[Federal Register Volume 85, Number 247 (Wednesday, December 23, 2020)]
[Notices]
[Pages 83955-83956]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-28328]


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FEDERAL RESERVE SYSTEM


Proposed Agency Information Collection Activities; Comment 
Request

AGENCY: Board of Governors of the Federal Reserve System.

ACTION: Notice, request for comment.

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SUMMARY: The Board of Governors of the Federal Reserve System (Board) 
invites comment on a proposal to extend for three years, without 
revision, the Interagency Bank Merger Act Application (FR 2070; OMB No. 
7100-0171).

DATES: Comments must be submitted on or before February 22, 2021.

ADDRESSES: You may submit comments, identified by FR 2070, 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,

[[Page 83956]]

725 17th Street NW, Washington, DC 20503, or by fax to (202) 395-6974.

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.

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.
    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 above.

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: Interagency Bank Merger Act Application.
    Agency form number: FR 2070.
    OMB control number: 7100-0171.
    Frequency: Event generated.
    Respondents: All state member banks regulated by the Federal 
Reserve.
    Estimated number of respondents: Nonaffiliate transactions, 54; 
Affiliate transactions, 10.
    Estimated average hours per response: Nonaffiliate transactions, 
31; Affiliate transactions, 19.
    Estimated annual burden hours: Nonaffiliate transactions, 1,674; 
Affiliate transactions, 190.
    General description of report: The FR 2070 is an event-generated 
application and is completed by a state member bank (SMB) each time the 
bank requests approval to effect a merger, consolidation, assumption of 
deposit liabilities, other combining transaction with a nonaffiliated 
party, or a corporate reorganization with an affiliated party. The 
reporting form collects information on the basic legal and structural 
aspects of these transactions.
    The applicant is required to publish a notice in a newspaper of 
general circulation in the community(ies) in which the head office of 
each of the banks to be a party to the merger, consolidation, or 
acquisition of assets or assumption of liabilities is located. The 
notice must be published on at least three occasions at appropriate 
intervals. The last publication of the notice shall appear at least 30 
days after the first publication. The notice must state the name and 
address of each party to the proposal, and it must invite the public to 
submit written comments to the appropriate Federal Reserve Bank. Within 
seven days of publication of notice for the first time, the applicant 
shall submit its application to the appropriate Federal Reserve Bank 
for acceptance, along with a copy of the notice.
    Legal authorization and confidentiality: The FR 2070 is authorized 
by section 18(c) of the Federal Deposit Insurance Act, which requires, 
in relevant part, that a SMB, when it is the acquiring, assuming, or 
resulting bank, obtain prior approval from the Board before merging or 
consolidating with another insured depository institution, or assuming 
liability to pay any deposits made in any other depository 
institution.\1\
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    \1\ 12 U.S.C. 1828(c). The Board also has the authority to 
require reports from state member banks (12 U.S.C. 248(a) and 324).
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    The obligation to respond is required to obtain a benefit. 
Individual respondents may request that information submitted to the 
Board through the FR 2070 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. To the extent a respondent submits nonpublic commercial or 
financial information, which is both customarily and actually treated 
as private by the respondent, the respondent may request confidential 
treatment pursuant to exemption 4 of the Freedom of Information Act 
(FOIA).\2\ To the extent a respondent submits personnel, medical, or 
similar files, the disclosure of which would constitute an unwarranted 
invasion of privacy, the respondent may request confidential treatment 
pursuant to exemption 6 of the FOIA.\3\ To the extent a respondent 
submits information related to examination, operating, or condition 
reports prepared by, on behalf of, or for the use of a financial 
supervisory agency, the respondent may request confidential treatment 
pursuant to exemption 8 of the FOIA.\4\ The entity should separately 
designate any such information as ``confidential commercial 
information'' or ``confidential financial information'' as appropriate, 
and the Board will treat such designated information as confidential to 
the extent permitted by law, including the FOIA. Consultation outside 
the agency: An interagency working group responsible for reviewing this 
collection, comprised of representatives from the Board, OCC, and FDIC, 
collaborated on confirming that there were no substantive changes 
needed to this form for this clearance cycle.
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    \2\ 5 U.S.C. 552(b)(4).
    \3\ 5 U.S.C. 552(b)(6).
    \4\ 5 U.S.C. 552(b)(8).

    Board of Governors of the Federal Reserve System, December 17, 
2020.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2020-28328 Filed 12-22-20; 8:45 am]
BILLING CODE 6210-01-P