Change in Bank Control Notices; Acquisitions of Shares of a Bank or Bank Holding Company, 58939 [2016-20531]
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Federal Register / Vol. 81, No. 166 / Friday, August 26, 2016 / Notices
mstockstill on DSK3G9T082PROD with NOTICES
Although the rating system reflects risk
management standards set out in
Regulation HH, the PSR policy, and
other applicable rules and guidance, the
ORSOM rating system itself does not
impose any compliance requirements.
5. Steps to minimize significant
economic impact on small entities
consistent with the stated objectives of
applicable statutes/discussion of
significant alternatives. The rating
system will not have an economic
impact on small entities. The Board is
not aware of any significant alternatives
to the rating system that accomplish the
objectives of reflecting the relevant risk
management standards in the
supervisory rating system.
at least as stringent as the applicable
Regulation HH standards applied to
DFMUs that provide similar services.
The risk management and transparency
expectations in part I of the PSR policy,
which applies to the Federal Reserve
priced services, are consistent with
those in Regulation HH. The ORSOM
rating system will be applied equally to
both DFMUs subject to Regulation HH
and to the other FMIs subject to the
Board’s authority, including the Federal
Reserve priced services, subject to the
PSR policy. Therefore, the Board does
not believe the rating system will have
any direct and material adverse effect on
the ability of other service providers to
compete with the Reserve Banks.
Competitive Impact Analysis
As a matter of policy, the Board
subjects all operational and legal
changes that could have a substantial
effect on payment system participants to
a competitive impact analysis, even if
competitive effects are not apparent on
the face of the proposal. Pursuant to this
policy, the Board assesses whether the
changes ‘‘would have a direct and
material adverse effect on the ability of
other service providers to compete
effectively with the Federal Reserve in
providing similar services’’ and whether
any such adverse effect ‘‘was due to
legal differences or due to a dominant
market position deriving from such legal
differences.’’ If, as a result of this
analysis, the Board identifies an adverse
effect on the ability to compete, the
Board then assesses whether the
associated benefits—such as
improvements to payment system
efficiency or integrity—can be achieved
while minimizing the adverse effect on
competition.
DFMUs are subject to the supervisory
framework established under Title VIII
of the Dodd-Frank Act. At least one
DFMU that is subject to Regulation HH
competes with a similar service
provided by the Reserve Banks. Under
the Federal Reserve Act, the Board has
general supervisory authority over the
Reserve Banks, including the Reserve
Banks’ provision of payment and
settlement services (Federal Reserve
priced services). This general
supervisory authority is much more
extensive in scope than the authority
provided under Title VIII over DFMUs.
In practice, Board oversight of the
Reserve Banks goes well beyond the
typical supervisory framework for
private-sector entities, including the
framework provided by Title VIII.
The Board is committed to applying
risk-management standards to the
Reserve Banks’ Fedwire Funds Service
and Fedwire Securities Service that are
Paperwork Reduction Act Analysis
In accordance with the Paperwork
Reduction Act of 1995 (44 U.S.C. 3506;
5 CFR part 1320, Appendix A.1), the
Board may not conduct or sponsor, and
a respondent is not required to respond
to, an information collection unless it
displays a valid Office of Management
and Budget (OMB) control number. The
Board has reviewed this rating system
and determined that it contains no
collections of information.
VerDate Sep<11>2014
21:17 Aug 25, 2016
Jkt 238001
By order of the Board of Governors of the
Federal Reserve System, August 23, 2016.
Robert deV. Frierson,
Secretary of the Board.
[FR Doc. 2016–20517 Filed 8–25–16; 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
September 12, 2016.
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
PO 00000
Frm 00038
Fmt 4703
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58939
electronically to
Comments.applications@stls.frb.org:
1. Gaylon M. Lawrence, Jr., Memphis,
Tennessee, to retain shares of Piggott
Bankstock, Inc., and thereby indirectly
retain control of Piggott State Bank, both
in Piggott, Arkansas.
Board of Governors of the Federal Reserve
System, August 23, 2016.
Michele T. Fennell,
Assistant Secretary of the Board.
[FR Doc. 2016–20531 Filed 8–25–16; 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
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 applications listed below, as well
as other related filings required by the
Board, are available for immediate
inspection at the Federal Reserve Bank
indicated. The applications will also be
available for inspection at the offices of
the Board of Governors. Interested
persons may express their views in
writing on the standards enumerated in
the BHC Act (12 U.S.C. 1842(c)). If the
proposal also involves the acquisition of
a nonbanking company, the review also
includes whether the acquisition of the
nonbanking company complies with the
standards in section 4 of the BHC Act
(12 U.S.C. 1843). Unless otherwise
noted, nonbanking activities will be
conducted throughout the United States.
Unless otherwise noted, comments
regarding each of these applications
must be received at the Reserve Bank
indicated or the offices of the Board of
Governors not later than September 22,
2016.
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. M&P Community Bancshares, Inc.,
401(k) Employee Stock Ownership Plan;
to acquire additional shares of M&P
Community Bancshares, Inc., for a total
of ownership of up to 38 percent, and
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[Federal Register Volume 81, Number 166 (Friday, August 26, 2016)]
[Notices]
[Page 58939]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-20531]
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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 Sec. 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 September 12, 2016.
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. Gaylon M. Lawrence, Jr., Memphis, Tennessee, to retain shares of
Piggott Bankstock, Inc., and thereby indirectly retain control of
Piggott State Bank, both in Piggott, Arkansas.
Board of Governors of the Federal Reserve System, August 23, 2016.
Michele T. Fennell,
Assistant Secretary of the Board.
[FR Doc. 2016-20531 Filed 8-25-16; 8:45 am]
BILLING CODE 6210-01-P
