14988 Federal Register / Vol. 74, No. 62 / Thursday, April 2, 2009 / Notices 

4The organization also recommended that 

‘‘reciprocal deposit’’ be defined as a deposit 

‘‘obtained when an insured depository institution 

exchanges funds, dollar-for-dollar, with members of 

a network of other insured depository institutions, 

where each member of the network sets the interest 

rate to be paid on the entire amount of funds it 

places with other network members, and all funds 

placed through the network are fully insured by the 

FDIC.’’ 

5 73 FR 61560, October 16, 2008. 

6The final rule defines ‘‘reciprocal deposits’’ as 

‘‘[d]eposits that an insured depository institution 

receives through a deposit placement network on a 

reciprocal basis, such that: (1) For any deposit 

received, the institution (as agent for depositors) 

places the same amount with other insured 

depository institutions through the network; and (2) 

each member of the network sets the interest rate 

to be paid on the entire amount of funds it places 

with other network members.’’ 

agencies will continue to collect these 

items, for which they received 

emergency approval from OMB, until 

the Transaction Account Guarantee 

Program ends. 

In addition, on September 23, 2008, 

the OCC, the Board, and the FDIC 

requested public comment for 60 days 

on proposed revisions to the Call Report 

for implementation on a phased-in basis 

during 2009 (73 FR 54807). On October 

1, 2008, the OTS requested public 

comment for 60 days on proposed 

revisions to the TFR that would also 

take effect on a phased-in basis during 

2009 (73 FR 57205). In response to these 

requests, the agencies received certain 

comments recommending the collection 

of additional deposit data related to 

deposit insurance assessments even 

though the agencies had not proposed to 

collect these additional data in their 

proposals. More specifically, one 

bankers’ organization recommended 

that the Call Report and the TFR be 

revised to require ‘‘reciprocal 

deposits’’ 4 to be reported separately 

from brokered deposits. This bankers’ 

organization also commented on the 

reporting of certain sweep accounts 

from other institutions, including 

affiliated institutions, in the Call Report 

and the TFR. 

The impetus for the bankers’ 

organization’s comments about the 

reporting of these two types of deposits 

was a Notice of Proposed Rulemaking 

(NPR) on which the FDIC was 

simultaneously requesting comment 

concerning amendments to its deposit 

insurance assessment regulations (12 

CFR part 327).5 In the NPR, the FDIC 

proposed to alter the way in which it 

differentiates for risk in the risk-based 

assessment system; revise deposit 

insurance assessment rates, including 

base assessment rates; and make 

technical and other changes to the rules 

governing the risk-based assessment 

system. In its comment letters to the 

agencies on the proposed Call Report 

and TFR revisions, the bankers’ 

organization observed that the Call 

Report and the TFR may need to be 

revised depending on the FDIC’s 

decisions on the treatment of these 

accounts for deposit insurance 

assessment purposes. 

The FFIEC and the agencies have 

monitored the outcome of the FDIC’s 

rulemaking for assessments and the 

need for new Call Report data items for 

reciprocal deposits and certain sweep 

accounts to support any modifications 

that the FDIC makes in its risk-based 

assessment system in a final rule. In this 

regard, on February 27, 2009, the FDIC 

Board of Directors adopted a final rule 

that revised the FDIC’s assessment 

regulations effective April 1, 2009. For 

institutions in Risk Category I of the 

risk-based assessment system, the final 

rule introduces a new financial ratio 

into the financial ratios method. This 

method determines the assessment rates 

for most institutions in Risk Category I 

using a combination of weighted 

Uniform Financial Institutions Rating 

System component ratings and certain 

financial ratios. The new ratio will 

capture brokered deposits (in excess of 

10 percent of domestic deposits) that are 

used to fund rapid asset growth, but it 

will exclude brokered deposits that an 

institution receives through a deposit 

placement network on a reciprocal basis 

(reciprocal deposits). 

To enable the FDIC to adjust banks’ 

and savings associations’ brokered 

deposits, which are already reported in 

the Call Report and the TFR, for any 

reciprocal deposits included therein, the 

agencies will add an item to the 

schedules in these two reports in which 

data are reported for assessment 

purposes (Schedules RC–O and DI, 

respectively). The definition of 

reciprocal deposits in the FDIC’s final 

rule 6 would be used for this new item, 

which would be collected in the Call 

Report and the TFR beginning June 30, 

2009. The addition of this reciprocal 

deposits item to the Call Report and the 

TFR is responsive to the previously 

mentioned comments received from a 

bankers’ organization when the agencies 

requested comments on proposed 

revisions to the Call Report and the TFR 

for implementation in 2009. 

In its final rule on assessments, the 

FDIC decided not to adjust brokered 

deposits for balances swept into an 

insured institution by a nondepository 

institution. Accordingly, the FFIEC and 

the agencies are not revising the Call 

Report and the TFR to collect data on 

such sweep accounts. 

Request for Comment 

Public comment is requested on all 

aspects of this joint notice. Comments 

are invited on: 

(a) Whether the proposed revisions to 

the collections of information that are 

the subject of this notice are necessary 

for the proper performance of the 

agencies’ functions, including whether 

the information has practical utility; 

(b) The accuracy of the agencies’ 

estimates of the burden of the 

information collections as they are 

proposed to be revised, 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 collections on respondents, 

including through the use of automated 

collection techniques or other forms of 

information technology; and 

(e) Estimates of capital or start up 

costs and costs of operation, 

maintenance, and purchase of services 

to provide information. 

Comments submitted in response to 

this joint notice will be shared among 

the agencies. All comments will become 

a matter of public record. 

Dated: March 20, 2009. 

Michele Meyer, 

Assistant Director, Legislative and Regulatory 

Activities Division, Office of the Comptroller 

of the Currency. 

Board of Governors of the Federal Reserve 

System, March 27, 2009. 

Robert deV. Frierson, 

Deputy Secretary of the Board. 

Dated at Washington, DC, this 25th day of 

March, 2009. 

Federal Deposit Insurance Corporation. 

Robert E. Feldman, 

Executive Secretary. 

Dated: March 24, 2009. 

Deborah Dakin, 

Senior Deputy Chief Counsel, Regulations and 

Legislation Division, Office of Thrift 

Supervision. 

[FR Doc. E9–7361 Filed 4–1–09; 8:45 am] 

BILLING CODE 4810–33–P, 6210–01–P, 6714–01–P, 

6720–01–P 

FEDERAL RESERVE SYSTEM 

Proposed Agency Information 

Collection Activities; Comment 

Request 

AGENCY: Board of Governors of the 

Federal Reserve System. 

SUMMARY: 

mstockstill on PROD1PC66 with NOTICES

Federal Register / Vol. 74, No. 62 / Thursday, April 2, 2009 / Notices 14989 

Background 

On June 15, 1984, the Office of 

Management and Budget (OMB) 

delegated to the Board of Governors of 

the Federal Reserve System (Board) its 

approval authority under the Paperwork 

Reduction Act (PRA), as per 5 CFR 

1320.16, to approve of and assign OMB 

control numbers to collection of 

information requests and requirements 

conducted or sponsored by the Board 

under conditions set forth in 5 CFR 

1320 Appendix A.1. 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 instruments 

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. 

Request for Comment on Information 

Collection Proposals 

The following information 

collections, which are being handled 

under this delegated authority, have 

received initial Board approval and are 

hereby published for comment. At the 

end of the comment period, the 

proposed information collections, along 

with an analysis of comments and 

recommendations received, will be 

submitted to the Board for final 

approval under OMB delegated 

authority. Comments are invited on the 

following: 

a. Whether the proposed collection of 

information is necessary for the proper 

performance of the Federal Reserve’s 

functions; including whether the 

information has practical utility; 

b. The accuracy of the Federal 

Reserve’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; and 

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. 

DATES: Comments must be submitted on 

or before June 1, 2009. 

ADDRESSES: You may submit comments, 

identified by FR 4022 by any of the 

following methods: 

• Agency Web Site: http:// 

www.federalreserve.gov. Follow the 

instructions for submitting comments at 

http://www.federalreserve.gov/ 

generalinfo/foia/ProposedRegs.cfm. 

• Federal eRulemaking Portal: http:// 

www.regulations.gov. Follow the 

instructions for submitting comments. 

• E-Mail: 

regs.comments@federalreserve.gov. 

Include docket number in the subject 

line of the message. 

• FAX: 202–452–3819 or 202–452– 

3102. 

• Mail: Jennifer J. Johnson, 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 Web site at http:// 

www.federalreserve.gov/generalinfo/ 

foia/ProposedRegs.cfm as submitted, 

unless modified for technical reasons. 

Accordingly, your comments will not be 

edited to remove any identifying or 

contact information. Public comments 

may also be viewed electronically or in 

paper form in Room MP–500 of the 

Board’s Martin Building (20th and C 

Streets, NW.) between 9 a.m. and 5 p.m. 

on weekdays. 

Additionally, commenters should 

send a copy of their comments to the 

OMB Desk Officer by mail to the Office 

of Information and Regulatory Affairs, 

U.S. 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: A 

copy of the PRA OMB submission, 

including the proposed reporting form 

and instructions, supporting statement, 

and other documentation will be placed 

into OMB’s public docket files, once 

approved. These documents will also be 

made available on the Federal Reserve 

Board’s public Web site at: http:// 

www.federalreserve.gov/boarddocs/ 

reportforms/review.cfm or may be 

requested from the agency clearance 

officer, whose name appears below. 

Michelle Shore, Federal Reserve 

Board Clearance Officer (202–452– 

3829), Division of Research and 

Statistics, Board of Governors of the 

Federal Reserve System, Washington, 

DC 20551. Telecommunications Device 

for the Deaf (TDD) users may contact 

(202–263–4869), Board of Governors of 

the Federal Reserve System, 

Washington, DC 20551. 

Proposal To Approve Under OMB 

Delegated Authority the Extension for 

Three Years, Without Revision, of the 

Following Report 

Report Title: Recordkeeping 

Requirements Associated with the 

Interagency Statement on Complex 

Structured Finance Activities. 

Agency Form Number: FR 4022. 

OMB Control Number: 7100–0311. 

Frequency: Annual. 

Reporters: State member banks, bank 

holding companies, and U.S. branches 

and agencies of foreign banks 

supervised by the Federal Reserve. 

Estimated Annual Reporting Hours: 

230 hours. 

Estimated Average Hours per 

Response: New respondents, 25 hours; 

existing respondents, 10 hours. 

Estimated Number of Respondents: 

New respondents, 2; existing 

respondents, 18. 

General Description of Report: This 

information collection is authorized 

pursuant to 12 U.S.C. 248(a), 248(i), 483, 

and 602, 12 U.S.C. 1844, and 12 U.S.C. 

3108(a). Respondent participation in the 

statement is voluntary. However, the 

Federal Reserve expects to use the 

statement in reviewing the internal 

controls and risk management systems 

of those financial institutions engaged 

in complex structured finance 

transactions (CSFTs) as part of the 

Federal Reserve’s supervisory process. 

Since the Federal Reserve does not 

collect any information, no issue of 

confidentiality normally arises. 

However, in the event records generated 

under the statement are obtained by the 

Board during an examination of a state 

member bank or U.S. branch or agency 

of a foreign bank, or during an 

inspection of a bank holding company, 

confidential treatment may be afforded 

to the records under exemption 8 of the 

Freedom of Information Act (FOIA), 5 

U.S.C. 552(b)(8). FOIA exemption 8 

exempts from disclosure matters that are 

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. 

Abstract: The Interagency Statement 

on Complex Structured Finance 

Activities provides that state member 

banks, bank holding companies, and 

U.S. branches and agencies of foreign 

banks supervised by the Federal Reserve 

should establish and maintain policies 

and procedures for identifying, 

evaluating, assessing, documenting, and 

controlling risks associated with certain 

CSFTs. 

A financial institution engaged in 

CSFTs should maintain a set of formal, 

mstockstill on PROD1PC66 with NOTICES

14990 Federal Register / Vol. 74, No. 62 / Thursday, April 2, 2009 / Notices 

firm-wide policies and procedures that 

are designed to allow the institution to 

identify, evaluate, assess, document, 

and control the full range of credit, 

market, operational, legal, and 

reputational risks associated with these 

transactions. These policies may be 

developed specifically for CSFTs, or 

included in the set of broader policies 

governing the institution generally. A 

financial institution operating in foreign 

jurisdictions may tailor its policies and 

procedures as appropriate to account 

for, and comply with, the applicable 

laws, regulations and standards of those 

jurisdictions. 

A financial institution’s policies and 

procedures should establish a clear 

framework for the review and approval 

of individual CSFTs. These policies and 

procedures should set forth the 

responsibilities of the personnel 

involved in the origination, structuring, 

trading, review, approval, 

documentation, verification, and 

execution of CSFTs. A financial 

institution should define what 

constitutes a new complex structured 

finance product and establish a control 

process for the approval of such new 

products. An institution’s policies also 

should provide for new complex 

structured finance products to receive 

the approval of all relevant control areas 

that are independent of the profit center 

before the product is offered to 

customers. 

Board of Governors of the Federal Reserve 

System, March 27, 2009. 

Robert deV. Frierson, 

Deputy Secretary of the Board. 

[FR Doc. E9–7339 Filed 4–1–09; 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 also will 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. 

Additional information on all bank 

holding companies may be obtained 

from the National Information Center 

website at www.ffiec.gov/nic/. 

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 April 27, 2009. 

A. Federal Reserve Bank of Cleveland 

(Nadine Wallman, Vice President) 1455 

East Sixth Street, Cleveland, Ohio 

44101–2566: 

1. Community Exchange Bancshares 

Inc., Hindman, Kentucky; to become a 

bank holding company by acquiring 100 

percent of the voting shares of Hindman 

Bancshares Inc., and its subsidiary Bank 

of Hindman Inc., both of Hindman, 

Kentucky. 

Board of Governors of the Federal Reserve 

System, March 30, 2009. 

Robert deV. Frierson, 

Deputy Secretary of the Board. 

[FR Doc. E9–7406 Filed 4–01–09; 8:45 am] 

BILLING CODE 6210–01–S 

DEPARTMENT OF HEALTH AND 

HUMAN SERVICES 

Office of the Secretary 

Findings of Scientific Misconduct 

AGENCY: Office of the Secretary, HHS. 

ACTION: Notice. 

SUMMARY: Notice is hereby given that 

the Office of Research Integrity (ORI) 

and the Assistant Secretary for Health 

have taken final action in the following 

case: 

Robert B. Fogel, M.D., Harvard Medical 

School and Brigham and Women’s 

Hospital: Based on information that the 

Respondent volunteered to his former 

mentor on November 7, 2006, and 

detailed in a written admission on 

September 19, 2007, and ORI’s review of 

Joint Inquiry and Investigation reports 

by Harvard Medical School (HMS) and 

the Brigham and Women’s Hospital 

(BWH), the U.S. Public Health Service 

(PHS) found that Dr. Robert B. Fogel, 

former Assistant Professor of Medicine 

and Associate Physician at HMS, and 

former Co-Director of the Fellowship in 

Sleep Medicine at BWH, engaged in 

scientific misconduct in research 

supported by National Heart, Lung, and 

Blood Institute (NHLBI), National 

Institutes of Health (NIH), awards P50 

HL60292, R01 HL48531, K23 HL04400, 

and F32 HL10246, and National Center 

for Research Resources (NCRR), NIH, 

award M01 RR02635. 

PHS found that Respondent engaged 

in scientific misconduct by falsifying 

and fabricating baseline data from a 

study of sleep apnea in severely obese 

patients published in the following 

paper: Fogel, R.B., Malhotra, A., 

Dalagiorgou, G., Robinson, M.K., Jakab, 

M., Kikinis, R., Pittman, S.D., and 

White, D.P. ‘‘Anatomic and physiologic 

predictors of apnea severity in morbidly 

obese subjects.’’ Sleep 2:150–155, 2003 

(hereafter referred to as the ‘‘Sleep 

paper’’); and in a preliminary abstract 

reporting on this work. 

Specifically, PHS found that for the data 

reported in the Sleep paper, the 

Respondent: 

• Changed/falsified roughly half of 

the physiologic data 

• Fabricated roughly 20% of the 

anatomic data that were supposedly 

obtained from Computed Tomography 

(CT) images 

• Changed/falsified 50 to 80 percent 

of the other anatomic data 

• Changed/falsified roughly 40 to 50 

percent of the sleep data so that those 

data would better conform to his 

hypothesis. 

Respondent also published some of 

the falsified and fabricated data in an 

abstract in Sleep 24, Abstract 

Supplement A7, 2001. 

Dr. Fogel has entered into a Voluntary 

Settlement Agreement in which he has 

voluntarily agreed, for a period of three 

(3) years, beginning on March 16, 2009: 

(1) To exclude himself from serving in 

any advisory capacity to PHS, including 

but not limited to service on any PHS 

advisory committee, board, and/or peer 

review committee, or as a consultant; 

(2) That any institution that submits 

an application for PHS support for a 

research project on which the 

Respondent’s participation is proposed 

or that uses the Respondent in any 

capacity on PHS supported research, or 

that submits a report of PHS-funded 

research in which the Respondent is 

involved, must concurrently submit a 

plan for supervision of the Respondent’s 

duties to the funding agency for 

approval; the supervisory plan must be 

designed to ensure the scientific 

integrity of the Respondent’s research 

contribution; a copy of the supervisory 

plan must also be submitted to ORI by 

mstockstill on PROD1PC66 with NOTICES