[Federal Register Volume 82, Number 237 (Tuesday, December 12, 2017)]
[Notices]
[Pages 58396-58397]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-26710]


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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 
Quarterly Savings and Loan Holding Company Report.

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: Quarterly Savings and Loan Holding Company Report.
    Agency form number: FR 2320.
    OMB control number: 7100-0345.
    Frequency: Quarterly.
    Respondents: Savings and loan holding companies (SLHCs) that are 
currently exempt from filing other Federal Reserve regulatory reports.
    Estimated number of respondents: 15.
    Estimated average hours per response: 2.5 hours.
    Estimated annual burden hours: 150 hours.
    General Description of Report: The FR 2320 collects select parent 
only and consolidated balance sheet and income statement financial data 
and organizational structure data from SLHCs that are currently exempt 
from filing other Federal Reserve regulatory reports (exempt SLHCs).\1\ 
The FR 2320 is used by the Board to analyze the overall financial 
condition of exempt SLHCs to ensure safe and sound operations. These 
data assist the Board in the evaluation of a diversified holding 
company and in determining whether an institution is in compliance with 
applicable laws and regulations.
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    \1\ To be exempt, an SLHC must meet one of the following 
criteria: (1) The SLHC was formed under section 10(c)(9)(C) of the 
Home Owners' Loan Act (HOLA) and the consolidated assets of its 
saving association subsidiaries make up less than 5 percent of the 
total consolidated assets of the SLHC; or (2) its top-tier holding 
company is an insurance company that only prepares financial 
statements using statutory accounting principles.
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    Legal authorization and confidentiality: The Board has determined 
that the Home Owners' Loan Act authorizes the Board to require SLHCs to 
file ``such reports as may be required by the Board'' and instructs 
that such reports ``shall contain such information concerning the 
operations of such savings and loan holding

[[Page 58397]]

company and its subsidiaries as the Board may require.'' (12 U.S.C. 
1467a(b)(2)). The obligation to respond is mandatory for exempt SLHCs. 
In some cases, lower-tier SLHCs may voluntarily file the FR 2320. In 
other cases lower-tier SLHCs may be required to file (in addition to 
the top-tier SLHC) for safety and soundness purposes at the discretion 
of the appropriate Federal Reserve Bank.
    The Board also has determined that data items C572, C573, and C574 
(line items 24, 25, and 26) may be protected from disclosure under 
exemption 4 of the Freedom of Information Act (FOIA). Commercial or 
financial information may be protected from disclosure under exemption 
4 if disclosure of such information is likely to cause substantial 
competitive harm to the provider of the information. (5 U.S.C. 
552(b)(4)). The data items listed above pertain to new or changed 
pledges, or 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 defaults 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.
    With regard to the remaining data items on the FR 2320, the Board 
has determined that institutions may request confidential treatment for 
any FR 2320 data item or for all FR 2320 data items, and that 
confidential treatment will be reviewed on a case-by-case basis.
    Current actions: On August 23, 2017, the Federal Reserve published 
a notice in the Federal Register (82 FR 40000) requesting public 
comment for 60 days on the extension, without revision, of the 
Quarterly Savings and Loan Holding Company Report. The comment period 
for this notice expired on October 23, 2017. The Board did not receive 
any comments.

    Board of Governors of the Federal Reserve System, December 7, 
2017.
Ann E. Misback,
Secretary of the Board.
[FR Doc. 2017-26710 Filed 12-11-17; 8:45 am]
 BILLING CODE 6210-01-P