[Federal Register Volume 82, Number 226 (Monday, November 27, 2017)]
[Notices]
[Pages 56021-56022]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-25498]


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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) 
is adopting a proposal to extend for three years, without revision, the 
Application for Exemption from Prohibited Service at Savings and Loan 
Holding Companies (FR LL-12, OMB No. 7100-0338).

[[Page 56022]]


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 
or by fax to (202) 395-6974.

SUPPLEMENTARY INFORMATION: 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. 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.

Final Approval Under OMB Delegated Authority of the Extension for Three 
Years, Without Revision, of the Following Report

    Report title: Application for Exemption from Prohibited Service at 
Savings and Loan Holding Companies.
    Agency form number: FR LL-12.
    OMB control number: 7100-0338.
    Frequency: On occasion.
    Respondents: Individuals and savings and loan holding companies.
    Estimated number of respondents: 15.
    Estimated average hours per response: 16.
    Estimated annual burden hours: 240.
    General description of report: The Federal Deposit Insurance (FDI) 
Act and Regulation LL (12 CFR part 238) prohibit individuals who have 
been convicted of certain criminal offenses or who have agreed to enter 
into a pretrial diversion or similar program in connection with a 
prosecution for such criminal offenses from participating in the 
affairs of a savings and loan holding company (SLHC) or any of its 
subsidiaries without the written consent of the Board. In order for 
such a person to participate in the conduct of the affairs of any SLHC, 
the SLHC or the individual must file an application seeking to obtain 
an exemption from the Board. The Board will use any information 
provided by the applicant when considering an exemption request 
concerning a prohibited person. Such considerations will include, but 
are not limited to, whether the prohibited person would participate in 
the major policymaking functions of the SLHC or would threaten the 
safety and soundness of any subsidiary insured depository institution 
of the SLHC or the public confidence in the insured depository 
institution.
    Legal authorization and confidentiality: The Board has determined 
that this information collection is authorized by section 19(e)(2) of 
the FDI Act, which states that the ``Board . . . may provide exemptions 
[from the prohibition] by regulation or order . . . if the exemption is 
consistent with the purposes of this subsection'' (12 U.S.C. 
1829(e)(2)). The Board exercises general supervision over SLHCs, which 
includes examination authority and the imposition of reporting and 
recordkeeping requirements (12 U.S.C. 1467a(b)(2)). This information 
collection is required in order for prohibited persons to obtain the 
benefit of becoming, or continuing service as, an institution-
affiliated party of an SLHC, and for an SLHC to permit that prohibited 
person to engage in any conduct or continue any relationship prohibited 
by section 19(e) of the FDI Act.
    Some or all of the information submitted may be withheld pursuant 
to sections (b)(4), (b)(6), and (b)(8) of the Freedom of Information 
Act (5 U.S.C. 552(b)(4), (b)(6), (b)(8)). The applicability of these 
exemptions would need to be determined on a case-by-case basis.
    Current actions: On July 24, 2017, the Board published a notice in 
the Federal Register (82 FR 34311) requesting public comment for 60 
days on the extension, without revision, of the Application for 
Exemption from Prohibited Service at Savings and Loan Holding 
Companies. The comment period for this notice expired on September 22, 
2017. The Board did not receive any comments. The extension will be 
implemented as proposed.

    Board of Governors of the Federal Reserve System, November 21, 
2017.
Ann E. Misback,
Secretary of the Board.
[FR Doc. 2017-25498 Filed 11-24-17; 8:45 am]
 BILLING CODE 6210-01-P