13384 Federal Register / Vol. 86, No. 43 / Monday, March 8, 2021 / Notices 

1 12 U.S.C. 1817(k). 

2 12 U.S.C. 375b. The Board also has the authority 

to require reports from state member banks (12 

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

3 Section 306(o) of the Federal Deposit Insurance 

Corporation Improvement Act of 1991 contains a 

similar authorization. 

4 5 U.S.C. 552(b)(8). 

Board of Governors of the Federal Reserve 

System, March 1, 2021. 

Michele Taylor Fennell, 

Deputy Associate Secretary of the Board. 

[FR Doc. 2021–04664 Filed 3–5–21; 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, without revision, the 

Recordkeeping and Disclosure 

Requirements Associated with 

Regulation O (FR O; OMB No. 7100– 

0382). FR O received a temporary sixmonth clearance on November 10, 2020. 

This action is to extend that clearance 

for three years. 

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. 

A copy of the Paperwork Reduction 

Act (PRA) OMB submission, including 

the reporting form and instructions, 

supporting statement, and other 

documentation will be placed into 

OMB’s public docket files. These 

documents also are 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. 

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. Copies of the 

PRA Submission, supporting 

statements, and approved collection of 

information instrument(s) are placed 

into OMB’s public docket files. 

Final Approval Under OMB Delegated 

Authority of the Extension for Three 

Years, Without Revision, of the 

Following Information Collection 

Report title: Recordkeeping and 

Disclosure Requirements Associated 

with Regulation O. 

Agency form number: FR O. 

OMB control number: 7100–0382. 

Frequency: As needed. 

Respondents: Member banks. 

Estimated number of respondents: 

Recordkeeping: 1,570; disclosure: 1,570. 

Estimated average hours per response: 

Recordkeeping: 4; disclosure; 2. 

Estimated annual burden hours: 

Recordkeeping: 6,280; disclosure: 3,140. 

General description of report: The 

Board’s Regulation O—Loans to 

Executive Officers, Directors, and 

Principal Shareholders of Member 

Banks (12 CFR part 215) governs any 

extension of credit made by a member 

bank to an executive officer, director, or 

principal shareholder of the member 

bank, of any company of which the 

member bank is a subsidiary, and of any 

other subsidiary of that company. It 

prohibits such extensions of credit 

unless they are made on substantially 

the same terms (including interest rates 

and collateral) as those prevailing at the 

time for comparable transactions by the 

bank with other persons who are not 

employed by the bank and do not 

involve more than the normal risk of 

repayment or present other unfavorable 

features. Sections 215.8 and 215.9 of 

Regulation O contain recordkeeping and 

disclosure requirements on member 

banks. 

Pursuant to section 215.8 of 

Regulation O, respondents must 

maintain records necessary for 

compliance with the requirements of 

Regulation O. Any recordkeeping 

method adopted by a respondent shall 

identify, through an annual survey, all 

insiders of the respondent and maintain 

records of all extensions of credit to 

insiders of the respondent, including 

the amount and terms of each such 

extension of credit. Additionally, any 

recordkeeping method adopted by a 

respondent shall maintain records of 

extensions of credit to insiders of the 

respondent’s affiliates by using either 

the survey method or borrower inquiry 

method, as set forth in Regulation O, or 

a different recordkeeping method if the 

appropriate federal banking agency 

determines that the respondent’s 

method is at least as effective as the 

listed methods. 

Pursuant to section 215.9 of 

Regulation O, upon receipt of a written 

request from the public, a respondent 

must make available the names of each 

of its executive officers and each of its 

principal shareholders to whom, or to 

whose related interests, the member 

bank had outstanding as of the end of 

the latest previous quarter of the year, 

an extension of credit that, when 

aggregated with all other outstanding 

extensions of credit at such time from 

the member bank to such person and to 

all related interests of such person, 

equaled or exceeded 5 percent of the 

member bank’s capital and unimpaired 

surplus or $500,000, whichever amount 

is less. Respondents are not required to 

disclose the specific amounts of 

individual extensions of credit. 

Additionally, each respondent must 

maintain records of all requests for the 

information described above and the 

disposition of such requests. These 

records may be disposed of after two 

years from the date of the request. 

Legal authorization and 

confidentiality: The FR O is authorized 

by section 7 of the Federal Deposit 

Insurance Act (section 7) 1 and section 

22(6) of the Federal Reserve Act (section 

22(h)).2 Section 7 authorizes the Board 

to require state member banks to report 

and publicly disclose information 

concerning extensions of credit by the 

state member bank to its executive 

officers, principal shareholders, or 

related interests of those persons. 

Section 22(h) authorizes the Board to 

prescribe rules related to extensions of 

credit to executive officers, directors, 

and principal shareholders.3

The obligation to respond is 

mandatory. The information disclosed 

under the disclosure requirements of 

Regulation O is not confidential. The 

information that is subject to the 

recordkeeping requirements of 

Regulation O would be maintained at 

each state member bank. For this 

information, the Freedom of Information 

Act (‘‘FOIA’’) would only be implicated 

if the Board obtained such records as 

part of the examination or supervision 

of a banking organization. In the event 

the records are obtained by the Board as 

part of an examination or supervision of 

a financial institution, this information 

may be considered confidential 

pursuant to exemption 8 of the FOIA, 

which protects information contained in 

‘‘examination, operating, or condition 

reports’’ obtained in the bank 

supervisory process.4 In addition, in 

these cases, the information may also be 


jbell on DSKJLSW7X2PROD with NOTICES
Federal Register / Vol. 86, No. 43 / Monday, March 8, 2021 / Notices 13385 

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

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

kept confidential under exemption 4 for 

the FOIA, which protects commercial or 

financial information obtained from a 

person that is privileged or 

confidential.5 Finally, this information 

may be kept confidential under 

exemption 6, which protects 

information ‘‘the disclosure of which 

would constitute a clearly unwarranted 

invasion of personal privacy.’’ 6

Current actions: On April 22, 2020, 

the Board published an interim final 

rule in the Federal Register (85 FR 

22348) requesting public comment for 

60 days on the extension for three years 

of the FR O. The Board did not receive 

any comments relevant to the PRA. 

Board of Governors of the Federal Reserve 

System, March 2, 2021. 

Michele Taylor Fennell, 

Deputy Associate Secretary of the Board. 

[FR Doc. 2021–04690 Filed 3–5–21; 8:45 am] 

BILLING CODE 6210–01–P 

FEDERAL TRADE COMMISSION 

[File No. 202 3122] 

Gennex Media LLC; Analysis of 

Proposed Consent Order To Aid Public 

Comment 

AGENCY: Federal Trade Commission. 

ACTION: Proposed Consent Agreement; 

Request for Comment. 

SUMMARY: The consent agreement in this 

matter settles alleged violations of 

federal law prohibiting unfair or 

deceptive acts or practices. The attached 

Analysis of Proposed Consent Order to 

Aid Public Comment describes both the 

allegations in the draft complaint and 

the terms of the consent order— 

embodied in the consent agreement— 

that would settle these allegations. 

DATES: Comments must be received on 

or before April 5, 2021. 

ADDRESSES: Interested parties may file 

comments online or on paper by 

following the instructions in the 

Request for Comment part of the 

SUPPLEMENTARY INFORMATION section 

below. Please write ‘‘Gennex Media 

LLC; File No. 202 3122’’ on your 

comment, and file your comment online 

at https://www.regulations.gov by 

following the instructions on the webbased form. If you prefer to file your 

comment on paper, mail your comment 

to the following address: Federal Trade 

Commission, Office of the Secretary, 

600 Pennsylvania Avenue NW, Suite 

CC–5610 (Annex D), Washington, DC 

20580, or deliver your comment to the 

following address: Federal Trade 

Commission, Office of the Secretary, 

Constitution Center, 400 7th Street SW, 

5th Floor, Suite 5610 (Annex D), 

Washington, DC 20024. 

FOR FURTHER INFORMATION CONTACT: Julia 

Solomon Ensor (202–326–2377), Bureau 

of Consumer Protection, Federal Trade 

Commission, 600 Pennsylvania Avenue 

NW, Washington, DC 20580. 

SUPPLEMENTARY INFORMATION: Pursuant 

to Section 6(f) of the Federal Trade 

Commission Act, 15 U.S.C. 46(f), and 

FTC Rule 2.34, 16 CFR 2.34, notice is 

hereby given that the above-captioned 

consent agreement containing a consent 

order to cease and desist, having been 

filed with and accepted, subject to final 

approval, by the Commission, has been 

placed on the public record for a period 

of thirty (30) days. The following 

Analysis to Aid Public Comment 

describes the terms of the consent 

agreement and the allegations in the 

complaint. An electronic copy of the 

full text of the consent agreement 

package can be obtained at https://

www.ftc.gov/news-events/commissionactions. 

You can file a comment online or on 

paper. For the Commission to consider 

your comment, we must receive it on or 

before April 5, 2021. Write ‘‘Gennex 

Media LLC; File No. 202 3122’’ on your 

comment. Your comment—including 

your name and your state—will be 

placed on the public record of this 

proceeding, including, to the extent 

practicable, on the https://

www.regulations.gov website. 

Due to the COVID–19 public health 

emergency and the agency’s heightened 

security screening, postal mail 

addressed to the Commission will be 

subject to delay. We strongly encourage 

you to submit your comments online 

through the https://www.regulations.gov 

website. 

If you prefer to file your comment on 

paper, write ‘‘Gennex Media LLC; File 

No. 202 3122’’ on your comment and on 

the envelope, and mail it to the 

following address: Federal Trade 

Commission, Office of the Secretary, 

600 Pennsylvania Avenue NW, Suite 

CC–5610 (Annex D), Washington, DC 

20580; or deliver your comment to the 

following address: Federal Trade 

Commission, Office of the Secretary, 

Constitution Center, 400 7th Street SW, 

5th Floor, Suite 5610 (Annex D), 

Washington, DC 20024. If possible, 

submit your paper comment to the 

Commission by courier or overnight 

service. 

Because your comment will be placed 

on the publicly accessible website at 

https://www.regulations.gov, you are 

solely responsible for making sure your 

comment does not include any sensitive 

or confidential information. In 

particular, your comment should not 

include sensitive personal information, 

such as your or anyone else’s Social 

Security number; date of birth; driver’s 

license number or other state 

identification number, or foreign 

country equivalent; passport number; 

financial account number; or credit or 

debit card number. You are also solely 

responsible for making sure your 

comment does not include sensitive 

health information, such as medical 

records or other individually 

identifiable health information. In 

addition, your comment should not 

include any ‘‘trade secret or any 

commercial or financial information 

which . . . is privileged or 

confidential’’—as provided by Section 

6(f) of the FTC Act, 15 U.S.C. 46(f), and 

FTC Rule 4.10(a)(2), 16 CFR 4.10(a)(2)— 

including in particular competitively 

sensitive information such as costs, 

sales statistics, inventories, formulas, 

patterns, devices, manufacturing 

processes, or customer names. 

Comments containing material for 

which confidential treatment is 

requested must be filed in paper form, 

must be clearly labeled ‘‘Confidential,’’ 

and must comply with FTC Rule 4.9(c). 

In particular, the written request for 

confidential treatment that accompanies 

the comment must include the factual 

and legal basis for the request, and must 

identify the specific portions of the 

comment to be withheld from the public 

record. See FTC Rule 4.9(c). Your 

comment will be kept confidential only 

if the General Counsel grants your 

request in accordance with the law and 

the public interest. Once your comment 

has been posted on the https://

www.regulations.gov website—as legally 

required by FTC Rule 4.9(b)—we cannot 

redact or remove your comment from 

that website, unless you submit a 

confidentiality request that meets the 

requirements for such treatment under 

FTC Rule 4.9(c), and the General 

Counsel grants that request. 

Visit the FTC website at http://

www.ftc.gov to read this Notice and the 

news release describing the proposed 

settlement. The FTC Act and other laws 

that the Commission administers permit 

the collection of public comments to 

consider and use in this proceeding, as 

appropriate. The Commission will 

consider all timely and responsive 

public comments that it receives on or 

before April 5, 2021. For information on 

the Commission’s privacy policy, 

including routine uses permitted by the 

Privacy Act, see https://www.ftc.gov/ 

site-information/privacy-policy. 


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