Federal Register / Vol. 87, No. 16 / Tuesday, January 25, 2022 / Notices 3807 

SUMMARY OF ESTIMATED ANNUAL BURDENS (OMB NO. 3064–0095)—Continued 

IC description 

Type of 

burden 

(obligation to 

respond) 

Frequency of 

response 

Number of 

respondents 

Number of 

responses per 

respondent 

Hours per 

response 

Annual burden 

(hours) 

Ongoing Burden: 

Bank Protection Act Compliance 

Program—Routine Revisions.

Recordkeeping 

(Mandatory).

Annually ......... 2,880 1 5 14,400 

Bank Protection Act Compliance 

Program—Significant Revisions.

Recordkeeping 

(Mandatory).

Annually ......... 320 1 35 11,200 

Total Annual Burden Hours ...... ........................ ........................ ........................ ........................ ........................ 50,450 

Source: FDIC. 

General Description of Collection: The 

collection requires insured state 

nonmember banks to comply with the 

Bank Protection Act and to review bank 

security programs The Bank Protection 

Act of 1968 (12 U.S.C. 1881–1884) 

requires each Federal supervisory 

agency to promulgate rules establishing 

minimum standards for security devices 

and procedures to discourage financial 

crime and to assist in the identification 

of persons who commit such crimes. To 

avoid the necessity of constantly 

updating a technology-based regulation, 

the FDIC takes a flexible approach to 

implementing this statute. It requires 

each insured nonmember bank to 

designate a security officer who will 

administer a written security program. 

The security program must: (1) Establish 

procedures for opening and closing for 

business and for safekeeping valuables; 

(2) establish procedures that will assist 

in identifying persons committing 

crimes against the bank; (3) provide for 

initial and periodic training of 

employees in their responsibilities 

under the security program; and (4) 

provide for selecting, testing, operating 

and maintaining security devices as 

prescribed in the regulation. In addition, 

the FDIC requires the security officer to 

report at least annually to the bank’s 

board of directors on the effectiveness of 

the security program. 

There is no change in the method or 

substance of the collection. The 48,683 

increase in burden hours is the result of 

the agency re-evaluating the time it 

takes for recordkeeping and reporting 

associated with the rule, and including 

new implementation burdens for new 

entities and entities reviewing their 

policies in light of mergers and other 

organizational changes. 

2. Title: Mutual-to-Stock Conversion 

of State Savings Banks. 

OMB Number: 3064–0117. 

Form Numbers: None. 

Affected Public: Insured state savings 

associations. 

Burden Estimate: 

SUMMARY OF ESTIMATED ANNUAL BURDEN (OMB NO. 3064–0117) 

Information collection description 

Type of 

burden 

(obligation to 

respond) 

Frequency of 

response 

Number of 

respondents 

Hours per 

response 

Annual burden 

(hours) 

Application or Notice to engage in certain activities ........... Reporting ....... On occasion ... 5 250 1,250 

Total Annual Burden (Hours) ....................................... ........................ ........................ ........................ ........................ 1,250 

Source: FDIC. 

General Description of Collection: 

State savings associations must file a 

notice of intent to convert to stock form, 

and provide the FDIC with copies of 

documents filed with state and federal 

banking and/or securities regulators in 

connection with any proposed mutualto-stock conversion. There is no change 

in the method or substance of the 

collection. 

Request for Comment 

Comments are invited on: (a) Whether 

the collection of information is 

necessary for the proper performance of 

the FDIC’s functions, including whether 

the information has practical utility; (b) 

the accuracy of the estimates of the 

burden of the information collection, 

including the validity of the 

methodology and assumptions used; (c) 

ways to enhance the quality, utility, and 

clarity of the information to be 

collected; and (d) ways to minimize the 

burden of the collection of information 

on respondents, including through the 

use of automated collection techniques 

or other forms of information 

technology. All comments will become 

a matter of public record. 

Dated at Washington, DC, on January 19, 

2022. 

Federal Deposit Insurance Corporation. 

James P. Sheesley, 

Assistant Executive Secretary. 

[FR Doc. 2022–01313 Filed 1–24–22; 8:45 am] 

BILLING CODE 6714–01–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 Notice 

Claiming Status as an Exempt Transfer 

Agent (FR 4013; OMB No. 7100–0137). 

DATES: Comments must be submitted on 

or before March 28, 2022. 

ADDRESSES: You may submit comments, 

identified by FR 4013, by any of the 

following methods: 


khammond on DSKJM1Z7X2PROD with NOTICES
3808 Federal Register / Vol. 87, No. 16 / Tuesday, January 25, 2022 / Notices 

1See 15 U.S.C. 78c(a)(25) (defining ‘‘transfer 

agent’’). 

2 15 U.S.C. 78b, 78q(a)(3), 78q–1(c), and 78w(a). 

3Additionally, 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). 

• 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 or FR 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 confidential 

business information, identifying 

information, 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 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, Washington, DC 20551, (202) 

452–3829. 

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 https:// 

www.federalreserve.gov/apps/ 

reportforms/review.aspx or may be 

requested from the agency clearance 

officer, whose name appears above. 

Final versions of these documents will 

be made available at https://

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

approved. 

Request for Comment on Information 

Collection Proposal 

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 collection of 

information is 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 collection, 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, 

Without Revision, the Following 

Information Collection 

Report title: Notice Claiming Status as 

an Exempt Transfer Agent. 

Agency form number: FR 4013. 

OMB control number: 7100–0137. 

Frequency: On occasion. 

Respondents: Board-regulated transfer 

agents. 

Estimated number of respondents: 

Exemption notice: 1; exemption 

disqualification notice: 1. 

Estimated average hours per response: 

Exemption notice: 2; exemption 

disqualification notice: 2. 

Estimated annual burden hours: 

Exemption notice: 2; exemption 

disqualification notice: 2. 

General description of report: Transfer 

agents, which are institutions that 

provide securities transfer, registration, 

monitoring, and other specified services 

on behalf of securities issuers,1 are 

generally subject to certain Securities 

and Exchange Commission (SEC) 

regulations. However, a transfer agent 

that is regulated by and registered with 

the Board (a Board-regulated transfer 

agent) may request an exemption from 

those regulations if it transfers and 

processes a low volume of securities (a 

low-volume transfer agent). A transfer 

agent is Board-regulated if it is a state 

member bank or a subsidiary thereof, a 

bank holding company, or a savings and 

loan holding company. A Boardregulated transfer agent may request an 

exemption from the SEC regulations by 

filing with the Board a notice certifying 

that it qualifies as a low-volume transfer 

agent. In addition, a Board-regulated 

low-volume transfer agent that no longer 

meets the requirements of being a lowvolume transfer agent must notify the 

Board of that fact. 

Legal authorization and 

confidentiality: The FR 4013 is 

authorized pursuant to sections 2, 

17(a)(3), 17A(c), and 23(a) of the 

Exchange Act,2 which, among other 

things, authorize the Board to 

promulgate regulations and establish 

recordkeeping and reporting 

requirements with respect to Boardregulated transfer agents.3

The exemption notice is mandatory 

for Board-registered transfer agents 

seeking the exemption. The obligation 

to respond for the exemption notice, 

therefore, is required to obtain a benefit. 

The exemption disqualification notice is 

mandatory for a Board-regulated transfer 

agent that no longer qualifies for the 

exemption. 

The information collected in the FR 

4013 regarding a Board-regulated 

transfer agent’s volume of transactions 

is public information through the filing 

and publication of the transfer agent’s 

Form TA–2 with the SEC. Therefore, 

individual respondent data collected by 

the FR 4013 are not confidential. 


khammond on DSKJM1Z7X2PROD with NOTICES
Federal Register / Vol. 87, No. 16 / Tuesday, January 25, 2022 / Notices 3809 

1 12 U.S.C. 1831x. 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)(8). 

Board of Governors of the Federal Reserve 

System, January 19, 2022. 

Michele Taylor Fennell, 

Deputy Associate Secretary of the Board. 

[FR Doc. 2022–01418 Filed 1–24–22; 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 Disclosure 

Requirements of Subpart H of 

Regulation H (Consumer Protection in 

Sales of Insurance) (FR H–7; OMB No. 

7100–0298). 

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 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. 

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. 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: Disclosure Requirements 

of Subpart H of Regulation H (Consumer 

Protection in Sales of Insurance). 

Agency form number: FR H–7. 

OMB control number: 7100–0298. 

Effective Date: January 25, 2022. 

Frequency: On occasion. 

Respondents: State member banks or 

any other person at an office of a bank 

or on behalf of a bank (collectively, 

Covered Persons). 

Estimated number of respondents: 

Insurance and extension of credit, 341; 

advertisements, 341. 

Estimated average hours per response: 

Insurance and extension of credit, 1.5 

minutes; advertisements, 25 minutes. 

Estimated annual burden hours: 

Insurance and extension of credit, 5,371; 

advertisements, 142. 

General description of report: The 

insurance consumer protection rules in 

Regulation H require depository 

institutions to prepare and provide 

certain disclosures to consumers. The 

disclosure requirements are codified at 

12 CFR 208.81 et seq. and require 

Covered Persons to make certain 

disclosures: Before the completion of 

the initial purchase of an insurance 

product or annuity by a consumer; at 

the time a consumer applies for an 

extension of credit in connection with 

which an insurance product or annuity 

is solicited, offered, or sold; and in 

advertisements and promotional 

materials for insurance products or 

annuities. 

Legal authorization and 

confidentiality: The Disclosure 

Requirements of Subpart H of 

Regulation H are authorized by section 

305 of the Gramm-Leach-Bliley Act of 

1999, which requires that the Board 

issue regulations, including disclosure 

requirements, applicable to retail sales 

practices, solicitations, advertising, or 

offers of insurance by depository 

institutions.1 The disclosures required 

under Subpart H of Regulation H are 

mandatory. 

Because the FR H–7 disclosures are 

provided by state member banks to 

customers, confidentiality issues should 

generally not arise. In the event the 

records are obtained by the Board as 

part of the examination or supervision 

of a financial institution, this 

information may be considered 

confidential pursuant to exemption 8 of 

the Freedom of Information Act, which 

protects information contained in 

‘‘examination, operating, or condition 

reports’’ obtained in the bank 

supervisory process.2

Current actions: On October 5, 2021, 

the Board published a notice in the 

Federal Register (86 FR 54978) 

requesting public comment for 60 days 

on the extension, with revision, of the 

Disclosure Requirements of Subpart H 

of Regulation H (Consumer Protection in 

Sales of Insurance). The Board revised 

the FR H–7 collection to account for one 

existing disclosure requirement in 

Regulation H that was not previously 

cleared by the Board under the PRA. 

The revision of the FR H–7 information 

collection accounts for this disclosure 

provision. This revision does not amend 

Regulation H or add any new 

information collection requirements. 

The comment period for this notice 

expired on December 6, 2021. The 

Board did not receive any comments. 

The revisions will be implemented as 

proposed. 

Board of Governors of the Federal Reserve 

System, January 19, 2022. 

Michele Taylor Fennell, 

Deputy Associate Secretary of the Board. 

[FR Doc. 2022–01416 Filed 1–24–22; 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 

Recordkeeping Provisions Associated 

with the Interagency Statement on 

Complex Structured Finance Activities 

(FR 4022; OMB No. 7100–0311). 

DATES: Comments must be submitted on 

or before March 28, 2022. 

ADDRESSES: You may submit comments, 

identified by FR 4022, 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 or FR number in the subject line 

of the message. 


khammond on DSKJM1Z7X2PROD with NOTICES