[Federal Register Volume 88, Number 246 (Tuesday, December 26, 2023)]
[Notices]
[Page 88923]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-28349]



[[Page 88923]]

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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 for 
Exemption from Prohibited Service at Savings and Loan Holding Companies 
(FR LL-12; OMB No. 7100-0338).

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 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, With Revision, of the Following Information Collection

    Collection title: Application for Exemption from Prohibited Service 
at Savings and Loan Holding Companies.
    Collection identifier: FR LL-12.
    OMB control number: 7100-0338.
    Effective date: December 31, 2023.
    General description of collection: The Federal Deposit Insurance 
Act and the Board's Regulation LL--Savings and Loan Holding Companies 
(12 CFR part 238) prohibit individuals who have been convicted of 
certain criminal offenses or who have agreed to enter into a pretrial 
diversion or similar program in connection with a prosecution for such 
criminal offenses from participating in the affairs of a savings and 
loan holding company (SLHC) or any of its subsidiaries without the 
written consent of the Board. Such an individual, or the SLHC with 
which the individual seeks to participate, may apply for an exemption 
from this prohibition.
    Frequency: Event-generated.
    Respondents: SLHCs; Individuals.
    Total estimated number of respondents: 32.
    Total estimated change in burden: 530.
    Total estimated annual burden hours: 674.\1\
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    \1\ 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-12.
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    Current actions: On September 28, 2023, the Board published a 
notice in the Federal Register (88 FR 66844) requesting public comment 
for 60 days on the extension, with revision, of the FR LL-12. The Board 
proposed to revise the FR LL-12 by clearing two previously uncleared 
recordkeeping and disclosure requirements: (1) In order to utilize the 
exception at 12 CFR 238.86 related to employees in non-policymaking 
roles, an SLHC must maintain a list of all policymaking positions and 
review this list annually; and (2) A person who is not subject to the 
requirement to seek an exemption from the Board because their criminal 
offenses are de minimis must disclose the conviction or pretrial 
diversion or similar program to all insured depository institutions and 
other banking organizations the affairs of which he or she 
participates. The comment period for this notice expired on November 
27, 2023. The Board did not receive any comments. The revisions will be 
implemented as proposed.

    Board of Governors of the Federal Reserve System, December 19, 
2023.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2023-28349 Filed 12-22-23; 8:45 am]
BILLING CODE 6210-01-P