[Federal Register Volume 81, Number 235 (Wednesday, December 7, 2016)]
[Notices]
[Pages 88238-88239]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-29330]
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FEDERAL RESERVE SYSTEM
Agency Information Collection Activities: Announcement of Board
Approval Under Delegated Authority and Submission to OMB
AGENCY: Board of Governors of the Federal Reserve System.
SUMMARY: The Board of Governors of the Federal Reserve System (Board or
Federal Reserve) is adopting a proposal to revise, with extension, the
mandatory Savings Association Holding Company Report. The revision to
this mandatory information is effective December 31, 2016.
On June 15, 1984, the Office of Management and Budget (OMB)
delegated to the Board authority under the Paperwork Reduction Act
(PRA) to approve of and assign OMB control numbers to collection of
information requests and requirements conducted or sponsored by the
Board. In exercising this delegated authority, the Board is directed to
take every reasonable step to solicit comment. In determining whether
to approve a collection of information, the Board will consider all
comments received from the public and other agencies.
FOR FURTHER INFORMATION CONTACT:
Federal Reserve Board Clearance Officer--Nuha Elmaghrabi--Office of the
Chief Data Officer, Board of Governors of the Federal Reserve System,
Washington, DC 20551 (202) 452-3829. Telecommunications Device for the
Deaf (TDD) users may contact (202) 263-4869, Board of Governors of the
Federal Reserve System, Washington, DC 20551.
OMB Desk Officer--Shagufta Ahmed--Office of Information and Regulatory
Affairs, Office of Management and Budget, New Executive Office
Building, Room 10235, 725 17th Street NW.,Washington, DC 20503.
Final approval under OMB delegated authority of the extension for
three years, with revision, of the following report:
Report title: Savings Association Holding Company Report.
OMB control number: 7100-0334.
Agency form number: FR H-(b)11.
Frequency: Quarterly.
Reporters: Savings and Loan Holding Companies.
Effective Date: December 31, 2016.
Estimated number of respondents: 15.
Estimated average hours per response: 2 hours.
Estimated annual burden hours: 120 hours.
General Description of Report: The FR H-(b)11 is authorized by
Section 10 of the Home Owners' Loan Act, which requires savings and
loan holding companies (SLHCs) to file ``such reports as may be
required by the Board'' and provides that such reports ``shall contain
such information concerning the operations of such SLHC and its
subsidiaries as the Board may require'' (12 U.S.C. 1467a(b)(2)(A)). The
information collection is available to the public upon request through
the appropriate Federal Reserve Bank. The Federal Reserve Board uses
the FR H-(b)11 data to analyze the overall financial condition of SLHCs
to ensure safe and sound operations.
Current actions: On July 22, 2016, the Federal Reserve published an
initial notice in the Federal Register \1\ requesting public comment
for 60 days on the extension, with revision, of the FR H-(b)11. The
Board proposed to eliminate the requirement that a publicly-traded SLHC
submit a copy of its filings with the SEC. The comment period for this
notice expired on September 20, 2016. The Board did not receive any
comments. The revision will be implemented as proposed.
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\1\ See 81 FR 47801.
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Legal authorization and confidentiality: The FR H-(b)11 is
mandatory and its collection is authorized by Section 10 of the Home
Owners' Loan Act, which requires SLHCs to file ``such reports as may be
required by the Board'' and provides that such reports ``shall contain
such information concerning the operations of such SLHC and its
subsidiaries as the Board may require'' (12 U.S.C. 1467a(b)(2)(A)).
The FR H-(b)11 covers 6 different items. Item 1 consists of SEC
filings made by the SLHC that are not publicly traded companies and
item 2 consists of reports provided by nationally recognized
statistical rating organizations and securities analysts on any company
in the SLHC's consolidated organization. The Board's Legal Division has
determined that neither of these items should raise any issue of
confidentiality.
Item 3 consists of supplemental information for any questions on
the FR 2320 to which the SLHC answered ``yes.'' The Board's Legal
Division has determined that supplemental information in response to a
``yes'' answer for the FR 2320's questions 24, 25, and 26 may be
protected from disclosure under exemption 4 of the Freedom of
Information Act (FOIA), which covers ``trade secrets and commercial or
financial information obtained from a person [that is] privileged or
confidential'' (5 U.S.C. 522(b)(4)). These questions concern any
[[Page 88239]]
new or changed pledges of capital stock of any subsidiary savings
association that secures short-term or long-term debt or other
borrowings of the SLHC; changes to any class of securities of the SLHC
or any of its subsidiaries that would negatively impact investors; and
any default of the SLHC or any of its subsidiaries during the quarter.
Disclosure of this type of information is likely to cause substantial
competitive harm to the SLHC providing the information and thus this
information may be protected from disclosure under FOIA exemption 4 (5
U.S.C. 522(b)(4)).
With regard to the supplemental information for other FR 2320
questions that would be provided in item 3 of the FR H-(b)11, as well
as item 4 (Other Materially Important Events), item 5 (Financial
Statements) and item 6 (Exhibits--essentially copies not previously
filed of its charter or bylaws), the respondent may request
confidential treatment of such information under one or more of the
exemptions in the FOIA. The most likely case for confidential treatment
will be exemption 4 (5 U.S.C. 522(b)(4)). However, all such requests
for confidential treatment would need to be reviewed on a case-by-case
basis and in response to a specific request for disclosure.
Board of Governors of the Federal Reserve System, December 2,
2016.
Robert deV. Frierson,
Secretary of the Board.
[FR Doc. 2016-29330 Filed 12-6-16; 8:45 am]
BILLING CODE 6210-01-P