42296 Federal Register / Vol. 83, No. 162 / Tuesday, August 21, 2018 / Notices 

1This includes any foreign bank or company that 

is, or is treated as, a bank holding company under 

section 8(a) of the International Banking Act of 

1978, and that has $50 billion or more in total 

consolidated assets. 2This estimate captures the annual time that 

complex, domestic filers will spend complying with 

this collection, given that eight of these filers will 

only submit two resolution plans over the period 

covered by this notice. The estimate therefore 

represents two-thirds of the time these eight firms 

are estimated to spend on each resolution plan 

submission. 

SUMMARY: In this document, the 

Commission released a public notice 

announcing the next meeting of the 

North American Numbering Council 

(NANC). At this meeting, the NANC will 

consider a report from its Numbering 

Administration Oversight Working 

Group on the technical requirements to 

consolidate the services of the North 

American Numbering Plan 

Administrator and the Pooling 

Administrator. In addition, the FCC will 

provide more information on the new 

Interoperable Video Calling Working 

Group. The NANC will also continue its 

discussions on how to modernize and 

foster more efficient number 

administration in the United States. 

DATES: Thursday, September 13, 2018, 

9:30 a.m. 

ADDRESSES: Requests to make an oral 

statement or provide written comments 

to the NANC should be sent to Darlene 

Biddy, Competition Policy Division, 

Wireline Competition Bureau, Federal 

Communications Commission, Portals 

II, 445 12th Street SW, Room 5–C150, 

Washington, DC 20554. 

FOR FURTHER INFORMATION CONTACT: 

Darlene Biddy at (202) 418–1585 or 

Darlene.Biddy@fcc.gov. The fax number 

is: (202) 418–1413. The TTY number is: 

(202) 418–0484. 

SUPPLEMENTARY INFORMATION: The 

NANC meeting is open to the public. 

The FCC will accommodate as many 

attendees as possible; however, 

admittance will be limited to seating 

availability. The Commission will also 

provide audio coverage of the meeting. 

Other reasonable accommodations for 

people with disabilities are available 

upon request. Request for such 

accommodations should be submitted 

via email to fcc504@fcc.gov or by calling 

the Consumer and governmental Affairs 

Bureau at (202) 418–0530 (voice), (202) 

418–0432 (TTY). Such requests should 

include a detailed description of the 

accommodation needed. In addition, 

please allow at least five days advance 

notice for accommodation requests; last 

minute requests will be accepted but 

may not be possible to accommodate. 

Members of the public may submit 

comments to the NANC in the FCC’s 

Electronic Comment Filing System, 

ECFS, at www.fcc.gov/ecfs. Comments to 

the NANC should be filed in CC Docket 

No. 92–237. 

More information about the NANC is 

available at https://www.fcc.gov/aboutfcc/advisory-committees/general/northamerican-numbering-council. You may 

also contact Marilyn Jones, DFO of the 

NANC, at Marilyn.jones@fcc.gov, or 

(202) 418–2357, Michelle Sclater, 

Alternate DFO, at michelle.sclater@

fcc.gov, or (202) 418–0388. 

This is a summary of the 

Commission’s document in CC Docket 

No. 92–237, DA 18–815 released August 

6, 2018. The complete text in this 

document is available for public 

inspection and copying during normal 

business hours in the FCC Reference 

Information Center, Portals II, 445 12th 

Street SW, Room CY–A257, 

Washington, DC 20554. The document 

may also be purchased from the 

Commission’s duplicating contractor, 

Best Copy and Printing, Inc., 445 12th 

Street SW, Room CY–B402, Washington, 

DC 20554, telephone (800) 378–3160 or 

(202) 863–2893, facsimile (202) 863– 

2898, or via the internet at http://

www.bcpiweb.com. It is available on the 

Commission’s website at http://

www.fcc.gov. 

* The Agenda may be modified at the 

discretion of the NANC Chairman with 

the approval of the Designated Federal 

Officer (DFO). 

Federal Communications Commission. 

Marilyn Jones, 

Senior Counsel for Number Administration, 

Wireline Competition Bureau. 

[FR Doc. 2018–17880 Filed 8–20–18; 8:45 am] 

BILLING CODE 6712–01–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, with 

revision, the mandatory Reporting 

Requirements Associated with 

Regulation QQ (OMB No. 7100–0346). 

The revisions are applicable as of July 

31, 2018. 

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. Telecommunications Device 

for the Deaf (TDD) users may contact 

(202) 263–4869, Board of Governors of 

the Federal Reserve System, 

Washington, DC 20551. 

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, the Office of Management and 

Budget (OMB) delegated to the Board 

authority under the Paperwork 

Reduction Act (PRA) to approve of and 

assign OMB control numbers to 

collection of information requests and 

requirements conducted or sponsored 

by the Board. Board-approved 

collections of information are 

incorporated into the official OMB 

inventory of currently approved 

collections of information. Copies of the 

Paperwork Reduction Act Submission, 

supporting statements and approved 

collection of information instrument(s) 

are placed into OMB’s public docket 

files. The Federal Reserve may not 

conduct or sponsor, and the respondent 

is not required to respond to, an 

information collection that has been 

extended, revised, or implemented on or 

after October 1, 1995, unless it displays 

a currently valid OMB control number. 

Final Approval Under OMB Delegated 

Authority of the Extension for Three 

Years, With Revision, of the Following 

Report: 

Report title: Reporting Requirements 

Associated with Regulation QQ. 

Agency form number: Reg QQ. 

OMB control number: 7100–0346. 

Frequency: Annually. 

Respondents: Bank holding 

companies 1 with assets of $50 billion or 

more and nonbank financial firms 

designated by the Financial Stability 

Oversight Council for supervision by the 

Board. 

Estimated number of respondents: 

Reduced Reporters: 72; Tailored 

Domestic Reporters: 11; Tailored 

Foreign Reporters: 6; Full Domestic 

Reporters: 3; Full Foreign Reporters: 6; 

Complex, Domestic Filers: 9; Complex, 

Foreign Filers: 4. 

Estimated average hours per response: 

Reduced Reporters: 60 hours; Tailored 

Domestic Reporters: 9,000 hours; 

Tailored Foreign Reporters: 1,130 hours; 

Full Domestic Reporters: 26,000 hours; 

Full Foreign Reporters: 2,000 hours; 

Complex, Domestic Filers: 79,522 

hours;2 Complex, Foreign Filers: 55,500 

hours. 

Estimated annual burden hours: 

Reduced Reporters: 4,320 hours; 


sradovich on DSK3GMQ082PROD with NOTICES
Federal Register / Vol. 83, No. 162 / Tuesday, August 21, 2018 / Notices 42297 

3Public Law 115–174, 132 Stat. 1296 (2018). 

EGRRCPA increases the $50 billion asset threshold 

in section 165 in two stages. Immediately on the 

date of enactment, bank holding companies with 

total consolidated assets of less than $100 billion 

were no longer subject to section 165. Eighteen 

months after the date of enactment, the threshold 

is raised to $250 billion. EGRRCPA also provides 

that the Board may apply any enhanced prudential 

standard to bank holding companies between $100 

billion and $250 billion in total consolidated assets. 

4The total estimated annual burden reflects that 

the Board and FDIC will not enforce the final rules 

establishing resolution planning requirements in a 

manner inconsistent with the amendments made by 

EGRRCPA by removing the approximately 20 

smaller and less complex firms with global total 

consolidated assets of less than $100 billion and 

reflecting a corresponding reduction in the 

estimated annual burden hours associated with the 

notice of approximately 29,330 (two percent). Firms 

with between $100 billion and $250 billion in total 

consolidated assets continue to be reflected in the 

burden estimates, as EGRRCPA provides that the 

threshold is not raised to $250 billion for eighteen 

months and that the Board may determine to 

continue to apply enhanced prudential standards to 

these firms beyond that period. 

5This group currently consists of Bank of 

America Corporation; Bank of New York Mellon 

Corporation; Citigroup, Inc.; Goldman Sachs Group, 

Inc.; JPMorgan Chase & Co.; Morgan Stanley; State 

Street Corporation; and Wells Fargo & Company. 

6 Depending upon the circumstances of any 

specific FOIA request, other exemptions may also 

apply. 

Tailored Domestic Reporters: 99,000 

hours; Tailored Foreign Reporters: 6,780 

hours; Full Domestic Reporters: 78,000 

hours; Full Foreign Reporters: 12,000 

hours; Complex, Domestic Filers: 

715,697 hours; Complex Foreign Filers: 

222,000 hours. Total estimated annual 

burden: 1,137,797. 

General description of report: 

Regulation QQ (12 CFR part 243) 

requires each bank holding company 

(BHC) with assets of $50 billion or more 

and nonbank financial firms designated 

by the Financial Stability Oversight 

Council (FSOC) for supervision by the 

Board (collectively, covered companies) 

to report annually to the Board and the 

FDIC the plan of such company for 

rapid and orderly resolution under the 

U.S. Bankruptcy Code in the event of 

the company’s material financial 

distress or failure. The plans submitted 

pursuant to Regulation QQ, and 

identified in this information collection, 

are reviewed jointly by the Board and 

Federal Deposit Insurance Corporation 

(FDIC) (collectively, the Agencies). On 

May 24, 2018, the Economic Growth, 

Regulatory Reform, and Consumer 

Protection Act (EGRRCPA) 3 amended 

provisions in the Dodd-Frank Wall 

Street Reform and Consumer Protection 

Act (Dodd-Frank Act) as well as other 

statutes administered by the Board. The 

amendments made by EGRRCPA 

provide for additional tailoring of 

various provisions of Federal banking 

laws, including an increase in the $50 

billion asset threshold 4 in section 165 

of the Dodd-Frank Act, which provides 

the statutory basis for Regulation QQ. 

On September 28, 2017, the Board and 

the FDIC announced the postponement 

of the next plan submission of the 

largest and most complex, domestic 

BHCs 5 from July 1, 2018, to July 1, 

2019, to permit the agencies to provide 

meaningful feedback on the July 2017 

plans and provide the BHCs with 

sufficient time to incorporate the 

feedback into their next plans. If these 

firms were filing each year covered by 

this notice, instead of only twice, the 

total estimated annual burden for the 

reporting of this information collection 

would be 1,439,100 hours instead of the 

aforementioned 1,137,797. 

The Board is exploring ways to 

improve the resolution planning 

process. Such improvements could 

include, for example, extending the 

cycle for plan submissions; focusing 

certain filings on key topics of interest 

and material changes; or reducing the 

submission requirements for firms with 

small, simple, and domestically focused 

activities. The Board will solicit 

comments on the effects that any such 

changes would have on paperwork 

burden if and when the changes are 

proposed. 

Legal authorization and 

confidentiality: This information 

collection is mandatory pursuant to 

section 165(d)(8) of the Dodd-Frank Act 

(Pub. L. 111–203, 124 Stat. 1376, 1426– 

1427), 12 U.S.C. 5365(d)(8), which 

requires the Board and the FDIC to 

jointly issue rules implementing the 

provisions of section 165(d) of the 

Dodd-Frank Act. The Board’s Legal 

Division has determined that under 

section 112(d)(5)(A) of the Dodd-Frank 

Act, the Board and the FDIC ‘‘shall 

maintain the confidentiality of any data, 

information, and reports submitted 

under’’ Title I (which includes section 

165(d), the authority this regulation is 

promulgated under) of the Dodd-Frank 

Act. 

The Board and the FDIC will assess 

the confidentiality of resolution plans 

and related material in accordance with 

FOIA and the Board’s and the FDIC’s 

implementing regulations (12 CFR part 

261 (Board); 12 CFR part 309 (FDIC)). 

The Board and the FDIC expect that 

large portions of the submissions will 

contain or consist of ‘‘trade secrets and 

commercial or financial information 

obtained from a person and privileged 

or confidential’’ and information that 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.’’ 

This information is subject to 

withholding under exemptions 4 and 8 

of the Freedom of Information Act 

(FOIA), 5 U.S.C. 552(b)(4) and 

552(b)(8).6 The Board and the FDIC also 

recognize, however, that the regulation 

calls for the submission of details 

regarding covered companies that are 

publicly available or otherwise are not 

sensitive and should be made public. In 

order to address this, the regulation 

requires resolution plans to be divided 

into two portions: A public section and 

a confidential section. 

In addition to any responses to 

guidance from the Agencies, the public 

section of the resolution plan should 

consist of an executive summary of the 

resolution plan that describes the 

business of the covered company and 

includes, to the extent material to an 

understanding of the covered company: 

(i) The names of material entities; (ii) a 

description of core business lines; (iii) 

consolidated or segment financial 

information regarding assets, liabilities, 

capital and major funding sources; (iv) 

a description of derivative activities and 

hedging activities; (v) a list of 

memberships in material payment, 

clearing, and settlement systems; (vi) a 

description of foreign operations; (vii) 

the identities of material supervisory 

authorities; (viii) the identities of the 

principal officers; (ix) a description of 

the corporate governance structure and 

processes related to resolution planning; 

(x) a description of material 

management information systems; and 

(xi) a description, at a high level, of the 

covered company’s resolution strategy, 

covering such items as the range of 

potential purchasers of the covered 

company, its material entities and core 

business lines. 

While the information in the public 

section of a resolution plan should be 

sufficiently detailed to allow the public 

to understand the business of the 

covered company, such information can 

be high level in nature and based on 

publicly available information. The 

public section will be made available to 

the public exactly as submitted by the 

covered companies as soon as possible 

following receipt by the agencies. A 

covered company should submit a 

properly substantiated request for 

confidential treatment of any details in 

the confidential section that it believes 

are subject to withholding under 

exemption 4 of the FOIA. In addition, 

the Board and the FDIC will make 

formal exemption and segregability 

determinations if and when a plan is 

requested under the FOIA. 


sradovich on DSK3GMQ082PROD with NOTICES
42298 Federal Register / Vol. 83, No. 162 / Tuesday, August 21, 2018 / Notices 

7These recommended changes include: 

(i) Extending the annual resolution plan filing 

cycle to a two-year cycle; 

(ii) providing additional clarity on filing 

deadlines; 

(iii) requiring that any agency guidance be 

provided more than 12 months in advance of each 

filing deadline; 

(iv) allowing firms to satisfy some of their 

Regulation QQ requirements by incorporating their 

IDI plans by reference; 

(v) providing for further tailoring based on the 

systemic risk posed by each firm, 

(vi) further reducing the need for duplicative 

reporting; 

(vii) adjusting the forecasting expected from the 

firms; 

(viii) providing greater guidance regarding 

regulatory expectations related to the resolution of 

financial market utilities; 

(ix) eliminating the strategic analysis section from 

tailored plans; 

(x) providing an opportunity for notice and 

comment on any new information requirements, the 

framework used for assessing resolution plans, and 

the procedures related to remediation; 

(xi) requiring the agencies to provide feedback on 

plans within six months of plan submission; 

(xii) refraining from making feedback provided to 

the firms public or providing firms more time to 

consider the feedback before it is made public; and 

(xiii) reconsidering the procedures the Board and 

FDIC undertake to engage with firms. 

8See 12 U.S.C. 5365(d)(8) (requiring the Board 

and FDIC to issue joint rules implementing the 

Dodd-Frank Act’s resolution planning 

requirements), 12 CFR. Part 243 (the Board’s 

resolution planning rule), and 12 CFR. Part 381 (the 

FDIC’s resolution planning rule). Aspects of the 

statute and regulations require joint actions or 

determinations by the Board and FDIC and 

therefore the agencies have jointly developed a 

coordinated resolution plan review process. 

Current actions: On January 22, 2018 

the Board published a notice in the 

Federal Register (83 FR 2983) 

requesting public comment for 60 days 

on the extension, with revision, of the 

Reporting Requirements Associated 

with Resolution Plans (Regulation QQ). 

The revision to the clearance is burden 

increase due to a reassessment of the 

burden hours associated with 

responding to the informational 

requirements of Regulation QQ and to 

guidance, feedback, and additional 

requests for information by the agencies 

as part of the iterative resolution 

planning process. The increase in 

burden is mitigated by the 

postponement of the July 2018 

submission date for the resolution plans 

of the complex domestic filers, which 

account for the largest percentage of 

overall burden hours. The comment 

period for this notice expired on March 

23, 2018. The Board received one 

comment on the proposal. The 

commenter recommended a number of 

potential changes to Regulation QQ 

intended to enhance the quality of the 

information collected pursuant to the 

regulation and reduce the burden of the 

information collection requirements.7

The Board is not adopting any of the 

recommended changes at this time. 

Either a revision to the Board’s 

Regulation QQ or joint action with the 

FDIC would be necessary to implement 

each of the recommended changes. Most 

of the recommendations would require 

changes to the Board’s Regulation QQ, 

which could only be accomplished 

pursuant to a rulemaking. In addition, 

the Board could not unilaterally take the 

actions requested by these comments, 

even those that would not require a 

rulemaking, as they fall under the 

purview of a rule that the Board 

proposed jointly with the FDIC and a 

process that is jointly administered by 

the two agencies.8 However, the Board 

will consider the recommended changes 

in due course as it determines, in 

consultation with the FDIC, whether to 

conduct a joint rulemaking. The 

revisions will be implemented as 

proposed. 

Board of Governors of the Federal Reserve 

System, August 15, 2018. 

Ann Misback, 

Secretary of the Board. 

[FR Doc. 2018–17964 Filed 8–20–18; 8:45 am] 

BILLING CODE 6210–01–P 

FEDERAL RESERVE SYSTEM 

Notice of Proposals To Engage in or 

To Acquire Companies Engaged in 

Permissible Nonbanking Activities 

The companies listed in this notice 

have given notice under section 10 of 

the Home Owners’ Loan Act (12 U.S.C. 

1467a) (HOLA) and Regulation LL, (12 

CFR part 238) to engage de novo, or to 

acquire or control voting securities or 

assets of a company, including the 

companies listed below, that engages 

either directly or through a subsidiary or 

other company, in a nonbanking activity 

that is listed in § 238.53 of Regulation 

LL (12 CFR 225.53). Unless otherwise 

noted, these activities will be conducted 

throughout the United States. 

Each notice is available for inspection 

at the Federal Reserve Bank indicated. 

The notice also will be available for 

inspection at the offices of the Board of 

Governors. Interested persons may 

express their views in writing on the 

question whether the proposal complies 

with the standards of section 10(c)(4)(B) 

of the HOLA 12 U.S.C. 1467a(c)(4)(B). 

Unless otherwise noted, comments 

regarding the notices must be received 

at the Reserve Bank indicated or the 

offices of the Board of Governors not 

later than September 4, 2018. 

A. Federal Reserve Bank of Chicago 

(Colette A. Fried, Assistant Vice 

President) 230 South LaSalle Street, 

Chicago, Illinois 60690–1414: 

1. McHenry Bancorp, Inc., McHenry, 

Illinois; to engage de novo in purchasing 

and servicing loans, and holding and 

managing improved real estate, 

pursuant to sections 238.53(b)(1) and (8) 

of Regulation LL. 

Board of Governors of the Federal Reserve 

System, August 16, 2018. 

Ann Misback, 

Secretary of the Board. 

[FR Doc. 2018–17975 Filed 8–20–18; 8:45 am] 

BILLING CODE 6210–01–P 

FEDERAL RESERVE SYSTEM 

Formations of, Acquisitions by, and 

Mergers of Bank Holding Companies 

The companies listed in this notice 

have applied to the Board for approval, 

pursuant to the Bank Holding Company 

Act of 1956 (12 U.S.C. 1841 et seq.) 

(BHC Act), Regulation Y (12 CFR part 

225), and all other applicable statutes 

and regulations to become a bank 

holding company and/or to acquire the 

assets or the ownership of, control of, or 

the power to vote shares of a bank or 

bank holding company and all of the 

banks and nonbanking companies 

owned by the bank holding company, 

including the companies listed below. 

The applications listed below, as well 

as other related filings required by the 

Board, are available for immediate 

inspection at the Federal Reserve Bank 

indicated. The applications will also be 

available for inspection at the offices of 

the Board of Governors. Interested 

persons may express their views in 

writing on the standards enumerated in 

the BHC Act (12 U.S.C. 1842(c)). If the 

proposal also involves the acquisition of 

a nonbanking company, the review also 

includes whether the acquisition of the 

nonbanking company complies with the 

standards in section 4 of the BHC Act 

(12 U.S.C. 1843). Unless otherwise 

noted, nonbanking activities will be 

conducted throughout the United States. 

Unless otherwise noted, comments 

regarding each of these applications 

must be received at the Reserve Bank 

indicated or the offices of the Board of 

Governors not later than September 18, 

2018. 

A. Federal Reserve Bank of Dallas 

(Robert L. Triplett III, Senior Vice 

President) 2200 North Pearl Street, 

Dallas, Texas 75201–2272: 

1. Woodforest Financial Group 

Employee Stock Ownership Plan, The 

Woodlands, Texas; and Woodforest 

Financial Group Employee Stock 

Ownership Trust, Spring, Texas; to 

acquire up to an additional 28 percent 


sradovich on DSK3GMQ082PROD with NOTICES