[Federal Register Volume 87, Number 99 (Monday, May 23, 2022)]
[Notices]
[Pages 31235-31236]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-10966]


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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, with revision, the Application to 
Become a Savings and Loan Holding Company or to Acquire a Savings 
Association or Savings and Loan Holding Company (FR LL-10(e); OMB No. 
7100-0336).

DATES: The revisions are applicable as of June 22, 2022.

FOR FURTHER INFORMATION CONTACT: Federal Reserve Board Clearance 
Officer--Nuha Elmaghrabi--Office of

[[Page 31236]]

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 for the Federal 
Reserve Board, 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 Paperwork Reduction Act (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, With Revision, of the Following Information Collection

    Collection title: Application to Become a Savings and Loan Holding 
Company or to Acquire a Savings Association or Savings and Loan Holding 
Company.
    Collection identifier: FR LL-10(e).
    OMB control number: 7100-0336.
    Effective Date: June 22, 2022.
    Frequency: Event generated.
    Respondents: Entities seeking prior approval to become or acquire a 
savings and loan holding company (SLHC).
    Estimated number of respondents: 15.
    Estimated average hours per response: Reporting, 60; Disclosure, 1.
    Estimated annual burden hours: Reporting, 900; Disclosure, 15.
    General description of collection: The form collects information 
concerning certain proposed SLHC formations, acquisitions, and mergers. 
Specifically, the form collects financial and managerial information 
and information about the proposed transaction, the competitive effects 
of the proposal, and the impact of the transaction on the convenience 
and needs of the communities to be served. Applicants that file the FR 
LL-10(e) are also required to publish a notice in a newspaper of 
general circulation in the community(ies) in which the head office(s) 
of the applicant; its largest subsidiary savings association, if any; 
and each savings association to be directly or indirectly acquired are 
located.
    Legal authorization and confidentiality: The FR LL-10(e) is 
authorized by section 10(b)(2) of the Home Owners' Loan Act (HOLA).\1\ 
The FR LL-10(e) is required to obtain a benefit.
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    \1\ 12 U.S.C. 1467a(b) (requiring SLHCs to register with the 
Board on such forms as it may prescribe and authorizing the Board to 
require reports from SLHCs containing such information concerning 
the operations of SLHCs and their subsidiaries as the Board may 
require).
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    Information submitted on the FR LL-10(e) may be protected from 
disclosure pursuant to exemption 8 of the Freedom of Information Act 
(FOIA) \2\ if it is contained in or 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. An applicant may also request confidential treatment for 
information provided on the FR LL-10(e) in accordance with the Board's 
Rules Regarding Availability of Information,\3\ and such requests will 
be reviewed on a case-by-case basis. To the extent information provided 
on the FR LL-10(e) is nonpublic commercial or financial information, 
which is both customarily and actually treated as private by the 
respondent, or to the extent the information reflects personnel and 
medical files, the disclosure of which would constitute a clearly 
unwarranted invasion of personal privacy, the information may be 
protected from disclosure pursuant to FOIA exemption 4 or 6, 
respectively.\4\
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    \2\ 5 U.S.C. 552(b)(8).
    \3\ 12 CFR 261.17.
    \4\ 5 U.S.C. 552(b)(4); (b)(6).
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    Current actions: On January 28, 2022, the Board published a notice 
in the Federal Register (87 FR 4593) requesting public comment for 60 
days on the extension, with revision, of the FR LL-10(e). The Board 
proposed to revise the FR LL-10(e) by adding a two-page standardized 
application and certification form; adding instructions on what 
information a filer must include in a notice regarding the 
reorganization of a newly-formed holding company pursuant to 12 CFR 
238.12(a)(2); providing that applicants that have elected to utilize 
the Community Bank Leverage Ratio framework would not be required to 
submit information related to risk-weighted assets or risk-based 
capital ratios; and explicitly listing filings under section 238.11(f) 
of Regulation LL on the instructions. The Board also proposed a minor 
change that would correct a cross-reference to the Board's rules 
regarding the availability of information and to clarify that the 
informational requirements of the FR LL-10(e) are mandatory for all 
filers. The comment period for this notice expired on March 29, 2022. 
The Board did not receive any comments. The revisions will be 
implemented as proposed.

    Board of Governors of the Federal Reserve System, May 17, 2022.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2022-10966 Filed 5-20-22; 8:45 am]
BILLING CODE 6210-01-P