Change in Bank Control Notices; Acquisitions of Shares of a Bank or Bank Holding Company, 77119-77120 [2022-27249]
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Federal Register / Vol. 87, No. 241 / Friday, December 16, 2022 / Notices
supervisory determination(s) within 45
days after the date the SARC meets to
consider the appeal, which meeting will
be held within 90 days after either the
date of the filing of the appeal or the
date that the Division Director refers the
appeal to the SARC.
8. Other Communications
Materials considered by the SARC
will be shared with both parties to the
appeal, subject to applicable legal
limitations on disclosure, on a timely
basis. The Ombudsman will verify that
both parties have received all materials
considered by the SARC.
lotter on DSK11XQN23PROD with NOTICES1
H. Publication of Decisions
Decisions of the SARC will be
published as soon as practicable, and
the published decisions will be redacted
to avoid disclosure of the name of the
appealing institution and any
information exempt from disclosure
under the Freedom of Information Act
and the FDIC’s document disclosure
regulations found in 12 CFR part 309. In
cases in which redaction is deemed
insufficient to prevent improper
disclosure, published decisions may be
presented in summary form. Published
SARC decisions may be cited as
precedent in appeals to the SARC.
Annual reports on the SARC’s decisions
and Division Directors’ decisions with
respect to institutions’ requests for
review of material supervisory
determinations also will be published.
I. Appeal Guidelines Generally
Appeals to the SARC will be governed
by these Guidelines. The SARC, with
the concurrence of the Legal Division,
will retain discretion to waive any
provision of the Guidelines for good
cause. Supplemental rules governing the
SARC’s operations may be adopted.
Institutions may request extensions of
the time period for submitting appeals
under these Guidelines from either the
appropriate Division Director or the
SARC Chairperson, as appropriate. If a
filing under these Guidelines is due on
a Saturday, Sunday, or a Federal
holiday, the filing may be made on the
next business day.
Institutions may request a stay of a
supervisory action or determination
from the Division Director while an
appeal of that determination is pending.
The request must be in writing and
include the reason(s) for the stay. The
Division Director has discretion to grant
a stay and will generally decide whether
to grant a stay within 21 days of
receiving the institution’s request,
providing the institution with the
reason(s) for his or her decision in
writing. A stay may be granted subject
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to conditions, including time
limitations, where appropriate.
J. Coordination With State Regulatory
Authorities
In the event that a material
supervisory determination subject to a
request for review is the joint product of
the FDIC and a State regulatory
authority, the Director, DCP, the
Director, RMS, or the Director, CISR, as
appropriate, will promptly notify the
appropriate State regulatory authority of
the request, provide the regulatory
authority with a copy of the institution’s
request for review and any other related
materials, and solicit the regulatory
authority’s views regarding the merits of
the request before making a
determination. In the event that an
appeal is subsequently filed with the
SARC, the SARC will notify the
institution and the State regulatory
authority of its decision. Once the SARC
has issued its determination, any other
issues that may remain between the
institution and the State regulatory
authority will be left to those parties to
resolve.
K. Effect on Supervisory or Enforcement
Actions
The use of the procedures set forth in
these Guidelines by any institution will
not affect, delay, or impede any formal
or informal supervisory or enforcement
action in progress during the appeal or
affect the FDIC’s authority to take any
supervisory or enforcement action
against that institution.
L. Effect on Applications or Requests for
Approval
Any application or request for
approval made to the FDIC by an
institution that has appealed a material
supervisory determination that relates
to, or could affect the approval of, the
application or request will not be
considered until a final decision
concerning the appeal is made unless
otherwise requested by the institution.
M. Prohibition on Examiner Retaliation
The FDIC has an experienced
examination workforce and is proud of
its professionalism and dedication.
FDIC policy prohibits any retaliation,
abuse, or retribution by an agency
examiner or any FDIC personnel against
an institution. Such behavior against an
institution that appeals a material
supervisory determination constitutes
unprofessional conduct and will subject
the examiner or other personnel to
appropriate disciplinary or remedial
action. In light of this important
principle, the Ombudsman will monitor
the supervision process following an
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77119
institution’s submission of an appeal
under these Guidelines. The
Ombudsman will report to the Board on
these matters periodically.
Institutions that believe they have
been retaliated against are encouraged to
contact the Regional Director for the
appropriate FDIC region. Any
institution that believes or has any
evidence that it has been subject to
retaliation may file a complaint with the
Director, Office of the Ombudsman,
Federal Deposit Insurance Corporation,
3501 Fairfax Drive, Suite E–2022,
Arlington, VA, 22226, explaining the
circumstances and the basis for such
belief or evidence and requesting that
the complaint be investigated and
appropriate disciplinary or remedial
action taken. The Office of the
Ombudsman will work with the
appropriate Division Director to resolve
the allegation of retaliation.
Federal Deposit Insurance Corporation.
By order of the Board of Directors.
Dated at Washington, DC, on December 13,
2022.
James P. Sheesley,
Assistant Executive Secretary.
[FR Doc. 2022–27351 Filed 12–15–22; 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
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
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77120
Federal Register / Vol. 87, No. 241 / Friday, December 16, 2022 / Notices
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 30, 2022.
A. Federal Reserve Bank of Chicago
(Colette A. Fried, Assistant Vice
President) 230 South LaSalle Street,
Chicago, Illinois 60690–1414:
1. Jessica White, Sue Ellen White, and
Masakazu Miyagi, all of Covington,
Indiana; and Thomas Benjamin Loda,
Olomouc, Czech Republic; to join the
White Family Control Group, a group
acting in concert, to retain voting shares
of Piper Holdings, Inc., and thereby
indirectly retain voting shares of The
Fountain Trust Company, both of
Covington, Indiana.
In addition, the Kip White Irrevocable
Trust For Stock of Piper Holdings, Inc.,
Kipling Campbell White and Lucas
White, as co-trustees, all of Covington,
Indiana; to join the White Family
Control Group, to acquire voting shares
of Piper Holdings, Inc., and thereby
indirectly acquire voting shares of The
Fountain Trust Company.
Board of Governors of the Federal Reserve
System.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2022–27249 Filed 12–15–22; 8:45 am]
BILLING CODE P
FEDERAL RESERVE SYSTEM
[Docket No. OP–1794]
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 2022 aggregate global indicator
SUMMARY:
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 2022 aggregate global
indicator amounts are effective
December 16, 2022.
FOR FURTHER INFORMATION CONTACT: Juan
Climent, Assistant Director (202) 872–
7526, Brian Chernoff, Manager (202)
452–2952, Christopher Appel, Lead
Financial Institution Policy Analyst,
(202) 973–6862, Naima Jefferson, Lead
Financial Institution Policy Analyst,
(202) 912–4613, or Alexander Jiron,
Senior Financial Institution Policy
Analyst I, (202) 450–7350, Division of
Supervision and Regulation; or Mark
Buresh, Special Counsel, (202) 452–
5270, or Jonah Kind, Senior Counsel,
(202) 452–2045, Legal Division, Board of
Governors of the Federal Reserve
System, 20th and C Streets NW,
Washington, DC 20551. For the hearing
impaired and users of
Telecommunications Device for the Deaf
(TDD) and TTY–TRS, please call 711
from any telephone, anywhere in the
United States.
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, crossjurisdictional 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. A firm that
calculates a Method 1 score of 130 basis
points or more is identified as a GSIB
under the GSIB surcharge rule. The
GSIB surcharge for a firm is the higher
of the GSIB surcharge determined under
Method 1 and a second method, Method
2, which is calculated based on
measures of size, interconnectedness,
cross-jurisdictional activity, complexity,
and 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 2022 aggregate global indicator
amounts, the Board uses the year-end
2021 euro-denominated indicator
amounts published by the BCBS and
multiplies each of the eurodenominated indicator amounts by
1.1326, the euro to U.S. dollar spot
exchange rate on December 31, 2021.5
The aggregate global indicator
amounts expressed in U.S. dollars for
purposes of the 2022 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 2022
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 .....................................
Substitutability ......................................
lotter on DSK11XQN23PROD with NOTICES1
Aggregate global
indicator amount
(in USD)
Category
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
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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); see also 80 FR 49082,
49086–87 (August 14, 2015). In addition, the Board
maintains the GSIB Framework Denominators on its
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Fmt 4703
Sfmt 4703
111,533,327,831,520
10,678,025,771,171
11,153,556,096,294
17,488,749,541,061
3,169,043,506,242,536
236,228,379,798,411
9,890,925,779,988
website, available at https://www.federalreserve.
gov/bankinforeg/basel/denominators.htm.
5 Foreign exchange rates provided by the BCBS.
Available at https://www.bis.org/bcbs/gsib/
denominators/gsib_framework_denominators_
end21_exercise.xlsx.
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]]>Agencies
[Federal Register Volume 87, Number 241 (Friday, December 16, 2022)]
[Notices]
[Pages 77119-77120]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-27249]
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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 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
[[Page 77120]]
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 30, 2022.
A. Federal Reserve Bank of Chicago (Colette A. Fried, Assistant
Vice President) 230 South LaSalle Street, Chicago, Illinois 60690-1414:
1. Jessica White, Sue Ellen White, and Masakazu Miyagi, all of
Covington, Indiana; and Thomas Benjamin Loda, Olomouc, Czech Republic;
to join the White Family Control Group, a group acting in concert, to
retain voting shares of Piper Holdings, Inc., and thereby indirectly
retain voting shares of The Fountain Trust Company, both of Covington,
Indiana.
In addition, the Kip White Irrevocable Trust For Stock of Piper
Holdings, Inc., Kipling Campbell White and Lucas White, as co-trustees,
all of Covington, Indiana; to join the White Family Control Group, to
acquire voting shares of Piper Holdings, Inc., and thereby indirectly
acquire voting shares of The Fountain Trust Company.
Board of Governors of the Federal Reserve System.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2022-27249 Filed 12-15-22; 8:45 am]
BILLING CODE P
