The form used by savings and loan holding companies (SLHCs) to register with the Federal Reserve Board is up for renewal, and the Fed is proposing to add a several items to this information collection regarding SLHC subsidiaries, the firm’s mailing address, the printed name of the filing officer certifying the information provided, and a request for the date of the filing officer’s signature.
The Fed also proposes revise the form to account for a requirement noted in the instructions that respondents retain a signed copy of the form and the data submitted, the notice states.
The Fed acquired supervisory authority over SLHCs when the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank) transferred that authority from the now-defunct Office of Thrift Supervision (OTS). The Fed, in its Federal Register notice for public comment of the proposed changes, estimates eight entities will use the registration statement annually.
The registration statement – FR LL-10(b) – requests information from registering SLHCs on the financial condition, ownership, operations, management, and intercompany relationships of the SLHC and its subsidiaries. the Fed’s notice states that filers also must include information concerning the transaction that resulted in the entity becoming an SLHC, a description of the SLHC’s business, and a description of any changes related to the financial condition, ownership, operations, intercompany relationships, and management of the SLHC and its subsidiaries since the registrant’s application to become an SLHC was approved.
The principal executive or principal financial officer of the registering SLHC must certify that the information contained in the submission has been carefully reviewed and is true, correct, and complete.
The Fed is proposing a three-year renewal of the FF LL-10(b) with the changes noted above. It says it will accept comments from the public for 60 days following publication in the Federal Register, slated for Thursday.