[Federal Register Volume 85, Number 163 (Friday, August 21, 2020)]
[Notices]
[Pages 51718-51719]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-18368]


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

FEDERAL RESERVE SYSTEM


Proposed Agency Information Collection Activities; Comment 
Request

AGENCY: Board of Governors of the Federal Reserve System.

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 Application for Exemption from Prohibited Service at 
Savings and Loan Holding Companies (FR LL-12; OMB No. 7100-0338).

DATES: Comments must be submitted on or before October 20, 2020.

ADDRESSES: You may submit comments, identified by FR LL-12, 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 the 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 from 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 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 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.

SUPPLEMENTARY INFORMATION: On June 15, 1984, OMB delegated to the Board 
authority under the PRA to approve and assign OMB control numbers to 
collections of information 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

[[Page 51719]]

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: Application for Exemption from Prohibited Service at 
Savings and Loan Holding Companies.
    Agency form number: FR LL-12.
    OMB control number: 7100-0338.
    Frequency: As needed.
    Respondents: Savings and loan holding companies (SLHCs) and 
prohibited persons that seek to participate in the affairs of an SLHC.
    Estimated number of respondents: Individuals: 43; SLHCs: 2.
    Estimated average hours per response: Individuals: 16 hours; SLHCs: 
16 hours.
    Estimated annual burden hours: Individuals: 688 hours; SLHCs: 32 
hours; total: 720 hours.
    General description of report: The Federal Deposit Insurance (FDI) 
Act and the Board's 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 SLHC or any of its subsidiaries 
without the written consent of the Board. Such an individual, or the 
SLHC with which the individual seeks to participate, may apply for an 
exemption from this prohibition.
    All prohibited persons and SLHCs that seek an exemption are subject 
to the application requirements of subpart I of Regulation LL. An 
applicant must provide information regarding the position at the SLHC 
held or to be held by the prohibited person, the prohibited person's 
level of ownership of the SLHC, the specific nature of the offense 
involved, evidence of rehabilitation, and other relevant factors listed 
in section 238.88(b) of Regulation LL (12 CFR 238.88(b)). An applicant 
may submit this information in a letter or by using the Federal Deposit 
Insurance Corporation's (FDIC) Application Pursuant to Section 19 of 
the Federal Deposit Insurance Act (OMB No. 3064-0018). The SLHC or 
prohibited person may seek an exemption only for a designated position 
(or positions) with respect to an SLHC identified in the application.
    Legal authorization and confidentiality: The FR LL-12 is authorized 
by section 19(e)(2) of the FDI Act, under which the ``Board . . . may 
provide exemptions [from the prohibition] by regulation or order . . . 
if the exemption is consistent with the purposes of this subsection.'' 
The FR LL-12 is required to obtain a benefit.
    Individual respondents may request that information submitted to 
the Board through the FR LL-12 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 collected through the FR LL-12 may be kept 
confidential under exemption 4 for the Freedom of Information Act 
(FOIA), which protects privileged or confidential commercial or 
financial information, or under FOIA exemption 6, which covers personal 
information, the disclosure of which would constitute an unwarranted 
invasion of privacy. Additionally, to the extent the FR LL-12 contains 
information extracted from examination reports, it may be withheld from 
disclosure under FOIA exemption 8, which protects information ``related 
to examination, operating, or condition reports.''
    Consultation outside the agency: The Board consulted with the FDIC 
on the burden estimate and the use of their form for Board submissions.

    Board of Governors of the Federal Reserve System, August 17, 
2020.
Michele Taylor Fennell,
Assistant Secretary of the Board.
[FR Doc. 2020-18368 Filed 8-20-20; 8:45 am]
BILLING CODE 6210-01-P