83_FR_46339 83 FR 46162 - Agency Information Collection Activities: Announcement of Board Approval Under Delegated Authority

83 FR 46162 - Agency Information Collection Activities: Announcement of Board Approval Under Delegated Authority

FEDERAL RESERVE SYSTEM

Federal Register Volume 83, Issue 177 (September 12, 2018)

Page Range46162-46163
FR Document2018-19676

Notice is hereby given of temporary approval of revisions to the mandatory Consolidated Financial Statements for Holding Companies (FR Y-9C; OMB No. 7100-0128) by the Board of Governors of the Federal Reserve System (Board) pursuant to the authority delegated to the Board by the Office of Management and Budget (OMB), per OMB Regulations on Controlling Paperwork Burdens on the Public. The temporary approval is valid until March 31, 2019.

Federal Register, Volume 83 Issue 177 (Wednesday, September 12, 2018) 
[Federal Register Volume 83, Number 177 (Wednesday, September 12, 2018)]
[Notices]
[Pages 46162-46163]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2018-19676]



[[Page 46162]]

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FEDERAL RESERVE SYSTEM


Agency Information Collection Activities: Announcement of Board 
Approval Under Delegated Authority

AGENCY: Board of Governors of the Federal Reserve System.
SUMMARY: Notice is hereby given of temporary approval of revisions to 
the mandatory Consolidated Financial Statements for Holding Companies 
(FR Y-9C; OMB No. 7100-0128) by the Board of Governors of the Federal 
Reserve System (Board) pursuant to the authority delegated to the Board 
by the Office of Management and Budget (OMB), per OMB Regulations on 
Controlling Paperwork Burdens on the Public. The temporary approval is 
valid until March 31, 2019.

DATES: The revisions are applicable as of June 30, 2018.

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 OMB delegated to the 
Board authority under the Paperwork Reduction Act (PRA) to temporarily 
approve a revision to a collection of information without providing 
opportunity for public comment if the Board determines that a change in 
an existing collection must be instituted quickly and that public 
participation in the approval process would defeat the purpose of the 
collection or substantially interfere with the Board's ability to 
perform its statutory obligation.
    The Board's delegated authority requires that the Board, after 
temporarily approving a collection, publish a notice soliciting public 
comment. The Board will publish a notice in the future inviting comment 
on these actions.
    Final approval under OMB delegated authority of the temporary 
revision of the following reports:
    Report title: Consolidated Financial Statements for Holding 
Companies.
    Agency form number: FR Y-9C, FR Y-9LP, FR Y-9SP, FR Y-9ES, and FR 
Y-9CS.
    OMB control number: 7100-0128.
    Effective Date: June 30, 2018.
    Frequency: Quarterly and semiannually.
    Respondents: Bank holding companies, savings and loan holding 
companies, securities holding companies, and U.S. intermediate holding 
companies (collectively, holding companies (HCs)).
    Estimated number of respondents: FR Y-9C (non-advanced approaches 
holding companies): 638; FR Y-9C (advanced approaches holding 
companies): 18; FR Y-9LP: 775; FR Y-9SP: 3,837 FR Y-9ES: 82; FR Y-9CS: 
236.
    Estimated average hours per response: FR Y-9C (non-advanced 
approaches holding companies): 46.29 hours; FR Y-9C (advanced 
approaches holding companies HCs): 47.54 hours; FR Y-9LP: 5.27 hours; 
FR Y-9SP: 5.40 hours; FR Y-9ES: 0.50 hours; FR Y-9CS: 0.50 hours.
    Estimated annual burden hours: FR Y-9C (non-advanced approaches 
holding companies): 118,132 hours; FR Y-9C (advanced approaches holding 
companies): 3,423 hours; FR Y-9LP: 16,337 hours; FR Y-9SP: 41,440 
hours; FR Y-9ES: 41 hours; FR Y-9CS: 472 hours.
    General description of report: The FR Y-9 family of reporting forms 
continues to be the primary source of financial data on HCs that 
examiners rely on between on-site inspections. Financial data from 
these reporting forms is used to detect emerging financial problems, 
review performance, conduct pre-inspection analysis, monitor and 
evaluate capital adequacy, evaluate HC mergers and acquisitions, and 
analyze an HC's overall financial condition to ensure the safety and 
soundness of its operations. The FR Y-9C, FR Y-9LP, and FR Y-9SP serve 
as standardized financial statements for the consolidated holding 
company. The Board requires HCs to provide standardized financial 
statements to fulfill the Board's statutory obligation to supervise 
these organizations. The FR Y-9ES is a financial statement for HCs that 
are Employee Stock Ownership Plans. The Board uses the FR Y-9CS (a 
free-form supplement) to collect additional information deemed to be 
critical and needed in an expedited manner. HCs file the FRY-9C on a 
quarterly basis, the FR Y-9LP quarterly, the FR Y-9SP semiannually, the 
FR Y-9ES annually, and the FR Y-9CS on a schedule that is determined 
when this supplement is used.
    Legal Authorization and confidentiality: The FR Y-9 family of 
reports is authorized by section 5(c) of the Bank Holding Company Act 
(12 U.S.C. 1844(c)), section 10 of Home Owners' Loan Act (12 U.S.C. 
1467a(b)) and section 618 of the Dodd-Frank Wall Street Reform and 
Consumer Protection Act (Dodd-Frank Act) (12 U.S.C. 1850a(c)(1)), and 
section 165 of the Dodd-Frank Act (12 U.S.C. 5365). The obligation of 
covered institutions to report this information is mandatory.
    With respect to FR Y-9LP, FR Y-9SP, FR Y-ES, and FR Y-9CS, the 
information collected would generally not be accorded confidential 
treatment. If confidential treatment is requested by a respondent, the 
Board will review the request to determine if confidential treatment is 
appropriate.
    With respect to FR Y-9C, Schedule HI's item 7(g) ``FDIC deposit 
insurance assessments,'' Schedule HC-P's item 7(a) ``Representation and 
warranty reserves for 1-4 family residential mortgage loans sold to 
U.S. government agencies and government sponsored agencies,'' and 
Schedule HC-P's item 7(b) ``Representation and warranty reserves for 1-
4 family residential mortgage loans sold to other parties'' are 
considered confidential. Such treatment is appropriate because the data 
is not publicly available and the public release of this data is likely 
to impair the Board's ability to collect necessary information in the 
future and could cause substantial harm to the competitive position of 
the respondent. Thus, this information may be kept confidential under 
exemptions (b)(4) of the Freedom of Information Act, which exempts from 
disclosure ``trade secrets and commercial or financial information 
obtained from a person and privileged or confidential'' (5 U.S.C. 
552(b)(4)), and (b)(8) of the Freedom of Information Act, which exempts 
from disclosure information related to examination, operating, or 
condition reports prepared by, on behalf of, or for the use of an 
agency responsible for the regulation or supervision of financial 
institutions (5 U.S.C. 552(b)(8)).
    Current Actions: The Economic Growth, Regulatory Relief, and 
Consumer Protection Action (EGRRCPA), enacted on May 24, 2018, amended 
various provisions of banking law to eliminate or reduce statutory and 
regulatory requirements on certain banking organizations. EGRRCPA, 
among other things, provides that state member banks and other 
depository institutions may only be required to assign a heightened 
risk weight to a ``high volatility commercial real estate'' (HVCRE) 
exposure if such exposure is

[[Page 46163]]

an ``HVCRE ADC Loan,'' as defined in section 214 of EGRRCPA. Section 
202 of EGRRCPA also amended the statutory definition of ``brokered 
deposits.'' The current instructions for reporting HVCRE and brokered 
deposits in the FR Y-9C are inconsistent with these provisions of 
EGRRCPA.
    In order to avoid the regulatory burden associated with different 
definitions for HVCRE exposures and brokered deposits within a single 
organization, the Board has amended the FR Y-9C instructions to permit 
bank holding companies, savings and loan holding companies, and 
intermediate holding companies of foreign banks to report HVCRE and 
brokered deposits on the FR Y-9C report in a manner consistent with 
their subsidiary depository institution(s).
    In order for the FR Y-9C to reflect sections 202 and 214 of 
EGRRCPA, which became effective immediately when EGRRCPA was signed on 
May 24, 2018, the Board cannot comply with the normal clearance process 
and still receive the June 30, 2018, financial data in a timely manner. 
Therefore, the Board has determined that the revisions to the FR Y-9C 
described above must be instituted quickly and public participation in 
the approval process would substantially interfere with the Board's 
ability to perform its statutory obligations arising from EGRRCPA.

    Board of Governors of the Federal Reserve System, September 6, 
2018.
Michele Taylor Fennell,
Assistant Secretary of the Board.
[FR Doc. 2018-19676 Filed 9-11-18; 8:45 am]
BILLING CODE 6210-01-P

46162 Federal Register / Vol. 83, No. 177 / Wednesday, September 12, 2018 / Notices FEDERAL RESERVE SYSTEM Agency form number: FR Y–9C, FR Legal Authorization and Y–9LP, FR Y–9SP, FR Y–9ES, and FR confidentiality: The FR Y–9 family of Agency Information Collection Y–9CS. reports is authorized by section 5(c) of Activities: Announcement of Board OMB control number: 7100–0128. the Bank Holding Company Act (12 Approval Under Delegated Authority Effective Date: June 30, 2018. U.S.C. 1844(c)), section 10 of Home Frequency: Quarterly and Owners’ Loan Act (12 U.S.C. 1467a(b)) AGENCY: Board of Governors of the semiannually. and section 618 of the Dodd-Frank Wall Federal Reserve System. Respondents: Bank holding Street Reform and Consumer Protection SUMMARY: Notice is hereby given of companies, savings and loan holding Act (Dodd-Frank Act) (12 U.S.C. temporary approval of revisions to the companies, securities holding 1850a(c)(1)), and section 165 of the mandatory Consolidated Financial companies, and U.S. intermediate Dodd-Frank Act (12 U.S.C. 5365). The Statements for Holding Companies (FR holding companies (collectively, obligation of covered institutions to Y–9C; OMB No. 7100–0128) by the holding companies (HCs)). report this information is mandatory. Board of Governors of the Federal Estimated number of respondents: FR With respect to FR Y–9LP, FR Y–9SP, Reserve System (Board) pursuant to the Y–9C (non-advanced approaches FR Y–ES, and FR Y–9CS, the authority delegated to the Board by the holding companies): 638; FR Y–9C information collected would generally Office of Management and Budget (advanced approaches holding not be accorded confidential treatment. (OMB), per OMB Regulations on companies): 18; FR Y–9LP: 775; FR If confidential treatment is requested by Controlling Paperwork Burdens on the Y–9SP: 3,837 FR Y–9ES: 82; FR Y–9CS: a respondent, the Board will review the Public. The temporary approval is valid 236. request to determine if confidential until March 31, 2019. Estimated average hours per response: treatment is appropriate. DATES: The revisions are applicable as of FR Y–9C (non-advanced approaches With respect to FR Y–9C, Schedule June 30, 2018. holding companies): 46.29 hours; FR HI’s item 7(g) ‘‘FDIC deposit insurance Y–9C (advanced approaches holding assessments,’’ Schedule HC–P’s item FOR FURTHER INFORMATION CONTACT: companies HCs): 47.54 hours; FR 7(a) ‘‘Representation and warranty Federal Reserve Board Clearance Y–9LP: 5.27 hours; FR Y–9SP: 5.40 Officer—Nuha Elmaghrabi—Office of reserves for 1–4 family residential hours; FR Y–9ES: 0.50 hours; FR Y–9CS: mortgage loans sold to U.S. government the Chief Data Officer, Board of 0.50 hours. Governors of the Federal Reserve agencies and government sponsored Estimated annual burden hours: FR agencies,’’ and Schedule HC–P’s item System, Washington, DC 20551, (202) Y–9C (non-advanced approaches 452–3829. Telecommunications Device 7(b) ‘‘Representation and warranty holding companies): 118,132 hours; FR reserves for 1–4 family residential for the Deaf (TDD) users may contact Y–9C (advanced approaches holding (202) 263–4869, Board of Governors of mortgage loans sold to other parties’’ are companies): 3,423 hours; FR Y–9LP: considered confidential. Such treatment the Federal Reserve System, 16,337 hours; FR Y–9SP: 41,440 hours; Washington, DC 20551. is appropriate because the data is not FR Y–9ES: 41 hours; FR Y–9CS: 472 publicly available and the public release OMB Desk Officer—Shagufta hours. of this data is likely to impair the Ahmed—Office of Information and General description of report: The FR Board’s ability to collect necessary Regulatory Affairs, Office of Y–9 family of reporting forms continues information in the future and could Management and Budget, New to be the primary source of financial cause substantial harm to the Executive Office Building, Room 10235, data on HCs that examiners rely on competitive position of the respondent. 725 17th Street NW, Washington, DC between on-site inspections. Financial Thus, this information may be kept 20503 or by fax to (202) 395–6974. data from these reporting forms is used confidential under exemptions (b)(4) of SUPPLEMENTARY INFORMATION: On June to detect emerging financial problems, the Freedom of Information Act, which 15, 1984, the OMB delegated to the review performance, conduct pre- exempts from disclosure ‘‘trade secrets Board authority under the Paperwork inspection analysis, monitor and and commercial or financial information Reduction Act (PRA) to temporarily evaluate capital adequacy, evaluate HC obtained from a person and privileged approve a revision to a collection of mergers and acquisitions, and analyze or confidential’’ (5 U.S.C. 552(b)(4)), and information without providing an HC’s overall financial condition to (b)(8) of the Freedom of Information opportunity for public comment if the ensure the safety and soundness of its Act, which exempts from disclosure Board determines that a change in an operations. The FR Y–9C, FR Y–9LP, information related to examination, existing collection must be instituted and FR Y–9SP serve as standardized operating, or condition reports prepared quickly and that public participation in financial statements for the consolidated by, on behalf of, or for the use of an the approval process would defeat the holding company. The Board requires agency responsible for the regulation or purpose of the collection or HCs to provide standardized financial supervision of financial institutions (5 substantially interfere with the Board’s statements to fulfill the Board’s U.S.C. 552(b)(8)). ability to perform its statutory statutory obligation to supervise these Current Actions: The Economic obligation. organizations. The FR Y–9ES is a Growth, Regulatory Relief, and The Board’s delegated authority financial statement for HCs that are Consumer Protection Action requires that the Board, after Employee Stock Ownership Plans. The (EGRRCPA), enacted on May 24, 2018, temporarily approving a collection, Board uses the FR Y–9CS (a free-form amended various provisions of banking publish a notice soliciting public supplement) to collect additional law to eliminate or reduce statutory and comment. The Board will publish a information deemed to be critical and regulatory requirements on certain daltland on DSKBBV9HB2PROD with NOTICES notice in the future inviting comment needed in an expedited manner. HCs banking organizations. EGRRCPA, on these actions. file the FRY–9C on a quarterly basis, the among other things, provides that state Final approval under OMB delegated FR Y–9LP quarterly, the FR Y–9SP member banks and other depository authority of the temporary revision of semiannually, the FR Y–9ES annually, institutions may only be required to the following reports: and the FR Y–9CS on a schedule that is assign a heightened risk weight to a Report title: Consolidated Financial determined when this supplement is ‘‘high volatility commercial real estate’’ Statements for Holding Companies. used. (HVCRE) exposure if such exposure is VerDate Sep<11>2014 18:41 Sep 11, 2018 Jkt 244001 PO 00000 Frm 00027 Fmt 4703 Sfmt 4703 E:\FR\FM\12SEN1.SGM 12SEN1

Federal Register / Vol. 83, No. 177 / Wednesday, September 12, 2018 / Notices 46163 an ‘‘HVCRE ADC Loan,’’ as defined in the Board of Governors. Interested OMB Desk Officer—Shagufta section 214 of EGRRCPA. Section 202 of persons may express their views in Ahmed—Office of Information and EGRRCPA also amended the statutory writing on the standards enumerated in Regulatory Affairs, Office of definition of ‘‘brokered deposits.’’ The the BHC Act (12 U.S.C. 1842(c)). If the Management and Budget, New current instructions for reporting proposal also involves the acquisition of Executive Office Building, Room 10235, HVCRE and brokered deposits in the FR a nonbanking company, the review also 725 17th Street NW, Washington, DC Y–9C are inconsistent with these includes whether the acquisition of the 20503 or by fax to (202) 395–6974. provisions of EGRRCPA. nonbanking company complies with the SUPPLEMENTARY INFORMATION: On June In order to avoid the regulatory standards in section 4 of the BHC Act 15, 1984, OMB delegated to the Board burden associated with different (12 U.S.C. 1843). Unless otherwise authority under the Paperwork definitions for HVCRE exposures and noted, nonbanking activities will be Reduction Act (PRA) to temporarily brokered deposits within a single conducted throughout the United States. approve a revision to a collection of organization, the Board has amended Unless otherwise noted, comments information without providing the FR Y–9C instructions to permit bank regarding each of these applications opportunity for public comment if the holding companies, savings and loan must be received at the Reserve Bank Board determines that a change in an holding companies, and intermediate indicated or the offices of the Board of existing collection must be instituted holding companies of foreign banks to Governors not later than October 8, quickly and that public participation in report HVCRE and brokered deposits on 2018. the approval process would defeat the the FR Y–9C report in a manner A. Federal Reserve Bank of Dallas purpose of the collection or consistent with their subsidiary (Robert L. Triplett III, Senior Vice substantially interfere with the Board’s depository institution(s). President) 2200 North Pearl Street, Dallas, Texas 75201–2272: ability to perform its statutory In order for the FR Y–9C to reflect 1. Veritex Holdings, Inc., Dallas, obligation. sections 202 and 214 of EGRRCPA, Texas; to acquire Green Bancorp, Inc., The Board’s delegated authority which became effective immediately and thereby indirectly acquire Green requires that the Board, after when EGRRCPA was signed on May 24, Bank, National Association, both of temporarily approving a collection, 2018, the Board cannot comply with the Houston, Texas. publish a notice soliciting public normal clearance process and still comment. The Board will publish a receive the June 30, 2018, financial data Board of Governors of the Federal Reserve notice in the future inviting comment in a timely manner. Therefore, the System, September 7, 2018. on these actions. Board has determined that the revisions Yao-Chin Chao, Final approval under OMB delegated to the FR Y–9C described above must be Assistant Secretary of the Board. authority of the temporary revision of instituted quickly and public [FR Doc. 2018–19826 Filed 9–11–18; 8:45 am] the following report: participation in the approval process BILLING CODE 6210–01–P Report title: Complex Institution would substantially interfere with the Liquidity Monitoring Report. Board’s ability to perform its statutory Agency form number: FR 2052a. obligations arising from EGRRCPA. FEDERAL RESERVE SYSTEM OMB control number: 7100–0361. Board of Governors of the Federal Reserve Effective Date: June 30, 2018. System, September 6, 2018. Agency Information Collection Activities: Announcement of Board Frequency: Monthly, and each Michele Taylor Fennell, business day (daily). Assistant Secretary of the Board. Approval Under Delegated Authority Respondents: U.S. bank holding [FR Doc. 2018–19676 Filed 9–11–18; 8:45 am] AGENCY: Board of Governors of the companies (BHCs), U.S. savings and BILLING CODE 6210–01–P Federal Reserve System. loan holding companies (SLHCs), and SUMMARY: Notice is hereby given of foreign banking organizations (FBOs) temporary approval of revisions to the with U.S. assets. FEDERAL RESERVE SYSTEM mandatory Complex Institution Estimated number of respondents: Liquidity Monitoring Report (FR 2052a; Monthly, 40; Daily, 12. Formations of, Acquisitions by, and OMB No. 7100–0361) by the Board of Estimated average hours per response: Mergers of Bank Holding Companies Governors of the Federal Reserve Monthly, 120; Daily, 220. The companies listed in this notice System (Board) pursuant to the Estimated annual burden hours: have applied to the Board for approval, authority delegated to the Board by the 717,600. pursuant to the Bank Holding Company Office of Management and Budget General description of report: The FR Act of 1956 (12 U.S.C. 1841 et seq.) (OMB), per OMB Regulations on 2052a is used to monitor the overall (BHC Act), Regulation Y (12 CFR part Controlling Paperwork Burdens on the liquidity profile of institutions 225), and all other applicable statutes Public. The temporary approval is valid supervised by the Board. These data and regulations to become a bank until March 31, 2019. provide detailed information on the holding company and/or to acquire the DATES: The revisions are applicable as of liquidity risks within different business assets or the ownership of, control of, or June 30, 2018. lines (e.g., financing of securities the power to vote shares of a bank or FOR FURTHER INFORMATION CONTACT: positions, prime brokerage activities). In bank holding company and all of the Federal Reserve Board Clearance particular, these data serve as part of the banks and nonbanking companies Officer—Nuha Elmaghrabi—Office of Board’s supervisory surveillance owned by the bank holding company, the Chief Data Officer, Board of program in its liquidity risk daltland on DSKBBV9HB2PROD with NOTICES including the companies listed below. Governors of the Federal Reserve management area and provide timely The applications listed below, as well System, Washington, DC 20551, (202) information on firm-specific liquidity as other related filings required by the 452–3829. Telecommunications Device risks during periods of stress. Analyses Board, are available for immediate for the Deaf (TDD) users may contact of systemic and idiosyncratic liquidity inspection at the Federal Reserve Bank (202) 263–4869, Board of Governors of risk issues are then used to inform the indicated. The applications will also be the Federal Reserve System, Board’s supervisory processes, available for inspection at the offices of Washington, DC 20551. including the preparation of analytical VerDate Sep<11>2014 18:41 Sep 11, 2018 Jkt 244001 PO 00000 Frm 00028 Fmt 4703 Sfmt 4703 E:\FR\FM\12SEN1.SGM 12SEN1


Document Created: 2018-09-12 02:07:18
Document Modified: 2018-09-12 02:07:18
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
ActionThe Economic Growth, Regulatory Relief, and Consumer Protection Action (EGRRCPA), enacted on May 24, 2018, amended various provisions of banking law to eliminate or reduce statutory and regulatory requirements on certain banking organizations. EGRRCPA, among other things, provides that state member banks and other depository institutions may only be required to assign a heightened risk weight to a ``high volatility commercial real estate'' (HVCRE) exposure if such exposure is an ``HVCRE ADC Loan,'' as defined in section 214 of EGRRCPA. Section 202 of EGRRCPA also amended the statutory definition of ``brokered deposits.'' The current instructions for reporting HVCRE and brokered deposits in the FR Y-9C are inconsistent with these provisions of EGRRCPA.
DatesThe revisions are applicable as of June 30, 2018.
ContactFederal 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 Citation83 FR 46162 
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