Notice2022-10966
Agency Information Collection Activities: Announcement of Board Approval Under Delegated Authority and Submission to OMB
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
May 23, 2022
Issuing agencies
Federal Reserve System
Abstract
The Board of Governors of the Federal Reserve System (Board) is adopting a proposal to extend, with revision, the Application to Become a Savings and Loan Holding Company or to Acquire a Savings Association or Savings and Loan Holding Company (FR LL-10(e); OMB No. 7100-0336).
Full Text
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<title>Federal Register, Volume 87 Issue 99 (Monday, May 23, 2022)</title>
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[Federal Register Volume 87, Number 99 (Monday, May 23, 2022)]
[Notices]
[Pages 31235-31236]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2022-10966]
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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, with revision, the Application to
Become a Savings and Loan Holding Company or to Acquire a Savings
Association or Savings and Loan Holding Company (FR LL-10(e); OMB No.
7100-0336).
DATES: The revisions are applicable as of June 22, 2022.
FOR FURTHER INFORMATION CONTACT: Federal Reserve Board Clearance
Officer--Nuha Elmaghrabi--Office of
[[Page 31236]]
the Chief Data Officer, Board of Governors of the Federal Reserve
System, Washington, DC 20551, (202) 452-3829.
Office of Management and Budget (OMB) Desk Officer for the Federal
Reserve Board, 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, OMB delegated to the Board
authority under the Paperwork Reduction Act (PRA) to approve and assign
OMB control numbers to collections of information conducted or
sponsored by the Board. Board-approved collections of information are
incorporated into the official OMB inventory of currently approved
collections of information. The OMB inventory, as well as copies of the
PRA Submission, supporting statements, and approved collection of
information instrument(s) are available at <a href="https://www.reginfo.gov/public/do/PRAMain">https://www.reginfo.gov/public/do/PRAMain</a>. These documents are also available on the Federal
Reserve Board's public website at <a href="https://www.federalreserve.gov/apps/reportforms/review.aspx">https://www.federalreserve.gov/apps/reportforms/review.aspx</a> or may be requested from the agency clearance
officer, whose name appears above.
Final Approval Under OMB Delegated Authority of the Extension for Three
Years, With Revision, of the Following Information Collection
Collection title: Application to Become a Savings and Loan Holding
Company or to Acquire a Savings Association or Savings and Loan Holding
Company.
Collection identifier: FR LL-10(e).
OMB control number: 7100-0336.
Effective Date: June 22, 2022.
Frequency: Event generated.
Respondents: Entities seeking prior approval to become or acquire a
savings and loan holding company (SLHC).
Estimated number of respondents: 15.
Estimated average hours per response: Reporting, 60; Disclosure, 1.
Estimated annual burden hours: Reporting, 900; Disclosure, 15.
General description of collection: The form collects information
concerning certain proposed SLHC formations, acquisitions, and mergers.
Specifically, the form collects financial and managerial information
and information about the proposed transaction, the competitive effects
of the proposal, and the impact of the transaction on the convenience
and needs of the communities to be served. Applicants that file the FR
LL-10(e) are also required to publish a notice in a newspaper of
general circulation in the community(ies) in which the head office(s)
of the applicant; its largest subsidiary savings association, if any;
and each savings association to be directly or indirectly acquired are
located.
Legal authorization and confidentiality: The FR LL-10(e) is
authorized by section 10(b)(2) of the Home Owners' Loan Act (HOLA).\1\
The FR LL-10(e) is required to obtain a benefit.
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\1\ 12 U.S.C. 1467a(b) (requiring SLHCs to register with the
Board on such forms as it may prescribe and authorizing the Board to
require reports from SLHCs containing such information concerning
the operations of SLHCs and their subsidiaries as the Board may
require).
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Information submitted on the FR LL-10(e) may be protected from
disclosure pursuant to exemption 8 of the Freedom of Information Act
(FOIA) \2\ if it is contained in or 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. An applicant may also request confidential treatment for
information provided on the FR LL-10(e) in accordance with the Board's
Rules Regarding Availability of Information,\3\ and such requests will
be reviewed on a case-by-case basis. To the extent information provided
on the FR LL-10(e) is nonpublic commercial or financial information,
which is both customarily and actually treated as private by the
respondent, or to the extent the information reflects personnel and
medical files, the disclosure of which would constitute a clearly
unwarranted invasion of personal privacy, the information may be
protected from disclosure pursuant to FOIA exemption 4 or 6,
respectively.\4\
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\2\ 5 U.S.C. 552(b)(8).
\3\ 12 CFR 261.17.
\4\ 5 U.S.C. 552(b)(4); (b)(6).
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Current actions: On January 28, 2022, the Board published a notice
in the Federal Register (87 FR 4593) requesting public comment for 60
days on the extension, with revision, of the FR LL-10(e). The Board
proposed to revise the FR LL-10(e) by adding a two-page standardized
application and certification form; adding instructions on what
information a filer must include in a notice regarding the
reorganization of a newly-formed holding company pursuant to 12 CFR
238.12(a)(2); providing that applicants that have elected to utilize
the Community Bank Leverage Ratio framework would not be required to
submit information related to risk-weighted assets or risk-based
capital ratios; and explicitly listing filings under section 238.11(f)
of Regulation LL on the instructions. The Board also proposed a minor
change that would correct a cross-reference to the Board's rules
regarding the availability of information and to clarify that the
informational requirements of the FR LL-10(e) are mandatory for all
filers. The comment period for this notice expired on March 29, 2022.
The Board did not receive any comments. The revisions will be
implemented as proposed.
Board of Governors of the Federal Reserve System, May 17, 2022.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2022-10966 Filed 5-20-22; 8:45 am]
BILLING CODE 6210-01-P
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