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Federal Register / Vol. 86, No. 233 / Wednesday, December 8, 2021 / Notices
proposed conforming clarifications in the Call Reports Glossary.
To provide clarity for respondents, the Board proposed to revise the FR Y
9C Glossary instructions to incorporate changes under the brokered deposits final rule consistent with the proposed Call Report revisions. Specifically, the Board proposed to reorder the content of the Glossary entries for Brokered Deposits and Brokered Retail Deposits, to incorporate the revised content of the FDIC regulation, and to update reference to the FDIC insurance limit of $250,000. The Board did not propose otherwise to revise the FR Y
9C form or instructions in respect to brokered deposits.

jspears on DSK121TN23PROD with NOTICES1

SACCR Check Box On January 24, 2020, the agencies issued a final rule 19 SACCR final rule that amends the regulatory capital rule to implement a new approach for calculating the exposure amount for derivatives contracts for purposes of calculating the total risk-weighted assets RWA, which is called SACCR. The final rule also incorporates SACCR into the determination of the exposure amounts of derivatives for total leverage exposure under the supplementary leverage ratio and the cleared transaction framework under the capital rule.
Holding companies that are not advanced approaches banking organizations 20 may elect to use SA
CCR to calculate standardized total RWA by notifying the Board.21
Advanced approaches holding companies are required to use SACCR
to calculate standardized total RWA
starting on January 1, 2022. Advanced approaches holding companies may adopt SACCR prior to January 1, 2022, but must notify the Board of their early adoption.22
The Board proposed to revise the FR
Y9C forms and instructions by adding new line item 31.b, Standardized Approach for Counterparty Credit Risk opt-in election. The Board proposed to add this new item to identify holding companies that have chosen to early adopt or voluntarily elect SACCR, which would allow for enhanced comparability of the reported derivative data and for better supervision of the implementation of the framework at these holding companies. Due to the inherent complexity of adopting SA
CCR, identification of non-advanced 19 See
85 FR 4362 January 24, 2021.
12 CFR 217.2 defining Advanced approaches Board-regulated institution.
21 12 CFR 217.34a1ii.
22 12 CRF 217.300h.
20 See
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approaches institutions that choose to voluntarily adopt SACCR is particularly important for their supervision.
Under the proposal, a non-advanced approaches holding company that adopts SACCR would have entered 1
for Yes in line item 31.b. All other non-advanced approaches holding companies would have left this item blank. If a non-advanced approaches holding company has elected to use SA
CCR, the holding company may change its election only with prior approval of the Board.23 An advanced approaches holding company that elects to early adopt SACCR prior to the January 1, 2022, mandatory compliance date would have entered 1 for Yes in line item 31.b. After January 1, 2022, an advanced approaches holding company would have left this item blank. This proposed reporting change would have taken effect starting with the December 31, 2021, FR Y9C report. This item would have no longer been applicable to advanced approaches holding companies starting with the March 31, 2022, report date. There would have been no material change in burden to the FR Y9C report related to this revision.
The comment period for this notice expired on Monday, November 8, 2021.
The Board did not receive any comments. The revisions will be implemented as proposed.
A comment was received on a comparable proposal involving the Consolidated Reports of Condition and Income Call Report FFIEC 031, FFIEC
041and FFIEC 051; OMB Control Number 71000036. The comment was generally supportive of the proposed new line item related to the SACCR
final rule. The Board has taken the comments from the proposed changes to the Call Report into consideration in finalizing the proposed FR Y9C
changes and the Board intends to add the new item for SACCR, as proposed.
Board of Governors of the Federal Reserve System, December 3, 2021.
Ann Misback, Secretary of the Board.
FR Doc. 202126598 Filed 12721; 8:45 am BILLING CODE 621001P

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 23 12

PO 00000

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 Banks 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 Boards 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. 1842c.
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 205510001, not later than January 7, 2022.
A. Federal Reserve Bank of Kansas City Jeffrey Imgarten, Assistant Vice President 1 Memorial Drive, Kansas City, Missouri 641980001:
1. Pauls Valley Bancorp, Inc., Pauls Valley, Oklahoma; to acquire Valley Bancshares, Inc., and thereby indirectly acquire The Pauls Valley National Bank, both of Pauls Valley, Oklahoma.
B. Federal Reserve Bank of San Francisco Sebastian Astrada, Director, Applications 101 Market Street, San Francisco, California 941051579:
1. Columbia Banking System, Inc., Tacoma, Washington; to acquire Umpqua Holdings Corporation, Portland, Oregon, and thereby indirectly acquire Umpqua Bank, Roseburg, Oregon.
Board of Governors of the Federal Reserve System, December 3, 2021.
Ann E. Misback, Secretary of the Board.
FR Doc. 202126574 Filed 12721; 8:45 am BILLING CODE 621001P

CFR 217.34a1ii.

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