Federal Register / Vol. 83, No. 15 / Tuesday, January 23, 2018 / Notices 3145 

15See 12 CFR 252.143(c) and 252.154(c). 

compliance with its home country 

capital requirements. On December 2, 

2016, the Board approved a final notice 

to amend the FR Y–7Q to expand 

reporting regarding an FBO’s home 

country capital ratios consistent with 

Regulation YY. An FBO’s completion of 

the FR Y–7Q on a quarterly basis would 

satisfy both the requirement to report 

and the requirement to certify to the 

Board its compliance with capital 

adequacy measures that are consistent 

with the Basel Capital Framework. If an 

FBO is unable to report that it is in 

compliance with such capital adequacy 

measures, the Board may impose 

requirements, conditions, and 

restrictions relating to the U.S. 

operations of the FBO.15

A second commenter requested 

clarification on the definition of an 

inactive company when an entity is in 

the liquidation process. Respondents 

should refer to the definition of 

‘‘Liquidation’’ in the Banking, Savings 

and Loan, and Nonbanking Schedules in 

the FR Y–10 instructions on how to 

classify an entity during the liquidation 

process. Specifically, the instructions 

state ‘‘liquidation refers to final 

distribution of assets, satisfaction of 

liabilities, and closing of capital 

accounts of a company, as opposed to 

sale or transfer of the company.’’ 

The same commenter also requested 

that the instructions be expanded on 

reporting when a nonbanking company 

is a functionally regulated subsidiary 

since the mere registration with a 

functional regulator does not necessarily 

qualify a company as being functionally 

regulated for these purposes. In 

response to the commenter’s request, 

the Board notes that respondents should 

refer to the definition of ‘‘Functionally 

Regulated Subsidiary’’ in the FR Y–10 

instructions, which provides that 

certain companies may be required to be 

registered with one of the enumerated 

regulators without necessarily 

qualifying as being functionally 

regulated by that regulator; for example, 

publicly held companies may be 

required to be registered with the U.S. 

Securities and Exchange Commission 

(SEC) without necessarily qualifying as 

functionally regulated by the SEC as a 

securities broker-dealer, investment 

adviser, investment company, or 

company that engages in commodity 

futures trading. 

Board of Governors of the Federal Reserve 

System, January 18, 2018. 

Margaret McCloskey Shanks, 

Deputy Secretary of the Board. 

[FR Doc. 2018–01153 Filed 1–22–18; 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 or 

Federal Reserve) is adopting a proposal 

to extend for three years, with revision, 

the following mandatory reports: 

(1) The Financial Statements of U.S. 

Nonbank Subsidiaries of U.S. Holding 

Companies (FR Y–11; OMB No. 7100– 

0244), 

(2) the Abbreviated Financial 

Statements of U.S. Nonbank 

Subsidiaries of U.S. Holding Companies 

(FR Y–11S; OMB No. 7100–0244), 

(3) the Financial Statements of 

Foreign Subsidiaries of U.S. Banking 

Organizations (FR 2314; OMB No. 7100– 

0073), and 

(4) the Abbreviated Financial 

Statements of Foreign Subsidiaries of 

U.S. Banking Organizations (FR 2314S; 

OMB No. 7100–0073). 

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. 

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 

information collections: 

1. Report Title: Financial Statements 

of U.S. Nonbank Subsidiaries of U.S. 

Holding Companies and the 

Abbreviated Financial Statements of 

U.S. Nonbank Subsidiaries of U.S. 

Holding Companies. 

Agency Form Number: FR Y–11 and 

FR Y–11S. 

OMB Control Number: 7100–0244. 

Frequency: Quarterly and annually. 

Reporters: Holding companies. 

Estimated Number of Respondents: 

FR Y–11 (quarterly): 634; FR Y–11 

(annual): 230; FR Y–11S: 299. 

Estimated Average Hours per 

Response: FR Y–11 (quarterly): 6.8; FR 

Y–11 (annual): 6.8; FR Y–11S: 1. 

Estimated Annual Reporting Hours: 

FR Y–11 (quarterly): 17,244; FR Y–11 

(annual): 1,564; FR Y–11S: 299. 

General Description of Information 

Collection: The FR Y–11 reporting forms 

collect financial information for 

individual, non-functionally regulated 

U.S. nonbank subsidiaries of domestic 

holding companies (i.e., bank holding 

companies, savings and loan holding 

companies, securities holding 

companies, and intermediate holding 

companies). Holding companies file the 

FR Y–11 on a quarterly or annual basis 

or the FR Y–11S on an annual basis, 

predominantly based on whether the 

organization meets certain asset size 

thresholds described in the instructions 

to the reports. The FR Y–11 data are 

used with other holding company data 

to assess the condition of holding 

companies that are heavily engaged in 

nonbanking activities and to monitor 

the volume, nature, and condition of 

their nonbanking operations. 

2. Report Title: Financial Statements 

of Foreign Subsidiaries of U.S. Banking 

Organizations and the Abbreviated 

Financial Statements of Foreign 

Subsidiaries of U.S. Banking 

Organizations. 

Agency Form Number: FR 2314 and 

FR 2314S. 

OMB Control Number: 7100–0073. 

Frequency: Quarterly and annually. 


sradovich on DSK3GMQ082PROD with NOTICES
3146 Federal Register / Vol. 83, No. 15 / Tuesday, January 23, 2018 / Notices 

Reporters: U.S. state member banks, 

holding companies, and Edge or 

agreement corporations. 

Estimated Annual Reporting Hours: 

FR 2314 (quarterly): 13,807; FR 2314 

(annual): 1,690; FR 2314S: 322. 

Estimated Average Hours per 

Response: FR 2314 (quarterly): 6.6; FR 

2314 (annual): 6.6; FR 2314S: 1. 

Number of Respondents: FR 2314 

(quarterly): 523; FR 2314 (annual): 256; 

FR 2314S: 322. 

General Description of Report: The FR 

2314 reporting forms collect financial 

information for non-functionally 

regulated direct or indirect foreign 

subsidiaries of U.S. state member banks 

(SMBs), Edge and agreement 

corporations, and holding companies 

(i.e., bank holding companies, savings 

and loan holding companies, securities 

holding companies, and intermediate 

holding companies). Parent 

organizations (SMBs, Edge and 

agreement corporations, or holding 

companies) file the FR 2314 on a 

quarterly or annual basis, or the FR 

2314S on an annual basis, 

predominantly based on whether the 

organization meets certain asset size 

thresholds described in the instructions 

to the reports. The FR 2314 data are 

used to identify current and potential 

problems at the foreign subsidiaries of 

U.S. parent companies, to monitor the 

activities of U.S. banking organizations 

in specific countries, and to develop a 

better understanding of activities within 

the industry, in general, and of 

individual institutions, in particular. 

Current Actions: On July 18, 2017, the 

Board published a notice in the Federal 

Register (82 FR 43367) requesting 

public comment on the extension for 

three years with revision of the FR Y– 

11, FR Y–11S, FR 2314, and the FR 

2314S. The Board proposed to revise the 

instructions for Schedule IS (and related 

line item captions on the reporting 

form) to remove the term ‘‘extraordinary 

items’’ and replace it with 

‘‘discontinued operations,’’ in 

accordance with revised accounting 

standards issued by the Financial 

Accounting Standards Board in ASU 

No. 2015–01, ‘‘Simplifying Income 

Statement Presentation by Eliminating 

the Concept of Extraordinary Items.’’ In 

addition, the terms ‘‘Loans net of 

unearned income’’ and ‘‘Loans held for 

investment’’ are being used 

interchangeably throughout certain 

regulatory reports although both 

descriptions are intended to have the 

same reported amounts. Consistent with 

the Call Report, the Federal Reserve is 

revising the captions and instructions 

‘‘Loans net of unearned income’’ and 

replace with ‘‘Loans held for 

investment’’ on all reports where 

applicable for clarity and internal 

consistency. The proposal was amended 

September 11, 2017, to extend the 

proposed implementation date from 

September 30, 2017, to March 31, 2018. 

The comment period expired on 

September 18, 2017, and no comments 

were received. The revisions will be 

implemented as proposed. 

Legal Authorization and 

Confidentiality: The Board has the 

authority to collect the information 

requested on the FR Y–11 series of 

reports and the FR 2314 series of reports 

from bank holding companies, savings 

and loan holding companies (SLHCs), 

securities holding companies, and 

intermediate holding companies (IHCs) 

under, respectively, section 5(c) of the 

Bank Holding Company Act (BHC Act), 

(12 U.S.C. 1844(c)) (BHCs and IHCs); the 

Homeowners’ Loan Act, (12 U.S.C. 

1467a(b)(2)) (SLHCs); section 165 of the 

Dodd-Frank Act, (12 U.S.C. 5365) (IHCs 

only); and section 618 of the DoddFrank Act, (12 U.S.C. 850a) (securities 

holding companies). Collection of 

information from non-functionally 

regulated direct or indirect foreign 

subsidiaries of U.S. state member banks, 

Edge and agreement corporations filing 

the FR 2314 series of reports is 

authorized under sections 9(6), 25(7) 

and 25A(17) of the Federal Reserve Act, 

(12 U.S.C. 324, 602, and 625), 

respectively. The Federal Reserve does 

not consider the data collected by the 

FR Y–11 series of reports or FR 2314 

series of reports to be confidential. 

However, a respondent may request 

confidential treatment pursuant to 

sections (b)(4), (b)(6), and (b)(8) of the 

Freedom of Information Act (5 U.S.C. 

552(b)(4), (b)(6), (b)(8)). The 

applicability of these exemptions would 

be determined on a case-by-case basis. 

Board of Governors of the Federal Reserve 

System, January 18, 2018. 

Margaret McCloskey Shanks, 

Deputy Secretary of the Board. 

[FR Doc. 2018–01150 Filed 1–22–18; 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 (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 

notices are set forth in paragraph 7 of 

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

The notices are available for 

immediate inspection at the Federal 

Reserve Bank indicated. The notices 

also will be available for inspection at 

the offices of the Board of Governors. 

Interested persons may express their 

views in writing to the Reserve Bank 

indicated for that notice or to the offices 

of the Board of Governors. Comments 

must be received not later than February 

12, 2018. 

A. Federal Reserve Bank of Kansas 

City (Dennis Denney, Assistant Vice 

President) 1 Memorial Drive, Kansas 

City, Missouri 64198–0001: 

1. Guy L. Berry and William L. Berry, 

both of Sapulpa, Oklahoma; 

individually, to retain voting shares of 

American Bancorporation, Inc., 

Sapulpa, Oklahoma, and thereby 

indirectly retain shares of American 

Heritage Bank, Sapulpa, Oklahoma. 

In addition, James A. Dilley Jr., Jarrett 

Blake Dilley, Kaylee D. Berry, Hannah 

D. Berry, Brooklyn B. Berry, and the Guy 

L. Berry, Jr. Trust B–1, all of Sapulpa, 

Oklahoma, to retain/acquire voting 

shares and be approved as members of 

the Berry Family Group which, acting in 

concert, controls American 

Bancorporation. 

2. Jeffrey Royal, Omaha, Nebraska; to 

retain voting shares of Tri Valley 

Bancshares, Inc., and thereby retain 

voting shares of Tri Valley Bank, both of 

Talmage, Nebraska. 

Board of Governors of the Federal Reserve 

System, January 18, 2018. 

Ann E. Misback, 

Secretary of the Board. 

[FR Doc. 2018–01133 Filed 1–22–18; 8:45 am] 

BILLING CODE 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, with revision, the reports on 

Margin Credit (FR G–1, FR G–2, FR G– 

4; OMB No. 7100–0011. FR G–3; OMB 

No. 7100–0018. FR T–4; OMB No. 7100– 

0019. FR U–1; OMB No. 7100–0115). 

DATES: Comments must be submitted on 

or before March 26, 2018. 

ADDRESSES: You may submit comments, 

identified by FR G–1, FR G–2, FR G–3, 


sradovich on DSK3GMQ082PROD with NOTICES