Notice2022-24030
Proposed Agency Information Collection Activities; Comment Request
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
November 4, 2022
Issuing agencies
Federal Reserve System
Abstract
The Board of Governors of the Federal Reserve System (Board) invites comment on a proposal to extend for three years, with revision, the Savings and Loan Holding Company Registration Statement (FR LL- 10(b); OMB No. 7100-0337).
Full Text
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<title>Federal Register, Volume 87 Issue 213 (Friday, November 4, 2022)</title>
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[Federal Register Volume 87, Number 213 (Friday, November 4, 2022)]
[Notices]
[Pages 66699-66700]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2022-24030]
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FEDERAL RESERVE SYSTEM
Proposed Agency Information Collection Activities; Comment
Request
AGENCY: Board of Governors of the Federal Reserve System.
ACTION: Notice, request for comment.
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SUMMARY: The Board of Governors of the Federal Reserve System (Board)
invites comment on a proposal to extend for three years, with revision,
the Savings and Loan Holding Company Registration Statement (FR LL-
10(b); OMB No. 7100-0337).
DATES: Comments must be submitted on or before January 3, 2023.
ADDRESSES: You may submit comments, identified by FR LL-10(b), by any
of the following methods:
<bullet> Agency Website: <a href="https://www.federalreserve.gov/">https://www.federalreserve.gov/</a>. Follow
the instructions for submitting comments at <a href="https://www.federalreserve.gov/apps/foia/proposedregs.aspx">https://www.federalreserve.gov/apps/foia/proposedregs.aspx</a>.
<bullet> Email: <a href="/cdn-cgi/l/email-protection#8cfee9ebffa2efe3e1e1e9e2f8ffcceae9e8e9feede0fee9ffe9fefae9a2ebe3fa"><span class="__cf_email__" data-cfemail="d6a4b3b1a5f8b5b9bbbbb3b8a2a596b0b3b2b3a4b7baa4b3a5b3a4a0b3f8b1b9a0">[email protected]</span></a>. Include the OMB
number or FR number in the subject line of the message.
<bullet> Fax: (202) 452-3819 or (202) 452-3102.
<bullet> Mail: Federal Reserve Board of Governors, Attn: Ann E.
Misback, Secretary of the Board, Mailstop M-4775, 2001 C St. NW,
Washington, DC 20551.
All public comments are available from the Board's website at
<a href="https://www.federalreserve.gov/apps/foia/proposedregs.aspx">https://www.federalreserve.gov/apps/foia/proposedregs.aspx</a> as
submitted, unless modified for technical reasons or to remove
personally identifiable information at the commenter's request.
Accordingly, comments will not be edited to remove any confidential
business information, identifying information, or contact information.
Public comments may also be viewed electronically or in paper in Room
M-4365A, 2001 C St. NW, Washington, DC 20551, between 9:00 a.m. and
5:00 p.m. on weekdays. For security reasons, the Board requires that
visitors make an appointment to inspect comments. You may do so by
calling (202) 452-3684. Upon arrival, visitors will be required to
present valid government-issued photo identification and to submit to
security screening in order to inspect and photocopy comments.
Additionally, commenters may send a copy of their comments to the
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.
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, <a href="/cdn-cgi/l/email-protection#6b051e030a450e07060a0c03190a09022b0d1909450c041d"><span class="__cf_email__" data-cfemail="89e7fce1e8a7ece5e4e8eee1fbe8ebe0c9effbeba7eee6ff">[email protected]</span></a>, (202)
452-3884.
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. In exercising this delegated authority, the
Board is directed to take every reasonable step to solicit comment. In
determining whether to approve a collection of information, the Board
will consider all comments received from the public and other agencies.
During the comment period for this proposal, a copy of the proposed
PRA OMB submission, including the draft reporting form and
instructions, supporting statement, and other documentation, will be
made available on the 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
versions of these documents will be made available at <a href="https://www.reginfo.gov/public/do/PRAMain">https://www.reginfo.gov/public/do/PRAMain</a>, if approved.
Request for Comment on Information Collection Proposals
The Board invites public comment on the following information
collection, which is being reviewed under authority delegated by the
OMB under the PRA. Comments are invited on the following:
a. Whether the proposed collections of information are necessary
for the proper performance of the Board's functions, including whether
the information has practical utility;
b. The accuracy of the Board's estimate of the burden of the
proposed information collections, including the validity of the
methodology and assumptions used;
c. Ways to enhance the quality, utility, and clarity of the
information to be collected;
d. Ways to minimize the burden of information collection on
respondents, including through the use of automated collection
techniques or other forms of information technology; and
e. Estimates of capital or startup costs and costs of operation,
maintenance, and purchase of services to provide information.
At the end of the comment period, the comments and recommendations
received will be analyzed to determine the extent to which the Board
should modify the proposal.
Proposal Under OMB Delegated Authority To Extend for Three Years, With
Revision, the Following Information Collections
Collection title: Savings and Loan Holding Company Registration
Statement.
Collection identifier: FR LL-10(b).
OMB control number: 7100-0337.
Frequency: Event-generated.
Respondents: Savings and loan holding companies (SLHCs).
Estimated number of respondents: Registration, 6; deregistration,
1; recordkeeping, 6.
Estimated average hours per response: Registration, 8;
deregistration, 1; recordkeeping, 0.25.
Estimated annual burden hours: Registration, 48; deregistration, 1;
recordkeeping, 2.
General description of collection: The FR LL-10(b) requests
information from registering SLHCs on the financial condition,
ownership, operations, management, and intercompany relationships of
the SLHC and its subsidiaries. Additionally, respondents must include
information concerning the transaction that resulted in the respondent
becoming an SLHC, a description of the SLHC's business, and a
description of any changes related to the financial condition,
ownership, operations, intercompany relationships, and management of
the SLHC and its subsidiaries since the registrant's application to
become an SLHC was approved. The principal executive or principal
financial officer of the registering SLHC must certify that the
information contained in the submission has been carefully reviewed and
is true, correct, and complete.
Proposed revisions: The Board proposes to revise the FR LL-10(b) by
clearing an existing information collection that has not previously
been cleared. Specifically, Supervision and Regulation Letter (SR
Letter) 11-12 \1\ notes that an SLHC that controls only one savings
association subsidiary, provided that subsidiary functions solely in a
trust or fiduciary capacity, may submit a request to the Board to
deregister as an SLHC in accordance
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with a statutory exception.\2\ In submitting such a request, the
requesting SLHC should affirm that its savings association affiliate
meets the relevant statutory requirements described in the SR Letter.
The Board also plans to make certain clarifications to the instructions
for the registration statement:
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\1\ SR 11-12: Deregistration Procedures for Certain Savings and
Loan Holding Companies (July 21, 2011), available at <a href="https://www.federalreserve.gov/supervisionreg/srletters/sr1112.htm">https://www.federalreserve.gov/supervisionreg/srletters/sr1112.htm</a>.
\2\ See 12 U.S.C. 1467a(a)(1)(D)(ii)(II).
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<bullet> In the Filing Requirements section, adding additional
language clarifying that a respondent must retain a copy of the signed
form at least three years, unless it ceases to be an SLHC before then.
<bullet> In the Public Information section, adding additional
language on the Board's procedures for requesting confidential
treatment, including the relevant regulatory citation.
<bullet> In the Requested Information section, Item 1.C., General
Information, clarifying that the background information requested
includes formations of savings associations or SLHCs.
<bullet> In the Requested Information section, Item 2, Amendments
and Revisions to Information Provided in Savings and Loan Holding
Company Application, clarifying that the requested information includes
formations of SLHCs and related subsidiaries.
<bullet> In the Requested Information section, Item 4, Savings and
Loan Holding Company Status and Basis of Control, clarifying that the
documentation requirements include formations of savings associations
and SLHCs, and that responses should be limited to changes since
submitting the SLHC application.
Legal authorization and confidentiality: The FR LL-10(b) is
authorized by sections 10(b)(1) and 10(b)(6) of the Home Owners' Loan
Act.\3\ The FR LL-10(b) is mandatory for new SLHCs required to obtain a
benefit for requests for deregistration as an SLHC.
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\3\ 12 U.S.C. 1467a(b)(1) and (b)(6) (requiring SLHCs to
register with the Board on such forms as it may prescribe and
authorizing the Board to release a registered SLHC from registration
upon motion or application).
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The information submitted under the FR LL-10(b) is not considered
confidential unless an applicant requests confidential treatment in
accordance with the Board's Rules Regarding Availability of
Information.\4\ Requests for confidential treatment of information are
reviewed on a case-by-case basis. Information provided under the FR LL-
10(b) may be nonpublic commercial or financial information that is both
customarily and actually treated as private by the respondent, which is
protected from disclosure pursuant to exemption 4 of the Freedom of
Information Act (FOIA).\5\ Submissions under the FR LL-10(b) may also
contain personnel and medical files the disclosure of which would
constitute a clearly unwarranted invasion of personal privacy, which
are protected under exemption 6 of the FOIA.\6\
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\4\ 12 CFR 261.17.
\5\ 5 U.S.C. 552(b)(4).
\6\ 5 U.S.C. 552(b)(6).
Board of Governors of the Federal Reserve System, November 1,
2022.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2022-24030 Filed 11-3-22; 8:45 am]
BILLING CODE 6210-01-P
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