80 FR 75102 - Proposed Agency Information Collection Activities; Comment Request

FEDERAL RESERVE SYSTEM

Federal Register Volume 80, Issue 230 (December 1, 2015)

Page Range		75102-75104
FR Document		2015-30446

On June 15, 1984, the Office of Management and Budget (OMB) delegated to the Board of Governors of the Federal Reserve System (Board) its approval authority under the Paperwork Reduction Act (PRA), to approve of and assign OMB numbers to collection of information requests and requirements conducted or sponsored by the Board. Board- approved collections of information are incorporated into the official OMB inventory of currently approved collections of information. Copies of the PRA Submission, supporting statements and approved collection of information instruments are placed into OMB's public docket files. The Federal Reserve may not conduct or sponsor, and the respondent is not required to respond to, an information collection that has been extended, revised, or implemented on or after October 1, 1995, unless it displays a currently valid OMB number.

Federal Register, Volume 80 Issue 230 (Tuesday, December 1, 2015)

[Federal Register Volume 80, Number 230 (Tuesday, December 1, 2015)]
[Notices]
[Pages 75102-75104]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2015-30446]


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FEDERAL RESERVE SYSTEM


Proposed Agency Information Collection Activities; Comment 
Request

AGENCY: Board of Governors of the Federal Reserve System.
SUMMARY: On June 15, 1984, the Office of Management and Budget (OMB) 
delegated to the Board of Governors of the Federal Reserve System 
(Board) its approval authority under the Paperwork Reduction Act (PRA), 
to approve of and assign OMB numbers to collection of information 
requests and requirements conducted or sponsored by the Board. Board-
approved collections of information are incorporated into the official 
OMB inventory of currently approved collections of information. Copies 
of the PRA Submission, supporting statements and approved collection of 
information instruments are placed into OMB's public docket files. The 
Federal Reserve may not conduct or sponsor, and the respondent is not 
required to respond to, an information collection that has been 
extended, revised, or implemented on or after October 1, 1995, unless 
it displays a currently valid OMB number.

DATES: Comments must be submitted on or before February 1, 2016.

ADDRESSES: You may submit comments, identified by FR 2436 or FR 3036, 
by any of the following methods:
     Agency Web site: http://www.federalreserve.gov. Follow the 
instructions for submitting comments at http://www.federalreserve.gov/apps/foia/proposedregs.aspx.
     Federal eRulemaking Portal: http://www.regulations.gov. 
Follow the instructions for submitting comments.
     Email: [email protected]. Include OMB 
number in the subject line of the message.
     FAX: (202) 452-3819 or (202) 452-3102.
     Mail: Robert deV. Frierson, Secretary, Board of Governors 
of the Federal Reserve System, 20th Street and Constitution Avenue NW., 
Washington, DC 20551.
    All public comments are available from the Board's Web site at 
http://www.federalreserve.gov/apps/foia/proposedregs.aspx as submitted, 
unless modified for technical reasons. Accordingly, your comments will 
not be edited to remove any identifying or contact information. Public 
comments may also be viewed electronically or in paper form in Room 
3515, 1801 K Street (between 18th and 19th Streets NW.) Washington, DC 
20006 between 9:00 a.m. and 5:00 p.m. on weekdays.
    Additionally, commenters may send a copy of their comments to the 
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.

FOR FURTHER INFORMATION CONTACT: A copy of the PRA OMB submission, 
including the proposed reporting form and instructions, supporting 
statement, and other documentation will be placed into OMB's public 
docket files, once approved. These documents will also be made 
available on the Federal Reserve Board's public Web site at: http://www.federalreserve.gov/apps/reportforms/review.aspx or may be requested 
from the agency clearance officer, whose name appears below.
    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. Telecommunications Device 
for the Deaf (TDD) users may contact (202) 263-4869, Board of Governors 
of the Federal Reserve System, Washington, DC 20551.

SUPPLEMENTARY INFORMATION:

Request for Comment on Information Collection Proposals

    The following information collections, which are being handled 
under this delegated authority, have received initial Board approval 
and are hereby published for comment. At the end of the comment period, 
the proposed information collections, along with an analysis of 
comments and recommendations received, will be submitted to the Board 
for final approval under OMB delegated authority. Comments are invited 
on the following:
    a. Whether the proposed collection of information is necessary for 
the proper performance of the Federal Reserve's functions; including 
whether the information has practical utility;
    b. The accuracy of the Federal Reserve'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 start up costs and costs of operation, 
maintenance, and purchase of services to provide information.
    Proposal to approve under OMB delegated authority the extension for 
three years, with revision, of the following reports:
    1. Report title: Semiannual Report of Derivatives Activity.
    Agency form number: FR 2436.
    OMB control number: 7100-0286.
    Frequency: Semiannually.
    Reporters: U.S. dealers of over-the-counter derivatives.
    Estimated annual reporting hours: 3,776 hours.
    Estimated average hours per response: 236 hours.
    Number of respondents: 8.
    General description of report: This information collection is 
voluntary and is authorized under section 2A and 12A of the Federal 
Reserve Act (FRA). Section 2A of the FRA requires the Federal Reserve 
Board and the Federal Open Market Committee (FOMC) to maintain long run 
growth of the monetary and credit aggregates commensurate with the 
economy's long run potential to increase production, so as to promote 
effectively the goals of maximum employment, stable prices, and 
moderate long-term interest rates (12 U.S.C. 225a) and section 12A of 
the FRA requires the FOMC to implement regulations relating to the open 
market operations conducted by Federal Reserve Banks with a view to 
accommodating commerce and business and with regard to their bearing 
upon the general credit situation of the country (12 U.S.C. 263). 
Because Federal Reserve System uses the

[[Page 75103]]

information obtained from the FR 2436 to fulfill these obligations, 
these statutory provisions provide the legal authorization for the 
collection of information on the FR 2436.
    Additionally, because all survey respondents are currently 
registered as bank holding companies, this survey is also authorized 
under section 5(c) of the Bank Holding Company Act (12 U.S.C. 1844(c)).
    Because the release of this information would cause substantial 
harm to the competitive position of the entity from whom the 
information was obtained, the information collected on the FR 2436 may 
be granted confidential treatment under exemption (b)(4) of the Freedom 
of Information Act, 5 U.S.C. 552(b)(4), which protects from disclosure 
``trade secrets and commercial or financial information obtained from a 
person and privileged or confidential.''
    Abstract: This collection of information complements the triennial 
Survey of Foreign Exchange and Derivatives Market Activity (FR 3036; 
OMB No. 7100-0285). The FR 2436 collects similar data on the 
outstanding volume of derivatives, but not on derivatives turnover. The 
Federal Reserve conducts both surveys in coordination with other 
central banks and forwards the aggregated data furnished by U.S. 
reporters to the Bank for International Settlements (BIS), which 
publishes global market statistics that are aggregates of national 
data.
    Current Actions: The Federal Reserve proposes to add central 
counterparties as an additional counterparty type for foreign exchange 
contracts in Tables 1A, 1B, and 1C, for interest rate contracts in 
Tables 2A, 2B, and 2C, for equity contracts in Tables 3A, 3B, and 3C, 
for maturity of contracts in Table 5, and for credit exposures and 
liabilities in Table 6. The Federal Reserve's interest in obtaining 
more detail on counterparty type arises because of the role that 
counterparty credit risk played in the recent global financial crisis. 
Central counterparties are of particular interest because after the 
crisis, financial regulators have encouraged greater use of central 
counterparties for derivatives contracts. The proposed revision will 
allow the Federal Reserve to better track the use of central 
counterparties for all types of derivatives contracts. Currently, 
central counterparties are broken out for only CDS contracts (Table 4A, 
4B, 4C, 4D, 4F, and 4G). In addition, the BIS is expanding its data 
collection on the global OTC derivatives market to include a breakdown 
of contracts with central counterparties, and the proposed revision 
will allow the United States to align its data collection with BIS 
reporting guidelines.
    The Federal Reserve also proposes to amend the definition of 
central counterparties in the FR 2436 instructions to align more 
closely with the definition used in capital regulations.\1\ Currently, 
the FR 2436 instructions give a more general definition of central 
counterparties and then list central counterparties in Annex V. Since 
the last revision of the FR 2436, many more central counterparties have 
been established. As a result of these changes, Annex V will be 
removed.
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    \1\ See Section 217.2 of 12 CFR Chapter II, Subchapter A.
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    The Federal Reserve proposes to correct a row heading in Table 5, 
to update the list of reporting dealers in Annex II, to drop Annex I (a 
copy of the report form) from the instructions and renumber the 
remaining annexes, and to make minor corrections to instructions.
    2. Report title: Central Bank Survey of Foreign Exchange and 
Derivative Market Activity.
    Agency form number: FR 3036.
    OMB control number: 7100-0285.
    Frequency: Triennially.
    Reporters: Financial institutions that serve as intermediaries in 
the wholesale foreign exchange and derivatives market and dealers.
    Estimated annual reporting hours: 1,320 hours.
    Estimated average hours per response: 55 hours.
    Number of respondents: 24.
    General description of report: This information collection is 
voluntary and is implicitly authorized under section 2A and 12A of the 
Federal Reserve Act (FRA). Section 2A of the FRA requires the Federal 
Reserve Board and the Federal Open Market Committee (FOMC) to maintain 
long run growth of the monetary and credit aggregates commensurate with 
the economy's long run potential to increase production, so as to 
promote effectively the goals of maximum employment, stable prices, and 
moderate long-term interest rates (12 U.S.C. 225a) and section 12A of 
the FRA requires the FOMC to implement regulations relating to the open 
market operations conducted by Federal Reserve Banks with a view to 
accommodating commerce and business and with regard to their bearing 
upon the general credit situation of the country (12 U.S.C. 263). 
Because Federal Reserve System uses the information obtained from the 
FR 3036 to fulfill these obligations, these statutory provisions 
provide the legal authorization for the collection of information on 
the FR 3036.\2\
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    \2\ Additionally, depending upon the survey respondent, the 
information collection may be authorized under a more specific 
statute. Specifically, the Federal Reserve is authorized to collect 
information from state member banks under section 9 of the Federal 
Reserve Act (12 U.S.C. 324); from bank holding companies (and their 
subsidiaries) under section 5(c) of the Bank Holding Company Act (12 
U.S.C. 1844(c)); from Edge and agreement corporations under section 
25 and 25A of the Federal Reserve Act (12 U.S.C. 602 and 625); and 
from U.S. branches and agencies of foreign banks under section 
7(c)(2) of the International Banking Act of 1978 (12 U.S.C. 
3105(c)(2)) and under section 7(a) of the Federal Deposit Insurance 
Act (12 U.S.C. 1817(a)).
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    Because the Federal Reserve believes the release of this 
information would cause substantial harm to the competitive position of 
the entity from whom the information was obtained, the information 
collected on the FR 3036 may be granted confidential treatment under 
exemption (b)(4) of the Freedom of Information Act, 5 U.S.C. 552(b)(4), 
which protects from disclosure ``trade secrets and commercial or 
financial information obtained from a person and privileged or 
confidential.''
    Abstract: The FR 3036 is the U.S. part of a global data collection 
that is conducted by central banks once every three years. More than 50 
central banks plan to conduct the survey in 2016. The Bank for 
International Settlements (BIS) compiles aggregate national data from 
each central bank to produce global market statistics. The Federal 
Reserve Bank of New Your (FRBNY) uses the survey to monitor activity in 
the foreign exchange and derivatives markets. Survey results also 
provide perspective on market developments for the Manager of the 
System Open Market Account, on the Desk's trading relationships, and 
for planning Federal Reserve and U.S. Treasury foreign exchange 
operations. Respondents also use the published data to gauge their 
market share.
    Current Actions: The Federal Reserve proposes the following 
revisions to the survey:

    1. For foreign exchange execution methods, FRBNY would 
separately collect ``dark pools'' under electronic-indirect trading, 
and would clarify what would be reported under ``Other electronic 
communication networks.'' (Dark pools are private platforms for 
trading securities especially for large trade sizes, where access is 
restricted and quotes are not revealed.) The instructions were 
changed to provide a definition of dark pools, as well as updated 
guidance on definitions used for the Execution Method schedule.
    2. The category ``Others'' under electronic-indirect trading 
would be deleted as this item is being deleted by the BIS. The 
deletion will ensure the FR 3036 aligns with the BIS survey.

[[Page 75104]]

    3. The questions on algorithmic and high frequency trading would 
be deleted as this item is being deleted by the BIS. The deletion 
will ensure the FR 3036 aligns with the BIS survey.
    4. The questions on the number of business days, estimated 
coverage of the survey and concentration levels, and trading 
activity trends would be deleted. The FRBNY will coordinate 
responses to these questions with the Secretary of the New York 
Foreign Exchange Committee and its Operations Subcommittee. This 
change will allow for an improvement in data quality as it 
eliminates issues with dealer weighting and poor response rates.
    5. The questions on ``retail-driven'' transactions would be 
deleted. The FRBNY will coordinate responses to these questions with 
the Secretary of the New York Foreign Exchange Committee and its 
Operations Subcommittee. This change will allow for an improvement 
in data quality as it eliminates issues with dealer weighting and 
poor response rates.

    Board of Governors of the Federal Reserve System, November 25, 
2015.
Robert deV. Frierson,
Secretary of the Board.
[FR Doc. 2015-30446 Filed 11-30-15; 8:45 am]
BILLING CODE 6210-01-P

75102 Federal Register / Vol. 80, No. 230 / Tuesday, December 1, 2015 / Notices

made all dividend distributions • Federal eRulemaking Portal: http:// proposed information collections, along
required by law. www.regulations.gov. Follow the with an analysis of comments and
The Receiver has further irrevocably instructions for submitting comments. recommendations received, will be
authorized and appointed FDIC- • Email: regs.comments@ submitted to the Board for final
Corporate as its attorney-in-fact to federalreserve.gov. Include OMB approval under OMB delegated
execute and file any and all documents number in the subject line of the authority. Comments are invited on the
that may be required to be executed by message. following:
the Receiver which FDIC-Corporate, in • FAX: (202) 452–3819 or (202) 452– a. Whether the proposed collection of
its sole discretion, deems necessary; 3102. information is necessary for the proper
including but not limited to releases, • Mail: Robert deV. Frierson, performance of the Federal Reserve’s
discharges, satisfactions, endorsements, Secretary, Board of Governors of the functions; including whether the
assignments and deeds. Federal Reserve System, 20th Street and information has practical utility;
Effective December 1, 2015 the Constitution Avenue NW., Washington, b. The accuracy of the Federal
Receivership Estate has been DC 20551. Reserve’s estimate of the burden of the
terminated, the Receiver discharged, All public comments are available proposed information collection,
and the Receivership Estate has ceased from the Board’s Web site at http:// including the validity of the
to exist as a legal entity. www.federalreserve.gov/apps/foia/ methodology and assumptions used;
proposedregs.aspx as submitted, unless c. Ways to enhance the quality,
Dated: November 25, 2015. utility, and clarity of the information to
modified for technical reasons.
Federal Deposit Insurance Corporation
Accordingly, your comments will not be be collected;
Robert E. Feldman, d. Ways to minimize the burden of
edited to remove any identifying or
Executive Secretary. contact information. Public comments information collection on respondents,
[FR Doc. 2015–30416 Filed 11–30–15; 8:45 am] may also be viewed electronically or in including through the use of automated
BILLING CODE 6714–01–P paper form in Room 3515, 1801 K Street collection techniques or other forms of
(between 18th and 19th Streets NW.) information technology; and
Washington, DC 20006 between 9:00 e. Estimates of capital or start up costs
a.m. and 5:00 p.m. on weekdays. and costs of operation, maintenance,
FEDERAL RESERVE SYSTEM and purchase of services to provide
Additionally, commenters may send a
copy of their comments to the OMB information.
Proposed Agency Information Proposal to approve under OMB
Collection Activities; Comment Desk Officer—Shagufta Ahmed—Office
of Information and Regulatory Affairs, delegated authority the extension for
Request three years, with revision, of the
Office of Management and Budget, New
AGENCY: Board of Governors of the Executive Office Building, Room 10235 following reports:
Federal Reserve System. 725 17th Street NW., Washington, DC 1. Report title: Semiannual Report of
SUMMARY: On June 15, 1984, the Office 20503 or by fax to (202) 395–6974. Derivatives Activity.
of Management and Budget (OMB) Agency form number: FR 2436.
FOR FURTHER INFORMATION CONTACT: A OMB control number: 7100–0286.
delegated to the Board of Governors of copy of the PRA OMB submission,
the Federal Reserve System (Board) its Frequency: Semiannually.
including the proposed reporting form Reporters: U.S. dealers of over-the-
approval authority under the Paperwork and instructions, supporting statement,
Reduction Act (PRA), to approve of and counter derivatives.
and other documentation will be placed Estimated annual reporting hours:
assign OMB numbers to collection of into OMB’s public docket files, once 3,776 hours.
information requests and requirements approved. These documents will also be Estimated average hours per response:
conducted or sponsored by the Board. made available on the Federal Reserve 236 hours.
Board-approved collections of Board’s public Web site at: http://www. Number of respondents: 8.
information are incorporated into the federalreserve.gov/apps/reportforms/ General description of report: This
official OMB inventory of currently review.aspx or may be requested from information collection is voluntary and
approved collections of information. the agency clearance officer, whose is authorized under section 2A and 12A
Copies of the PRA Submission, name appears below. of the Federal Reserve Act (FRA).
supporting statements and approved Federal Reserve Board Clearance Section 2A of the FRA requires the
collection of information instruments Officer—Nuha Elmaghrabi—Office of Federal Reserve Board and the Federal
are placed into OMB’s public docket the Chief Data Officer, Board of Open Market Committee (FOMC) to
files. The Federal Reserve may not Governors of the Federal Reserve maintain long run growth of the
conduct or sponsor, and the respondent System, Washington, DC 20551 (202) monetary and credit aggregates
is not required to respond to, an 452–3829. Telecommunications Device commensurate with the economy’s long
information collection that has been for the Deaf (TDD) users may contact run potential to increase production, so
extended, revised, or implemented on or (202) 263–4869, Board of Governors of as to promote effectively the goals of
after October 1, 1995, unless it displays the Federal Reserve System, maximum employment, stable prices,
a currently valid OMB number. Washington, DC 20551. and moderate long-term interest rates
DATES: Comments must be submitted on SUPPLEMENTARY INFORMATION: (12 U.S.C. 225a) and section 12A of the
or before February 1, 2016. FRA requires the FOMC to implement
ADDRESSES: You may submit comments,
Request for Comment on Information regulations relating to the open market
Collection Proposals
tkelley on DSK3SPTVN1PROD with NOTICES

identified by FR 2436 or FR 3036, by operations conducted by Federal
any of the following methods: The following information Reserve Banks with a view to
• Agency Web site: http://www. collections, which are being handled accommodating commerce and business
federalreserve.gov. Follow the under this delegated authority, have and with regard to their bearing upon
instructions for submitting comments at received initial Board approval and are the general credit situation of the
http://www.federalreserve.gov/apps/ hereby published for comment. At the country (12 U.S.C. 263). Because
foia/proposedregs.aspx. end of the comment period, the Federal Reserve System uses the

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75104 Federal Register / Vol. 80, No. 230 / Tuesday, December 1, 2015 / Notices

3. The questions on algorithmic and high Trustees of The Van Sanders Revocable indicated or the offices of the Board of
frequency trading would be deleted as this Trust, Minneapolis, Minnesota; to join Governors not later than December 24,
item is being deleted by the BIS. The deletion the Tychman/Sanders Group, and 2015.
will ensure the FR 3036 aligns with the BIS acquire voting shares of The Tysan A. Federal Reserve Bank of Chicago
survey.
Corporation, Minneapolis, Minnesota, (Colette A. Fried, Assistant Vice
4. The questions on the number of business
days, estimated coverage of the survey and and thereby indirectly acquire voting President) 230 South LaSalle Street,
concentration levels, and trading activity shares of Lake Community Bank, Long Chicago, Illinois 60690–1414:
trends would be deleted. The FRBNY will Lake, Minnesota, and Pine Country 1. Level One Bancorp, Inc.,
coordinate responses to these questions with Bank, Little Falls, Minnesota. Farmington Hills, Michigan; to acquire
the Secretary of the New York Foreign B. Federal Reserve Bank of Dallas 100 percent of the voting shares of Bank
Exchange Committee and its Operations (Robert L. Triplett III, Senior Vice of Michigan, Farmington Hills,
Subcommittee. This change will allow for an President) 2200 North Pearl Street, Michigan.
improvement in data quality as it eliminates Dallas, Texas 75201–2272:
issues with dealer weighting and poor Board of Governors of the Federal Reserve
1. The Morris Family Trust, Frank E. System, November 25, 2015.
response rates. Morris and Janet G. Morris, Gainesville,
5. The questions on ‘‘retail-driven’’ Michael J. Lewandowski,
Texas, as Trustees and to join the Morris
transactions would be deleted. The FRBNY Associate Secretary of the Board.
will coordinate responses to these questions Family Group, a group acting in concert;
[FR Doc. 2015–30436 Filed 11–30–15; 8:45 am]
with the Secretary of the New York Foreign to retain voting shares of Red River
BILLING CODE 6210–01–P
Exchange Committee and its Operations Bancorp, Inc., and thereby indirectly
Subcommittee. This change will allow for an retain voting shares of First State Bank,
improvement in data quality as it eliminates both in Gainesville, Texas.
issues with dealer weighting and poor FEDERAL RESERVE SYSTEM
Board of Governors of the Federal Reserve
response rates.
System, November 25, 2015. Notice of Proposals to Engage in or to
Board of Governors of the Federal Reserve Michael J. Lewandowski, Acquire Companies Engaged in
System, November 25, 2015. Associate Secretary of the Board. Permissible Nonbanking Activities
Robert deV. Frierson, [FR Doc. 2015–30438 Filed 11–30–15; 8:45 am]
Secretary of the Board. The companies listed in this notice
BILLING CODE 6210–01–P have given notice under section 4 of the
[FR Doc. 2015–30446 Filed 11–30–15; 8:45 am]
Bank Holding Company Act (12 U.S.C.
BILLING CODE 6210–01–P
1843) (BHC Act) and Regulation Y, (12
FEDERAL RESERVE SYSTEM
CFR part 225) to engage de novo, or to
FEDERAL RESERVE SYSTEM Formations of, Acquisitions by, and acquire or control voting securities or
Mergers of Bank Holding Companies assets of a company, including the
Change in Bank Control Notices; companies listed below, that engages
Acquisitions of Shares of a Bank or The companies listed in this notice either directly or through a subsidiary or
Bank Holding Company have applied to the Board for approval, other company, in a nonbanking activity
pursuant to the Bank Holding Company that is listed in § 225.28 of Regulation Y
The notificants listed below have Act of 1956 (12 U.S.C. 1841 et seq.) (12 CFR 225.28) or that the Board has
applied under the Change in Bank (BHC Act), Regulation Y (12 CFR part determined by Order to be closely
Control Act (12 U.S.C. 1817(j)) and 225), and all other applicable statutes related to banking and permissible for
§ 225.41 of the Board’s Regulation Y (12 and regulations to become a bank bank holding companies. Unless
CFR 225.41) to acquire shares of a bank holding company and/or to acquire the otherwise noted, these activities will be
or bank holding company. The factors assets or the ownership of, control of, or conducted throughout the United States.
that are considered in acting on the the power to vote shares of a bank or Each notice is available for inspection
notices are set forth in paragraph 7 of bank holding company and all of the at the Federal Reserve Bank indicated.
the Act (12 U.S.C. 1817(j)(7)). banks and nonbanking companies The notice also will be available for
The notices are available for owned by the bank holding company, inspection at the offices of the Board of
immediate inspection at the Federal including the companies listed below. Governors. Interested persons may
Reserve Bank indicated. The notices The applications listed below, as well express their views in writing on the
also will be available for inspection at as other related filings required by the question whether the proposal complies
the offices of the Board of Governors. Board, are available for immediate with the standards of section 4 of the
Interested persons may express their inspection at the Federal Reserve Bank BHC Act.
views in writing to the Reserve Bank indicated. The applications will also be Unless otherwise noted, comments
indicated for that notice or to the offices available for inspection at the offices of regarding the notices must be received
of the Board of Governors. Comments the Board of Governors. Interested at the Reserve Bank indicated or the
must be received not later than persons may express their views in offices of the Board of Governors not
December 15, 2015. writing on the standards enumerated in later than December 15, 2015.
A. Federal Reserve Bank of the BHC Act (12 U.S.C. 1842(c)). If the A. Federal Reserve Bank of
Minneapolis (Jacquelyn K. Brunmeier, proposal also involves the acquisition of Minneapolis (Jacquelyn K. Brunmeier,
Assistant Vice President) 90 Hennepin a nonbanking company, the review also Assistant Vice President) 90 Hennepin
Avenue, Minneapolis, Minnesota includes whether the acquisition of the Avenue, Minneapolis, Minnesota
55480–0291: nonbanking company complies with the 55480–0291:
tkelley on DSK3SPTVN1PROD with NOTICES

1. James N. Sanders, Plymouth, standards in section 4 of the BHC Act 1. Tradition Bancshares, Inc., Edina,
Minnesota, as managing member of (12 U.S.C. 1843). Unless otherwise Minnesota; to acquire 22 percent of the
Thanh Van LLC, Minneapolis, noted, nonbanking activities will be voting shares of First Lawyers Trust
Minnesota, Van Sanders, Plymouth, conducted throughout the United States. Company, Rapid City, South Dakota,
Minnesota, as managing member of JNS Unless otherwise noted, comments and thereby engage in trust company
LLC, Minneapolis, Minnesota, and regarding each of these applications functions, pursuant to section
James N. Sanders and Van Sanders, must be received at the Reserve Bank 225.28(b)(5).

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Document Created: 2018-03-02 09:10:43
Document Modified: 2018-03-02 09:10:43

Category		Regulatory Information
Collection		Federal Register
sudoc Class		AE 2.7: GS 4.107: AE 2.106:
Publisher		Office of the Federal Register, National Archives and Records Administration
Section		Notices
Action		The Federal Reserve proposes to add central counterparties as an additional counterparty type for foreign exchange contracts in Tables 1A, 1B, and 1C, for interest rate contracts in Tables 2A, 2B, and 2C, for equity contracts in Tables 3A, 3B, and 3C, for maturity of contracts in Table 5, and for credit exposures and liabilities in Table 6. The Federal Reserve's interest in obtaining more detail on counterparty type arises because of the role that counterparty credit risk played in the recent global financial crisis. Central counterparties are of particular interest because after the crisis, financial regulators have encouraged greater use of central counterparties for derivatives contracts. The proposed revision will allow the Federal Reserve to better track the use of central counterparties for all types of derivatives contracts. Currently, central counterparties are broken out for only CDS contracts (Table 4A, 4B, 4C, 4D, 4F, and 4G). In addition, the BIS is expanding its data collection on the global OTC derivatives market to include a breakdown of contracts with central counterparties, and the proposed revision will allow the United States to align its data collection with BIS reporting guidelines.
Dates		Comments must be submitted on or before February 1, 2016.
Contact		A copy of the PRA OMB submission, including the proposed reporting form and instructions, supporting statement, and other documentation will be placed into OMB's public docket files, once approved. These documents will also be made available on the Federal Reserve Board's public Web site at: http:// www.federalreserve.gov/apps/reportforms/review.aspx or may be requested from the agency clearance officer, whose name appears below.
FR Citation		80 FR 75102