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