Federal Register / Vol. 85, No. 239 / Friday, December 11, 2020 / Notices 80099 

1 12 U.S.C. 1852. 

regulations to become a savings and 

loan holding company and/or to acquire 

the assets or the ownership of, control 

of, or the power to vote shares of a 

savings association. 

The public portions of the 

applications listed below, as well as 

other related filings required by the 

Board, if any, are available for 

immediate inspection at the Federal 

Reserve Bank(s) indicated below and at 

the offices of the Board of Governors. 

This information may also be obtained 

on an expedited basis, upon request, by 

contacting the appropriate Federal 

Reserve Bank and from the Board’s 

Freedom of Information Office at 

https://www.federalreserve.gov/foia/ 

request.htm. Interested persons may 

express their views in writing on 

whether the proposed transaction 

complies with the standards 

enumerated in the HOLA (12 U.S.C. 

1467a(e)). 

Comments regarding each of these 

applications must be received at the 

Reserve Bank indicated or the offices of 

the Board of Governors, Ann E. 

Misback, Secretary of the Board, 20th 

Street and Constitution Avenue NW, 

Washington DC 20551–0001, not later 

than January 11, 2021. 

A. Federal Reserve Bank of Kansas 

City (Dennis Denney, Assistant Vice 

President) 1 Memorial Drive, Kansas 

City, Missouri 64198–0001: 

1. The G. Jeffrey Records, Jr. 2020 

Family Trust, Oklahoma City, 

Oklahoma; to become a savings and 

loan holding company by acquiring 

voting shares of Midland Financial Co., 

and thereby indirectly acquire voting 

shares of MidFirst Bank, both of 

Oklahoma City, Oklahoma. 

Board of Governors of the Federal Reserve 

System, December 8, 2020. 

Michele Taylor Fennell, 

Deputy Associate Secretary of the Board. 

[FR Doc. 2020–27327 Filed 12–10–20; 8:45 am] 

BILLING CODE P 

FEDERAL RESERVE SYSTEM 

Agency Information Collection 

Activities: Announcement of Board 

Approval Under Delegated Authority 

and Submission to OMB 

AGENCY: Board of Governors, 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 Reporting 

Requirements Associated with 

Regulation XX (FR XX; OMB No. 7100– 

0363) and the Financial Company (as 

defined) Report of Consolidated 

Liabilities (FR XX–1; OMB No. 7100– 

0363). The revisions are effective 

immediately. 

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. Office of Management and 

Budget (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, OMB delegated to the Board 

authority under the PRA to approve and 

assign OMB control numbers to 

collections of information conducted or 

sponsored by the Board. Boardapproved 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 https://

www.reginfo.gov/public/do/PRAMain. 

These documents are also available on 

the Federal Reserve Board’s public 

website at https://

www.federalreserve.gov/apps/ 

reportforms/review.aspx 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 

Report title: Reporting Requirements 

Associated with Regulation XX; 

Financial Company (as defined) Report 

of Consolidated Liabilities. 

Agency form number: FR XX; FR XX– 

1. 

OMB control number: 7100–0363. 

Frequency: Event-generated; annual. 

Respondents: Insured depository 

institutions, bank holding companies, 

savings and loan holding companies, 

any other companies that control 

insured depository institutions, 

nonbank financial companies 

designated by the Financial Stability 

Oversight Council (Council) for 

supervision by the Board, or foreign 

banks or companies that are treated as 

a bank holding company for purposes of 

the Bank Holding Company Act of 1956 

(BHC Act); Certain financial companies 

that do not otherwise report 

consolidated financial information to 

the Board or another Federal banking 

agency. 

Estimated number of respondents: FR 

XX (Section 251.3(e))–1; FR XX 

(Sections 251.4(b) and (c))–1; FR XX–1– 

37. 

Estimated average hours per response: 

FR XX (Section 251.3(e))–6; FR XX 

(Sections 251.4(b) and (c))–20; FR XX– 

1–2. 

Estimated annual burden hours: FR 

XX (Section 251.3(e))–6; FR XX 

(Sections 251.4(b) and (c))–20; FR XX– 

1–74. 

General description of report: The 

Board’s Regulation XX—Concentration 

Limit (12 CFR part 251) implements 

section 14 of the BHC Act,1 which 

establishes a financial sector 

concentration limit that generally 

prohibits a financial company from 

merging or consolidating with, or 

otherwise acquiring, another company if 

the resulting company’s liabilities upon 

consummation would exceed 10 percent 

of the aggregate liabilities of all financial 

companies (a covered acquisition). 

Under section 14 of the BHC Act and 

Regulation XX, a financial company 

means (1) an insured depository 

institution, (2) a bank holding company, 

(3) a savings and loan holding company, 

(4) any other company that controls an 

insured depository institution, (5) a 

nonbank financial company designated 

by the Council for supervision by the 

Board, or (6) a foreign bank or company 

that is treated as a bank holding 

company for purposes of the BHC Act. 

Regulation XX includes certain 

reporting requirements that apply to 

financial companies, and the FR XX–1 

collects information from certain 

financial companies that do not 

otherwise report consolidated financial 

information to the Board or another 

Federal banking agency. 

Legal authorization and 

confidentiality: The FR XX and the FR 

XX–1 are authorized by section 14 of the 

BHC Act, which, in relevant part, 

expressly authorizes the Board to issue 

‘‘regulations implementing this section’’ 

and ‘‘interpretations or guidance 

regarding the application of this section 

to an individual financial company or to 

financial companies in general’’ (12 

U.S.C. 1852(d)). The Board also has the 

authority to require reports from bank 

holding companies (12 U.S.C. 1844(c)), 

savings and loan holding companies (12 

U.S.C. 1467a(b) and (g)), state member 

banks (12 U.S.C. 248(a) and 324), and 

state-licensed branches and agencies of 

foreign banks, other than insured 

branches (12 U.S.C. 3105(c)(2)). The 

obligation to respond is mandatory. 


jbell on DSKJLSW7X2PROD with NOTICES
80100 Federal Register / Vol. 85, No. 239 / Friday, December 11, 2020 / Notices 

1 In 2012, the Board indicated that it would 

require supervised securities holding companies 

(‘‘SHCs’’) to file the FR Y–12 and FR Y–12A reports. 

77 FR 32881, 32883 (June 4, 2012). However, no 

such revisions were ever made to include SHCs as 

respondents on either report. Upon reflection, the 

Board has determined that it would not be 

appropriate at this time to add supervised SHCs to 

the respondent panel for the FR Y–12 or FR Y–12A 

reports. A supervised SHCs would not be subject to 

the restrictions on nonbanking activities that limit 

the investments of other holding companies. 

Therefore, any information gathered about SHCs’ 

investments on the FR Y–12 would be of limited 

use, and would not be comparable to data gathered 

from other holding companies. Moreover, adding 

supervised SHCs to the FR Y–12 reporting panel 

would require significant revisions to the FR Y–12 

instructions in order to account for the differences 

in legal treatment between supervised SHCs and the 

other respondents. Such revisions could lead to 

confusion among current FR Y–12 reporters. With 

respect to the FR Y–12A, the Board is not proposing 

to add supervised SHCs to the respondent panel 

because supervised SHCs are not restricted in their 

ability to make investments in nonfinancial 

companies, and their investments are not subject to 

the merchant bank holding periods that apply to 

FHC investments. 

Individual respondents may request 

that information submitted to the Board 

through the FR XX or FR XX–1 be kept 

confidential. If a respondent requests 

confidential treatment, the Board will 

determine whether the information is 

entitled to confidential treatment on a 

case-by-case basis. To the extent a 

respondent submits nonpublic 

commercial or financial information in 

connection with the FR XX or FR XX– 

1, which is both customarily and 

actually treated as private by the 

respondent, the respondent may request 

confidential treatment pursuant to 

exemption 4 of the Freedom of 

Information Act (FOIA) (5 U.S.C. 

552(b)(4)). The entity should separately 

designate such information as 

‘‘confidential commercial information’’ 

or ‘‘confidential financial information’’ 

as appropriate, and the Board will treat 

such designated information as 

confidential to the extent permitted by 

law, including the FOIA. 

Current actions: On August 21, 2020, 

the Board published a notice in the 

Federal Register (85 FR 51713) 

requesting public comment for 60 days 

on the extension, with revision, of the 

FR XX and FR XX–1. The Board 

proposes to revise the FR XX to account 

for the reporting provision located at 

section 251.3(e). This provision of the 

regulation implements the Council’s 

recommendation to allow a financial 

company that does not use U.S. 

generally accepted accounting 

principles (GAAP) to use another 

appropriate accounting standard or 

method of estimation for determining 

compliance with section 14 of the BHC 

Act, while ensuring that the Board has 

an opportunity to review the 

appropriateness of the company’s 

proposed approach. The Board proposes 

to revise the due date for the FR XX–1 

report. The FR XX–1 implements 

section 251.6(a) of Regulation XX, 

which requires a financial company that 

does not otherwise report consolidated 

financial information to the Board or 

another Federal banking agency to 

report to the Board its consolidated 

liabilities as of the previous calendar 

year-end. Regulation XX provides that 

this report must be submitted by March 

31 of each year. However, the 

instructions to the FR XX–1 currently 

state that the report must be submitted 

90 calendar days after the December 31 

as of date or, if the submission deadline 

falls on a weekend or holiday, the first 

business day after the weekend or 

holiday. Under these instructions, the 

FR XX–1 could be due prior to March 

31 (in a leap year) or after March 31 (if 

March 31 falls on a weekend or 

holiday). In order to ensure that the due 

date of the FR XX–1 coincides with the 

date set forth in Regulation XX, the 

Board proposes to revise the FR XX–1 

so that it is due by March 31 of the year 

following the December 31 as of date. 

The comment period for this notice 

expired on October 20, 2020. The Board 

did not receive any comments. The 

revisions will be implemented as 

proposed. 

Board of Governors of the Federal Reserve 

System, December 7, 2020. 

Michele Taylor Fennell, 

Deputy Associate Secretary of the Board. 

[FR Doc. 2020–27342 Filed 12–10–20; 8:45 am] 

BILLING CODE 6210–01–P 

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 Consolidated 

Holding Company Report of Equity 

Investments in Nonfinancial Companies 

(FR Y–12; OMB No. 7100–0300) and the 

Annual Report of Merchant Banking 

Investments Held for an Extended 

Period (FR Y–12A; OMB No. 7100– 

0300). The revisions are applicable for 

the December 31, 2020 reporting date. 

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. Office of Management and 

Budget (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, OMB delegated to the Board 

authority under the PRA to approve and 

assign OMB control numbers to 

collections of information conducted or 

sponsored by the Board. Boardapproved 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 https://

www.reginfo.gov/public/do/PRAMain. 

These documents are also available on 

the Federal Reserve Board’s public 

website at https://

www.federalreserve.gov/apps/ 

reportforms/review.aspx 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: 

Report Title: Consolidated Bank 

Holding Company Report of Equity 

Investments in Nonfinancial 

Companies, and the Annual Report of 

Merchant Banking Investments Held for 

an Extended Period. 

Agency form number: FR Y–12 and 

FR Y–12A, respectively. 

OMB control number: 7100–0300. 

Effective Date: December 31, 2020. 

Frequency: FR Y–12, quarterly and 

semiannually; and FR Y–12A, annually. 

Respondents: Bank holding 

companies (BHCs), savings and loan 

holding companies (SLHCs), U.S. 

intermediate holding companies (IHCs), 

and financial holding companies (FHCs) 

that hold merchant banking investments 

that are approaching the end of the 

holding periods permissible under 

Regulation Y.1

Number of respondents: FR Y–12 

quarterly, 22; FR Y–12 semiannual, 7; 

and FR Y–12A, 91. 

Estimated average hours per response: 

FR Y–12, 16.5; and FR Y–12A, 7.5. 

Estimated annual reporting hours: FR 

Y–12 quarterly, 1,452; FR Y–12 

semiannual, 231; and FR Y–12A, 683. 

General description of report: The 

mandatory FR Y–12 report collects 

information from certain domestic bank 


jbell on DSKJLSW7X2PROD with NOTICES