Formations of, Acquisitions by, and Mergers of Bank Holding Companies, 100496 [2024-29278]

Download as PDF 100496 Federal Register / Vol. 89, No. 239 / Thursday, December 12, 2024 / Notices traded at rates persistently below the interest rate on excess reserves.5 EBAs permit eligible institutions to earn interest on their excess balances without disrupting established correspondentrespondent relationships. An EBA is a limited-purpose account at a Federal Reserve Bank managed by an agent and established for maintaining the excess balances of one or more institutions (participants) that are eligible to earn interest on balances held at a Reserve Bank.6 The agent does not own the EBA or the balances therein and thus the balances held in the EBA are not included in the calculation of the agent’s regulatory leverage ratio. III. Current Scope of the Guidelines Currently, the Guidelines do not expressly state that EBA arrangements are in the scope of the Guidelines. The Board believes it is appropriate to amend the Guidelines to clarify that they apply to requests to be an agent for, or a participant in, an EBA. Expressly including EBAs in the Guidelines will clarify that the same standard of review will be applied to any institution requesting access to accounts and services. While EBAs are not used to access Reserve Bank financial 1254ervicees, they are, in fact, limitedpurpose Reserve Bank accounts. This clarification, therefore, would prevent depository institutions that do not qualify for access to Federal Reserve accounts and services under the Guidelines from accessing the Federal Reserve’s balance sheet through EBAs. IV. Clarification to Scope of Guidelines ddrumheller on DSK120RN23PROD with NOTICES1 For the reasons set forth in this document, the Board is amending and restating the text in footnote seven to the Guidelines to read as follows: Unless otherwise expressly excluded under the previous footnote, these principles apply to account requests from all institutions, including member banks, entities that meet the definition of a depository institution under section 19(b) (12 U.S.C. 461(b)(1)(A)), Edge and Agreement Corporations (12 U.S.C. 601– 604a, 611–631), and U.S. branches and agencies of foreign banks (12 U.S.C. 5 Final Rule, Regulation D, 74 FR 25620 (May 29, 2009); Press Release, ‘‘Board announces approval of final amendments to Regulation D pertaining to transfers from savings deposits and the establishment of excess balance accounts at Reserve Banks’’ (May 20, 2009), https://www.federal reserve.gov/newsevents/pressreleases/ monetary20090520b.htm. 6 See 12 CFR 204.2(aa) (defining ‘‘excess balance account’’); 12 CFR 204.10(d)(4) (establishing interest payable on excess balance accounts). An EBA agent and participant may also be in a separate correspondent-respondent relationship, but not necessarily. VerDate Sep<11>2014 18:28 Dec 11, 2024 Jkt 265001 347d), and to requests to be an agent or participant in an excess balance account (12 CFR 204.10(d)). By order of the Board of Governors of the Federal Reserve System. Ann E. Misback, Secretary of the Board. [FR Doc. 2024–29250 Filed 12–11–24; 8:45 am] BILLING CODE P FEDERAL RESERVE SYSTEM 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 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 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 January 13, 2025. A. Federal Reserve Bank of Boston (Prabal Chakrabarti, Senior Vice President) 600 Atlantic Avenue, Boston, PO 00000 Frm 00034 Fmt 4703 Sfmt 4703 Massachusetts 02210–2204. Comments can also be sent electronically to BOS.SRC.Applications.Comments@ bos.frb.org: 1. Liberty Financial Corporation, Middletown, Connecticut; to become a bank holding company by acquiring Liberty Bank, also of Middletown, Connecticut. Board of Governors of the Federal Reserve System. Michele Taylor Fennell, Associate Secretary of the Board. [FR Doc. 2024–29278 Filed 12–11–24; 8:45 am] BILLING CODE 6210–01–P GENERAL SERVICES ADMINISTRATION [OMB Control No. 3090–0324; Docket No. 2024–0001; Sequence No.14] Submission for OMB Review; General Services Administration Acquisition Regulation; Foreign Ownership and Financing Representation for HighSecurity Leased Space Office of Acquisition Policy, General Services Administration (GSA). ACTION: Notice; request for comments. AGENCY: In accordance with the Paperwork Reduction Act of 1995, and the Office of Management and Budget (OMB) regulations, GSA invites the public to comment on an extension concerning disclosure of foreign ownership information under highsecurity lease space acquisitions. DATES: Submit comments on or before January 13, 2025. ADDRESSES: Written comments and recommendations for this 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 Review—Open for Public Comments’’ or by using the search function. FOR FURTHER INFORMATION CONTACT: Ms. Amy Lara, 816–589–3783, General Services Acquisition Policy Division, by email at gsarpolicy@gsa.gov. SUPPLEMENTARY INFORMATION: SUMMARY: A. Purpose The purpose of this information collection supports the implementation of the Secure Federal LEASEs Act (Pub. L. 116–276) to reduce security risks in high-security leased space. Section 3 of the bill requires agencies, before entering into a lease agreement for highsecurity leased space, to require the contractor to identify the immediate or E:\FR\FM\12DEN1.SGM 12DEN1

Agencies

[Federal Register Volume 89, Number 239 (Thursday, December 12, 2024)]
[Notices]
[Page 100496]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-29278]


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FEDERAL RESERVE SYSTEM


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 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 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 January 13, 2025.
    A. Federal Reserve Bank of Boston (Prabal Chakrabarti, Senior Vice 
President) 600 Atlantic Avenue, Boston, Massachusetts 02210-2204. 
Comments can also be sent electronically to 
[email protected]:
    1. Liberty Financial Corporation, Middletown, Connecticut; to 
become a bank holding company by acquiring Liberty Bank, also of 
Middletown, Connecticut.

    Board of Governors of the Federal Reserve System.
Michele Taylor Fennell,
Associate Secretary of the Board.
[FR Doc. 2024-29278 Filed 12-11-24; 8:45 am]
BILLING CODE 6210-01-P


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