Regulation Q; Regulatory Capital Rules: Risk-Based Capital Surcharges for Global Systemically Important Bank Holding Companies, 87426-87427 [2023-27671]

Download as PDF 87426 Federal Register / Vol. 88, No. 241 / Monday, December 18, 2023 / Notices designation of the chemical substance’s priority for risk evaluation. If the information is publicly available, citations are sufficient (including, but not limited to: title, author, date of publication, publication source), and the submission does not need to include copies of the information. If the information is publicly available, citations are sufficient (including, but not limited to: Title, author, date of publication, publication source), and the submission does not need to include copies of the information. B. What information is relevant to 10 additional chemical substances that EPA considered for the current round of prioritization? During the pre-prioritization process, EPA met with federal partners, industry, environmental organizations, labor organizations, state and local governments, and tribes to discuss the prioritization process and presented a list of 15 chemical substances that EPA was considering for prioritization. EPA took feedback from these discussions into consideration when selecting the five chemicals for prioritization listed in Unit III.B. Interested persons may submit relevant information on the following chemical substances that are not currently undergoing prioritization by using Docket ID No. EPA–HQ– OPPT–2023–0606. • 4-tert-Octylphenol(4-(1,1,3,3Tetramethylbutyl)-phenol), CAS RN 140–66–9; • Benzene, CAS RN 71–43–2; • Bisphenol A, CAS RN 80–05–7; • Ethylbenzene, CAS RN 100–41–4; • Napthalene, CAS RN 91–20–3; • Styrene, CAS RN 100–42–5; • Tribromomethane, CAS RN 75–25– 2; • Triglycidyl isocyanurate, CAS RN 2451–62–9; • Hydrogen fluoride, CAS RN 7664– 39–3; and • N-(1,3-Dimethylbutyl)-N′-phenyl-pphenylenediamine, CAS RN 793–24–8. khammond on DSKJM1Z7X2PROD with NOTICES C. How will confidential business information be protected? A person seeking to protect from disclosure as ‘‘confidential business information’’ any information that person submits under TSCA must assert and substantiate a claim for protection from disclosure concurrent with submission of the information in accordance with the requirements of TSCA section 14 and 40 CFR 703, with limited exceptions provided in the statute. TSCA section 14(b) limits confidentiality protections for health and safety studies and information from VerDate Sep<11>2014 17:41 Dec 15, 2023 Jkt 262001 such studies, however, and while EPA considers confidential business information when conducting its review under 40 CFR 702.9(a), the Agency encourages submitters to minimize claims for protection from disclosure wherever possible to maximize transparency in EPA’s screening review. More information on asserting and submitting confidential business information claims under TSCA can be found at 40 CFR 703 and https:// www.epa.gov/tsca-cbi. Authority: 15 U.S.C. 2601 et seq. Dated: December 12, 2023. Michal Freedhoff, Assistant Administrator, Office of Chemical Safety and Pollution Prevention. [FR Doc. 2023–27641 Filed 12–15–23; 8:45 am] BILLING CODE 6560–50–P FEDERAL RESERVE SYSTEM [Docket No. OP–1825] 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 2023 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 2023 aggregate global indicator amounts are effective December 18, 2023. FOR FURTHER INFORMATION CONTACT: Anna Lee Hewko, Associate Director, (202) 530–6260, Brian Chernoff, Manager, (202) 452–2952, Sarah Dunning, Financial Institution Policy Analyst III, (202) 475–6660, or Alexander Jiron, Senior Financial Institution Policy Analyst I, (202) 450– 7350, Division of Supervision and Regulation; or Jay Schwarz, Assistant General Counsel, (202) 452–2970, Mark Buresh, Special Counsel, (202) 452– 5270, Jonah Kind, Senior Counsel, (202) 452–2045, or David Imhoff, Senior Attorney (202) 452–2249, Legal Division. Board of Governors of the Federal Reserve System, 20th and C, NW, Washington, DC 20551. For 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 SUMMARY: PO 00000 Frm 00042 Fmt 4703 Sfmt 4703 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 2023 aggregate global indicator amounts, the Board uses the year-end 2022 euro-denominated indicator See 12 CFR 217.402, 217.404. 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. See 12 CFR 217.405. 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 website, available at https:// www.federalreserve.gov/supervisionreg/basel/ denominators.htm. 1 2 E:\FR\FM\18DEN1.SGM 18DEN1 87427 Federal Register / Vol. 88, No. 241 / Monday, December 18, 2023 / Notices amounts published by the BCBS and multiplies each of the eurodenominated indicator amounts by 1.0666, the euro to U.S. dollar spot exchange rate on December 31, 2022.5 The aggregate global indicator amounts expressed in U.S. dollars for purposes of the 2023 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 2023 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. Ann E. Misback, Secretary of the Board. [FR Doc. 2023–27671 Filed 12–15–23; 8:45 am] BILLING CODE P FEDERAL RESERVE SYSTEM Change in Bank Control Notices; Acquisitions of Shares of a Bank or Bank Holding Company khammond on DSKJM1Z7X2PROD with NOTICES Aggregate global indicator amount (in USD) Category 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 January 2, 2024. A. 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. 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, the 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; as a group acting in concert, to acquire voting shares of Peoples Financial Corporation, and thereby indirectly acquire voting shares of The Peoples Bank, Biloxi, Mississippi, both of Biloxi, Mississippi. Board of Governors of the Federal Reserve System. Michele Taylor Fennell, Deputy Associate Secretary of the Board. [FR Doc. 2023–27666 Filed 12–15–23; 8:45 am] BILLING CODE P Foreign exchange rates provided by the BCBS. Available at https://www.bis.org/bcbs/gsib/ reporting_instructions.htm. 5 VerDate Sep<11>2014 17:41 Dec 15, 2023 Jkt 262001 PO 00000 Frm 00043 Fmt 4703 Sfmt 4703 109,474,896,520,080 10,797,704,338,692 10,984,283,231,717 17,155,484,808,186 3,319,207,880,734,470 207,756,162,356,981 6,968,666,666,539 651,492,378,031,994 3,857,352,737,659 724,453,375,901 26,802,729,249,960 22,471,554,408,190 DEPARTMENT OF DEFENSE GENERAL SERVICES ADMINISTRATION NATIONAL AERONAUTICS AND SPACE ADMINISTRATION [OMB Control No. 9000–0013; Docket No. 2023–0053; Sequence No. 11] Information Collection; Certified Cost or Pricing Data and Data Other Than Certified Cost or Pricing Data Department of Defense (DOD), General Services Administration (GSA), and National Aeronautics and Space Administration (NASA). ACTION: Notice and request for comments. AGENCY: In accordance with the Paperwork Reduction Act of 1995, and the Office of Management and Budget (OMB) regulations, DoD, GSA, and NASA invite the public to comment on an extension concerning certified cost or pricing data and data other than certified cost or pricing data. DoD, GSA, and NASA invite comments on: whether the proposed collection of information is necessary for the proper performance of the functions of Federal Government acquisitions, including whether the information will have practical utility; the accuracy of the estimate of the burden of the proposed information collection; ways to enhance the quality, utility, and clarity of the information to be collected; and ways to minimize the burden of the information collection on respondents, including the use of automated collection techniques or other forms of information technology. OMB has approved this information collection for use through March 31, SUMMARY: E:\FR\FM\18DEN1.SGM 18DEN1

Agencies

[Federal Register Volume 88, Number 241 (Monday, December 18, 2023)]
[Notices]
[Pages 87426-87427]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-27671]


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FEDERAL RESERVE SYSTEM

[Docket No. OP-1825]


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 2023 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 2023 aggregate global indicator amounts are effective 
December 18, 2023.

FOR FURTHER INFORMATION CONTACT: Anna Lee Hewko, Associate Director, 
(202) 530-6260, Brian Chernoff, Manager, (202) 452-2952, Sarah Dunning, 
Financial Institution Policy Analyst III, (202) 475-6660, or Alexander 
Jiron, Senior Financial Institution Policy Analyst I, (202) 450-7350, 
Division of Supervision and Regulation; or Jay Schwarz, Assistant 
General Counsel, (202) 452-2970, Mark Buresh, Special Counsel, (202) 
452-5270, Jonah Kind, Senior Counsel, (202) 452-2045, or David Imhoff, 
Senior Attorney (202) 452-2249, Legal Division. Board of Governors of 
the Federal Reserve System, 20th and C, NW, Washington, DC 20551. For 
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, cross-
jurisdictional activity, substitutability, and complexity--and 
subdivided into twelve systemic indicators.
---------------------------------------------------------------------------

    \1\ See 12 CFR 217.402, 217.404.
---------------------------------------------------------------------------

    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\
---------------------------------------------------------------------------

    \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. See 12 CFR 217.405.
---------------------------------------------------------------------------

    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 
2023 aggregate global indicator amounts, the Board uses the year-end 
2022 euro-denominated indicator

[[Page 87427]]

amounts published by the BCBS and multiplies each of the euro-
denominated indicator amounts by 1.0666, the euro to U.S. dollar spot 
exchange rate on December 31, 2022.\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); see also 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/supervisionreg/basel/denominators.htm.
---------------------------------------------------------------------------

    The aggregate global indicator amounts expressed in U.S. dollars 
for purposes of the 2023 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 2023
----------------------------------------------------------------------------------------------------------------
                                                                                     Aggregate global indicator
                  Category                             Systemic indicator                  amount (in USD)
----------------------------------------------------------------------------------------------------------------
Size........................................  Total exposures.....................           109,474,896,520,080
Interconnectedness..........................  Intra-financial system assets.......            10,797,704,338,692
                                              Intra-financial system liabilities..            10,984,283,231,717
                                              Securities outstanding..............            17,155,484,808,186
Substitutability............................  Payments activity...................         3,319,207,880,734,470
                                              Assets under custody................           207,756,162,356,981
                                              Underwritten transactions in debt                6,968,666,666,539
                                               and equity markets.
Complexity..................................  Notional amount of over-the-counter            651,492,378,031,994
                                               (OTC) derivatives.
                                              Trading and available-for-sale (AFS)             3,857,352,737,659
                                               securities.
                                              Level 3 assets......................               724,453,375,901
Cross-jurisdictional activity...............  Cross-jurisdictional claims.........            26,802,729,249,960
                                              Cross-jurisdictional liabilities....            22,471,554,408,190
----------------------------------------------------------------------------------------------------------------

    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.
---------------------------------------------------------------------------

    \5\ Foreign exchange rates provided by the BCBS. Available at 
https://www.bis.org/bcbs/gsib/reporting_instructions.htm.

    By order of the Board of Governors of the Federal Reserve 
System, acting through the Director of Supervision and Regulation 
under delegated authority.
Ann E. Misback,
Secretary of the Board.
[FR Doc. 2023-27671 Filed 12-15-23; 8:45 am]
BILLING CODE P
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