82_FR_45474 82 FR 45287 - Formations of, Acquisitions by, and Mergers of Savings and Loan Holding Companies

82 FR 45287 - Formations of, Acquisitions by, and Mergers of Savings and Loan Holding Companies

FEDERAL RESERVE SYSTEM

Federal Register Volume 82, Issue 187 (September 28, 2017)

Page Range45287-45288
FR Document2017-20811

Federal Register, Volume 82 Issue 187 (Thursday, September 28, 2017) 
[Federal Register Volume 82, Number 187 (Thursday, September 28, 2017)]
[Notices]
[Pages 45287-45288]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2017-20811]


=======================================================================
-----------------------------------------------------------------------

FEDERAL RESERVE SYSTEM


Formations of, Acquisitions by, and Mergers of Savings and Loan 
Holding Companies

    The companies listed in this notice have applied to the Board for 
approval,

[[Page 45288]]

pursuant to the Home Owners' Loan Act (12 U.S.C. 1461 et seq.) (HOLA), 
Regulation LL (12 CFR part 238), and Regulation MM (12 CFR part 239), 
and all other applicable statutes and regulations to become a savings 
and loan holding company and/or to acquire the assets or the ownership 
of, control of, or the power to vote shares of a savings association 
and nonbanking companies owned by the savings and loan 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 application also will 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 HOLA (12 U.S.C. 1467a(e)). 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 10(c)(4)(B) of the HOLA (12 U.S.C. 1467a(c)(4)(B)). 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 October 23, 2017.
    A. Federal Reserve Bank of Cleveland (Nadine Wallman, Vice 
President) 1455 East Sixth Street, Cleveland, Ohio 44101-2566. Comments 
can also be sent electronically to [email protected]:
    1. First Mutual Holding Co., Lakewood, Ohio; to acquire Doolin 
Security Savings Bank, FSB, New Martinsville, West Virginia.

    Board of Governors of the Federal Reserve System, September 25, 
2017.
Yao-Chin Chao,
Assistant Secretary of the Board.
[FR Doc. 2017-20811 Filed 9-27-17; 8:45 am]
 BILLING CODE P

Federal Register / Vol. 82, No. 187 / Thursday, September 28, 2017 / Notices 45287 in the rule should take only 3 minutes Form Number: None. Burden Estimate: (0.05 hours) to complete. Affected Public: Insured state 2. Title: Flood Insurance. nonmember banks and state savings OMB Number: 3064–0120. associations. TABLE 1—BURDEN CALCULATION Share of Item Hours Share Hours Hours Total hours burden 1. Disclosure to the Borrower .................. 50% 0.50 90% 0.45 0.225 25,097 2. Disclosure to the Servicer ................... ........................ ........................ ........................ ........................ 0.225 25,097 3. Report to FEMA of a Change in Servicer ................................................ ........................ ........................ 10% 0.05 0.05 5,577 4. Recordkeeping (Bank keeps a copy of all notifications) ..................................... 50 0.50 ........................ 0.50 0.50 55,770 ........................ 1.0 ........................ 1.0 1.0 111,540 Respondents (FDIC supervised banks with real estate loans) ........................................................................................................... 3,718 Frequency (Average no. of real estate loans serviced w/flood ins) .................................................................................................... 30 Total burden ................................................................................................................................................................................. 111,540 Sources: FDIC, FEMA, Federal Reserve Board. General Description of Collection: multifamily; nonfarm, nonresidential, apportionment results in an average of Each supervised lending institution is and agricultural loans secured by real 121 policies per bank, and a median of currently required to provide a notice of estate. As of March 31, 2017, there were 30 policies per bank. Because the special flood hazards to each borrower 3,718 FDIC-regulated institutions with a average is skewed by the large number with a loan secured by a building or total value of about $1.19 trillion in of policies at large banks, we believe the mobile home located or to be located in these loans. Based on the foregoing, we median is a better measure for an area identified by the Director of the estimate that FDIC-regulated banks hold calculating burden hours. Federal Emergency Management Agency 27.9% of these assets. Our subject-matter experts (SMEs) for as being subject to special flood hazards. The Federal Reserve Board reported this rule believe that the total burden to The Riegle Community Development $14.41 trillion in mortgage debt the public for complying with this rule Act requires that each institution also outstanding in the U.S., with $4.63 is 1.0 hours per policy. We find four provide a copy of the notice to the trillion (32.4%) held by depository PRA related tasks in this rule: (1) servicer of the loan (if different from the institutions.4 Since this total debt held Disclosure to Borrowers, (2) Disclosure originating lender). by banks is close to the value of these to Servicers, (3) Reporting to FEMA of There is no change in the method or real estate loans from Call Report data, Changes in Coverage, and (4) substance of the collection. There is an we have confidence that we can meld Recordkeeping for tasks 1–3 above. We overall reduction in burden hours the data sets for estimation purposes. assume that Recordkeeping will which is the result of (1) economic We therefore assume that 32.4% of the comprise 1⁄2 hour, and the remaining 1⁄2 fluctuation reflected by a decrease in the value of flood insurance policies will be is split between the other tasks. We number of FDIC-supervised institutions held by U.S. commercial banks: $401 assume that 90% of policies will and (2) a decrease in the number of billion. involve a new origination, and 10% of flood insurance policies nationally. In In the absence of any data on the policies will involve a change in status. particular, the number of respondents number of real estate loans with flood With 3,718 respondents holding a and the frequency of response (number insurance at any bank, we resort to median of 30 policies and 1 hour of of loans) have decreased while the apportion 32.4% of the number of flood burden per policy, we calculate a total hours per response remain the same. insurance policies (1,614,801) to burden of 111,540 hours. This burden is Changes to Data and Assumptions: commercial banks, and 27.9% of those apportioned to each task as shown in FDIC estimates total annual burden to to FDIC-regulated institutions (451,177). Table 1 above. be 111,540 hours. To obtain this figure, Because the value of property varies FDIC relied on: (a) Data from the Federal greatly between different geographical Dated at Washington, DC, this 22nd day of Emergency Management Agency regions and different banks, it is September, 2017. Federal Deposit Insurance Corporation. (FEMA) as of May 2017; (b) FDIC Call doubtful that this estimation of the Report data as of March 31, 2017; and number of policies is accurate. Valerie J. Best, (c) Federal Reserve Board mortgage data However, there exists no other Assistant Executive Secretary. as of March 31, 2017. reasonable method for deriving the [FR Doc. 2017–20759 Filed 9–27–17; 8:45 am] FEMA reported there were 4,983,954 number of policies at each bank given BILLING CODE 6714–01–P flood insurance policies in effect with a available data. total insured value of Next, we apportioned the 451,177 $1,238,657,149,400.3 flood insurance policies to each FDIC- FEDERAL RESERVE SYSTEM FDIC Call Report data showed that as regulated institution according to its of March 31, 2017, there were a total of share of real estate loans to total real Formations of, Acquisitions by, and 5,790 FDIC-insured institutions with a estate loans. The resulting Mergers of Savings and Loan Holding total of $4.25 trillion in 1–4 family; Companies 4 https://www.federalreserve.gov/econresdata/ 3 https://www.fema.gov/flood-insurance-statistics- releases/mortoutstand/mortoutstand20170331.htm The companies listed in this notice current-month (accessed June 15, 2017). (accessed June 15, 2017). have applied to the Board for approval, VerDate Sep<11>2014 18:44 Sep 27, 2017 Jkt 241001 PO 00000 Frm 00032 Fmt 4703 Sfmt 4703 E:\FR\FM\28SEN1.SGM 28SEN1

45288 Federal Register / Vol. 82, No. 187 / Thursday, September 28, 2017 / Notices pursuant to the Home Owners’ Loan Act three years the current Paperwork the methodology and assumptions used; (12 U.S.C. 1461 et seq.) (HOLA), Reduction Act (‘‘PRA’’) clearance for (3) ways to enhance the quality, utility, Regulation LL (12 CFR part 238), and information collection requirements and clarity of the information to be Regulation MM (12 CFR part 239), and contained in the Commission’s Business collected; and (4) ways to minimize the all other applicable statutes and Opportunity Rule (‘‘Rule’’). That burden of the collection of information regulations to become a savings and clearance expires on January 31, 2018. on those who are to respond, including loan holding company and/or to acquire DATES: Comments must be submitted by through the use of appropriate the assets or the ownership of, control November 27, 2017. automated, electronic, mechanical, or of, or the power to vote shares of a ADDRESSES: Interested parties may file a other technological collection savings association and nonbanking comment online or on paper, by techniques or other forms of information companies owned by the savings and following the instructions in the technology, e.g., permitting electronic loan holding company, including the Request for Comment part of the submission of responses. companies listed below. SUPPLEMENTARY INFORMATION section The Business Opportunity Rule The applications listed below, as well below. Write ‘‘Business Opportunity requires business opportunity sellers to as other related filings required by the Rule Paperwork Comment, FTC File No. furnish to prospective purchasers a Board, are available for immediate P114408’’ on your comment, and file disclosure document that provides inspection at the Federal Reserve Bank your comment online at https:// information relating to the seller, the indicated. The application also will be ftcpublic.commentworks.com/ftc/ seller’s business, the nature of the available for inspection at the offices of BusinessOpportunityRulePRA by proposed business opportunity, as well the Board of Governors. Interested following the instructions on the web- as additional information regarding any persons may express their views in based form. If you prefer to file your claims about actual or potential sales, writing on the standards enumerated in comment on paper, mail your comment income, or profits for a prospective the HOLA (12 U.S.C. 1467a(e)). If the to the following address: Federal Trade business opportunity purchaser. The proposal also involves the acquisition of Commission, Office of the Secretary, seller must also preserve information a nonbanking company, the review also 600 Pennsylvania Avenue NW., Suite that forms a reasonable basis for such includes whether the acquisition of the CC–5610 (Annex J), Washington, DC claims. These disclosure and nonbanking company complies with the 20580, or deliver your comment to the recordkeeping requirements are subject standards in section 10(c)(4)(B) of the following address: Federal Trade to the PRA. HOLA (12 U.S.C. 1467a(c)(4)(B)). Unless Commission, Office of the Secretary, The Rule is designed to ensure that otherwise noted, nonbanking activities Constitution Center, 400 7th Street SW., prospective purchasers of a business will be conducted throughout the 5th Floor, Suite 5610, Washington, DC opportunity receive information that United States. 20024. will help them evaluate the opportunity Unless otherwise noted, comments FOR FURTHER INFORMATION CONTACT: that is presented to them. Sellers must regarding each of these applications Requests for additional information disclose five key items of information in must be received at the Reserve Bank should be addressed to Christine M. a simple, one-page document: indicated or the offices of the Board of Governors not later than October 23, Todaro, Attorney, Division of Marketing • The seller’s identifying information; Practices, Bureau of Consumer • whether the seller makes a claim 2017. Protection, Federal Trade Commission, A. Federal Reserve Bank of Cleveland about the purchaser’s likely earnings 600 Pennsylvania Avenue NW., CC– (and, if the seller checks the ‘‘yes’’ box, (Nadine Wallman, Vice President) 1455 8528, Washington, DC 20580, (202) 326– the seller must provide information East Sixth Street, Cleveland, Ohio 3711. supporting any such claims); 44101–2566. Comments can also be sent SUPPLEMENTARY INFORMATION: Under the • whether the seller, its affiliates or electronically to Comments.applications@clev.frb.org: PRA, 44 U.S.C. 3501–3521, federal key personnel have been involved in 1. First Mutual Holding Co., agencies must obtain approval from certain legal actions (and, if yes, the Lakewood, Ohio; to acquire Doolin OMB for each collection of information seller must provide a separate list of Security Savings Bank, FSB, New they conduct or sponsor. ‘‘Collection of those actions); information’’ means agency requests or Martinsville, West Virginia. • whether the seller has a requirements that members of the public Board of Governors of the Federal Reserve cancellation or refund policy (and, if submit reports, keep records, or provide System, September 25, 2017. yes, the seller must provide a separate information to a third party. 44 U.S.C. Yao-Chin Chao, document stating the material terms of 3502(3); 5 CFR 1320.3(c). As required by Assistant Secretary of the Board. such policies); and section 3506(c)(2)(A) of the PRA, the [FR Doc. 2017–20811 Filed 9–27–17; 8:45 am] FTC is providing this opportunity for • a list of persons who bought the BILLING CODE P public comment before requesting that business opportunity within the OMB extend the existing clearance for previous three years. the information collection requirements Misrepresentations and omissions are FEDERAL TRADE COMMISSION contained in the Business Opportunity prohibited under the Rule, and for sales Rule, 16 CFR part 437 (OMB Control conducted in languages other than Agency Information Collection Number 3084–0142). English, all disclosures must be Activities; Proposed Collection; The FTC invites comments on: (1) provided in the language in which the Comment Request Whether the proposed collection of sale is conducted. AGENCY: Federal Trade Commission information is necessary for the proper PRA Burden Analysis (‘‘FTC’’ or ‘‘Commission’’). performance of the functions of the agency, including whether the Subject to public comment to shed ACTION: Notice. information will have practical utility; further light, the FTC retains its SUMMARY: The FTC intends to ask the (2) the accuracy of the agency’s estimate respondent population estimates from Office of Management and Budget of the burden of the proposed collection its prior OMB clearance for the (‘‘OMB’’) to extend for an additional of information, including the validity of information collection requirements VerDate Sep<11>2014 18:44 Sep 27, 2017 Jkt 241001 PO 00000 Frm 00033 Fmt 4703 Sfmt 4703 E:\FR\FM\28SEN1.SGM 28SEN1


Document Created: 2017-09-28 01:33:07
Document Modified: 2017-09-28 01:33:07
CategoryRegulatory Information
CollectionFederal Register
sudoc ClassAE 2.7:
GS 4.107:
AE 2.106:
PublisherOffice of the Federal Register, National Archives and Records Administration
SectionNotices
FR Citation82 FR 45287 
2025 Federal Register | Disclaimer | Privacy Policy
USC | CFR | eCFR