[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]


=======================================================================
-----------------------------------------------------------------------

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.
---------------------------------------------------------------------------

    \1\ See 81 FR 47801.
---------------------------------------------------------------------------

    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