11706 Federal Register / Vol. 87, No. 41 / Wednesday, March 2, 2022 / Notices 

1 7 U.S.C. 2(c)(2)(E). 

2Additionally, the Board also has the authority to 

require reports from state member banks under 

section 11 of the Federal Reserve Act (FRA), 12 

U.S.C. 248; from branches of foreign banks under 

sections 9 and 13 of the International Banking Act 

of 1978, 12 U.S.C. 3106a and 3108; from bank 

holding companies under section 5(b) and (c) of the 

Bank Holding Company Act of 1956, 12 U.S.C. 

1844(b) and (c); from savings and loan holding 

companies under section 10 of the Home Owners’ 

Loan Act, 12 U.S.C. 1467a(b) and (g); from Edge Act 

corporations under section 25A(17) of the FRA, 12 

U.S.C. 625; and from agreement corporations under 

section 25 of the FRA, 12 U.S.C. 601–604a. 

3 5 U.S.C. 552(b)(4). 4 5 U.S.C. 552(b)(8). 

of the CEA,1 which prohibits a United 

States financial institution and its 

related persons under the supervision of 

a Federal regulatory agency, such as the 

Board, from offering or entering into 

certain types of foreign exchange 

transactions with retail customers 

except pursuant to a rule or regulation 

prescribed by the appropriate Federal 

regulatory agency allowing the 

transaction under such terms and 

conditions as the Federal regulatory 

agency shall prescribe.2 Regulation NN’s 

reporting, recordkeeping, and disclosure 

requirements are mandatory for banking 

institutions that engage in retail foreign 

exchange transactions. 

The reporting requirement under 

section 240.4 of Regulation NN requires 

a banking institution to provide a prior 

written notice to the Board that includes 

information concerning customer due 

diligence; the policies and procedures 

for haircuts to be applied to noncash 

margin; information concerning new 

product approvals; and information on 

addressing conflicts of interest. This 

information is likely to constitute 

nonpublic commercial or financial 

information, which is both customarily 

and actually treated as private by the 

respondent, and thus may be kept 

confidential by the Board pursuant to 

exemption 4 of the Freedom of 

Information Act (FOIA).3 In addition, 

the prior written notice must also 

include a resolution of the banking 

institution’s board of directors certifying 

that the institution has written policies, 

procedures, and risk measurement and 

management systems and controls in 

place to ensure retail foreign exchange 

transactions are conducted in a safe and 

sound manner and in compliance with 

Regulation NN. Generally, this 

resolution by the board of directors 

would not be accorded confidential 

treatment. If confidential treatment is 

requested by a banking institution, the 

Board will review the request to 

determine if confidential treatment is 

appropriate. 

The records and disclosures required 

by Regulation NN generally are not 

submitted to the Federal Reserve. 

Accordingly, confidentiality issues 

generally do not arise under the FOIA. 

In the event such records or disclosures 

are obtained by the Federal Reserve 

through the examination or enforcement 

process, such information may be kept 

confidential under exemption 8 of the 

FOIA,4 which protects information 

contained in or related to an 

examination of a financial institution. 

Current actions: On November 23, 

2021, the Board published a notice in 

the Federal Register (86 FR 66561) 

requesting public comment for 60 days 

on the extension, without revision, of 

the FR NN. The comment period for this 

notice expired on January 24, 2022. The 

Board did not receive any comments. 

Board of Governors of the Federal Reserve 

System, February 24, 2022. 

Michele Taylor Fennell, 

Deputy Associate Secretary of the Board. 

[FR Doc. 2022–04347 Filed 3–1–22; 8:45 am] 

BILLING CODE 6210–01–P 

FEDERAL RESERVE SYSTEM 

[FR 4008; OMB No. 7100–0131] 

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 

of Proposed Stock Redemption. 

DATES: Comments must be submitted on 

or before May 2, 2022. 

ADDRESSES: You may submit comments, 

identified by FR 4008, 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. 

• 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 M– 

4365A, 2001 C St NW, Washington, DC 

20551, 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. 


lotter on DSK11XQN23PROD with NOTICES1
Federal Register / Vol. 87, No. 41 / Wednesday, March 2, 2022 / Notices 11707 

1 12 U.S.C. 1844(b) and (c). 

2 Public Law 111–203, 124 Stat. 1376 (2010). 

3 5 U.S.C. 552(b)(4). 

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 of Proposed Stock 

Redemption. 

Agency form number: FR 4008. 

OMB control number: 7100–0131. 

Frequency: On occasion. 

Respondents: Bank holding 

companies (BHCs). 

Estimated number of respondents: 6. 

Estimated average hours per response: 

15.5. 

Estimated annual burden hours: 93. 

General description of report: The 

Bank Holding Company Act of 1956 

(BHC Act) and Board’s Regulation Y— 

Bank Holding Companies and Change in 

Bank Control (12 CFR 225) require a 

BHC to seek the prior approval of the 

Board before purchasing or redeeming 

its equity securities in certain 

circumstances. Due to the limited 

information that a BHC must provide in 

connection with any such request, there 

is no required reporting form (the FR 

4008 designation is for internal 

purposes only), and each request for 

prior approval is generally filed 30 days 

before the proposed stock purchase or 

redemption as a notification with the 

Reserve Bank that has direct supervisory 

responsibility for the requesting BHC. 

The Federal Reserve uses the 

information provided in the redemption 

notices to supervise BHCs. 

Legal authorization and 

confidentiality: The FR 4008 is 

authorized pursuant to sections 5(b) and 

(c) of the Bank Holding Company Act 

(BHC Act).1 Section 5(b) of the BHC Act, 

as amended by section 616 of the DoddFrank Wall Street Reform and Consumer 

Protection Act,2 authorizes the Board to 

‘‘issue such regulations and orders, 

including regulations and orders 

relating to the capital requirements for 

bank holding companies, as may be 

necessary to enable it to administer and 

carry out the purposes of this chapter 

and prevent evasions thereof.’’ Section 

5(c) of the BHC Act generally authorizes 

the Board to, among other things, 

require reports from BHCs on a range of 

issues. The FR 4008 is required for 

certain BHCs to obtain the benefit of 

being able to purchase or redeem their 

equity securities. 

Individual respondents may request 

that data submitted be kept confidential 

on a case-by-case basis. If a respondent 

requests confidential treatment, the 

Board will determine whether the 

information is entitled to confidential 

treatment on an ad hoc basis. Requests 

may include information related to the 

BHC’s business operations, such as 

terms and sources of the funding for the 

redemption and pro forma balance 

sheets. To the extent that this 

information constitutes nonpublic 

commercial or financial information, 

which is both customarily and actually 

treated as private by the respondent, it 

may be kept confidential under 

exemption 4 of the Freedom of 

Information Act, which exempts ‘‘trade 

secrets and commercial or financial 

information obtained from a person and 

privileged or confidential.’’ 3

Board of Governors of the Federal Reserve 

System, February 24, 2022. 

Michele Taylor Fennell, 

Deputy Associate Secretary of the Board. 

[FR Doc. 2022–04345 Filed 3–1–22; 8:45 am] 

BILLING CODE 6210–01–P 

FEDERAL RESERVE SYSTEM 

Change in Bank Control Notices; 

Acquisitions of Shares of a Bank or 

Bank Holding Company 

The notificants listed below have 

applied under the Change in Bank 

Control Act (Act) (12 U.S.C. 1817(j)) and 

§ 225.41 of the Board’s Regulation Y (12 

CFR 225.41) to acquire shares of a bank 

or bank holding company. The factors 

that are considered in acting on the 

applications are set forth in paragraph 7 

of the Act (12 U.S.C. 1817(j)(7)). 

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 the 

standards enumerated in paragraph 7 of 

the Act. 

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 March 16, 2022. 

A. Federal Reserve Bank of Dallas 

(Karen Smith, Director, Applications) 

2200 North Pearl Street, Dallas, Texas 

75201–2272: 

1. The MES 2022 Trust and Marvin 

Edward Singleton, IV, individually, and 

as trustee, both of Waxahachie, Texas; 

to join the Marvin Edward Singleton, III 

Family Control Group, a group acting in 

concert, to acquire voting shares of First 

Citizens Bancshares, Inc., and thereby 

indirectly acquire voting shares of 

Citizens National Bank of Texas, both of 

Waxahachie, Texas. 

Board of Governors of the Federal Reserve 

System, February 25, 2022. 

Michele Taylor Fennell, 

Deputy Associate Secretary of the Board. 

[FR Doc. 2022–04395 Filed 3–1–22; 8:45 am] 

BILLING CODE 6210–01–P 

FEDERAL RESERVE SYSTEM 

[FR 4004; OMB No. 7100–0112] 

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 Written 


lotter on DSK11XQN23PROD with NOTICES1