83 FR 11521 - Agency Information Collection Activities: Announcement of Board Approval Under Delegated Authority and Submission to OMB
FEDERAL RESERVE SYSTEM Federal Register Volume 83, Issue 51 (March 15, 2018)
Federal Register Volume 83, Issue 51 (March 15, 2018)
| Page Range | 11521-11523 | |
| FR Document | 2018-05255 |
[Federal Register Volume 83, Number 51 (Thursday, March 15, 2018)] [Notices] [Pages 11521-11523] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2018-05255] ----------------------------------------------------------------------- FEDERAL RESERVE SYSTEM Agency Information Collection Activities: Announcement of Board Approval Under Delegated Authority and Submission to OMB AGENCY: Board of Governors of the Federal Reserve System. SUMMARY: The Board of Governors of the Federal Reserve System (Board) is adopting a proposal to extend for three years, with revision, the Interagency Notice of Change in Control (FR 2081a; OMB No. 7100-0134), Interagency Notice of Change in Director or Senior Executive Officer (FR 2081b; OMB No. 7100-0134), Interagency Biographical and Financial Report (FR 2081c; OMB 7100-0134), and the Interagency Bank Merger Act Application (FR 2070; OMB No. 7100-0171). FOR FURTHER INFORMATION CONTACT: 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. 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. SUPPLEMENTARY INFORMATION: 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. 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 control number. Board-approved collections of information are incorporated into the official OMB inventory of currently approved collections of information. Copies of the Paperwork Reduction Act Submission, supporting statements and approved collection of information instrument(s) are placed into OMB's public docket files. These documents will also be made available on the Federal Reserve Board's public website at: http://www.federalreserve.gov/apps/reportforms/review.aspx or may be requested from the agency clearance officer. Final Approval Under OMB Delegated Authority of the Extension for Three Years, With Revision, of the Following Reports Report title: Interagency Notice of Change in Control. Agency form number: FR 2081a. OMB control number: 7100-0134. Frequency: On occasion. Respondents: An individual (or a group of individuals or company or group of companies that would not be bank holding companies (BHCs) or savings and loan holding companies (SLHCs) after consummation of the proposed transaction) seeking to acquire shares of an insured depository institution, SLHC, or BHC (or group of BHCs or SLHCs). Estimated number of respondents: 156. Estimated average hours per response: 30.5. [[Page 11522]] Estimated annual burden hours: 4,758. Report title: Interagency Notice of Change in Director or Senior Executive Officer. Agency form number: FR 2081b. OMB control number: 7100-0134. Frequency: On occasion. Respondents: Insured depository institutions, SLHCs, BHCs, and individuals. Estimated number of respondents: 287. Estimated average hours per response: 2. Estimated annual burden hours: 574. Report title: Interagency Biographical and Financial Report. Agency form number: FR 2081c. OMB control number: 7100-0134. Frequency: On occasion. Respondents: Certain shareholders, directors, and executive officers of financial institutions. Estimated number of respondents: 1,512. Estimated average hours per response: 4.5. Estimated annual burden hours: 6,804. Report title: Interagency Bank Merger Act Application. Agency form number: FR 2070. OMB control number: 7100-0171. Frequency: On occasion. Respondents: State member banks. Estimated number of respondents: Non-affiliate, 54; Affiliate, 10. Estimated average hours per response: Non-affiliate, 31; Affiliate, 19. Estimated annual burden hours: 1,864. General description of reports: The Interagency Notice of Change in Control form is used by an individual (or a group of individuals or a company or group of companies that would not be BHCs or SLHCs after consummation of the proposed transaction) seeking to acquire shares of a state member bank, SLHC or a BHC (or group of BHCs or SLHCs). The notice is submitted to the Board. The notice includes a description of the proposed transaction, the purchase price and funding source, and the personal and financial information of the proposed acquirer(s) and any proposed new management. The Interagency Notice of Change in Director or Senior Executive Officer form is used, under certain circumstances, by a state member bank, BHC, SLHC, or the affected individual to notify the Board of a proposed change in the institution's board of directors or senior executive officers. The notice must be filed only if the state member bank, SLHC, or BHC is not in compliance with all minimum capital requirements, is in troubled condition or, is otherwise required by the Board to provide such notice. The Interagency Biographical and Financial Report is used by certain shareholders, directors, and executive officers, in connection with different types of applications filed with the agencies. Information requested on this reporting form is subject to verification and, as with all required information, must be complete. The Interagency Bank Merger Act Application is an event-generated application and is completed by a state member bank each time the bank requests approval to effect a merger, consolidation, assumption of deposit liabilities, other combining transaction with a nonaffiliated party, or a corporate reorganization with an affiliated party. The form collects information on the basic legal and structural aspects of these transactions. Legal authorization and confidentiality: Section 7(j) of the Federal Deposit Insurance Act (12 U.S.C. 1817(j)) authorizes the Board to require the information under the FR 2081a and FR 2081c. Section 914 of the Financial Institutions Reform, Recovery, and Enforcement Act (12 U.S.C. 1831(i)) authorizes the Board to collect the information in the FR 2081b and FR 2081c. The notices and reporting forms are public documents. Any organization or individual that submits a form may request that all or a portion of the submitted information be kept confidential. In such cases, the filer must justify the exemption by demonstrating that disclosure would cause substantial competitive harm, result in an unwarranted invasion of personal privacy, or would otherwise qualify for an exemption under the Freedom of Information Act (5 U.S.C. 552). The confidentiality status of the information submitted is judged on a case-by-case basis. Because information is being collected from individuals, the Board is required to make certain disclosures to the notificant under the Privacy Act (5 U.S.C. 552a(e)(3)). The disclosures made by the Federal Reserve on the FR 2081 meet the requirements of the Privacy Act. The Bank Merger Act (BMA), 12 U.S.C. 1828(c), authorizes the Board to collect the information in the FR 2070. The BMA requires, in relevant part, that a state member bank, when it is the acquiring, assuming or resulting bank, obtain prior approval from the Board before merging or consolidating with another insured depository institution, or before acquiring the assets of or assuming liability to deposits made in any other insured depository institution. The Interagency Bank Merger Act Application is a public document. However, applicants may request that parts of their applications be kept confidential. In such cases, the filer must justify the exemption by demonstrating that disclosure would cause substantial competitive harm, would result in an unwarranted invasion of personal privacy, or would otherwise qualify for an exemption under the Freedom of Information Act (5 U.S.C. 552). The confidentiality status of the information submitted is judged on a case-by-case basis. Effective Date: All revisions would become effective upon FDIC and OCC receiving OMB approval of their comparable reports. Current actions: On October 2, 2017, the Board published a notice in the Federal Register (82 FR 45847) requesting public comment for 60 days on the extension, with revision, of the Interagency Notice of Change in Control (FR 2081a; OMB No. 7100-0134), Interagency Notice of Change in Director or Senior Executive Officer (FR 2081b; OMB No. 7100- 0134), Interagency Biographical and Financial Report (FR 2081c; OMB 7100-0134), and the Interagency Bank Merger Act Application (FR 2070; OMB No. 7100-0171). The Board proposed to revise the FR 2070, 2081a, FR 2081b, and FR 2081c to improve the clarity of the information requests, delete information requests that are not typically useful for the analysis of the proposal, and increase transparency. The draft final forms would include certain new information requests. These new requests relate to information that is customarily requested during the application review process but not reflected on the current forms. Requesting this information at the beginning of the review, through the forms, should increase the efficiency of the applications process and improve transparency. For example, the draft final FR 2070 would require a description of any contract deadlines and any filings with other state and federal regulators; the draft final FR 2081a would require a narrative description of the proposal and information regarding the expected timing of the proposal; the draft final FR 2081c would require a description of any liability that is contractually delinquent; and the draft final FR 2081a and FR 2081b would both require a description of whether the submission is being filed after-the-fact and whether any exemptions apply. [[Page 11523]] In addition, each of the draft final forms has been revised to remove information that is no longer relevant. For example, the draft final FR 2070 would no longer require a description of goodwill amortization and purchase discount accretion schedules because of accounting rule changes; the draft final FR 2081a would no longer require a description of current book value per share because that information can be calculated using other available information; and the draft final FR 2081c would remove the requirement to provide a fax number. The comment period for this notice expired on December 1, 2017. The Board did not receive any comments. The revisions will be implemented as proposed. Consultation With the Federal Deposit Insurance Corporation (FDIC) and Office of the Comptroller of the Currency (OCC) Representatives from the Board worked together with representatives from the FDIC and OCC to draft revisions to the Interagency Notice of Change in Control, Interagency Notice of Change in Director or Senior Executive Officer, Interagency Biographical and Financial Report, Interagency Bank Merger Act because each of the agencies uses the forms for information collection. The agencies collaborated to determine whether the forms should be modified. They reviewed the forms in consideration of current law and applications processing procedures and practices. Board of Governors of the Federal Reserve System, March 12, 2018. Ann E. Misback, Secretary of the Board. [FR Doc. 2018-05255 Filed 3-14-18; 8:45 am] BILLING CODE 6210-01-P
![Federal Register / Vol. 83, No. 51 / Thursday, March 15, 2018 / Notices 11521
including through the use of automated the general credit situation of the the Chief Data Officer, Board of
collection techniques or other forms of country (12 U.S.C. 263). The Board and Governors of the Federal Reserve
information technology; and the FOMC use the information obtained System, Washington, DC 20551, (202)
e. Estimates of capital or startup costs from the FR 3059 to help fulfill these 452–3829. Telecommunications Device
and costs of operation, maintenance, obligations. The FR 3059 is a voluntary for the Deaf (TDD) users may contact
and purchase of services to provide survey. The information collected on (202) 263–4869, Board of Governors of
information. the FR 3059 is exempt from disclosure the Federal Reserve System,
At the end of the comment period, the in identifiable form under exemption 6 Washington, DC 20551.
comments and recommendations of the Freedom of Information Act, OMB Desk Officer—Shagufta
received will be analyzed to determine which protects information that the Ahmed—Office of Information and
the extent to which the Federal Reserve disclosure of which would constitute an Regulatory Affairs, Office of
should modify the proposal prior to unwarranted invasion of personal Management and Budget, New
giving final approval. privacy of individuals involved (5 Executive Office Building, Room 10235,
U.S.C. 552(b)(6)). 725 17th Street NW, Washington, DC
Proposal To Approve Under OMB Consultation outside the agency: The 20503 or by fax to (202) 395–6974.
Delegated Authority the Extension for final survey questionnaire would be SUPPLEMENTARY INFORMATION: On June
Three Years, Without Revision, of the developed jointly by the Board and the 15, 1984, the Office of Management and
Following Report(s) contractor. The contractor would Budget (OMB) delegated to the Board
Report title: 2019 Survey of Consumer conduct the interviews for this survey. authority under the Paperwork
Finances (SCF). The data to support the part of the Reduction Act (PRA) to approve and
Agency form number: FR 3059. survey sample selected by the Board assign OMB control numbers to
OMB control number: 7100–0287. would be provided by the Statistics of collection of information requests and
Frequency: One-time survey. Income Division (SOI) of the Internal requirements conducted or sponsored
Respondents: U.S. families. Revenue Service under a contract that by the Board. The Federal Reserve may
Estimated number of respondents: allows this use of the data as well as not conduct or sponsor, and the
Pretest, 150; and Main survey, 7,000. other more limited uses of the data for respondent is not required to respond
Estimated average hours per response: statistical adjustments to the final data to, an information collection that has
Pretest, 90 minutes; and Main survey, and related purposes. As in past SCFs, been extended, revised, or implemented
90 minutes. the sample selection and survey
Estimated annual burden hours: on or after October 1, 1995, unless it
administration would be managed so displays a currently valid OMB control
Pretest: 225 hours and Main survey: that the Board would not be given any
10,500 hours. number. Board-approved collections of
names of survey participants; SOI information are incorporated into the
General description of report: This would not be given data to link survey
would be the thirteenth triennial SCF official OMB inventory of currently
responses with tax records; and the approved collections of information.
since 1983, the beginning of the current contractor would not be given income
series. This survey is the only source of Copies of the Paperwork Reduction Act
data derived from the tax returns. Submission, supporting statements and
representative information on the
structure of U.S. families’ finances. The Board of Governors of the Federal Reserve approved collection of information
System, March 12, 2018. instrument(s) are placed into OMB’s
survey would collect data on the assets,
debts, income, work history, pension Ann E. Misback, public docket files. These documents
rights, use of financial services, and Secretary of the Board. will also be made available on the
attitudes of a sample of U.S. families. [FR Doc. 2018–05266 Filed 3–14–18; 8:45 am] Federal Reserve Board’s public website
Because the ownership of some assets is BILLING CODE 6210–01–P at: http://www.federalreserve.gov/apps/
relatively concentrated in a small reportforms/review.aspx or may be
number of families, the survey would requested from the agency clearance
make a special effort to ensure proper FEDERAL RESERVE SYSTEM officer.
representation of such assets by Agency Information Collection Final Approval Under OMB Delegated
systematically oversampling wealthier Activities: Announcement of Board Authority of the Extension for Three
families. Approval Under Delegated Authority Years, With Revision, of the Following
Legal authorization and and Submission to OMB Reports
confidentiality: Section 2A of the
Report title: Interagency Notice of
Federal Reserve Act (FRA) requires that AGENCY: Board of Governors of the
Change in Control.
the Board and the Federal Open Market Federal Reserve System. Agency form number: FR 2081a.
Committee (FOMC) maintain long run SUMMARY: The Board of Governors of the
OMB control number: 7100–0134.
growth of the monetary and credit Federal Reserve System (Board) is Frequency: On occasion.
aggregates commensurate with the adopting a proposal to extend for three Respondents: An individual (or a
economy’s long run potential to increase years, with revision, the Interagency group of individuals or company or
production, so as to promote effectively Notice of Change in Control (FR 2081a; group of companies that would not be
the goals of maximum employment, OMB No. 7100–0134), Interagency bank holding companies (BHCs) or
stable prices, and moderate long-term Notice of Change in Director or Senior savings and loan holding companies
interest rates (12 U.S.C. 225a). In Executive Officer (FR 2081b; OMB No. (SLHCs) after consummation of the
addition, under section 12A of the FRA, 7100–0134), Interagency Biographical
sradovich on DSK3GMQ082PROD with NOTICES
proposed transaction) seeking to acquire
the FOMC is required to implement and Financial Report (FR 2081c; OMB shares of an insured depository
regulations relating to the open market 7100–0134), and the Interagency Bank institution, SLHC, or BHC (or group of
operations conducted by Federal Merger Act Application (FR 2070; OMB BHCs or SLHCs).
Reserve Banks. Those transactions must No. 7100–0171). Estimated number of respondents:
be governed with a view to FOR FURTHER INFORMATION CONTACT: 156.
accommodating commerce and business Federal Reserve Board Clearance Estimated average hours per response:
and with regard to their bearing upon Officer—Nuha Elmaghrabi—Office of 30.5.
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![Federal Register / Vol. 83, No. 51 / Thursday, March 15, 2018 / Notices 11523
In addition, each of the draft final Change in Control, Interagency Notice of Hart-Scott-Rodino Antitrust
forms has been revised to remove Change in Director or Senior Executive Improvements Act of 1976, requires
information that is no longer relevant. Officer, Interagency Biographical and persons contemplating certain mergers
For example, the draft final FR 2070 Financial Report, Interagency Bank or acquisitions to give the Federal Trade
would no longer require a description of Merger Act because each of the agencies Commission and the Assistant Attorney
goodwill amortization and purchase uses the forms for information General advance notice and to wait
discount accretion schedules because of collection. The agencies collaborated to designated periods before
accounting rule changes; the draft final determine whether the forms should be consummation of such plans. Section
FR 2081a would no longer require a modified. They reviewed the forms in 7A(b)(2) of the Act permits the agencies,
description of current book value per consideration of current law and in individual cases, to terminate this
share because that information can be applications processing procedures and waiting period prior to its expiration
calculated using other available practices. and requires that notice of this action be
information; and the draft final FR Board of Governors of the Federal Reserve published in the Federal Register.
2081c would remove the requirement to System, March 12, 2018.
provide a fax number. The following transactions were
Ann E. Misback,
The comment period for this notice granted early termination—on the dates
Secretary of the Board. indicated—of the waiting period
expired on December 1, 2017. The [FR Doc. 2018–05255 Filed 3–14–18; 8:45 am]
Board did not receive any comments. provided by law and the premerger
BILLING CODE 6210–01–P notification rules. The listing for each
The revisions will be implemented as
proposed. transaction includes the transaction
number and the parties to the
Consultation With the Federal Deposit FEDERAL TRADE COMMISSION transaction. The grants were made by
Insurance Corporation (FDIC) and the Federal Trade Commission and the
Office of the Comptroller of the Granting of Requests for Early
Assistant Attorney General for the
Currency (OCC) Termination of the Waiting Period
Antitrust Division of the Department of
Under the Premerger Notification
Representatives from the Board Justice. Neither agency intends to take
Rules
worked together with representatives any action with respect to these
from the FDIC and OCC to draft Section 7A of the Clayton Act, 15 proposed acquisitions during the
revisions to the Interagency Notice of U.S.C. 18a, as added by Title II of the applicable waiting period.
EARLY TERMINATIONS GRANTED
FEBRUARY 1, 2018 THRU FEBRUARY 28, 2018
02/01/2018
20180647 ...... G Dominion Energy, Inc.; SCANA Corporation; Dominion Energy, Inc.
02/02/2018
20180107 ...... G Michael S. Dunlap; Great Lakes Higher Education Corporation; Michael S. Dunlap.
20180645 ...... G OCM Big Wave Equity Holdings LLC; Billabong International Ltd.; OCM Big Wave Equity Holdings LLC.
20180650 ...... G Ascension Health Alliance; Presence Health Network; Ascension Health Alliance.
20180676 ...... G KKR European Fund IV L.P.; Unilever N.V.; KKR European Fund IV L.P.
20180677 ...... G Grey Mountain Partners Fund III, L.P.; Brambles Limited; Grey Mountain Partners Fund III, L.P.
20180678 ...... G AXA S.A.; Maestro Health, Inc.; AXA S.A.
20180682 ...... G Alps Electric Co., Ltd.; Alpine Electronics, Inc.; Alps Electric Co., Ltd.
20180685 ...... G Fuad El-Hibri; Emergent BioSolutions, Inc.; Fuad El-Hibri.
02/05/2018
20180730 ...... G Idera Pharmaceuticals, Inc.; BioCryst Pharmaceuticals, Inc.; Idera Pharmaceuticals, Inc.
02/06/2018
20180611 ...... G Warburg Pincus Private Equity XI, L.P.; Dude Solutions Holdings, Inc.; Warburg Pincus Private Equity XI, L.P.
20180654 ...... G Corvex Select Equity Master Fund LP; Energen Corporation; Corvex Select Equity Master Fund LP.
20180683 ...... G Compass Diversified Holdings; Jeffrey Wayne Palmer; Compass Diversified Holdings.
20180702 ...... G GTCR Fund XII/A LP; AP VIII Duke Holdings, L.P.; GTCR Fund XII/A LP.
02/07/2018
20180662 ...... G Vista Foundation Fund II, L.P.; KKR 2006 Fund L.P.; Vista Foundation Fund II, L.P.
20180704 ...... G SLP BHN Investor, L.L.C.; Blackhawk Network Holdings, Inc.; SLP BHN Investor, L.L.C.
02/08/2018
sradovich on DSK3GMQ082PROD with NOTICES
20180534 ...... G W.R. Grace & Co.; Albemarle Corporation; W.R. Grace & Co.
20180623 ...... G ABB Ltd; General Electric Company; ABB Ltd.
02/09/2018
20180693 ...... G Rocher Participations; Natural Products Group, Inc.; Rocher Participations.
20180698 ...... G Michael J. Brown; Euronet Worldwide, Inc.; Michael J. Brown.
VerDate Sep<11>2014 17:34 Mar 14, 2018 Jkt 244001 PO 00000 Frm 00036 Fmt 4703 Sfmt 4703 E:\FR\FM\15MRN1.SGM 15MRN1](https://thefederalregister.org/doc/83_FR_11572/page/3.svg)
Document Created: 2018-03-15 02:37:38
Document Modified: 2018-03-15 02:37:38
| 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 | On October 2, 2017, the Board published a notice in the Federal Register (82 FR 45847) requesting public comment for 60 days on the extension, with revision, of the Interagency Notice of Change in Control (FR 2081a; OMB No. 7100-0134), Interagency Notice of Change in Director or Senior Executive Officer (FR 2081b; OMB No. 7100- 0134), Interagency Biographical and Financial Report (FR 2081c; OMB 7100-0134), and the Interagency Bank Merger Act Application (FR 2070; OMB No. 7100-0171). The Board proposed to revise the FR 2070, 2081a, FR 2081b, and FR 2081c to improve the clarity of the information requests, delete information requests that are not typically useful for the analysis of the proposal, and increase transparency. | |
| Dates | All revisions would become effective upon FDIC and OCC receiving OMB approval of their comparable reports. | |
| Contact | 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. | |
| FR Citation | 83 FR 11521 |
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