83954 Federal Register / Vol. 85, No. 247 / Wednesday, December 23, 2020 / Notices 

1 12 U.S.C. 1817(j). 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)), and 

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

2 12 U.S.C. 1831i. 

3 12 U.S.C. 1828(c). 

4 12 U.S.C. 1842. 

5 5 U.S.C. 552(b)(4) 

6 5 U.S.C. 552(b)(6) 

7 5 U.S.C. 552(b)(8). 

member bank (SMB), SLHC, or BHC, or 

by the affected individual. The notice 

must include (1) details of the proposed 

transaction; (2) steps taken by the 

insured depository institution or 

holding company to investigate and 

satisfy itself as to the competence, 

experience, character, and integrity of 

the subject individual; (3) if the notice 

represents a proposal to serve as a 

senior executive officer of an insured 

depository institution or holding 

company, a description of the duties 

and responsibilities of the subject 

position and proposed terms of 

employment; and (4) if it is an after-thefact notice, an identification of the 

exception to the prior notice 

requirement upon which the notificant 

relies or a discussion of the reasons that 

prior notice was not given and what 

steps have been taken to avoid future 

violations. 

Report title: Interagency Biographical 

and Financial Report. 

Agency form number: FR 2081c. 

OMB control number: 7100–0134. 

Frequency: Event generated. 

Respondents: All financial 

institutions regulated by the Board. 

Estimated number of respondents: 

959. 

Estimated average hours per response: 

4.5. 

Estimated annual burden hours: 

4,316. 

General description of report: The FR 

2081c is used by certain shareholders, 

directors, and executive officers in 

connection with the FR 2081a and FR 

2081b. Information requested on this 

reporting form is subject to verification 

and must be complete. As with all the 

notices and reporting forms, requests for 

clarification or supplementation of the 

original filing may be necessary. 

Proposed Revisions: The Board 

proposes to revise the FR 2081c by 

correcting an inadvertent and 

unintentional numbering error from the 

previous clearance. As a result of this 

error, currently, a respondent is 

required to provide their telephone 

number and email address only if they 

are not a U.S. citizen or are a dual 

citizen. With the corrected numbering 

and delineation, the form will clearly 

require all respondents to provide their 

telephone number and email address. 

This revision would be effective 

immediately. No changes are being 

proposed for the FR 2081a or FR 2081b. 

Legal authorization and 

confidentiality: The FR 2081a and FR 

2081c information collections are 

authorized by section 7(j) of the Federal 

Deposit Insurance Act, which states that 

‘‘[n]o person . . . shall acquire control 

of any insured depository institution 

. . . unless the appropriate Federal 

banking agency has been given sixty 

days’ prior written notice of such 

proposed acquisition’’ and requires the 

Federal Reserve to investigate the 

competence, experience, integrity, and 

financial ability of any such person.1

The FR 2081a, FR 2081b, and FR 2081c 

information collections are authorized 

by section 914 of the Financial 

Institutions Reform, Recovery, and 

Enforcement Act (FIRREA), which 

provides that an insured depository 

institution or depository institution 

holding company shall notify the 

appropriate Federal banking agency of 

the proposed addition of any individual 

to the board of directors or the 

employment of any individual as a 

senior executive officer at least 30 days 

before such addition or employment 

becomes effective.2

In addition to being used in 

conjunction with the FR 2081a and FR 

2081b, the FR 2081c is used in 

conjunction with the FR 2070 and the 

Application to Become a Bank Holding 

Company and/or Acquire an Additional 

Bank or Bank Holding Company (FR Y– 

3; OMB No. 7100–0121). When used in 

conjunction with the FR 2070, the FR 

2081c is authorized by section 18(c) of 

the Federal Deposit Insurance Act, 

which requires that a SMB, 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 assuming liability to pay 

any deposits made in any other 

depository institution, and requires the 

Board to consider the managerial 

resources and future prospects of the 

existing and proposed institutions.3

When used in conjunction with the FR 

Y–3, the FR 2081c is authorized by 

section 3(a) of the Bank Holding 

Company Act of 1956, which requires 

Board approval for formations, 

acquisitions, and mergers of bank 

holding companies, and requires the 

Board to consider the competence, 

experience, and integrity of the officers, 

directors, and principal shareholders of 

the company.4

The obligation to file these eventgenerated reports is mandatory. 

Individual respondents may request that 

information submitted to the Board 

through the FR 2081a, FR 2081b, or FR 

2081c 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, 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 To the extent a respondent 

submits personnel, medical, or similar 

files, the disclosure of which would 

constitute an unwarranted invasion of 

privacy, the respondent may request 

confidential treatment pursuant to 

exemption 6 of the FOIA.6 To the extent 

a respondent submits information 

related to examination, operating, or 

condition reports prepared by, on behalf 

of, or for the use of a financial 

supervisory agency, the respondent may 

request confidential treatment pursuant 

to exemption 8 of the FOIA.7 The entity 

should separately designate any such 

information as ‘‘confidential 

commercial information’’ or 

‘‘confidential financial information,’’ 

and the Board will treat such designated 

information as confidential to the extent 

permitted by law, including the FOIA. 

Consultation outside the agency: An 

interagency working group responsible 

for reviewing this collection, comprised 

of representatives from the Board, OCC, 

and FDIC, collaborated on confirming 

that changes were needed to the FR 

2081c form for this clearance cycle. 

Board of Governors of the Federal Reserve 

System, December 17, 2020. 

Michele Taylor Fennell, 

Deputy Associate Secretary of the Board. 

[FR Doc. 2020–28329 Filed 12–22–20; 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 Notifications 

Related to Community Development 

and Public Welfare Investments of State 

Member Banks (FR H–6; OMB No. 


jbell on DSKJLSW7X2PROD with NOTICES
Federal Register / Vol. 85, No. 247 / Wednesday, December 23, 2020 / Notices 83955 

1 12 U.S.C. 338a. The Board also has the authority 

to require reports from state member banks (12 

U.S.C. 248(a) and 324). 

2 5 U.S.C. 552(b)(4). 

3 5 U.S.C. 552(b)(8). 

7100–0278). 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: Notifications Related to 

Community Development and Public 

Welfare Investments of State Member 

Banks. 

Agency form number: FR H–6. 

OMB control number: 7100–0278. 

Effective date: The revisions are 

effective immediately. 

Frequency: Event-generated. 

Respondents: State member banks. 

Estimated number of respondents: 

Post Notification, 132; and Application 

(Prior Approval), 74. 

Estimated average hours per response: 

Post Notification, 2; and Application 

(Prior Approval), 5. 

Estimated annual burden hours: Post 

Notification, 264; and Application (Prior 

Approval), 370. 

General description of report: 

Regulation H requires state member 

banks planning to make community 

development or public welfare 

investments to comply with the 

Regulation H notification requirements: 

(1) For investments that do not require 

prior Board approval, a written notice 

must be sent to the appropriate Federal 

Reserve Bank; and (2) for investments 

that do require prior Board approval, a 

request for approval must be sent to the 

appropriate Federal Reserve Bank. 

Legal authorization and 

confidentiality: Section 9(23) of the 

Federal Reserve Act authorizes the 

Board to prescribe regulations with 

regard to state member banks making 

investments primarily devoted to public 

welfare endeavors.1 The obligation to 

respond is mandatory. 

Individual respondents may request 

that information submitted to the Board 

through the FR H–6 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, 

which is both customarily and actually 

treated as private by the respondent, the 

information may be kept confidential 

under exemption 4 of the Freedom of 

Information Act (FOIA).2 Additionally, 

to the extent the respondent submits 

information related to examination, 

operating, or condition reports prepared 

by, on behalf of, or for the use of a 

financial supervisory agency, the 

information may be withheld from 

disclosure under FOIA exemption 8.3

Current actions: On September 17, 

2020, the Board published a notice in 

the Federal Register (85 FR 58052) 

requesting public comment for 60 days 

on the extension, with revision, of the 

FR H–6. The Board revised the FR H– 

6 by removing the notification 

requirement to submit the request for 

extension of the divestiture period when 

the bank cannot divest within the 

established time limit. This requirement 

has been listed on the form and in the 

supporting statement for a number of 

years, but is not contained in the 

regulations. The comment period for 

this notice expired on November 16, 

2020. The Board did not receive any 

comments. The revisions will be 

implemented as proposed. 

Board of Governors of the Federal Reserve 

System, December 17, 2020. 

Michele Taylor Fennell, 

Deputy Associate Secretary of the Board. 

[FR Doc. 2020–28326 Filed 12–22–20; 8:45 am] 

BILLING CODE 6210–01–P 

FEDERAL RESERVE SYSTEM 

Proposed Agency Information 

Collection Activities; Comment 

Request 

AGENCY: Board of Governors of the 

Federal Reserve System. 

ACTION: Notice, request for comment. 

SUMMARY: The Board of Governors of the 

Federal Reserve System (Board) invites 

comment on a proposal to extend for 

three years, without revision, the 

Interagency Bank Merger Act 

Application (FR 2070; OMB No. 7100– 

0171). 

DATES: Comments must be submitted on 

or before February 22, 2021. 

ADDRESSES: You may submit comments, 

identified by FR 2070, by any of the 

following methods: 

• Agency Website: https://

www.federalreserve.gov/. Follow the 

instructions for submitting comments at 

https://www.federalreserve.gov/apps/ 

foia/proposedregs.aspx. 

• Email: regs.comments@

federalreserve.gov. Include the OMB 

number in the subject line of the 

message. 

• FAX: (202) 452–3819 or (202) 452– 

3102. 

• Mail: Ann E. Misback, Secretary, 

Board of Governors of the Federal 

Reserve System, 20th Street and 

Constitution Avenue NW, Washington, 

DC 20551. 

All public comments are available 

from the Board’s website at https://

www.federalreserve.gov/apps/foia/ 

proposedregs.aspx 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 identifying or 

contact information. Public comments 

may also be viewed electronically or in 

paper in Room 146, 1709 New York 

Avenue NW, Washington, DC 20006, 

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—Shagufta Ahmed—Office of 

Information and Regulatory Affairs, 

Office of Management and Budget, New 

Executive Office Building, Room 10235, 


jbell on DSKJLSW7X2PROD with NOTICES