Federal Register / Vol. 86, No. 105 / Thursday, June 3, 2021 / Notices 29775 

Title: Service Provider and Billed 

Entity Identification Number and 

Contact Information Form. 

Form Number: FCC Form 498. 

Type of Review: Extension of a 

currently approved collection. 

Respondents: Business or other forprofit and Not-for-profit institutions. 

Number of Respondents and 

Responses: 26,000 respondents; 26,000 

responses. 

Estimated Time per Response: 0.75 

hours. 

Frequency of Response: On occasion 

reporting requirements. 

Obligation to Respond: Required to 

obtain or retain benefits. Statutory 

authority for this information collection 

is contained in 47 U.S.C. 151–154 and 

254 the Communications Act of 1934, as 

amended. 

Total Annual Burden: 19,500 hours. 

Total Annual Cost: No cost. 

Privacy Act Impact Assessment: No 

impact(s). 

Nature and Extent of Confidentiality: 

The Commission notes that the 

Universal Service Administrative 

Company (USAC) who administers the 

universal service program must preserve 

the confidentiality of all data obtained 

from respondents and contributors to 

the universal service programs, must not 

use the data except for purposes of 

administering the universal service 

programs, and must not disclose data in 

company-specific form unless directed 

to do so by the Commission. With 

respect to the FCC Form 498, USAC 

shall publish each participant’s name, 

SPIN, and contact information via 

USAC’s website. All other information, 

including financial institution account 

numbers or routing information, shall 

remain confidential. 

Needs and Uses: One of the functions 

of the Universal Service Administrative 

Company (USAC) is to provide a means 

for the billing, collection and 

disbursement of funds for the universal 

service support mechanisms. On 

October 1998, the OMB approved FCC 

Form 498, the ‘‘Service Provider 

Information Form’’ to enable USAC to 

collect service provider name and 

address, telephone number, Federal 

Employer Identification Number (EIN), 

contact names, contact telephone 

numbers, and remittance information. 

FCC Form 498 enables participants to 

request a Service Provider Identification 

Number (SPIN) and provides the official 

record for participation in the universal 

service support mechanisms. The 

remittance information provided by 

participants on FCC Form 498 enables 

USAC to make payments to participants 

in the universal service support 

mechanisms. 

Pursuant to 47 CFR 54.202, 54.301, 

54.303, 54.307, 54.309, 54.311, 54.504, 

54.407, 54.422, 54.514, 54.515, 54.679, 

54.702, 54.802, and 54.902, USAC 

collects service provider name, phone 

numbers, other contact information, and 

remittance information for all four of the 

universal service support mechanisms— 

Schools and Libraries, Rural Health 

Care, High-Cost and Low-Income 

(commonly referred to as Lifeline). On 

July 23, 2014, the Commission released 

an Order and FNPRM (WC Docket No. 

13–184, FCC 14–99; 79 FR 49160, 

August 19, 2014) (E-rate Modernization 

Order) modernizing the E-rate program. 

Specifically, the E-rate Modernization 

Order revised the Commission rules to 

allow an applicant that pays the full 

cost of the Schools and Libraries (E-rate) 

supported services to a service provider 

to receive direct reimbursement from 

USAC. 

The Digital Accountability and 

Transparency Act (DATA Act) directs 

Federal agencies to report financial 

obligations and standardize the 

information that recipients of federal 

funds report to government agencies. To 

comply with the DATA Act, the DATA 

Act Business Type is reported on FCC 

Form 498. When completing or 

updating this form, service providers 

and billed entities are required to select 

up to three business types that best 

describes the organization. 

Federal Communications Commission. 

Marlene Dortch, 

Secretary, Office of the Secretary. 

[FR Doc. 2021–11677 Filed 6–2–21; 8:45 am] 

BILLING CODE 6712–01–P 

FEDERAL MARITIME COMMISSION 

Notice of Agreements Filed 

The Commission hereby gives notice 

of the filing of the following agreements 

under the Shipping Act of 1984. 

Interested parties may submit 

comments, relevant information, or 

documents regarding the agreements to 

the Secretary by email at Secretary@

fmc.gov, or by mail, Federal Maritime 

Commission, Washington, DC 20573. 

Comments will be most helpful to the 

Commission if received within 12 days 

of the date this notice appears in the 

Federal Register. Copies of agreements 

are available through the Commission’s 

website (www.fmc.gov) or by contacting 

the Office of Agreements at (202)-523– 

5793 or tradeanalysis@fmc.gov. 

Agreement No.: 201217–004. 

Agreement Name: Port of Long Beach 

Data Services Agreement. 

Parties: The City of Long Each, acting 

by and through its Board of Harbor 

Commissioners, PierPASS LLC, 

International Transportation Service, 

LLC; LBCT LLC d/b/a Long Beach 

Container Terminal LLC.; Total 

Terminals International, LLC; Pacific 

Maritime Services, L.L.C.; SSAT (Pier 

A), LLC; and SSA Terminals, LLC. 

Synopsis: The amendment extends 

the duration of the agreement, revises 

the maximum amount of compensation 

payable thereunder in light of the 

extension, and makes non-substantive 

revisions to Article 9.5. The parties 

request expedited review. 

Proposed Effective Date: 7/11/2021. 

Location: https://www2.fmc.gov/FMC.

Agreements.Web/Public/Agreement

History/13210. 

Dated: May 28, 2021. 

Rachel E. Dickon, 

Secretary. 

[FR Doc. 2021–11656 Filed 6–2–21; 8:45 am] 

BILLING CODE 6730–02–P 

FEDERAL RESERVE SYSTEM 

Notice of Proposals To Engage in or 

To Acquire Companies Engaged in 

Permissible Nonbanking Activities 

The companies listed in this notice 

have given notice under section 4 of the 

Bank Holding Company Act (12 U.S.C. 

1843) (BHC Act) and Regulation Y, (12 

CFR part 225) to engage de novo, or to 

acquire or control voting securities or 

assets of a company, including the 

companies listed below, that engages 

either directly or through a subsidiary or 

other company, in a nonbanking activity 

that is listed in § 225.28 of Regulation Y 

(12 CFR 225.28) or that the Board has 

determined by Order to be closely 

related to banking and permissible for 

bank holding companies. Unless 

otherwise noted, these activities will be 

conducted throughout the United States. 

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 

question whether the proposal complies 

with the standards of section 4 of the 

BHC Act. 

Unless otherwise noted, comments 

regarding the applications must be 


khammond on DSKJM1Z7X2PROD with NOTICES
29776 Federal Register / Vol. 86, No. 105 / Thursday, June 3, 2021 / Notices 

1See https://www.federalreserve.gov/ 

paymentsystems/psr_about.htm. 

2 Depository institutions include commercial 

banks, savings banks, savings and loan associations, 

and credit unions. 

3See section II.D.1 of the PSR policy. 

4 Id. The size of an institution’s net debit cap 

equals the institution’s ‘‘capital measure’’ 

multiplied by its ‘‘cap multiple.’’ An institution’s 

capital measure is a number derived from the size 

of its capital base. An institution’s cap multiple is 

determined by the institution’s cap category. Under 

section II.D.2 of the PSR policy, an institution’s 

‘‘cap category’’ is one of six classifications: The 

three self-assessed categories (‘‘high,’’ ‘‘above 

average,’’ and ‘‘average’’); ‘‘de minimis;’’ ‘‘exemptfrom-filing;’’ and ‘‘zero.’’ 

5To assist institutions in implementing part II of 

the PSR policy, the Federal Reserve has prepared 

two documents: The Overview of the Federal 

Reserve’s Payment System Risk Policy on Intraday 

Credit (Overview) and the Guide to the Federal 

Reserve’s Payment System Risk Policy on Intraday 

Credit (Guide). The Guide contains detailed 

eligibility standards for requesting and maintaining 

uncollateralized capacity. 

6See 73 FR 79109 (December 24, 2008). These 

changes were not fully implemented until 2011. 

7See section II.B of the PSR policy. 

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 6, 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. Shore Bancshares, Inc., Easton, 

Maryland; to acquire Severn Bancorp, 

Inc., and thereby indirectly acquire 

Severn Savings Bank, FSB, both of 

Annapolis, Maryland, and thereby 

engage in operating a savings 

association pursuant to section 

225.28(b)(4)(ii) of Regulation Y. 

Board of Governors of the Federal Reserve 

System, May 28, 2021. 

Michele Taylor Fennell, 

Deputy Associate Secretary of the Board. 

[FR Doc. 2021–11685 Filed 6–2–21; 8:45 am] 

BILLING CODE P 

FEDERAL RESERVE SYSTEM 

[Docket No. OP–1749] 

Potential Modifications to the Federal 

Reserve Policy on Payment System 

Risk To Expand Access to 

Collateralized Intraday Credit, Clarify 

Access to Uncollateralized Credit, and 

Support the Deployment of the 

FedNow Service 

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) is 

requesting comment on proposed 

changes to part II of the Federal Reserve 

Policy on Payment System Risk (PSR 

policy) that would expand access to 

collateralized intraday credit from the 

Federal Reserve Banks (Reserve Banks) 

and clarify the eligibility standards for 

accessing uncollateralized intraday 

credit from Reserve Banks. These 

proposed changes build upon the 

revisions to the PSR policy adopted in 

2008 and implemented in 2011, which 

the Board designed to improve intraday 

liquidity management and payment 

flows for the banking system while 

helping to mitigate the credit exposures 

of the Reserve Banks from daylight 

overdrafts. In addition, the Board is 

requesting comment on changes to part 

II of the PSR policy to support the 

deployment of the FedNowSM Service 

(FedNow Service). Relatedly, the Board 

is proposing to incorporate the Federal 

Reserve Policy on Overnight Overdrafts 

(Overnight Overdrafts policy) into the 

PSR policy. 

DATES: Comments on the proposed 

changes must be received on or before 

August 2, 2021. 

ADDRESSES: You may submit comments, 

identified by Docket No. OP–1749, by 

any of the following methods: 

• Agency Website: http://

www.federalreserve.gov. Follow the 

instructions for submitting comments at 

http://www.federalreserve.gov/ 

generalinfo/foia/ProposedRegs.cfm. 

• Email: regs.comments@

federalreserve.gov. Include docket 

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 

www.federalreserve.gov/generalinfo/ 

foia/ProposedRegs.cfm as submitted, 

unless modified for technical reasons or 

to remove personally identifiable 

information at the commenter’s request. 

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 146, 1709 New 

York Avenue NW, Washington, DC 

20006, between 9:00 a.m. and 5:00 p.m. 

on weekdays. Please make an 

appointment to inspect comments by 

calling (202) 452–3684. 

FOR FURTHER INFORMATION CONTACT: 

Jason Hinkle, Assistant Director (202– 

912–7805), Michelle Olivier, Lead 

Financial Institution Policy Analyst 

(202–452–2404), Brajan Kola, Senior 

Financial Institution Policy Analyst 

(202–736–5683) Division of Reserve 

Bank Operations and Payment Systems, 

or Evan Winerman, Senior Counsel 

(202–872–7578), Legal Division, Board 

of Governors of the Federal Reserve 

System. For users of 

Telecommunications Device for the Deaf 

(TDD) only, please contact 202–263– 

4869. 

SUPPLEMENTARY INFORMATION: 

I. Background 

A. Intraday Credit in the PSR Policy 

The PSR policy is intended to foster 

the safety and efficiency of payment and 

settlement systems.1 Part II of the PSR 

policy governs the provision of intraday 

credit (also known as daylight 

overdrafts) to depository institutions 2

(institutions) with accounts at the 

Reserve Banks. In particular, part II of 

the PSR policy outlines the methods 

used to provide intraday credit to 

ensure the smooth functioning of 

payment and settlement systems, while 

controlling credit risk to the Reserve 

Banks associated with intraday credit. 

To be eligible for intraday credit, the 

PSR policy requires that an institution 

be ‘‘financially healthy’’ and have 

regular access to the discount window.3

The PSR policy also establishes limits, 

or ‘‘net debit caps,’’ on the value of an 

institution’s daylight overdrafts.4 The 

Reserve Banks use an ex post system to 

measure daylight overdrafts in 

institutions’ Federal Reserve accounts. 

An institution’s eligibility for intraday 

credit depends on various factors 

including the institution’s most recent 

financial and supervisory information. 

An institution’s supervisory rating, as 

well as the ratings of its holding 

company and affiliate institutions, are 

key components of the process for 

determining an institution’s eligibility 

for intraday credit.5

In 2008, the Board approved changes 

to part II of the PSR policy to encourage 

greater collateralization of daylight 

overdrafts, recognizing that collateral 

reduces credit risk to Reserve Banks.6 In 

particular, the 2008 changes amended 

the PSR policy to state that ‘‘the Reserve 

Banks supply intraday balances and 

credit predominantly through explicitly 

collateralized daylight overdrafts to 

healthy institutions.’’ 7 In addition, the 

Board included explicit language that 

emphasized the role of the Reserve 

Banks in providing intraday credit to 

institutions in order to ensure the 


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