82 FR 34311 - Proposed Agency Information Collection Activities; Comment Request

FEDERAL RESERVE SYSTEM

Federal Register Volume 82, Issue 140 (July 24, 2017)

The Board of Governors of the Federal Reserve System (Board) invites comment on a proposal to extend for three years, without revision, the Application for Exemption from Prohibited Service at Savings and Loan Holding Companies (FR LL-12; OMB No. 7100-0338). On June 15, 1984, the Office of Management and Budget (OMB) delegated to the Board authority under the Paperwork Reduction Act (PRA) to approve and assign OMB control numbers to collection of information requests and requirements 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.

[Federal Register Volume 82, Number 140 (Monday, July 24, 2017)]
[Notices]
[Pages 34311-34312]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2017-15401]


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FEDERAL RESERVE SYSTEM


Proposed Agency Information Collection Activities; Comment 
Request

AGENCY: Board of Governors of the Federal Reserve System.

ACTION: Notice; request for comment.

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SUMMARY: The Board of Governors of the Federal Reserve System (Board) 
invites comment on a proposal to extend for three years, without 
revision, the Application for Exemption from Prohibited Service at 
Savings and Loan Holding Companies (FR LL-12; OMB No. 7100-0338).
    On June 15, 1984, the Office of Management and Budget (OMB) 
delegated to the Board authority under the Paperwork Reduction Act 
(PRA) to approve and assign OMB control numbers to collection of 
information requests and requirements 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.

DATES: Comments must be submitted on or before September 22, 2017.

ADDRESSES: You may submit comments, identified by FR LL-12, 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: Ann E. Misback, 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 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 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 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 Federal 
Reserve should modify the proposed revisions prior to giving final 
approval.

Proposal To Approve Under OMB Delegated Authority the Extension for 
Three Years, Without Revision, of the Following Report

    Report title: Application for Exemption from Prohibited Service at 
Savings and Loan Holding Companies.
    Agency form number: FR LL-12.
    OMB control number: 7100-0337.
    Frequency: On occasion.
    Respondents: Individuals and savings and loan holding companies.
    Estimated number of respondents: 15.
    Estimated average hours per response: 16.
    Estimated annual burden hours: 240.
    General Description of Report: The Federal Deposit Insurance (FDI) 
Act and Regulation LL (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. In order for 
such a person to participate in the conduct of the affairs of any SLHC, 
the SLHC or the individual must file an application seeking to obtain 
an exemption from the Board. The Board will use any information 
provided by the applicant when considering an exemption request 
concerning a prohibited person. Such considerations will include, but 
are not limited to, whether the prohibited person would participate in 
the major policymaking functions of the SLHC or would threaten the 
safety and soundness of any subsidiary insured depository institution 
of the SLHC or the public confidence in the insured depository 
institution.
    Legal authorization and confidentiality: The Board has determined 
that this information collection is authorized by section 19(e)(2) of 
the FDI Act, which states that the ``Board . . . may provide exemptions 
[from the prohibition] by regulation or order . . . if the exemption is 
consistent with the purposes of this subsection'' (12 U.S.C. 
1829(e)(2)). The Board exercises general supervision over SLHCs, which 
includes

[[Page 34312]]

examination authority and the imposition of reporting and recordkeeping 
requirements (12 U.S.C. 1467a(b)(2)). This information collection is 
required in order for prohibited persons to obtain the benefit of 
becoming, or continuing service as, an institution-affiliated party of 
an SLHC, and for an SLHC to permit that prohibited person to engage in 
any conduct or continue any relationship prohibited by section 19(e) of 
the FDI Act.
    As required information, the information submitted can be withheld 
pursuant to sections (b)(4), (b)(6), and (b)(8) of the Freedom of 
Information Act (5 U.S.C. 552(b)(4), (b)(6), (b)(8)). The applicability 
of these exemptions would need to be determined on a case-by-case 
basis.

    Board of Governors of the Federal Reserve System, July 18, 2017.
Margaret McCloskey Shanks,
Deputy Secretary of the Board.
[FR Doc. 2017-15401 Filed 7-21-17; 8:45 am]
 BILLING CODE 6210-01-P