82_FR_56066 82 FR 55841 - Proposed Guidance on Supervisory Expectations for Boards of Directors

82 FR 55841 - Proposed Guidance on Supervisory Expectations for Boards of Directors

FEDERAL RESERVE SYSTEM

Federal Register Volume 82, Issue 225 (November 24, 2017)

Page Range55841-55842
FR Document2017-25372

On August 9, 2017, the Board published in the Federal Register proposed guidance on supervisory expectations for boards of directors. To facilitate effective public comment on the proposal, the Board previously extended the comment period from October 10, 2017, to November 30, 2017. The Board has determined that an additional extension of the comment period until February 15, 2018, is appropriate. This action will allow interested persons additional time to analyze the proposal and prepare their comments.

Federal Register, Volume 82 Issue 225 (Friday, November 24, 2017) 
[Federal Register Volume 82, Number 225 (Friday, November 24, 2017)]
[Notices]
[Pages 55841-55842]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2017-25372]


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FEDERAL RESERVE SYSTEM

[Docket No. OP-1570]


Proposed Guidance on Supervisory Expectations for Boards of 
Directors

AGENCY: Board of Governors of the Federal Reserve System (Board).

ACTION: Notice; extension of comment period.

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SUMMARY: On August 9, 2017, the Board published in the Federal Register 
proposed guidance on supervisory expectations for boards of directors. 
To facilitate effective public comment on the proposal, the Board 
previously extended the comment period from October 10, 2017, to 
November 30, 2017. The Board has determined that an additional 
extension of the comment period until February 15, 2018, is 
appropriate. This action will allow interested persons additional time 
to analyze the proposal and prepare their comments.

DATES: Comments on the proposal must be received on or before February 
15, 2018.

ADDRESSES: You may submit comments by any of the methods identified in 
the proposal. Please submit your comments using only one method.

FOR FURTHER INFORMATION CONTACT: Michael Hsu, Associate Director, (202) 
912-4330, Michael Solomon, Associate Director, (202) 452-3502, Richard 
Naylor, Associate Director, (202) 728-5854, Division of Supervision and 
Regulation; Ben McDonough, Assistant General Counsel, (202) 452-2036, 
Scott Tkacz, Senior Counsel, (202) 452-2744, Keisha Patrick, Senior 
Counsel, (202) 452-3559, or Chris Callanan, Senior Attorney, (202) 452-
3594, Legal Division, Board of Governors of the Federal Reserve System, 
20th and C Streets NW., Washington, DC 20551. For the hearing impaired 
only, Telecommunications Device for the Deaf (TDD) users may contact 
(202) 263-4869.

SUPPLEMENTARY INFORMATION: On August 9, 2017, the Board published in 
the Federal Register proposed guidance \1\ on supervisory expectations 
for boards of directors of firms supervised by the Federal Reserve. The 
proposal addresses supervisory expectations for boards of directors of 
bank holding companies, savings and loan holding companies, state 
member banks, U.S. branches and agencies of foreign banking 
organizations, and systemically important nonbank financial companies 
designated by the Financial Stability Oversight Council for supervision 
by the Federal Reserve. For the largest domestic bank and savings and 
loan holding companies and systemically important nonbank financial 
companies, the proposal would establish attributes of effective boards 
centered on the board's core responsibilities, which support safety and 
soundness, and would provide the framework with which the Federal 
Reserve would evaluate the effectiveness of a firm's boards of 
directors. For all domestic bank and savings and loan holding 
companies, certain existing Federal Reserve Supervision and Regulation 
letters containing supervisory expectations for boards of directors 
would be revised or eliminated to more clearly distinguish a board's 
roles and responsibilities from those of senior management and allow 
boards to focus

[[Page 55842]]

more of their time and resources on fulfilling their core 
responsibilities. The proposal stated that the comment period would 
close on October 10, 2017, which the Board previously extended to 
November 30, 2017.\2\
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    \1\ See ``Proposed Guidance on Supervisory Expectation for 
Boards of Directors,'' 82 FR 37219 (August 9, 2017).
    \2\ See ``Proposed Guidance on Supervisory Expectation for 
Boards of Directors,'' 82 FR 47206 (October 11, 2017).
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    An additional extension of the comment period will provide an 
opportunity for the public to understand the proposed division of 
responsibilities between the board, senior management, and business 
line management and comment on the provisions of the proposal and the 
questions posed by the Board. Therefore, the Board is extending the end 
of the comment period for the proposal from November 30, 2017, to 
February 15, 2018.

    By order of the Board of Governors of the Federal Reserve 
System, acting through the Secretary of the Board under delegated 
authority, ovember 17, 2017.
Ann E. Misback,
Secretary of the Board.
[FR Doc. 2017-25372 Filed 11-22-17; 8:45 am]
 BILLING CODE P

Federal Register / Vol. 82, No. 225 / Friday, November 24, 2017 / Notices 55841 Federal Communications Commission. § 225.41 of the Board’s Regulation Y (12 analyze the proposal and prepare their Marlene H. Dortch, CFR 225.41) to acquire shares of a bank comments. Secretary, Office of the Secretary. or bank holding company. The factors DATES: Comments on the proposal must [FR Doc. 2017–25411 Filed 11–22–17; 8:45 am] that are considered in acting on the be received on or before February 15, BILLING CODE 6712–01–P notices are set forth in paragraph 7 of 2018. the Act (12 U.S.C. 1817(j)(7)). ADDRESSES: You may submit comments The notices are available for by any of the methods identified in the immediate inspection at the Federal proposal. Please submit your comments FEDERAL DEPOSIT INSURANCE Reserve Bank indicated. The notices CORPORATION using only one method. also will be available for inspection at FOR FURTHER INFORMATION CONTACT: Notice to All Interested Parties of the offices of the Board of Governors. Michael Hsu, Associate Director, (202) Intent To Terminate the Receivership Interested persons may express their 912–4330, Michael Solomon, Associate of 10337, Community First Bank— views in writing to the Reserve Bank Director, (202) 452–3502, Richard Chicago indicated for that notice or to the offices Naylor, Associate Director, (202) 728– of the Board of Governors. Comments 5854, Division of Supervision and Notice is hereby given that the Federal must be received not later than Regulation; Ben McDonough, Assistant Deposit Insurance Corporation (FDIC or December 7, 2017. General Counsel, (202) 452–2036, Scott Receiver) as Receiver for Community A. Federal Reserve Bank of Dallas Tkacz, Senior Counsel, (202) 452–2744, First Bank—Chicago, Chicago, Illinois, (Robert L. Triplett III, Senior Vice Keisha Patrick, Senior Counsel, (202) intends to terminate its receivership for President) 2200 North Pearl Street, 452–3559, or Chris Callanan, Senior said institution. The FDIC was Dallas, Texas 75201–2272: Attorney, (202) 452–3594, Legal appointed Receiver of Community First 1. J. Edgerton Pierson, Jr. and the Jim Division, Board of Governors of the Bank—Chicago on February 4, 2011. Pierson Revocable Grantor Trust, both Federal Reserve System, 20th and C The liquidation of the receivership of Shreveport, Louisiana; to retain Streets NW., Washington, DC 20551. For assets has been completed. To the extent voting shares of City Bancshares, Inc., the hearing impaired only, permitted by available funds and in Natchitoches, Louisiana; and Virginia T. Telecommunications Device for the Deaf accordance with law, the Receiver will Pierson, Mary Lou Pierson Brown, (TDD) users may contact (202) 263– be making a final dividend payment to Phillip G. Brown, each of Natchitoches, 4869. proven creditors. Louisiana, Patricia Pierson McAlpine, Based upon the foregoing, the Kingwood, Texas, and J. Edgerton SUPPLEMENTARY INFORMATION: On August Receiver has determined that the Pierson, Jr.; as a group acting in concert 9, 2017, the Board published in the continued existence of the receivership to collectively retain voting shares of Federal Register proposed guidance 1 on will serve no useful purpose. City Bancshares, Inc., Natchitoches, supervisory expectations for boards of Consequently, notice is given that the Louisiana and thereby, indirectly retain directors of firms supervised by the receivership shall be terminated, to be shares of City Bank & Trust Company, Federal Reserve. The proposal addresses effective no sooner than thirty days after Natchitoches, Louisiana. supervisory expectations for boards of the date of this notice. If any person directors of bank holding companies, Board of Governors of the Federal Reserve savings and loan holding companies, wishes to comment concerning the System, November 17, 2017. termination of the receivership, such state member banks, U.S. branches and Ann E. Misback, agencies of foreign banking comment must be made in writing and Secretary of the Board. organizations, and systemically sent within thirty days of the date of [FR Doc. 2017–25338 Filed 11–22–17; 8:45 am] important nonbank financial companies this notice to: Federal Deposit Insurance Corporation, Division of Resolutions BILLING CODE P designated by the Financial Stability and Receiverships, Attention: Oversight Council for supervision by the Receivership Oversight Department Federal Reserve. For the largest FEDERAL RESERVE SYSTEM domestic bank and savings and loan 34.6, 1601 Bryan Street, Dallas, TX 75201. [Docket No. OP–1570] holding companies and systemically No comments concerning the important nonbank financial companies, termination of this receivership will be Proposed Guidance on Supervisory the proposal would establish attributes considered which are not sent within Expectations for Boards of Directors of effective boards centered on the this time frame. board’s core responsibilities, which AGENCY: Board of Governors of the support safety and soundness, and Dated: November 16, 2017. Federal Reserve System (Board). would provide the framework with Robert E. Feldman, ACTION: Notice; extension of comment which the Federal Reserve would Executive Secretary, Federal Deposit period. evaluate the effectiveness of a firm’s Insurance Corporation. boards of directors. For all domestic [FR Doc. 2017–25210 Filed 11–22–17; 8:45 am] SUMMARY: On August 9, 2017, the Board bank and savings and loan holding BILLING CODE 6714–01–P published in the Federal Register companies, certain existing Federal proposed guidance on supervisory Reserve Supervision and Regulation expectations for boards of directors. To letters containing supervisory facilitate effective public comment on expectations for boards of directors FEDERAL RESERVE SYSTEM the proposal, the Board previously sradovich on DSK3GMQ082PROD with NOTICES would be revised or eliminated to more Change in Bank Control Notices; extended the comment period from clearly distinguish a board’s roles and Acquisitions of Shares of a Bank or October 10, 2017, to November 30, 2017. responsibilities from those of senior Bank Holding Company The Board has determined that an management and allow boards to focus additional extension of the comment The notificants listed below have period until February 15, 2018, is 1 See ‘‘Proposed Guidance on Supervisory applied under the Change in Bank appropriate. This action will allow Expectation for Boards of Directors,’’ 82 FR 37219 Control Act (12 U.S.C. 1817(j)) and interested persons additional time to (August 9, 2017). VerDate Sep<11>2014 18:19 Nov 22, 2017 Jkt 244001 PO 00000 Frm 00043 Fmt 4703 Sfmt 4703 E:\FR\FM\24NON1.SGM 24NON1

55842 Federal Register / Vol. 82, No. 225 / Friday, November 24, 2017 / Notices more of their time and resources on 9000–0155, Prohibition of Acquisition requirements delineated at FAR 52.212– fulfilling their core responsibilities. The of Products Produced by Forced or 3 paragraph (i), and 52.222–18. proposal stated that the comment period Indentured Child Labor, by any of the DoD, GSA and NASA analyzed the FY would close on October 10, 2017, which following methods: 2017 data from the System for Award the Board previously extended to • Regulations.gov: http:// Management (SAM) to develop the November 30, 2017.2 www.regulations.gov. Submit comments estimated burden hours for this An additional extension of the via the Federal eRulemaking portal by information collection. comment period will provide an searching the OMB control number opportunity for the public to understand B. Annual Reporting Burden 9000–0155. Select the link ‘‘Comment the proposed division of responsibilities Now’’ that corresponds with Respondents: 1,104. between the board, senior management, ‘‘Information Collection 9000–0155, Responses per Respondent: 1. and business line management and Prohibition of Acquisition of Products Total Annual Responses: 1,104. comment on the provisions of the Produced by Forced or Indentured Child Hours per Response: 0.18. proposal and the questions posed by the Labor’’. Follow the instructions Total Burden Hours: 198. Board. Therefore, the Board is extending provided on the screen. Please include C. Public Comments the end of the comment period for the your name, company name (if any), and proposal from November 30, 2017, to ‘‘Information Collection 9000–0155, Public comments are particularly February 15, 2018. Prohibition of Acquisition of Products invited on: Whether the proposed Produced by Forced or Indentured Child collection of information is necessary By order of the Board of Governors of the Federal Reserve System, acting through the Labor’’ on your attached document. for the proper performance of the Secretary of the Board under delegated • Mail: General Services functions of the FAR, including whether authority, ovember 17, 2017. Administration, Regulatory Secretariat the information will have practical Ann E. Misback, Division (MVCB), 1800 F Street NW., utility; the accuracy of the estimate of Secretary of the Board. Washington, DC 20405. ATTN: Mr. Poe/ the burden of the information [FR Doc. 2017–25372 Filed 11–22–17; 8:45 am] IC 9000–0155, Prohibition of collection; ways to enhance the quality, Acquisition of Products Produced by utility, and clarity of the information to BILLING CODE P Forced or Indentured Child Labor. be collected; and ways to minimize the Instructions: Please submit comments burden of the information collection on only and cite Information Collection respondents, including the use of DEPARTMENT OF DEFENSE automated collection techniques or 9000–0155, Prohibition of Acquisition GENERAL SERVICES of Products Produced by Forced or other forms of information technology. ADMINISTRATION Indentured Child Labor, in all Obtaining Copies of Proposals: correspondence related to this Requesters may obtain a copy of the NATIONAL AERONAUTICS AND collection. All comments received will information collection documents from SPACE ADMINISTRATION be posted without change to http:// the General Services Administration, www.regulations.gov, including any Regulatory Secretariat Division (MVCB), [OMB Control No. 9000–0155; Docket 2017– 1800 F Street NW., Washington, DC 0053; Sequence 18] personal and/or business confidential information provided. 20405. Please cite OMB Control No. 9000–0155, Prohibition of Acquisition Information Collection; Prohibition of FOR FURTHER INFORMATION CONTACT: Ms. of Products Produced by Forced or Acquisition of Products Produced by Zenaida Delgado, Procurement Analyst, Indentured Child Labor, in all Forced or Indentured Child Labor Acquisition Policy Division, GSA, at correspondence. 202–969–7207, or email AGENCY: Department of Defense (DOD), Dated: November 20, 2017. zenaida.delgado@gsa.gov. General Services Administration (GSA), Lorin S. Curit, and National Aeronautics and Space SUPPLEMENTARY INFORMATION: Director, Federal Acquisition Policy Division, Administration (NASA). A. Purpose Office of Government-wide Acquisition ACTION: Notice of request for public Policy, Office of Acquisition Policy, Office This information collection complies comments regarding an extension to an with Executive Order 13126, Prohibition of Government-wide Policy. existing OMB clearance. of Acquisition of Products Produced by [FR Doc. 2017–25429 Filed 11–22–17; 8:45 am] SUMMARY: Under the provisions of the Forced or Indentured Child Labor. BILLING CODE 6820–EP–P Paperwork Reduction Act, the Executive Order 13126 requires that this Regulatory Secretariat Division (MVCB) prohibition be enforced within the will be submitting to the Office of Federal acquisition system, including a DEPARTMENT OF HEALTH AND Management and Budget (OMB) a provision that requires the contractor to HUMAN SERVICES request to review and approve an certify to the contracting officer that the contractor or, in the case of an Centers for Disease Control and extension of a previously approved incorporated contractor, a responsible Prevention information collection requirement regarding prohibition of acquisition of official of the contractor, has made a Board of Scientific Counselors, Office products produced by forced or good faith effort to determine whether of Public Health Preparedness and indentured child labor. forced or indentured child labor was Response (BSC, OPHPR) used to mine, produce, or manufacture sradovich on DSK3GMQ082PROD with NOTICES DATES: Submit comments on or before January 23, 2018. any product furnished under the AGENCY: Centers for Disease Control and ADDRESSES: Submit comments contract and that, on the basis of those Prevention (CDC), Department of Health identified by Information Collection efforts, the contractor is unaware of any and Human Services (HHS). such use of child labor. ACTION: Notice of charter renewal. 2 See ‘‘Proposed Guidance on Supervisory The information collection Expectation for Boards of Directors,’’ 82 FR 47206 requirements of the Executive Order are SUMMARY: This gives notice under the (October 11, 2017). evidenced via the certification Federal Advisory Committee Act of VerDate Sep<11>2014 18:19 Nov 22, 2017 Jkt 244001 PO 00000 Frm 00044 Fmt 4703 Sfmt 4703 E:\FR\FM\24NON1.SGM 24NON1


Document Created: 2017-11-22 23:34:00
Document Modified: 2017-11-22 23:34:00
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
ActionNotice; extension of comment period.
DatesComments on the proposal must be received on or before February 15, 2018.
ContactMichael Hsu, Associate Director, (202) 912-4330, Michael Solomon, Associate Director, (202) 452-3502, Richard Naylor, Associate Director, (202) 728-5854, Division of Supervision and Regulation; Ben McDonough, Assistant General Counsel, (202) 452-2036, Scott Tkacz, Senior Counsel, (202) 452-2744, Keisha Patrick, Senior Counsel, (202) 452-3559, or Chris Callanan, Senior Attorney, (202) 452- 3594, Legal Division, Board of Governors of the Federal Reserve System, 20th and C Streets NW., Washington, DC 20551. For the hearing impaired only, Telecommunications Device for the Deaf (TDD) users may contact (202) 263-4869.
FR Citation82 FR 55841 
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