Change in Bank Control Notices; Acquisitions of Shares of a Bank or Bank Holding Company, 95788-95789 [2024-28325]

Download as PDF 95788 Federal Register / Vol. 89, No. 232 / Tuesday, December 3, 2024 / Notices capital instruments.11 This requirement effectively applies only to a BHC or an SLHC and is, therefore, not included in the OCC’s and FDIC’s capital rule. All three agencies require institutions to obtain prior approval before redeeming regulatory capital instruments in other regulations.12 The additional provision in the Board’s capital rule, therefore, only has a practical impact on BHCs and SLHCs and is not a difference as applied to institutions. lotter on DSK11XQN23PROD with NOTICES1 Capital Deductions There is a technical difference between the FDIC’s capital rule and the OCC’s and Board’s capital rule with regard to an explicit requirement for deduction of examiner-identified losses. The agencies require their examiners to determine whether their respective supervised institutions have appropriately identified losses. The FDIC’s capital rule, however, explicitly requires FDIC-supervised institutions to deduct identified losses from common equity tier 1 capital elements, to the extent that the institutions’ common equity tier 1 capital would have been reduced if the appropriate accounting entries had been recorded.13 Generally, identified losses are those items that an examiner determines to be chargeable against income, capital, or general valuation allowances. For example, identified losses may include, among other items, assets classified as loss, off-balance-sheet items classified as loss, any expenses that are necessary for the institution to record in order to replenish its general 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) 11 Board-regulated institution refers to an SMB, a BHC, or an SLHC. See 12. CFR 217.2; 12 CFR 217.20(f); see also 12 CFR 217.20(b)(1)(iii). 12 See 12 CFR 5.46, 5.47, 5.55, and 5.56 (OCC); 12 CFR 208.5 (Board); 12 CFR 303.241 (FDIC). 13 12 CFR 324.22(a)(9). VerDate Sep<11>2014 19:41 Dec 02, 2024 Jkt 265001 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.14 When subsidiaries of a savings association are engaged in activities that are not permissible for national banks,15 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.16 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. Tangible Capital Requirement Federal 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 of total assets.17 The capital rule of the OCC and the FDIC includes a requirement that savings associations maintain a tangible capital ratio of 1.5 percent.18 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.19 Generally speaking, the appropriate 14 12 U.S.C. 1464(t)(5). 15 Subsidiaries engaged in activities not permissible for national banks are considered nonincludable subsidiaries. 16 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 12 U.S.C. 1464(t)(1)(A)(ii) and (t)(2)(B). 18 12 CFR 3.10(a)(6) (OCC); 12 CFR 324.10(a)(1)(vi) (FDIC). The Board’s regulatory capital framework does not apply to savings associations and, therefore, does not include this requirement. 19 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). PO 00000 Frm 00057 Fmt 4703 Sfmt 4703 federal banking agency must appoint a receiver within 90 days after an institution becomes critically undercapitalized.20 Enhanced Supplementary Leverage Ratio The agencies adopted enhanced supplementary leverage ratio standards that took effect beginning on January 1, 2018.21 These standards require certain BHCs 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 BHCs to meet a 6 percent supplementary leverage ratio to be considered ‘‘well capitalized’’ under the PCA framework.22 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 BHCs being identified as global systemically important BHCs as defined in 12 CFR 217.2.23 The OCC applies enhanced supplementary leverage ratio standards to the institution subsidiaries under their supervisory jurisdiction of a toptier BHC that has more than $700 billion in total assets or more than $10 trillion in assets under custody.24 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 25, 2024. James P. Sheesley, Assistant Executive Secretary. [FR Doc. 2024–28227 Filed 12–2–24; 8:45 am] BILLING CODE 6210–01–P; 6714–01–P; 4810–33–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 20 12 U.S.C. 1831o(h)(3)(A). 79 FR 24,528 (May 1, 2014). 22 12 CFR 6.4(b)(1)(i)(D)(2) (OCC); 12 CFR 208.43(b)(1)(i)(D)(2) (Board); 12 CFR 324.403(b)(1)(ii) (FDIC). 23 12 CFR 208.43(b)(1)(i)(D)(2) (Board); 12 CFR 324.403(b)(1)(ii) (FDIC). 24 12 CFR 6.4(b)(1)(i)(D)(2) (OCC). 21 See E:\FR\FM\03DEN1.SGM 03DEN1 lotter on DSK11XQN23PROD with NOTICES1 Federal Register / Vol. 89, No. 232 / Tuesday, December 3, 2024 / Notices 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 received are subject to public disclosure. In general, comments received will be made available without change and will not be modified to remove personal or business information including confidential, contact, or other identifying information. Comments should not include any information such as confidential information that would not be appropriate for public disclosure. 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 18, 2024. A. Federal Reserve Bank of Minneapolis (Mark Rauzi, Vice President), 90 Hennepin Avenue, Minneapolis, Minnesota 55480–0291. Comments can also be sent electronically to MA@mpls.frb.org: 1. Lindsey M. Anderson, individually and as trustee of the Rick H. GerberLindsey Irrevocable Trust, both of Chippewa Falls, Wisconsin; Brittney L. Gerber, individually and as trustee of the Rick H. Gerber-Brittany Irrevocable Trust, both of Altoona, Wisconsin; and Ryan M. Gerber, individually and as trustee of the Rick H. Gerber-Ryan Irrevocable Trust, both of Hayward, Wisconsin; to join the Gerber Family Control Group, a group acting in concert, to acquire voting shares of Chippewa Valley Agency, Ltd., and thereby indirectly acquire voting shares of Chippewa Valley Bank, both of Hayward, Wisconsin. VerDate Sep<11>2014 17:09 Dec 02, 2024 Jkt 265001 Board of Governors of the Federal Reserve System. Michele Taylor Fennell, Associate Secretary of the Board. [FR Doc. 2024–28325 Filed 12–2–24; 8:45 am] BILLING CODE 6210–01–P DEPARTMENT OF HEALTH AND HUMAN SERVICES Centers for Disease Control and Prevention [30Day–25–1061] Agency Forms Undergoing Paperwork Reduction Act Review In accordance with the Paperwork Reduction Act of 1995, the Centers for Disease Control and Prevention (CDC) has submitted the information collection request titled Behavioral Risk Factor Surveillance System (BRFSS), to the Office of Management and Budget (OMB) for review and approval. CDC previously published a Proposed Data Collection Submitted for Public Comment and Recommendations notice on August 9, 2024, to obtain comments from the public and affected agencies. There were four public comments with two being substantive, related to the previous notice. This notice serves to allow an additional 30 days for public and affected agency comments. CDC will accept all comments for this proposed information collection project. The Office of Management and Budget is particularly interested in comments that: (a) Evaluate whether the proposed collection of information is necessary for the proper performance of the functions of the agency, including whether the information will have practical utility; (b) Evaluate the accuracy of the agencies estimate of the burden of the proposed collection of information, including the validity of the methodology and assumptions used; (c) Enhance the quality, utility, and clarity of the information to be collected; (d) Minimize the burden of the collection of information on those who are to respond, including, through the use of appropriate automated, electronic, mechanical, or other technological collection techniques or other forms of information technology, e.g., permitting electronic submission of responses; and (e) Assess information collection costs. To request additional information on the proposed project or to obtain a copy PO 00000 Frm 00058 Fmt 4703 Sfmt 4703 95789 of the information collection plan and instruments, call (404) 639–7570. Comments and recommendations for the proposed information collection should be sent within 30 days of publication of this notice to www.reginfo.gov/public/ do/PRAMain. Find this particular information collection by selecting ‘‘Currently under 30-day Review—Open for Public Comments’’ or by using the search function. Direct written comments and/or suggestions regarding the items contained in this notice to the Attention: CDC Desk Officer, Office of Management and Budget, 725 17th Street NW, Washington, DC 20503 or by fax to (202) 395–5806. Provide written comments within 30 days of notice publication. Proposed Project Behavioral Risk Factor Surveillance System (BRFSS) (OMB Control No. 0920–1061, Exp. 12/31/2024)— Revision—National Center for Chronic Disease Prevention and Health Promotion (NCCDPHP), Centers for Disease Control and Prevention (CDC). Background and Brief Description CDC is requesting OMB approval to revise information collection for the Behavioral Risk Factor Surveillance System (BRFSS) for the period of 2025– 2027. The BRFSS is a nationwide system of cross-sectional surveys using random digit dialed (RDD) samples administered by health departments in states, territories, and the District of Columbia (collectively referred to here as states) in collaboration with the CDC. Traditionally subject recruitment and interview have been conducted by telephone. In 2025–2027, the BRFSS will introduce the option to allow participants to voluntarily complete online surveys, after telephone recruitment. The BRFSS produces statelevel information primarily on health risk behaviors, health conditions, and preventive health practices that are associated with chronic diseases, infectious diseases, and injury. Designed to meet the data needs of individual states and territories, the CDC sponsors the BRFSS information collection project under a cooperative agreement with states and territories. Under this partnership, BRFSS state coordinators determine questionnaire content with technical and methodological assistance provided by CDC. For most states and territories, the BRFSS provides the only sources of data amenable to state and local level health and health risk indicator uses. Over time, it has also developed into an important data collection system that federal agencies rely on for state and E:\FR\FM\03DEN1.SGM 03DEN1

Agencies

FEDERAL RESERVE SYSTEM

[Federal Register Volume 89, Number 232 (Tuesday, December 3, 2024)]
[Notices]
[Pages 95788-95789]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-28325]


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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

[[Page 95789]]

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 received are subject to public disclosure. In general, 
comments received will be made available without change and will not be 
modified to remove personal or business information including 
confidential, contact, or other identifying information. Comments 
should not include any information such as confidential information 
that would not be appropriate for public disclosure.
    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 18, 2024.
    A. Federal Reserve Bank of Minneapolis (Mark Rauzi, Vice 
President), 90 Hennepin Avenue, Minneapolis, Minnesota 55480-0291. 
Comments can also be sent electronically to [email protected]:
    1. Lindsey M. Anderson, individually and as trustee of the Rick H. 
Gerber-Lindsey Irrevocable Trust, both of Chippewa Falls, Wisconsin; 
Brittney L. Gerber, individually and as trustee of the Rick H. Gerber-
Brittany Irrevocable Trust, both of Altoona, Wisconsin; and Ryan M. 
Gerber, individually and as trustee of the Rick H. Gerber-Ryan 
Irrevocable Trust, both of Hayward, Wisconsin; to join the Gerber 
Family Control Group, a group acting in concert, to acquire voting 
shares of Chippewa Valley Agency, Ltd., and thereby indirectly acquire 
voting shares of Chippewa Valley Bank, both of Hayward, Wisconsin.

    Board of Governors of the Federal Reserve System.
Michele Taylor Fennell,
Associate Secretary of the Board.
[FR Doc. 2024-28325 Filed 12-2-24; 8:45 am]
BILLING CODE 6210-01-P

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