Without Revision, the Following Information Collection Report title: Notice of Proposed Stock Redemption. Agency form number: FR 4008. OMB control number: 7100–0131. Frequency: On occasion. Respondents: Bank holding companies (BHCs). Estimated number of respondents: 6. Estimated average hours per response: 15.5. Estimated annual burden hours: 93. General description of report: The Bank Holding Company Act of 1956 (BHC Act) and Board’s Regulation Y— Bank Holding Companies and Change in Bank Control (12 CFR 225) require a BHC to seek the prior approval of the Board before purchasing or redeeming its equity securities in certain circumstances. Due to the limited information that a BHC must provide in connection with any such request, there is no required reporting form (the FR 4008 designation is for internal purposes only), and each request for prior approval is generally filed 30 days before the proposed stock purchase or redemption as a notification with the VerDate Sep<11>2014 17:34 Mar 01, 2022 Jkt 256001 Reserve Bank that has direct supervisory responsibility for the requesting BHC. The Federal Reserve uses the information provided in the redemption notices to supervise BHCs. Legal authorization and confidentiality: The FR 4008 is authorized pursuant to sections 5(b) and (c) of the Bank Holding Company Act (BHC Act).1 Section 5(b) of the BHC Act, as amended by section 616 of the DoddFrank Wall Street Reform and Consumer Protection Act,2 authorizes the Board to ‘‘issue such regulations and orders, including regulations and orders relating to the capital requirements for bank holding companies, as may be necessary to enable it to administer and carry out the purposes of this chapter and prevent evasions thereof.’’ Section 5(c) of the BHC Act generally authorizes the Board to, among other things, require reports from BHCs on a range of issues. The FR 4008 is required for certain BHCs to obtain the benefit of being able to purchase or redeem their equity securities. Individual respondents may request that data submitted be kept confidential on a case-by-case basis. If a respondent requests confidential treatment, the Board will determine whether the information is entitled to confidential treatment on an ad hoc basis. Requests may include information related to the BHC’s business operations, such as terms and sources of the funding for the redemption and pro forma balance sheets. To the extent that this information constitutes nonpublic commercial or financial information, which is both customarily and actually treated as private by the respondent, it may be kept confidential under exemption 4 of the Freedom of Information Act, which exempts ‘‘trade secrets and commercial or financial information obtained from a person and privileged or confidential.’’ 3 Board of Governors of the Federal Reserve System, February 24, 2022. Michele Taylor Fennell, Deputy Associate Secretary of the Board. 11707 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 16, 2022. A. Federal Reserve Bank of Dallas (Karen Smith, Director, Applications) 2200 North Pearl Street, Dallas, Texas 75201–2272: 1. The MES 2022 Trust and Marvin Edward Singleton, IV, individually, and as trustee, both of Waxahachie, Texas; to join the Marvin Edward Singleton, III Family Control Group, a group acting in concert, to acquire voting shares of First Citizens Bancshares, Inc., and thereby indirectly acquire voting shares of Citizens National Bank of Texas, both of Waxahachie, Texas. Board of Governors of the Federal Reserve System, February 25, 2022. Michele Taylor Fennell, Deputy Associate Secretary of the Board. [FR Doc. 2022–04395 Filed 3–1–22; 8:45 am] BILLING CODE 6210–01–P [FR Doc. 2022–04345 Filed 3–1–22; 8:45 am] FEDERAL RESERVE SYSTEM BILLING CODE 6210–01–P [FR 4004; OMB No. 7100–0112] 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 12 U.S.C. 1844(b) and (c). Public Law 111–203, 124 Stat. 1376 (2010). 3 5 U.S.C. 552(b)(4). 1 2 PO 00000 Frm 00022 Fmt 4703 Sfmt 4703 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 adopting a proposal to extend for three years, without revision, the Written AGENCY: E:\FR\FM\02MRN1.SGM 02MRN1

Agencies

[Federal Register Volume 87, Number 41 (Wednesday, March 2, 2022)]
[Notices]
[Pages 11706-11707]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-04345]


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FEDERAL RESERVE SYSTEM

[FR 4008; OMB No. 7100-0131]


Proposed Agency Information Collection Activities; Comment 
Request

AGENCY: Board of Governors of the Federal Reserve System.

ACTION: Notice, request for comment.

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

SUMMARY: The Board of Governors of the Federal Reserve System (Board) 
invites comment on a proposal to extend for three years, without 
revision, the Notice of Proposed Stock Redemption.

DATES: Comments must be submitted on or before May 2, 2022.

ADDRESSES: You may submit comments, identified by FR 4008, by any of 
the following methods:
     Agency website: https://www.federalreserve.gov/. Follow 
the instructions for submitting comments at https://www.federalreserve.gov/apps/foia/proposedregs.aspx.
     Email: [email protected]. Include the OMB 
number or FR number in the subject line of the message.
     Fax: (202) 452-3819 or (202) 452-3102.
     Mail: Ann E. Misback, Secretary, Board of Governors of the 
Federal Reserve System, 20th Street and Constitution Avenue NW, 
Washington, DC 20551.
    All public comments are available from the Board's website at 
https://www.federalreserve.gov/apps/foia/proposedregs.aspx as 
submitted, unless modified for technical reasons or to remove 
personally identifiable information at the commenter's request. 
Accordingly, comments will not be edited to remove any confidential 
business information, identifying information, or contact information. 
Public comments may also be viewed electronically or in paper in Room 
M-4365A, 2001 C St NW, Washington, DC 20551, between 9:00 a.m. and 5:00 
p.m. on weekdays. For security reasons, the Board requires that 
visitors make an appointment to inspect comments. You may do so by 
calling (202) 452-3684. Upon arrival, visitors will be required to 
present valid government-issued photo identification and to submit to 
security screening in order to inspect and photocopy comments.
    Additionally, commenters may send a copy of their comments to the 
Office of Management and Budget (OMB) Desk Officer for the Federal 
Reserve Board, 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.

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.

SUPPLEMENTARY INFORMATION: On June 15, 1984, OMB delegated to the Board 
authority under the Paperwork Reduction Act (PRA) to approve and assign 
OMB control numbers to collections of information conducted or 
sponsored by the Board. In exercising this delegated authority, the 
Board is directed to take every reasonable step to solicit comment. In 
determining whether to approve a collection of information, the Board 
will consider all comments received from the public and other agencies.
    During the comment period for this proposal, a copy of the proposed 
PRA OMB submission, including the draft reporting form and 
instructions, supporting statement, and other documentation, will be 
made available on the 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 
versions of these documents will be made available at https://www.reginfo.gov/public/do/PRAMain, if approved.

[[Page 11707]]

Request for Comment on Information Collection Proposal

    The Board invites public comment on the following information 
collection, which is being reviewed under authority delegated by the 
OMB under the PRA. Comments are invited on the following:
    a. Whether the proposed collection of information is necessary for 
the proper performance of the Board's functions, including whether the 
information has practical utility;
    b. The accuracy of the Board's estimate of the burden of the 
proposed 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;
    d. Ways to minimize the burden of information collection on 
respondents, including through the use of automated collection 
techniques or other forms of information technology; and
    e. Estimates of capital or startup costs and costs of operation, 
maintenance, and purchase of services to provide information.
    At the end of the comment period, the comments and recommendations 
received will be analyzed to determine the extent to which the Board 
should modify the proposal.

Proposal Under OMB Delegated Authority To Extend for Three Years, 
Without Revision, the Following Information Collection

    Report title: Notice of Proposed Stock Redemption.
    Agency form number: FR 4008.
    OMB control number: 7100-0131.
    Frequency: On occasion.
    Respondents: Bank holding companies (BHCs).
    Estimated number of respondents: 6.
    Estimated average hours per response: 15.5.
    Estimated annual burden hours: 93.
    General description of report: The Bank Holding Company Act of 1956 
(BHC Act) and Board's Regulation Y--Bank Holding Companies and Change 
in Bank Control (12 CFR 225) require a BHC to seek the prior approval 
of the Board before purchasing or redeeming its equity securities in 
certain circumstances. Due to the limited information that a BHC must 
provide in connection with any such request, there is no required 
reporting form (the FR 4008 designation is for internal purposes only), 
and each request for prior approval is generally filed 30 days before 
the proposed stock purchase or redemption as a notification with the 
Reserve Bank that has direct supervisory responsibility for the 
requesting BHC. The Federal Reserve uses the information provided in 
the redemption notices to supervise BHCs.
    Legal authorization and confidentiality: The FR 4008 is authorized 
pursuant to sections 5(b) and (c) of the Bank Holding Company Act (BHC 
Act).\1\ Section 5(b) of the BHC Act, as amended by section 616 of the 
Dodd-Frank Wall Street Reform and Consumer Protection Act,\2\ 
authorizes the Board to ``issue such regulations and orders, including 
regulations and orders relating to the capital requirements for bank 
holding companies, as may be necessary to enable it to administer and 
carry out the purposes of this chapter and prevent evasions thereof.'' 
Section 5(c) of the BHC Act generally authorizes the Board to, among 
other things, require reports from BHCs on a range of issues. The FR 
4008 is required for certain BHCs to obtain the benefit of being able 
to purchase or redeem their equity securities.
---------------------------------------------------------------------------

    \1\ 12 U.S.C. 1844(b) and (c).
    \2\ Public Law 111-203, 124 Stat. 1376 (2010).
---------------------------------------------------------------------------

    Individual respondents may request that data submitted be kept 
confidential on a case-by-case basis. If a respondent requests 
confidential treatment, the Board will determine whether the 
information is entitled to confidential treatment on an ad hoc basis. 
Requests may include information related to the BHC's business 
operations, such as terms and sources of the funding for the redemption 
and pro forma balance sheets. To the extent that this information 
constitutes nonpublic commercial or financial information, which is 
both customarily and actually treated as private by the respondent, it 
may be kept confidential under exemption 4 of the Freedom of 
Information Act, which exempts ``trade secrets and commercial or 
financial information obtained from a person and privileged or 
confidential.'' \3\
---------------------------------------------------------------------------

    \3\ 5 U.S.C. 552(b)(4).

    Board of Governors of the Federal Reserve System, February 24, 
2022.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2022-04345 Filed 3-1-22; 8:45 am]
BILLING CODE 6210-01-P