[Federal Register Volume 87, Number 227 (Monday, November 28, 2022)]
[Notices]
[Pages 72997-72998]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-25891]


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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 for three years, without revision, the 
Savings Association Holding Company Report (FR LL-(b)11; OMB No. 7100-
0334).

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.
    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

[[Page 72998]]

Submission, supporting statements (which contain more detailed 
information about the information collections and burden estimates than 
this notice), 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/reportingforms/home/review 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 Collection

    Collection title: Savings Association Holding Company Report.
    Collection identifier: FR LL-(b)11.
    OMB control number: 7100-0334.
    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 savings and loan holding companies (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).\1\ 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 \2\ or (2) primarily holds 
insurance-related assets and does not submit financial reports with the 
SEC pursuant to sections 13 or 15(d) of the Securities Exchange Act of 
1934.\3\
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    \1\ 76 FR 81933 (December 29, 2011).
    \2\ 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.
    \3\ 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.
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    The reports filed under this collection are mostly unstructured and 
include:
     Securities and Exchange Commission filings,
     Copies of reports on any company in their organizational 
structure provided to the SLHC by Nationally Recognized Statistical 
Rating Organizations and Securities Analysts,
     Supplemental information for the Quarterly Savings and 
Loan Holding Company Report (FR 2320; OMB No. 7100-0345),
     Information about other materially important events,
     Financial statements, and
     Exhibits that include the SLHC's charter and bylaws or 
instruments corresponding thereto.
    Frequency: Quarterly,\4\ annually, and event-generated.
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    \4\ The FR LL-(b)11 is filed quarterly except for the fourth 
quarter when the respondent is required to file its annual report.
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    Respondents: Exempt SLHCs.
    Total estimated number of respondents: 3.
    Total estimated annual burden hours: 26.5
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    \5\ More detailed information regarding this collection, 
including more detailed burden estimates, can be found in the OMB 
Supporting Statement posted at https://www.federalreserve.gov/apps/reportingforms/home/review. On the page displayed at the link, you 
can find the OMB Supporting Statement by referencing the collection 
identifier, FR LL-(b)11.
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    Current actions: On August 2, 2022, the Board published a notice in 
the Federal Register (87 FR 47209) requesting public comment for 60 
days on the extension, without revision, of the FR LL-(b)11. The 
comment period for this notice expired on October 3, 2022. The Board 
did not receive any comments.

    Board of Governors of the Federal Reserve System, November 22, 
2022.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2022-25891 Filed 11-25-22; 8:45 am]
BILLING CODE 6210-01-P