[Federal Register Volume 86, Number 72 (Friday, April 16, 2021)]
[Notices]
[Pages 20154-20155]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-07803]


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

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 
Interagency Bank Merger Act Application (FR 2070; OMB No. 7100-0171).

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. 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.

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. Board-
approved collections of information are incorporated into the official 
OMB inventory of currently approved collections of information. The OMB 
inventory, as well as copies of the PRA Submission, supporting 
statements, and approved collection of information instrument(s) are 
available at https://www.reginfo.gov/public/do/PRAMain. These documents 
are also available on the Federal Reserve 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.

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

    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

[[Page 20155]]

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 an 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\
---------------------------------------------------------------------------

    \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).
---------------------------------------------------------------------------

    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 in connection with the FR 2070, 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\ 
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. In addition, 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 
information may be kept confidential pursuant to exemption 8 of the 
FOIA.\4\
---------------------------------------------------------------------------

    \2\ 5 U.S.C. 552(b)(4).
    \3\ 5 U.S.C. 552(b)(6).
    \4\ 5 U.S.C. 552(b)(8).
---------------------------------------------------------------------------

    Current actions: On December 23, 2020, the Board published a notice 
in the Federal Register (85 FR 83955) requesting public comment for 60 
days on the extension, without revision, of the Interagency Bank Merger 
Act Application. The comment period for this notice expired on February 
22, 2021. The Board did not receive any comments.

    Board of Governors of the Federal Reserve System, April 12, 
2021.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2021-07803 Filed 4-15-21; 8:45 am]
BILLING CODE 6210-01-P