[Federal Register Volume 84, Number 175 (Tuesday, September 10, 2019)]
[Notices]
[Pages 47514-47516]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-19445]


-----------------------------------------------------------------------

FEDERAL RESERVE SYSTEM


Proposed Agency Information Collection Activities; Comment 
Request

AGENCY: Board of Governors of the Federal Reserve System.

[[Page 47515]]


ACTION: Notice, request for comment.

-----------------------------------------------------------------------

SUMMARY: The Board of Governors of the Federal Reserve System (Board) 
invites comment on a proposal to extend for three years, without 
revision, the Savings Association Holding Company Report (FR LL-
(b)11;\1\ OMB No. 7100-0334).
---------------------------------------------------------------------------

    \1\ The internal Agency Tracking Number previously assigned by 
the Board to this information collection was ``FR H-(b)11.'' The 
Board is changing the internal Agency Tracking Number to ``FR LL-
(b)11'' for the purpose of consistency.

---------------------------------------------------------------------------
DATES: Comments must be submitted on or before November 12, 2019.

ADDRESSES: You may submit comments, identified by FR LL-(b)11, by any 
of the following methods:
     Agency Website: https://www.federalreserve.gov. Follow the 
instructions for submitting comments at https://www.federalreserve.gov/apps/foia/proposedregs.aspx.
     Email: [email protected]. Include OMB 
number in the subject line of the message.
     Fax: (202) 452-3819 or (202) 452-3102.
     Mail: Ann E. Misback, Secretary, Board of Governors of the 
Federal Reserve System, 20th Street and Constitution Avenue NW, 
Washington, DC 20551.
    All public comments are available on the Board's website at https://www.federalreserve.gov/apps/foia/proposedregs.aspx as submitted, 
unless modified for technical reasons or to remove personally 
identifiable information at the commenter's request. Accordingly, 
comments will not be edited to remove any identifying or contact 
information. Public comments may also be viewed electronically or in 
paper form in Room 146, 1709 New York Avenue NW, Washington, DC 20006, 
between 9:00 a.m. and 5:00 p.m. on weekdays. For security reasons, the 
Board requires that visitors make an appointment to inspect comments. 
You may do so by calling (202) 452-3684. Upon arrival, visitors will be 
required to present valid government-issued photo identification and to 
submit to security screening in order to inspect and photocopy 
comments.
    Additionally, commenters may send a copy of their comments to the 
Office of Management and Budget (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.

FOR FURTHER INFORMATION CONTACT: A copy of the Paperwork Reduction Act 
(PRA) OMB submission, including the proposed reporting form and 
instructions, supporting statement, and other documentation will be 
placed into OMB's public docket files, if approved. These documents 
will also be made available on the Board's public website at https://www.federalreserve.gov/apps/reportforms/review.aspx or may be requested 
from the agency clearance officer, whose name appears below.
    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.

SUPPLEMENTARY INFORMATION:  On June 15, 1984, OMB delegated to the 
Board authority under the PRA to approve 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.

Request for Comment on Information Collection Proposal

    The Board invites public comment on the following information 
collection, which is being reviewed under authority delegated by the 
OMB under the PRA. Comments are invited on the following:
    a. Whether the proposed collection of information is necessary for 
the proper performance of the Board's functions, including whether the 
information has practical utility;
    b. The accuracy of the Board's estimate of the burden of the 
proposed information collection, including the validity of the 
methodology and assumptions used;
    c. Ways to enhance the quality, utility, and clarity of the 
information to be collected;
    d. Ways to minimize the burden of information collection on 
respondents, including through the use of automated collection 
techniques or other forms of information technology; and
    e. Estimates of capital or startup costs and costs of operation, 
maintenance, and purchase of services to provide information.
    At the end of the comment period, the comments and recommendations 
received will be analyzed to determine the extent to which the Board 
should modify the proposal.

Proposal Under OMB Delegated Authority To Extend for Three Years, 
Without Revision, the Following Information Collection

    Report title: Savings Association Holding Company Report.
    Agency form number: FR LL-(b)11.
    OMB control number: 7100-0334.
    Frequency: Quarterly,\2\ annually, and event-generated.
---------------------------------------------------------------------------

    \2\ The FR LL-(b)11 is filed quarterly except for the fourth 
quarter when the respondent is required to file its annual report.
---------------------------------------------------------------------------

    Respondents: Certain savings and loan holding companies (SLHCs).
    Estimated number of respondents: Quarterly: 6; annually: 6; event-
generated: 1.
    Estimated average hours per response: Quarterly: 2; annually: 2; 
event-generated: 2.
    Estimated annual burden hours: Quarterly: 36; annually: 12; event-
generated: 2.
    General description of report: Title III of the Dodd-Frank Wall 
Street Reform and Consumer Protection Act transferred to the Board the 
supervisory functions of the former Office of Thrift Supervision 
related to SLHCs and their non-depository subsidiaries. Pursuant to 
section 10(b) the Home Owners' Loan Act (HOLA), the Board may require 
SLHCs to file reports concerning their operations. Following the 
transfer to the Board of authority to supervise SLHCs, the Board 
determined to exempt certain SLHCs (known as ``exempt SLHCs'') from 
regulatory reporting using the Board's existing regulatory reports, 
including the Consolidated Financial Statements for Holding Companies 
(FR Y-9C; OMB No. 7100-0128) and the Parent Company Only Financial 
Statements for Small Holding Companies (FR Y-9SP; OMB No. 7100-0128). 
Exempt SLHCs must file the FR LL-(b)11 quarterly report in order for 
the Board to obtain the information that is necessary to supervise such 
SLHCs, monitor their financial condition, and assess their regulatory 
compliance. An SLHC is exempt from filing the FR Y-9C or FR Y-9SP if 
it: (1) Meets the requirements of section 10(c)(9)(C) of HOLA (i.e., a 
``grandfathered'' unitary SLHC) and has primarily commercial assets, 
with thrift assets making up less than 5 percent of the SLHC's 
consolidated assets;\3\ or (2) primarily

[[Page 47516]]

holds insurance-related assets and does not otherwise submit financial 
reports with the U.S. Securities and Exchange Commission pursuant to 
sections 13 or 15(d) of the Securities Exchange Act of 1934.
---------------------------------------------------------------------------

    \3\ Specifically, a grandfathered unitary SLHC is exempt if (1) 
as calculated annually as of June 30th, using the four previous 
quarters (which includes the quarter-ended June 30th reporting 
period), its savings association subsidiaries' consolidated assets 
make up less than 5 percent of the total consolidated assets of the 
grandfathered SLHC on an enterprise-wide basis for any of these four 
quarters; and (2) as calculated annually as of June 30th, using the 
assets reported as of June 30th, where more than 50 percent of the 
assets of the grandfathered unitary SLHC are derived from activities 
that are not otherwise permissible under HOLA on an enterprise-wide 
basis.
---------------------------------------------------------------------------

    The FR LL-(b)11 collects the following six categories of 
information:
    (1) Information about SEC filings;
    (2) Reports provided by Nationally Recognized Statistical Rating 
Organizations and Securities Analysts;
    (3) Supplemental information for the Quarterly Savings and Loan 
Holding Company Report (FR 2320; OMB No. 7100-0345);
    (4) Information about other materially important events;
    (5) Financial statements; and
    (6) Other exhibits required by the Board.
    Legal authorization and confidentiality: The FR LL-10(b)11 is 
authorized pursuant to section 10 of the Home Owners' Loan Act, which 
requires SLHCs to file ``such reports as may be required by the 
Board.'' \4\ The FR LL-(b)11 is mandatory.
---------------------------------------------------------------------------

    \4\ 12 U.S.C. 1467a(b)(2)(A).
---------------------------------------------------------------------------

    Information provided through the FR LL- (b)11 that corresponds to a 
``yes'' answer to questions 24, 25, and 26 of the FR 2320 is generally 
considered to be confidential under exemption 4 of the Freedom of 
Information Act (FOIA), which protects privileged or confidential 
commercial or financial information.\5\ If it should be determined 
subsequently that any information collected on these three items must 
be released, respondents will be notified. For other information 
submitted to the Board through the FR LL-(b)11, individual respondents 
may request that it be kept confidential. If a respondent requests 
confidential treatment, the Board will determine whether the 
information is entitled to confidential treatment on a case-by-case 
basis. Information may be kept confidential under exemption 4 of the 
FOIA, which exempts from disclosure ``trade secrets and commercial or 
financial information obtained from a person [that is] privileged or 
confidential,'' or exemption 8 of the FOIA, which exempts from 
disclosure information ``related to examination, operating, or 
condition reports prepared by, on behalf of, or for the use of an 
agency responsible for the regulation or supervision of financial 
institutions.'' \6\
---------------------------------------------------------------------------

    \5\ 5 U.S.C. 552(b)(4).
    \6\ 5 U.S.C. 552(b)(4) and (8).

    Board of Governors of the Federal Reserve System, September 4, 
2019.
Michele Taylor Fennell,
Assistant Secretary of the Board.
[FR Doc. 2019-19445 Filed 9-9-19; 8:45 am]
 BILLING CODE 6210-01-P