[Federal Register Volume 87, Number 147 (Tuesday, August 2, 2022)]
[Notices]
[Pages 47209-47211]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-16478]


=======================================================================
-----------------------------------------------------------------------

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 Savings Association Holding Company Report (FR LL-(b)11; 
OMB No. 7100-0334).

DATES: Comments must be submitted on or before October 3, 2022.

[[Page 47210]]


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 the OMB 
number or FR number in the subject line of the message.
     Fax: (202) 452-3819 or (202) 452-3102.
     Mail: Federal Reserve Board of Governors, Attn: Ann E. 
Misback, Secretary of the Board, Mailstop M-4775, 2001 C St 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 confidential 
business information, identifying information, or contact information. 
Public comments may also be viewed electronically or in paper in Room 
M-4365A, 2001 C St NW, Washington, DC 20551, 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 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.

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, [email protected], (202) 
452-3884.

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. 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.
    During the comment period for this proposal, a copy of the proposed 
PRA OMB submission, including the draft reporting form and 
instructions, supporting statement, and other documentation, will 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. Final 
versions of these documents will be made available at https://www.reginfo.gov/public/do/PRAMain, if approved.

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

    Collection title: Savings Association Holding Company Report.
    Collection identifier: FR LL-(b)11.
    OMB control number: 7100-0334.
    Frequency: Quarterly,\1\ annually, and event-generated.
---------------------------------------------------------------------------

    \1\ The FR LL-(b)11 is filed quarterly except for the fourth 
quarter when the respondent is required to file its annual report.
---------------------------------------------------------------------------

    Respondents: Exempt savings and loan holding companies (SLHCs).
    Estimated number of respondents: Quarterly: 3; annually: 3; event-
generated: 1.
    Estimated average hours per response: Quarterly: 2; annually: 2; 
event-generated: 2.
    Estimated annual burden hours: Quarterly: 18; annually: 6; event-
generated: 2.
    General description of collection: 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) of 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 (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).\2\ An SLHC is an exempt SLHC if it (1) meets the requirements of 
section 10(c)(9)(C) of HOLA (i.e., it is a ``legacy'' 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 holds 
insurance-related assets and does not submit financial reports with the 
Securities and Exchange Commission (SEC) pursuant to sections 13 or 
15(d) of the Securities Exchange Act of 1934.\4\
---------------------------------------------------------------------------

    \2\ 76 FR 81933 (December 29, 2011).
    \3\ Specifically, a legacy 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 
legacy 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 legacy unitary SLHC are derived from activities that 
are not otherwise permissible under HOLA on an enterprise-wide 
basis.
    \4\ Specifically, an SLHC is considered to primarily hold 
insurance-related assets if, as calculated annually as of June 30th, 
using the assets reported as of June 30th, more than 50 percent of 
the assets of the SLHC are derived from the business of insurance on 
an enterprise-wide basis.

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

[[Page 47211]]

    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 (NRSROs) 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-(b)11 is 
authorized by section 10 of the HOLA.\5\ The FR LL-(b)11 is mandatory.
---------------------------------------------------------------------------

    \5\ 12 U.S.C. 1467a(b)(2)(A) (Requiring each SLHC and each 
subsidiary thereof, other than a savings association, to ``file with 
the Board, such reports as may be required by the Board.'').
---------------------------------------------------------------------------

    Information provided under the FR LL-(b)11 relating to supplemental 
questions on the FR 2320 to which the respondent provided a ``yes'' 
response is generally considered to be confidential under exemption 4 
of the Freedom of Information Act (FOIA), which protects nonpublic 
commercial or financial information that is both customarily and 
actually treated as private by the respondent.\6\ Respondents will be 
notified if it is subsequently determined that any such information 
must be released.
---------------------------------------------------------------------------

    \6\ 12 U.S.C. 552(b)(4).
---------------------------------------------------------------------------

    Information submitted to the Board under the FR LL-(b)11 may also 
be protected from disclosure pursuant to exemption 8 of the FOIA 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.\7\ Finally, individual respondents may request 
confidential treatment in accordance with the Board's Rules Regarding 
Availability of Information.\8\ Requests for confidential treatment of 
information are reviewed on a case-by-case basis. To the extent 
information provided on the FR LL-(b)11--apart from the material 
described above--is nonpublic commercial or financial information, 
which is both customarily and actually treated as private by the 
respondent, the information may be protected from disclosure pursuant 
to exemption 4 of the FOIA.\9\
---------------------------------------------------------------------------

    \7\ 5 U.S.C. 552(b)(8).
    \8\ 12 CFR 261.17.
    \9\ 5 U.S.C. 552(b)(4).

    Board of Governors of the Federal Reserve System, July 27, 2022.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2022-16478 Filed 8-1-22; 8:45 am]
BILLING CODE 6210-01-P