82 FR 31603 - Formations of, Acquisitions by, and Mergers of Bank Holding Companies

FEDERAL RESERVE SYSTEM

Federal Register Volume 82, Issue 129 (July 7, 2017)

Page Range		31603-31603
FR Document		2017-14275

Federal Register, Volume 82 Issue 129 (Friday, July 7, 2017)

[Federal Register Volume 82, Number 129 (Friday, July 7, 2017)]
[Notices]
[Page 31603]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2017-14275]


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FEDERAL RESERVE SYSTEM


Formations of, Acquisitions by, and Mergers of Bank Holding 
Companies

    The companies listed in this notice have applied to the Board for 
approval, pursuant to the Bank Holding Company Act of 1956 (12 U.S.C. 
1841 et seq.) (BHC Act), Regulation Y (12 CFR part 225), and all other 
applicable statutes and regulations to become a bank holding company 
and/or to acquire the assets or the ownership of, control of, or the 
power to vote shares of a bank or bank holding company and all of the 
banks and nonbanking companies owned by the bank holding company, 
including the companies listed below.
    The applications listed below, as well as other related filings 
required by the Board, are available for immediate inspection at the 
Federal Reserve Bank indicated. The applications will also be available 
for inspection at the offices of the Board of Governors. Interested 
persons may express their views in writing on the standards enumerated 
in the BHC Act (12 U.S.C. 1842(c)). If the proposal also involves the 
acquisition of a nonbanking company, the review also includes whether 
the acquisition of the nonbanking company complies with the standards 
in section 4 of the BHC Act (12 U.S.C. 1843). Unless otherwise noted, 
nonbanking activities will be conducted throughout the United States.
    Unless otherwise noted, comments regarding each of these 
applications must be received at the Reserve Bank indicated or the 
offices of the Board of Governors not later than August 1, 2017.
    A. Federal Reserve Bank of Richmond (Adam M. Drimer, Assistant Vice 
President) 701 East Byrd Street, Richmond, Virginia 23261-4528. 
Comments can also be sent electronically to or 
[email protected]:
    1. Sandy Spring Bancorp, Inc., Olney, Maryland; to acquire 
WashingtonFirst Bankshares, Inc., and thereby indirectly acquire 
WashingtonFirst Bank, both of Reston, Virginia.

    Board of Governors of the Federal Reserve System, July 3, 2017.
Yao-Chin Chao,
Assistant Secretary of the Board.
[FR Doc. 2017-14275 Filed 7-6-17; 8:45 am]
 BILLING CODE 6210-01-P

Federal Register / Vol. 82, No. 129 / Friday, July 7, 2017 / Notices 31603

send an email to FCC504@fcc.gov or call Board of Governors of the Federal Reserve Report Title: Annual Daylight
the Consumer & Governmental Affairs System, July 3, 2017. Overdraft Capital Report for U.S.
Bureau at 202–418–0530 (voice), 202– Yao-Chin Chao, Branches and Agencies of Foreign
418–0432 (TTY). Assistant Secretary of the Board. Banks.
Federal Communications Commission. [FR Doc. 2017–14275 Filed 7–6–17; 8:45 am] Agency Form Number: FR 2225.
BILLING CODE 6210–01–P OMB Control Number: 7100–0216.
Marlene H. Dortch,
Frequency: Annually.
Secretary. Respondents: Foreign banking
[FR Doc. 2017–14216 Filed 7–6–17; 8:45 am] FEDERAL RESERVE SYSTEM organizations (FBO).
BILLING CODE 6712–01–P Estimated Number of Respondents:
Agency Information Collection 50.
Activities: Announcement of Board Estimated Average Hours per
Approval Under Delegated Authority Response: 1.
FEDERAL RESERVE SYSTEM and Submission to OMB Estimated annual burden hours: 50.
AGENCY: Board of Governors of the General description of report: This
Formations of, Acquisitions by, and report was implemented in March 1986
Federal Reserve System.
Mergers of Bank Holding Companies SUMMARY: The Board of Governors of the as part of the procedures used to
Federal Reserve System (Board) is administer the Federal Reserve’s
The companies listed in this notice Payment System Risk (PSR) policy. A
adopting a proposal to extend for three
have applied to the Board for approval, key component of the PSR policy is a
years, without revision, the Annual
pursuant to the Bank Holding Company limit, or a net debit cap, on an
Daylight Overdraft Capital Report for
Act of 1956 (12 U.S.C. 1841 et seq.) U.S. Branches and Agencies of Foreign institution’s negative intraday balance
(BHC Act), Regulation Y (12 CFR part Banks (FR 2225; OMB No. 7100–0216). in its Reserve Bank account. The
225), and all other applicable statutes On June 15, 1984, the Office of Federal Reserve calculates an
and regulations to become a bank Management and Budget (OMB) institution’s net debit cap by applying
holding company and/or to acquire the delegated to the Board authority under the multiple associated with the net
assets or the ownership of, control of, or the Paperwork Reduction Act (PRA) to debit cap category to the institution’s
the power to vote shares of a bank or approve of and assign OMB control capital. For foreign banking
bank holding company and all of the numbers to collection of information organizations (FBOs), a percentage of
banks and nonbanking companies requests and requirements conducted or the FBO’s capital measure, known as the
owned by the bank holding company, sponsored by the Board. Board- U.S. capital equivalency, is used to
including the companies listed below. approved collections of information are calculate the FBO’s net debit cap.
The applications listed below, as well incorporated into the official OMB FBOs that wish to establish a positive
as other related filings required by the inventory of currently approved net debit cap and have a strength of
Board, are available for immediate collections of information. Copies of the support assessment (SOSA) 1 or SOSA
inspection at the Federal Reserve Bank Paperwork Reduction Act Submission, 2 ranking or hold a financial holding
indicated. The applications will also be supporting statements and approved company (FHC) designation are required
available for inspection at the offices of collection of information instrument(s) to submit the FR 2225 to their
the Board of Governors. Interested are placed into OMB’s public docket Administrative Reserve Bank (ARB).1 2
persons may express their views in files. The Federal Reserve may not Legal authorization and
writing on the standards enumerated in conduct or sponsor, and the respondent confidentiality: The Federal Reserve
the BHC Act (12 U.S.C. 1842(c)). If the is not required to respond to, an Board’s Legal Division has determined
proposal also involves the acquisition of information collection that has been that the FR 2225 is authorized by
a nonbanking company, the review also extended, revised, or implemented on or Sections 11(i), 16, and 19(f) of the
includes whether the acquisition of the after October 1, 1995, unless it displays Federal Reserve Act (12 U.S.C. 248(i),
nonbanking company complies with the a currently valid OMB control number. 248–1, and 464). An FBO is required to
standards in section 4 of the BHC Act FOR FURTHER INFORMATION CONTACT:
respond in order to obtain or retain a
(12 U.S.C. 1843). Unless otherwise Federal Reserve Board Clearance benefit, i.e., in order for the U.S. branch
noted, nonbanking activities will be Officer—Nuha Elmaghrabi—Office of or agency of an FBO to establish and
conducted throughout the United States. the Chief Data Officer, Board of maintain a non-zero net debit cap.
Governors of the Federal Reserve Respondents are not asked to submit
Unless otherwise noted, comments any data that are not ordinarily
regarding each of these applications System, Washington, DC, 20551 (202)
452–3829. Telecommunications Device disclosed to the public; accordingly,
must be received at the Reserve Bank such items would not routinely be
indicated or the offices of the Board of for the Deaf (TDD) users may contact
(202) 263–4869, Board of Governors of protected from disclosure under the
Governors not later than August 1, 2017.
the Federal Reserve System,
A. Federal Reserve Bank of Richmond Washington, DC 20551.
1 The Administrative Reserve Bank is responsible

(Adam M. Drimer, Assistant Vice for the administration of Federal Reserve credit,
OMB Desk Officer—Shagufta reserves, and risk-management policies for a given
President) 701 East Byrd Street, Ahmed—Office of Information and institution or other legal entity.
Richmond, Virginia 23261–4528.
asabaliauskas on DSKBBXCHB2PROD with NOTICES

Regulatory Affairs, Office of 2 Most FBOs that are ranked SOSA 3 do not
Comments can also be sent Management and Budget, New qualify for a positive net debit cap. In the event a
electronically to or Executive Office Building, Room 10235,
Reserve Bank grants a net debit cap or extends
Comments.applications@rich.frb.org: intraday credit to a financially healthy SOSA 3-
725 17th Street NW., Washington, DC ranked FBO, the financially healthy SOSA 3-ranked
1. Sandy Spring Bancorp, Inc., Olney, 20503 or by fax to (202) 395–6974. FBOs will have their U.S. capital equivalency based
Maryland; to acquire WashingtonFirst Final approval under OMB delegated on their ‘‘Net due to related depository institutions’’
as reported on the Report of Assets and Liabilities
Bankshares, Inc., and thereby indirectly authority of the extension for three of U.S. Branches and Agencies of Foreign Banks
acquire WashingtonFirst Bank, both of years, without revision, of the following (FFIEC 002), Schedule RAL, Item 5.a, Column A, for
Reston, Virginia. report: the most recent quarter.

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Document Created: 2017-07-07 02:20:10
Document Modified: 2017-07-07 02:20:10

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
FR Citation		82 FR 31603