30602 Federal Register / Vol. 86, No. 109 / Wednesday, June 9, 2021 / Notices 

1 77 FR 29458. The Stress Testing Guidance was 

issued jointly by the Board, the Federal Deposit 

Insurance Corporation, and the Office of the 

Comptroller of the Currency. 

2Board-supervised banking organizations include 

state member banks, bank holding companies, 

savings and loan holding companies, and all other 

institutions for which the Board is the primary 

federal supervisor. 

whether the acquisition of the 

nonbanking company complies with the 

standards in section 4 of the BHC Act 

(12 U.S.C. 1843), and interested persons 

may express their views in writing on 

the standards enumerated in section 4. 

Unless otherwise noted, nonbanking 

activities will be conducted throughout 

the United States. 

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 July 9, 2021. 

A. Federal Reserve Bank of Richmond 

(Adam M. Drimer, Assistant Vice 

President) 701 East Byrd Street, 

Richmond, Virginia 23219. Comments 

can also be sent electronically to or 

Comments.applications@rich.frb.org: 

1. VCC Social Enterprises, Richmond, 

Virginia; to become a bank holding 

company by acquiring VCC Bank, 

Richmond, Virginia, and also acquire 

Virginia Community Capital, Locus 

Capital, Locus Impact Investing, and 

Locus Foundation, all of Richmond, 

Virginia, and thereby engage in 

extending credit and servicing loans, 

asset management activities, 

management consulting, community 

development activities, financing and 

investment activities, and data 

processing activities pursuant to section 

225.28(b)(1), (b)(2)(vi), (b)(9)(i)(A), 

225.28(b)(12)(i), and (b)(14)(i) the 

Board’s Regulation Y, respectively. 

Board of Governors of the Federal Reserve 

System, June 4, 2021. 

Ann Misback, 

Secretary of the Board. 

[FR Doc. 2021–12084 Filed 6–8–21; 8:45 am] 

BILLING CODE 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, without revision, the 

Recordkeeping Provisions Associated 

with Stress Testing Guidance (FR 4202; 

OMB No. 7100–0348). The Board has 

extended the FR 4202 without revision 

to ensure compliance with the 

Paperwork Reduction Act (PRA). 

However, whether and how any changes 

should be made to the guidance in light 

of recent amendments made by the 

Board to its stress testing rules is under 

consideration. The Board will publish 

any proposed changes to the FR 4202 

via a separate notice for comment. 

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—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, OMB delegated to the Board 

authority under the 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, Without Revision, of the 

Following Information Collection 

Report title: Recordkeeping Provisions 

Associated with Stress Testing 

Guidance. 

Agency form number: FR 4202. 

OMB control number: 7100–0348. 

Frequency: As needed. 

Respondents: Banking organizations. 

Estimated number of respondents: 

100. 

Estimated average hours per response: 

180. 

Estimated annual burden hours: 

18,000. 

General description of report: On May 

17, 2012, the Board published the 

Supervisory Guidance on Stress Testing 

for Banking Organizations With More 

Than $10 Billion in Total Consolidated 

Assets (Stress Testing Guidance) in the 

Federal Register.1 The Stress Testing 

Guidance outlines high-level principles 

for stress testing practices applicable to 

all Board-supervised banking 

organizations with more than $10 

billion in total consolidated assets.2

The Stress Testing Guidance 

recommends that banking organizations 

(i) have a stress testing framework that 

includes clearly defined objectives, 

well-designed scenarios tailored to the 

banking organization’s business and 

risks, well-documented assumptions, 

conceptually sound methodologies to 

assess potential impact on the banking 

organization’s financial condition, 

informative management reports, and 

recommended actions based on stress 

test results; and (ii) have policies and 

procedures for a stress testing 

framework. These recordkeeping 

activities are collections of information 

under the PRA. 

An organization should have written 

policies, approved and annually 

reviewed by the board, that direct and 

govern the implementation of the stress 

testing framework in a comprehensive 

manner. Policies, along with procedures 

to implement them, should: 

• Describe the overall purpose of 

stress testing activities; 

• articulate consistent and 

sufficiently rigorous stress testing 

practices across the entire organization; 

• indicate stress testing roles and 

responsibilities, including controls over 

external resources used for any part of 

stress testing (such as vendors and data 

providers); 

• describe the frequency and priority 

with which stress testing activities 

should be conducted; 

• indicate how stress test results are 

used and by whom, and 

• be reviewed and updated as 

necessary to ensure that stress testing 

practices remain appropriate and keep 

up to date with changes in market 

conditions, organization products and 

strategies, organization exposures and 

activities, the organization’s established 

risk appetite, and industry stress testing 

practices. 

Legal authorization and 

confidentiality: This voluntary 

information collection is authorized 

pursuant to section 11 of the Federal 

Reserve Act, 12 U.S.C. 248 (state 

member banks); sections 25 and 25A of 


lotter on DSK11XQN23PROD with NOTICES1
Federal Register / Vol. 86, No. 109 / Wednesday, June 9, 2021 / Notices 30603 

the Federal Reserve Act, 12 U.S.C. 602 

and 625 (Edge and Agreement 

corporations); section 5 of the Bank 

Holding Company Act of 1956, 12 

U.S.C. 1844 (bank holding companies) 

and, in conjunction with section 8 of the 

International Banking Act, 12 U.S.C. 

3106 (foreign banking organizations); 

section 7(c) of the International Banking 

Act of 1978, 12 U.S.C. 3105(c) (branches 

and agencies of foreign banks); section 

10 of the Home Owners’ Loan Act, 12 

U.S.C. 1467a, (savings and loan holding 

companies), and section 165(i) of the 

Dodd-Frank Wall Street Reform and 

Consumer Protection Act, 12 U.S.C. 

5365 (nonbank financial companies 

supervised by the Board). 

Because the collections of information 

associated with the FR 4202 do not 

involve the submission of information 

to the Board, no issues of confidentiality 

would normally arise. To the extent that 

the Board collects such information 

during an examination of the banking 

organization, confidential treatment 

may be afforded to that information 

under exemption 8 of the Freedom of 

Information Act (FOIA) (5 U.S.C. 

552(b)(8)), which protects information 

collected as part of the Board’s 

supervisory process. Additionally, 

individual respondents may request 

confidential treatment of information 

pursuant to exemption 4 of the FOIA (5 

U.S.C. 552(b)(4)), which protects ‘‘trade 

secrets and commercial or financial 

information obtained from a person 

[that is] privileged or confidential.’’ The 

Board will treat such information as 

confidential to the extent permitted by 

law, including the FOIA. 

Current actions: On March 8, 2021, 

the Board published an initial notice in 

the Federal Register (86 FR 13378) 

requesting public comment for 60 days 

on the extension, without revision, of 

the FR 4202. The comment period for 

this notice expired on May 7, 2021. The 

Board did not receive any comments. 

The Board will adopt the extension, 

without revision, of the FR 4202 as 

originally proposed. 

Board of Governors of the Federal Reserve 

System, June 4, 2021. 

Ann Misback, 

Secretary of the Board. 

[FR Doc. 2021–12086 Filed 6–8–21; 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 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 the BHC Act 

(12 U.S.C. 1842(c)). 

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 July 9, 2021. 

A. Federal Reserve Bank of St. Louis 

(Holly A. Rieser, Manager) P.O. Box 442, 

St. Louis, Missouri 63166–2034. 

Comments can also be sent 

electronically to 

Comments.applications@stls.frb.org: 

1. First State Capital Corporation, 

Holly Springs, Mississippi; to merge 

with M&F Bancorp, Inc., and thereby 

indirectly acquire Merchant and 

Farmers Bank, both of Holly Springs, 

Mississippi. 

Board of Governors of the Federal Reserve 

System, June 4, 2021. 

Ann Misback, 

Secretary of the Board. 

[FR Doc. 2021–12083 Filed 6–8–21; 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, without revision, the Basel 

II Interagency Pillar 2 Supervisory 

Guidance (FR 4199; OMB No. 7100– 

0320). 

DATES: Comments must be submitted on 

or before August 9, 2021. 

ADDRESSES: You may submit comments, 

identified by FR 4199 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 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 identifying 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—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. 

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 PRA to approve and 

assign OMB control numbers to 


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