69476 Federal Register / Vol. 79, No. 225 / Friday, November 21, 2014 / Notices 

charge rule) and the rule requiring 

providers to maintain captions—off as 

the default setting for IP CTS 

equipment. Sorenson Communications, 

Inc. and CaptionCall, LLC v. FCC, 755 

F.3d 702 (D.C. Cir. 2014) (D.C. Circuit IP 

CTS Order). 

On August 22, 2014, the Commission 

issued Telecommunications Relay 

Services and Speech-to-Speech Services 

for Individuals with Hearing and 

Speech Disabilities; Waivers of iTRS 

Mandatory Minimum Standards, CG 

Docket No. 03–123, Report and Order, 

79 FR 62875, October 21, 2014 (iTRS 

Waiver Order), to make permanent 

waivers of certain TRS mandatory 

minimum standards and eliminate 

waivers of other TRS mandatory 

minimum standards for IP CTS and 

CTS. The Commission also eliminated 

the requirement that IP CTS and CTS 

providers file annual reports regarding 

the TRS mandatory minimum 

standards. 

This notice and request for comments 

pertains to revisions to the information 

collection requirements as a result of the 

iTRS Waiver Order eliminating the 

requirement that IP CTS and CTS 

providers file annual reports regarding 

the TRS mandatory minimum standards 

and as a result of the D.C. Circuit IP CTS 

Order vacating the $75 equipment 

charge rule and the rule requiring 

providers to maintain captions—off as 

the default setting for IP CTS 

equipment. 

Federal Communications Commission. 

Marlene H. Dortch, 

Secretary, Office of the Secretary, Office of 

the Managing Director. 

[FR Doc. 2014–27524 Filed 11–20–14; 8:45 am] 

BILLING CODE 6712–01–P 

FEDERAL COMMUNICATIONS 

COMMISSION 

[OMB 3060–0927] 

Information Collection Being Reviewed 

by the Federal Communications 

Commission Under Delegated 

Authority 

AGENCY: Federal Communications 

Commission. 

ACTION: Notice and request for 

comments. 

SUMMARY: As part of its continuing effort 

to reduce paperwork burdens, and as 

required by the Paperwork Reduction 

Act (PRA) of 1995 (44 U.S.C. 3501– 

3520), the Federal Communication 

Commission (FCC or Commission) 

invites the general public and other 

Federal agencies to take this 

opportunity to comment on the 

following information collections. 

Comments are requested concerning: 

Whether the proposed collection of 

information is necessary for the proper 

performance of the functions of the 

Commission, including whether the 

information shall have practical utility; 

the accuracy of the Commission’s 

burden estimate; ways to enhance the 

quality, utility, and clarity of the 

information collected; ways to minimize 

the burden of the collection of 

information on the respondents, 

including the use of automated 

collection techniques or other forms of 

information technology; and ways to 

further reduce the information 

collection burden on small business 

concerns with fewer than 25 employees. 

The FCC may not conduct or sponsor 

a collection of information unless it 

displays a currently valid OMB control 

number. 

No person shall be subject to any 

penalty for failing to comply with a 

collection of information subject to the 

PRA that does not display a valid OMB 

control number. 

DATES: Written PRA comments should 

be submitted on or before January 20, 

2015. If you anticipate that you will be 

submitting comments, but find it 

difficult to do so within the period of 

time allowed by this notice, you should 

advise the contact listed below as soon 

as possible. 

ADDRESSES: Direct all PRA comments to 

Nicole Ongele, FCC, via email 

PRA@fcc.gov and to 

Nicole.Ongele@fcc.gov. 

FOR FURTHER INFORMATION CONTACT: For 

additional information about the 

information collection, contact Nicole 

Ongele at (202) 418–2991. 

SUPPLEMENTARY INFORMATION: 

OMB Control Number: 3060–0927. 

Title: Auditor’s Annual Independence 

and Objectivity Certification. 

Form Number: N/A. 

Type of Review: Extension of a 

currently approved collection. 

Respondents: Business or other forprofit entities. 

Number of Respondents: 4 

respondents; 4 responses. 

Estimated Time per Response: 5 

hours. 

Frequency of Response: Annual 

reporting requirement. 

Obligation to Respond: Required to 

obtain or retain benefits. Statutory 

authority for this information collection 

is contained in 47 U.S.C. Sections 

201(b), 219(b) and 220 of the 

Communications Act of 1934, as 

amended. 

Total Annual Burden: 20 hours. 

Total Annual Cost: No cost. 

Privacy Impact Assessment: No 

impact(s). 

Nature and Extent of Confidentiality: 

There is no need for confidentiality. 

However, respondents may request 

materials or information submitted to 

the Commission be withheld from 

public inspection under 47 CFR 0.459 of 

the Commission’s rules. 

Needs and Uses: Section 64.904 

requires certain local exchange carriers, 

in connection with their cost allocation 

manual filings and the accompanying 

financial reports the Commission 

prescribes under 47 U.S.C. 201(b), 

219(b) and 220, to have an attest 

engagement performed by an 

independent auditor every two years, 

over the prior two year period. The 

attest engagement is to be performed in 

accordance with the attestation 

standards established by the American 

Institute of Certified Public Accountants 

(AICPA), except as otherwise directed 

by the Chief, Enforcement Bureau. The 

audit is to be conducted in compliance 

with generally accepted auditing 

standards (GAAS), except as otherwise 

directed by the Commission’s 

Enforcement Bureau. The Responsible 

Accounting Office (RAO) letter requires 

that carriers’ independent auditors: 

(a) Disclose in writing all 

relationships between the auditor and 

its related entities and the carrier and its 

related entities that in the auditor’s 

professional judgment may reasonably 

be thought to bear on independence; 

(b) Confirm in writing that in its 

professional judgment it is independent 

of the carrier; and 

(c) Discuss the auditor’s 

independence. 

The information is used by the 

Commission to determine whether the 

independent auditors are performing 

their audits independently and 

unbiased of the carrier they audit. 

Federal Communications Commission. 

Marlene H. Dortch, 

Secretary, Office of the Secretary, Office of 

the Managing Director. 

[FR Doc. 2014–27525 Filed 11–20–14; 8:45 am] 

BILLING CODE 6712–01–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: Notice is hereby given of the 

final approval of a proposed information 

mstockstill on DSK4VPTVN1PROD with NOTICES

Federal Register / Vol. 79, No. 225 / Friday, November 21, 2014 / Notices 69477 

1Also included in this family of reports are the 

following reports, which are not being revised: the 

Financial Statements of U.S. Nonbank Subsidiaries 

Held by Foreign Banking Organizations (FR Y–7N) 

and the Abbreviated Financial Statements of U.S. 

Nonbank Subsidiaries Held by Foreign Banking 

Organizations (FR Y–7NS). 

2Total combined assets of the top-tier FBO’s U.S. 

domiciled affiliates should exclude the assets of 

section 2(h)(2) companies as defined in section 

2(h)2 of the Bank Holding Company Act (12 U.S.C. 

1841(h)(2)) and DPC branch subsidiaries. This item 

excludes the assets of U.S. branches and agencies. 

3 79 FR 17240, 17273 (March 27, 2014). 

4 12 CFR 252.152(b)(2). 

collection by the Board of Governors of 

the Federal Reserve System (Board) 

under OMB delegated authority, as per 

5 CFR 1320.16 (OMB Regulations on 

Controlling Paperwork Burdens on the 

Public). 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. 

FOR FURTHER INFORMATION CONTACT: 

Federal Reserve Board Acting Clearance 

Officer—John Schmidt—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. 

Final approval under OMB delegated 

authority of the revision, without 

extension, of the following report: 

Report title: Capital and Asset Report 

for Foreign Banking Organizations. 

Agency form number: FR Y–7Q. 

OMB control number: 7100–0125.1

Frequency: Quarterly and annually. 

Reporters: Foreign Banking 

Organizations. 

Estimated annual reporting hours: FR 

Y–7Q (quarterly): 763 hours; FR Y–7Q 

(annually): 65 hours. 

Estimated average hours per response: 

FR Y–7Q (quarterly): 1.75 hours; FR Y– 

7Q (annually): 1.5 hours. 

Number of respondents: FR Y–7Q 

(quarterly): 109; FR Y–7Q (annually): 

43. 

General description of report: This 

information collection is mandatory (12 

U.S.C. 1844(c), 3106(c) and 3108)). 

Overall, the Federal Reserve does not 

consider these data to be confidential. 

However, individual respondents may 

request confidential treatment for any of 

these reports pursuant to sections (b)(4) 

and (b)(6) of the Freedom of Information 

Act (5 U.S.C. 522(b)(4) and (b)(6)). The 

applicability of these exemptions would 

need to be determined on a case-by-case 

basis. 

Abstract: The FR Y–7Q collects 

consolidated regulatory capital 

information from all FBOs either 

quarterly or annually. The FR Y–7Q is 

filed quarterly by FBOs that have 

effectively elected to become financial 

holding companies (FHCs) and by FBOs 

that have total consolidated assets of 

$50 billion or more, regardless of FHC 

status. All other FBOs file the FR Y–7Q 

annually. 

Current Actions: On June 18, 2014, 

the Federal Reserve published a notice 

in the Federal Register (79 FR 34753) 

requesting public comment for 60 days 

on the revision to the FR Y–7Q. The 

comment period for this notice expired 

on August 18, 2014. The Federal 

Reserve received one comment letter 

addressing the proposed revision of this 

information collection. The comment is 

summarized and addressed below. 

Summary of Public Comment 

The Federal Reserve received one 

comment letter regarding the proposed 

revision to the FR Y–7Q from one 

industry association. The commenter 

asked for an explanation of the 

instructions for calculating the proposed 

new data item, Total U.S. non-branch 

assets, and suggested an alternative 

approach for calculating the new item. 

Detailed Discussion of Public Comment 

and Recommended Response 

Under the proposal, in December 

2014, the Federal Reserve proposed to 

collect a new data item, Total U.S. nonbranch assets, to determine whether an 

FBO meets the threshold for formation 

of a U.S. IHC. This item would collect 

the sum of the total combined assets of 

a top-tier FBO’s top-tier U.S. domiciled 

affiliates.2 In situations where a top-tier 

U.S. domiciled affiliate is a parent of 

one or more subsidiaries, the total 

consolidated assets of the affiliate 

would include the assets of the affiliate 

and its subsidiaries, in accordance with 

U.S. Generally Accepted Accounting 

Principles (GAAP), and the total 

consolidated assets (or total assets, as 

applicable) of each top-tier U.S. 

domiciled affiliate would be combined. 

In situations where a top-tier U.S. 

domiciled subsidiary is not 

consolidated with the FBO for GAAP 

purposes, that entity would be 

accounted for under the equity method 

and the sum of the amount of the 

investments would be included in the 

sum of the total combined assets of toptier U.S. domiciled affiliates. 

The Federal Reserve received one 

comment on the proposed new item, 

Total U.S. non-branch assets. To 

produce the new item, the commenter 

suggested subtracting total U.S. branch 

and agency assets from an existing 

report item, Total combined assets of 

U.S. operations, net of intercompany 

balances and transaction between U.S. 

domiciled affiliates, branches, and 

agencies. However, the modification 

suggested by the commenter would 

result in FBOs understating their U.S. 

non-branch assets because the U.S. 

subsidiaries’ asset exposures to 

affiliated U.S. branches and agencies 

would be excluded from the calculation. 

As described in the preamble to 

Regulation YY, the final rule requires an 

FBO to reduce its U.S. non-branch asset 

by the amount corresponding to any 

balances and transactions between any 

top tier U.S. subsidiaries that would be 

eliminated in consolidation.3 However, 

the final rule does not permit an FBO to 

reduce its U.S. non-branch asset by the 

amount corresponding to balances and 

transactions between the U.S. 

subsidiaries and its U.S. branches and 

agencies or non-U.S. affiliates.4

After careful consideration of the 

suggested alternative and for the reasons 

discussed above, the Federal Reserve 

will implement the proposed line item 

without modification. 

Board of Governors of the Federal Reserve 

System, November 17, 2014. 

Robert deV. Frierson, 

Secretary of the Board. 

[FR Doc. 2014–27506 Filed 11–20–14; 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 

mstockstill on DSK4VPTVN1PROD with NOTICES