Notice of Proposals To Engage in or To Acquire Companies Engaged in Permissible Nonbanking Activities
| Published date | 30 October 2020 |
| Record Number | 2020-24096 |
| Section | Notices |
| Court | Federal Reserve System |
68881
Federal Register / Vol. 85, No. 211 / Friday, October 30, 2020 / Notices
Standardized approach: Recordkeeping and disclosure Type of
burden
Estimated
number of
respondents
Estimated
time per
response
Frequency of
response
Total
annual
estimated
burden
(S.E.)—Section ll.42(e)(2), (C.R.) Sections
ll.62(a),(b),& (c), (Q&Q) Sections ll.63(a) & (b)
and ll.63 Tables: Ongoing.
Disclosure ............. 1 131.25 Quarterly ............... 525
Subtotal: One-time Recordkeeping and Disclosure ...... ............................... .................... .................. ............................... 348
Subtotal: Ongoing Recordkeeping and Disclosure ....... ............................... .................... .................. ............................... 65,925
Total Recordkeeping and Disclosure ..................... ............................... .................... .................. ............................... 66,273
ESTIMATED COST TO RESPONDENTS ASSOCIATED WITH HOURLY BURDEN
Total One-Time Burden Hours ............................................. ............................... .................... .................. ............................... 1,136
Total Ongoing Burden Hours ................................................ ............................... .................... .................. ............................... 119,120
Total Burden Hours ....................................................... ............................... .................... .................. ............................... 120,256
General Description of Collection:
This collection comprises the disclosure
and recordkeeping requirements
associated with minimum capital
requirements and overall capital
adequacy standards for insured state
nonmember banks, state savings
associations, and certain subsidiaries of
those entities. The data is used by the
FDIC to evaluate capital before
approving various applications by
insured depository institutions, to
evaluate capital as an essential
component in determining safety and
soundness, and to determine whether an
institution is subject to prompt
corrective action provisions. In
addition, the Regulatory Capital Rule:
Temporary Exclusion of U.S. Treasury
Securities and Deposits at Federal
Reserve Banks from the Supplementary
Leverage Ratio for Depository
Institutions, 85 FR 32980 (June 1, 2020)
added a new opt-in provision in 12 CFR
324.304 for the temporary exclusion
from the total leverage ratio. The new
opt-in provision accounts for a slight
increase of 84 burden hours.
After factoring in the slight increase
in burden hours as a result of the new
opt-in provision, along with the changes
to the respondent count as a result of
economic fluctuation, the information
collection is reduced overall by 7,800
hours. Outside of the new opt-in
provision, the hours per response and
frequency of responses for the rest of the
information collection have remained
the same.
Request for Comment: Comments are
invited on: (a) Whether the collection of
information is necessary for the proper
performance of the FDIC’s functions,
including whether the information has
practical utility; (b) the accuracy of the
estimates of the burden of the
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 the
collection of information on
respondents, including through the use
of automated collection techniques or
other forms of information technology.
All comments will become a matter of
public record.
Federal Deposit Insurance Corporation.
Dated at Washington, DC, on October 27,
2020.
James P. Sheesley,
Assistant Executive Secretary.
[FR Doc. 2020–24074 Filed 10–29–20; 8:45 am]
BILLING CODE 6714–01–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 10 of
the Home Owners’ Loan Act (12 U.S.C.
1467a) (HOLA) and Regulation LL (12
CFR part 238) 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 § 238.53 of Regulation
LL (12 CFR 238.53). 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
whether the proposed transaction
complies with the standards
enumerated in section 10(c)(4)(B) of the
HOLA (12 U.S.C. 1467a(c)(4)(B)).
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 November 16, 2020.
A. Federal Reserve Bank of St. Louis
(David L. Hubbard, Senior Manager)
P.O. Box 442, St. Louis, Missouri
63166–2034. Comments can also be sent
electronically to
Comments.applications@stls.frb.org:
1. BancKentucky, Inc., Murray,
Kentucky; to engage de novo in the
acquisition of improved real estate for
remodeling, rehabilitation,
modernization, renovation, or
demolition and rebuilding for sale or for
rental and maintenance and
management of improved real estate
pursuant to sections 238.53(b)(7) and
(b)(8) of Regulation LL.
Board of Governors of the Federal Reserve
System, October 27, 2020.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2020–24096 Filed 10–29–20; 8:45 am]
BILLING CODE 6210–01–P
VerDate Sep<11>2014 21:10 Oct 29, 2020 Jkt 253001 PO 00000 Frm 00049 Fmt 4703 Sfmt 9990 E:\FR\FM\30OCN1.SGM 30OCN1
jbell on DSKJLSW7X2PROD with NOTICES
