FR Y-14AQM final Federal Register notice

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incentives for or do not deter higher
costs should be avoided.

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Approach to Certain Lender Placed
Insurance Practices
For mortgages that the Enterprises
purchase or guarantee, FHFA
anticipates that the Enterprises will put
in place restriction on lender placed
insurance practices enumerated below.
Before any such restrictions take effect,
FHFA seeks input from the public and
interested parties for 60 days from the
publication of this Notice. After
considering input received, FHFA will
determine what elements of the
restrictions may or may not be
maintained, amended or revised in its
direction to the Enterprises. Four
months subsequent to the receipt of
such input, and in consultation with the
Conservator, Fannie Mae and Freddie
Mac will provide aligned guidance to
sellers and servicers, including
implementation schedules related to
these particular lender placed insurance
practices.2
The specific practices related to
lender placed insurance that FHFA has
determined pose risks to the Enterprises
or run contrary to the duties of the
Conservator and for which actions are
specified are practices where there are
concerns regarding conflicts between
parties to the insurance agreement,
including:
1. Certain Sales Commissions. The
Enterprises shall prohibit sellers and
servicers from receiving, directly or
indirectly, remuneration associated with
placing coverage with or maintaining
placement with particular insurance
providers.
2. Certain Reinsurance Activities. The
Enterprises shall prohibit sellers and
servicers from receiving, directly or
indirectly, remuneration associated with
an insurance provider ceding premiums
to a reinsurer that is owned by, affiliated
with or controlled by the sellers or
servicer.
Input
FHFA invites input from any person
with views on the planned practice
limitations set forth above. FHFA also
invites input on enhancing the
transparency and consumer and
investor protections related to lender
placed insurance as well as regarding
other practices that may operate to the
detriment of the Enterprises operating in
conservatorships. Further, FHFA is
interested in whether there is data or
information that would run contrary to
2 Actions

by the Enterprises only affect loans that
they purchase or guarantee; their seller-servicer
guides have no effect on practices of insurers except
for dealings with the Enterprises.

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the intended results sought by FHFA.
Finally, FHFA is interested in the
amount of time and difficulties
associated with altering contracts
between contractors and Enterprise
servicers as would result from the
planned approach.
FHFA will accept public input
through its Office of Housing and
Regulatory Policy (OHRP), no later than
May 28, 2013, as the agency moves
forward with its deliberations on
appropriate action. Communications
may be addressed to Federal Housing
Finance Agency, OHRP, Constitution
Center, 400 Seventh Street SW., Ninth
Floor, Washington, DC 20024, or
emailed to [email protected].
Communications to FHFA may be made
public and posted without change on
the FHFA Web site at http://
www.fhfa.gov, and would include any
personal information provided, such as
name, address (mailing and email), and
telephone numbers.
Dated: March 25, 2013.
Edward J. DeMarco,
Acting Director, Federal Housing Finance
Agency.
[FR Doc. 2013–07338 Filed 3–28–13; 8:45 am]
BILLING CODE 8070–01–P

FEDERAL RESERVE SYSTEM
Agency Information Collection
Activities: Announcement of Board
Approval Under Delegated Authority
and Submission to OMB
Board of Governors of the
Federal Reserve System.
SUMMARY: Notice is hereby given of the
final approval of a proposed information
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 Clearance
Officer, Cynthia Ayouch, Division of
AGENCY:

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Research and Statistics, 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 to revise the following report:
Report title: Capital Assessments and
Stress Testing information collection.
Agency form number: FR Y–14A/Q/
M.
OMB Control number: 7100–0341.
Effective Dates: March 31, 2013 and
June 30, 2013.
Frequency: Annually, semi-annual,
quarterly, and monthly.
Reporters: Large banking
organizations that meet an annual
threshold of $50 billion or more in total
consolidated assets (large Bank Holding
Companies or large BHCs), as defined by
the Capital Plan rule (12 CFR 225.8).1
Estimated annual reporting hours: FR
Y–14A: Summary, 50,160 hours; Macro
scenario, 1,860 hours; Counterparty
credit risk (CCR), 2,292 hours; Basel III/
Dodd-Frank, 600 hours; and Regulatory
capital, 600 hours. FR Y–14 Q:
Securities risk, 1,200 hours; Retail risk,
1,920 hours; Pre-provision net revenue
(PPNR), 75,000 hours; Wholesale
corporate loans, 6,720 hours; Wholesale
commercial real estate (CRE) loans,
6,480 hours; Trading risk, 41,280 hours;
Basel III/Dodd-Frank, 2,400 hours;
Regulatory capital, 4,800 hours; and
Operational risk, 3,360 hours; and
Mortgage Servicing Rights (MSR)
Valuation, 864 hours; Supplemental,
960 hours; and Retail Fair Value
Option/Held for Sale (Retail FVO/HFS),
1,216 hours. FR Y–14M: Retail 1st lien
mortgage, 153,000 hours; Retail home
equity, 146,880 hours; and Retail credit
card, 91,800 hours. FR Y–14
Implementation and On-Going
Automation: Start-up for new
respondents, 79,200 hours; and Ongoing revisions for existing respondents,
9,120 hours.
Estimated average hours per response:
FR Y–14A: Summary, 836 hours; Macro
scenario, 31 hours; CCR, 382 hours;
Basel III/Dodd-Frank, 20 hours; and
1 The Capital Plan rule applies to every top-tier
large BHC. This asset threshold is consistent with
the threshold established by section 165 of the
Dodd-Frank Act relating to enhanced supervision
and prudential standards for certain BHCs.

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Federal Register / Vol. 78, No. 61 / Friday, March 29, 2013 / Notices
Regulatory capital, 20 hours. FR Y–14Q:
Securities risk, 10 hours; Retail risk, 16
hours; PPNR, 625 hours; Wholesale
corporate loans, 60 hours; Wholesale
CRE loans, 60 hours; Trading risk, 1,720
hours; Basel III/Dodd-Frank, 20 hours;
Regulatory capital, 40 hours;
Operational risk, 28 hours, MSR
Valuation, 24 hours; Supplemental, 8
hours; and Retail FVO/HFS, 16 hours.
FR Y–14M: Retail 1st lien mortgage, 510
hours; Retail home equity, 510 hours;
and Retail credit card, 510 hours. FR Y–
14 Implementation and On-Going
Automation: Start-up for new
respondents, 7,200 hours; and On-going
revisions for existing respondents, 480
hours.
Number of respondents: 30.
General description of report: The FR
Y–14 series of reports are authorized by
section 165 of the Dodd-Frank Wall
Street Reform and Consumer Protection
Act of 2010 (Dodd-Frank Act), which
requires the Federal Reserve to ensure
that certain BHCs and nonbank financial
companies supervised by the Federal
Reserve are subject to enhanced riskbased and leverage standards in order to
mitigate risks to the financial stability of
the United States (12 U.S.C. 5365).
Additionally, section 5 of the BHC Act
authorizes the Board to issue regulations
and conduct information collections
with regard to the supervision of BHCs
(12 U.S.C. 1844).
As these data are collected as part of
the supervisory process, they are subject
to confidential treatment under
exemption 8 of the Freedom of
Information Act (FOIA) (5 U.S.C.
552(b)(8)). In addition, commercial and
financial information contained in these
information collections may be exempt
from disclosure under FOIA exemption
4 U.S.C. 552(b)(4)). Such exemptions
would be made on a case-by-case basis.
Abstract: The data collected through
the FR Y–14A/Q/M schedules provide
the Federal Reserve with the additional
information and perspective needed to
help ensure that large BHCs have strong,
firm-wide risk measurement and
management processes supporting their
internal assessments of capital adequacy
and that their capital resources are
sufficient given their business focus,
activities, and resulting risk exposures.
The annual Comprehensive Capital
Analysis and Review (CCAR) exercise is
also complemented by other Federal
Reserve supervisory efforts aimed at
enhancing the continued viability of
large BHCs, including (1) continuous
monitoring of BHCs’ planning and
management of liquidity and funding
resources and (2) regular assessments of
credit, market and operational risks, and
associated risk management practices.

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Information gathered in this data
collection is also used in the
supervision and regulation of these
financial institutions. In order to fully
evaluate the data submissions, the
Federal Reserve may conduct follow up
discussions with or request responses to
follow up questions from respondents,
as needed.
The annual FR Y–14A collects large
BHCs’ quantitative projections of
balance sheet, income, losses, and
capital across a range of macroeconomic
scenarios and qualitative information on
methodologies used to develop internal
projections of capital across scenarios.2
The quarterly FR Y–14Q collects
granular data on BHCs’ various asset
classes and PPNR for the reporting
period, which are used to support
supervisory stress test models and for
continuous monitoring efforts. The
monthly FR Y–14M comprises three
loan- and portfolio-level collections,
and one detailed address matching
collection to supplement two of the
loan- and portfolio-level collections for
first lien mortgages and home equity
mortgages.
On October 12, 2012, the Federal
Reserve published two final rules in the
Federal Register (77 FR 62409) with
stress testing requirements for certain
bank holding companies, state member
banks, and savings and loan holding
companies. The final rules implement
sections 165(i)(1) and (i)(2) of the DoddFrank Act. Section 165(i)(1) of the
Dodd-Frank Act requires the Board to
conduct an annual stress test of each
covered company 3 to evaluate whether
the covered company has sufficient
capital, on a total consolidated basis, to
absorb losses as a result of adverse
economic conditions (supervisory stress
tests). Section 165 (i)(2) requires the
Board to issue regulations that require
covered companies to conduct stress
tests semi-annually and require
financial companies with total
consolidated assets of more than $10
billion that are not covered companies
and for which the Federal Reserve is the
primary federal financial regulatory
agency to conduct stress tests on an
annual basis (collectively, company-run
stress tests).
Current actions: On December 20,
2012, the Federal Reserve published a
notice in the Federal Register (77 FR
75434) requesting public comment for
2 BHCs that must re-submit their capital plan
generally also must provide a revised FR Y–14A in
connection with their resubmission.
3 See 12 U.S.C. 5365(a). A ‘‘covered company’’
includes any bank holding company with total
consolidated assets of $50 billion or more and each
nonbank financial company that the Council has
designated for supervision by the Board.

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60 days on the revision of the FR Y–14
information collection. The Federal
Reserve proposed revisions to the
monthly FR Y–14M schedules and
modifications to the frequency for
certain FR Y–14A and FR Y–14Q
schedules, effective March 31, 2013, to
help refine supervisory stress tests and
better evaluate BHCs’ stress tests results.
Revisions to the FR Y–14M schedules
included: (1) Adding data items to all
three loan- and portfolio-level
collections, and the address matching
collection, (2) clarifying several data
items currently collected, and (3)
deleting data items that are no longer
needed. The comment period expired
on February 19, 2013. The Federal
Reserve received eleven comment letters
regarding the proposed changes: eight
from BHCs, two from private
companies, and one from a group of
trade associations.4 All substantive
comments are summarized and
addressed below.
Summary of Comments
Most of the comments received
requested clarification of the
instructions for the information to be
reported, or were technical in nature.
These comments will be addressed in
the final FR Y–14 reporting instructions.
The Federal Reserve also received three
comments not directly related to the
proposed revisions to the FR Y–14
information collection regarding
suggestions to (1) improve the current
Frequently Asked Questions process, (2)
prioritize collected data items in order
of importance to the Federal Reserve,
and (3) provide feedback to the midcycle company run stress test in a
timely manner. Federal Reserve plans to
take these comments under
consideration and address them at a
later date, as appropriate. The following
is a detailed discussion of aspects of the
proposed FR Y–14 collection for which
the Federal Reserve received one or
more substantive comments and an
evaluation of, and responses to the
comments received.
A. General
In general, commenters expressed
concerns about the overall expansion of
the information collection, the ongoing
frequency of modifications to the
reporting forms, and the increased
burden those modifications will cause
to reporters. Specifically, several
commenters noted that the proposal
substantially increases the number of
data items on the FR Y–14M schedules,
leaving BHCs insufficient time to make
4 Three trade associations submitted a joint
comment letter.

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appropriate changes to their models,
modify reporting systems, and integrate
these systems with their internal
controls structure. These commenters
also requested delayed implementation
of the revisions and guidance for BHCs
and recommended developing a ‘‘best
efforts standard’’ for missing or
incomplete data.
The Federal Reserve weighed the
potential increase in respondent burden
against the need to collect additional
information to enhance the Federal
Reserve’s ability to conduct effective
supervisory stress testing, and made
certain modifications to the proposal in
response to the comments received.
Specifically, the Federal Reserve will
eliminate 12 proposed and 2 existing
data items from the FR Y–14M
schedules and delay the effective date
until June 30, 2013 for most of the data
items being added to the FR Y–14M
schedules (except for the 8 proposed
Basel II items on the FR Y–14M firstlien and home equity schedules).5
Additional details on the items being
eliminated are provided below.
Furthermore, the Federal Reserve agrees
that changes to the reporting forms
should be less frequent and substantive
to allow for the development of mature
systems and processes and is working
towards minimizing changes to the FR
Y–14 reporting forms going forward.
Regarding the comment that a ‘‘best
efforts standard’’ be applied, one
commenter requested that such a
standard be applied to data items that
must be obtained from third parties.
Other commenters noted particular data
items that are difficult to obtain because
of their historical nature or because they
are part of portfolios that have been
acquired. Firms are expected to comply
with all regulatory reporting
requirements and firms that have
completed a merger or acquisition have
requested and been granted extensions
to allow additional time to reach full
compliance. However, the Federal
Reserve understands the difficulty in
obtaining certain data items,
particularly those obtained from third
parties, and will investigate providing
additional instructions regarding a ‘‘best
efforts standard.’’
Regarding the reporting forms, one
commenter suggested modifying the FR
Y–14 reporting forms to clearly
distinguish between the reporting of
5 There are four Basel II items being added to both
the First Lien Closed-End 1–4 Family Residential
Loan Schedule and the Domestic Home Equity Loan
and Home Equity Line Schedule: Basel II—
Probability of Default (PD), Basel II—Loss Given
Default (LGD), Basel II—Expected Loss Given
Default (ELGD), and Basel II—Exposure at Default
(EAD).

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retail loans secured by 1–4 family
residential properties from commercial
loans secured by similar collateral. The
Federal Reserve recognizes this
distinction in loan classification but
needs additional time to understand the
extent of this issue and will make this
distinction in a future proposal, if
appropriate. Additionally, one
commenter suggested that the formulas
in the FR Y–14A Summary Schedule be
modified to allow a firm to make one
submission for both the supervisory
baseline scenario and the BHC baseline
scenario if a firm uses the supervisory
baseline scenario as the BHC baseline
scenario. The Federal Reserve
understands the potential reduction in
burden of allowing one submission, but
believes additional investigation into
the effect this change may have on the
next annual Comprehensive Capital
Analysis and Review and Dodd-Frank
Act (DFA) stress test is warranted, and
will consider issuing further guidance to
address this comment.
Several commenters requested that
the Federal Reserve attempt to minimize
duplicative reporting requirements
among the Federal Reserve’s reporting
forms and between the Federal
Reserve’s and other agencies’ reporting
forms. One commenter expressed
concern over similar elements between
the Consolidated Financial Statements
for Bank Holding Companies (FR Y–9C;
OMB No. 7100–0128), FR Y–14A, and
FR Y–14Q and suggested the reporting
forms be changed to eliminate
duplication. While the Federal Reserve
recognizes that the aforementioned
reporting forms contain similar
elements, their differing frequencies,
data items, and levels of granularity
prevent consolidation of similar
elements on any one reporting form.
Another commenter suggested that
better alignment should be achieved
between the FR Y–14 and similar
reporting requirements of other banking
agencies. The Federal Reserve
coordinates closely with other federal
banking agencies that collect similar
information and is working to eliminate
duplicative requirements; however,
other agencies have independent
authority to collect such information.
The timing of reporting form
submissions to the Federal Reserve and
communication issued by the Federal
Reserve was noted as an issue by several
commenters. It was suggested by one
commenter that the reporting timeline
for the FR Y–14M should match the
reporting timeline for the FR Y–14Q/FR
Y–9C. Another commenter suggested
that the submission deadlines for both
the FR Y–14Q and FR Y–14M should be
five days after the deadline for the FR

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Y–9C to provide more time for
reconciliation between reporting forms.
The Federal Reserve notes that all filers
to date have largely complied with the
reporting submission deadlines, which
have been in place since the creation of
the aforementioned reporting forms. The
Federal Reserve needs to retain the
current submission deadlines in order to
allow sufficient time to conduct
supervisory responsibilities.
Numerous comments were received
inquiring whether firms are required to
submit historical data for new data
items on the FR Y–14M schedules. The
Federal Reserve generally notes that
unless a reporting form specifically
requests historical data, respondents are
not required to provide the Federal
Reserve with historical data for any new
data items.
Several commenters raised concerns
regarding the mid-cycle DFA company
run stress tests. One commenter
suggested reducing the burden on
reporters for the mid-cycle DFA
company run stress test by both limiting
the requirements for supporting
documentation (as stated in the
instructions to the FR Y–14A) and
creating an abbreviated version of the
FR Y–14A Summary Schedule. While
the Federal Reserve agrees that limiting
the supporting documentation for the
mid-cycle submission may effectively
reduce burden, creating an abbreviated
version of the FR Y–14A Summary
Schedule may prevent the Federal
Reserve from conducting a complete
analysis consistent with the annual
stress test.
B. FR Y–14M Credit Card Schedule
In the December 20th proposal, the
Federal Reserve proposed adding 65
new data items to the FR Y–14M Credit
Card schedule: 46 data items to the
account level and 19 items to the
portfolio level. Additionally, the Federal
Reserve proposed to revise the reporting
of 11 existing account level data items
from optional to mandatory. After
careful consideration of comments and
reporting burden, the Federal Reserve
will adopt a final schedule with 59 of
the proposed new data items: 40 data
items to the account level and 19 items
to the portfolio level. The majority of
comments received requested
clarification of item definitions and will
be addressed in the final instructions.
Some comments, however, suggested
significant modification to data items
and are addressed below.
Several commenters noted a lack of
clarity among the possible selections for
Month-End and Cycle-End Account
Status items, especially regarding
charged-off accounts and accounts in

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collection stage. Specifically,
commenters expressed confusion about
which option should be applied to
charged-off accounts and how the
Federal Reserve defines an account
being in the collections stage. The
Federal Reserve will revise the proposed
selection options to be more specific.
Several commenters requested
additional guidance regarding
generating the information requested in
the revised Customer ID item and the
proposed new Co-borrower ID,
Corporate ID and Trade Key items,
because they are to be populated ‘‘using
the algorithm provided by the Federal
Reserve Board or its agent.’’ After
consideration of the new definitions, the
Federal Reserve believes that such an
algorithm is unnecessary and will revert
to the existing definition of Customer ID
and remove Co-Borrower ID and Trade
Key from the final schedule. Questions
related to generating the Corporate ID
would be directed to the Federal
Reserve’s data aggregator.
Several commenters stated that they
do not store census tract information in
their internal data management systems.
Therefore, the Federal Reserve will
remove data items for Account Billing
Address—Census Tract, Account Billing
Address—Street Address, and Account
Billing Address—City.
Several commenters suggested adding
a third response of ’’Other’’ to the
proposed data item Updated Income
Source to account for sources that do
not qualify as ’’Household’’ or
’’Individual.’’ The Federal Reserve will
add a third response of ‘‘Other.’’
Several commenters requested
clarification regarding what to report if
one Annual Percentage Rate (APR) is to
be reported but several APRs existed in
the reporting period. The Federal
Reserve will clarify the instructions to
state that firms should report a weighted
average of APRs throughout the
reporting period.
C. FR Y–14M First Lien Closed-End 1–
4 Family Residential Loan Schedule
In the December 20th proposal, the
Federal Reserve proposed adding 40
new data items to the loan-level table of
the First Lien schedule. Additionally,
the Federal Reserve proposed removing
three existing data items from the same
table. After consideration of comments
and reporting burden, the Federal
Reserve will revise the final schedule
adding 36 of the proposed new data
items to the loan-level table and
removing 2 existing data items. With
respect to the final list of proposed
items, the Federal Reserve did not
receive substantive comments on most
of the proposed items. Most of the

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comments received required only
clarification to definitions, which will
be provided in the final instructions.
The Federal Reserve proposed to
eliminate the Home Affordable
Refinance Flag item, because it had
appeared, based on a preliminary
analysis, that the information reflected
in this data item could be derived from
other data items. However, after further
consideration and analysis, the Federal
Reserve has determined that the
information reflected in the Home
Affordable Refinance Flag data item
cannot be derived from other data items.
In addition, several commenters
suggested that the Federal Reserve work
with other agencies to better align the
FR Y–14M schedules with data
collections by other agencies in order to
reduce the burden on reporters.
Retaining the Home Affordable
Refinance Flag would facilitate greater
consistency with other agencies’ data
collections and, accordingly, retaining
this item may reduce the burden on FR
Y–14M reporters. Therefore the Federal
Reserve will retain the Home Affordable
Refinance Flag data item in the final
schedule.
One commenter suggested that the
data item Product Type should include
an option for 10 year fixed-rate loans.
The Federal Reserve has observed many
instances of 10 year fixed-rate loans and
will add an option for such loans.
Similarly to the Credit Card schedule,
several commenters requested
additional guidance regarding the
Customer ID and the Co-borrower ID
items. After consideration of comments
and additional burden to reporters of
these proposed items, the Federal
Reserve will remove the items CoBorrower ID and Customer ID. In an
effort to additionally minimize reporting
burden, the proposed items Prepayment
Penalty Waived This Month and Reason
for Default will also be eliminated.
D. FR Y–14M Domestic Home Equity
Loan and Home Equity Line Schedule
The Federal Reserve proposed adding
27 new data items to the Loan/Line
Level Table and 1 new data item to the
Portfolio Level Table. Additionally, the
Federal Reserve proposed to delete 1
existing data item from the Loan/Line
Level Table. After consideration of
comments and reporting burden, the
final schedule will add 25 and eliminate
1 of the proposed new data items and
eliminate 1 existing data item from the
Loan/Line Level Table. Most of the
comments received required only
clarification to definitions, which will
be provided in the final instructions.
Similarly to the First Lien schedule,
several commenters requested

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additional guidance regarding the
Customer ID and the Co-borrower ID
items. After consideration of comments
and additional burden to reporters of
these proposed items, the Federal
Reserve will remove the items CoBorrower ID and Customer ID. In an
effort to additionally minimize reporting
burden, the proposed items Escrow
Amount at Origination and Remodified
Flag will also be eliminated as well as
the existing item Escrow Amount
Current.
Board of Governors of the Federal Reserve
System.
March 25, 2013.
Robert deV. Frierson,
Secretary of the Board.
[FR Doc. 2013–07272 Filed 3–28–13; 8:45 am]
BILLING CODE 6210–01–P

FEDERAL RESERVE SYSTEM
Change in Bank Control Notices;
Acquisitions of Shares of a Bank or
Bank Holding Company
The notificants listed below have
applied under the Change in Bank
Control Act (12 U.S.C. 1817(j)) and
§ 225.41 of the Board’s Regulation Y (12
CFR 225.41) to acquire shares of a bank
or bank holding company. The factors
that are considered in acting on the
notices are set forth in paragraph 7 of
the Act (12 U.S.C. 1817(j)(7)).
The notices are available for
immediate inspection at the Federal
Reserve Bank indicated. The notices
also will be available for inspection at
the offices of the Board of Governors.
Interested persons may express their
views in writing to the Reserve Bank
indicated for that notice or to the offices
of the Board of Governors. Comments
must be received not later than April 15,
2013.
A. Federal Reserve Bank of Richmond
(Adam M. Drimer, Assistant Vice
President) 701 East Byrd Street,
Richmond, Virginia 23261–4528:
1. Olivia Britton Holding, Raleigh,
North Carolina; to retain voting shares
of First Citizens BancShares, Inc., and
thereby indirectly retain voting shares of
First-Citizens Bank & Trust Company,
both in Raleigh, North Carolina.
2. Frank Brown Holding, Jr., Raleigh,
North Carolina; to retain voting shares
of First Citizens BancShares, Inc., and
thereby indirectly retain voting shares of
First-Citizens Bank & Trust Company,
both in Raleigh, North Carolina.
B. Federal Reserve Bank of Dallas (E.
Ann Worthy, Vice President) 2200
North Pearl Street, Dallas, Texas 75201–
2272:

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