[Federal Register Volume 81, Number 159 (Wednesday, August 17, 2016)]
[Notices]
[Pages 54804-54805]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-19567]


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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: Notice is hereby given of the final approval of a proposed 
information collection by the Board of Governors of the Federal Reserve 
System (Board) under OMB delegated authority, as per 5 CFR 1320.16 (OMB 
Regulations on Controlling Paperwork Burdens on the Public). Board-
approved collections of information are incorporated into the official 
OMB inventory of currently approved collections of information. Copies 
of the Paperwork Reduction Act Submission, supporting statements and 
approved collection of information instrument(s) are placed into OMB's 
public docket files. The Federal Reserve may not conduct or sponsor, 
and the respondent is not required to respond to, an information 
collection that has been extended, revised, or implemented on or after 
October 1, 1995, unless it displays a currently valid OMB control 
number.

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 reports:
    1. Report title: Savings and Loan Holding Company Registration 
Statement.
    Agency form number: FR LL-10(b).
    OMB control number: 7100-0337.
    Frequency: As needed.
    Respondents: Newly Formed Savings and Loan Holding Companies.
    Estimated number of respondents: 3.
    Estimated average hours per response: 8 hours.
    Estimated annual burden hours: 24.
    General Description of Report: The FR LL-10(b) includes information 
on the financial condition, ownership, operations, management, and 
intercompany relationships of the SLHC and its subsidiaries.
    Federal Reserve staff review the FR LL-10(b) to assess the adequacy 
of responses to items, disclosure of pertinent facts, and completeness 
in all material respects. This includes information concerning the date 
of consummation of transactions and the number of shares acquired.
    Legal authorization and confidentiality: The Boards' Legal Division 
has determined that FR LL-10(b) is authorized by section 10(b)(1) of 
the HOLA and Regulation LL, 12 CFR 238.4(c). Section 10(b) of the Home 
Owners' Loan Act, as amended (HOLA), 12 U.S.C. 1467a(b)(1), provides 
that each SLHC is required to register with the Federal Reserve within 
90 days of becoming an SLHC on forms prescribed

[[Page 54805]]

by the Board that contain such information as the Board may deem 
necessary or appropriate. The Board is therefore authorized to collect 
information on this form pursuant to section 10(b) of HOLA. The 
obligation to respond is mandatory, as described in the previous 
paragraph. Information contained in the FR LL-10(b) is not considered 
confidential. If an SLHC wishes to claim confidential treatment for any 
information submitted on or with the form, it would need to describe 
the circumstances and provide a justification for the withholding of 
the information consistent with the Freedom of Information Act, 5 
U.S.C. 552.
    Current Actions: On June 1, 2016, the Federal Reserve published a 
notice in the Federal Register (81 FR 35015) requesting public comment 
for 60 days on the extension of the FR LL-10(b). The comment period for 
this notice expired on August 1, 2016. The Federal Reserve did not 
receive any comments. The revisions will be implemented as proposed.
    2. Report title: Notice of Proposed Declaration of Dividend.
    Agency form number: FR 1583.
    OMB control number: 7100-0339.
    Frequency: As needed.
    Respondents: Savings and Loan Holding Companies.
    Estimated number of respondents: 133.
    Estimated average hours per response: 16.5 minutes.
    Estimated annual burden hours: 73.
    General Description of Report: Savings association subsidiaries of 
SLHCs provide prior notice of a dividend by filing form FR 1583 that 
requires information on (1) the date of the filing, (2) the nature and 
amount of the proposed dividend declaration, and (3) the names and 
signatures of the executive officer and secretary of the savings 
association that have provided the notice. The savings association 
subsidiary must file this prior notice at least 30 days before the 
proposed declaration of a dividend by its board of directors. This 
notice may include a schedule proposing dividends of over a specified 
period, up to 12 months. The statute also provides that the 30-day 
period commences on the date of receipt of the complete record of the 
notice by the Federal Reserve. The Federal Reserve Board may request 
additional information or may impose conditions for the dividend and 
may determine that such dividend does not comply with the requirements 
of 12 CFR part 238, subpart K.
    Legal authorization and confidentiality: The Board's Legal Division 
determined that FR 1583 is authorized by section 10(f) of the Home 
Owners' Loan Act (HOLA) and section 238.103 of Regulation LL (12 CFR 
238.103). Section 10(f) of the Home Owners' Loan Act, as amended 
(HOLA), 12 U.S.C. 1467a(f), provides that every subsidiary savings 
association of an SLHC shall give the Board at least 30 days' advance 
notice of the proposed declaration by its directors of any stock 
dividend. The obligation to respond is mandatory, as described in the 
previous paragraph, and the Federal Reserve is authorized to collection 
this information by section 10(f) of HOLA. The FR 1583 collects 
information concerning the amount of capital that an SLHC's subsidiary 
savings association intends to distribute. Specifically, the form asks 
for the name and address of the savings association, the date of the 
filing, the nature and amount of the proposed dividend declaration, and 
the names and signatures of the executive officer and secretary of the 
savings association. The information collected on the FR 1583 is 
generally not considered confidential. It is possible that a savings 
association or SHLC could seek confidential treatment under FOIA 
exemption 4 for the nature and amount of the proposed dividend 
declaration, in which case the institution would need to submit a 
request stating that disclosure of the specific information would 
likely result in substantial harm to its competitive position and 
demonstrating the specific nature of the harm that would result from 
public release of the information. FOIA exemption 4 covers commercial 
or financial information obtained from a person that is privileged or 
confidential. The determination of whether confidential treatment 
should be granted will have be made on a case-by-case basis.
    Current Actions: On June 1, 2016, the Federal Reserve published a 
notice in the Federal Register (81 FR 35015) requesting public comment 
for 60 days on the extension, with revision, of the FR 1583. The 
comment period for this notice expired on August 1, 2016. The Federal 
Reserve did not receive any comments. The revisions will be implemented 
as proposed.

    Board of Governors of the Federal Reserve System, August 11, 
2016.
Robert deV. Frierson,
Secretary of the Board.
[FR Doc. 2016-19567 Filed 8-16-16; 8:45 am]
 BILLING CODE 6210-01-P