Change in Bank Control Notices; Acquisition of Shares of Bank or Bank Holding Companies, 6277-6278 [E6-1635]
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Federal Register / Vol. 71, No. 25 / Tuesday, February 7, 2006 / Notices
Burden Hours—1,998.
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the student instrument focuses on
student outcomes related to reading
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will examine the impacts of these
literacy interventions on student
outcomes for two cohorts of students
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INGALLS IC DocketMgr@ed.gov 703–
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Dated: February 1, 2006.
Angela C. Arrington,
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erjones on PROD1PC68 with NOTICES
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BILLING CODE 4000–01–P
Institute of Education Sciences
Type of Review: Revision.
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15:23 Feb 06, 2006
Jkt 208001
[FR Doc. E6–1629 Filed 2–6–06; 8:45 am]
FARM CREDIT ADMINISTRATION
Farm Credit Administration Board;
Regular Meeting
AGENCY: Farm Credit Administration.
SUMMARY: Notice is hereby given,
pursuant to the Government in the
Sunshine Act (5 U.S.C. 552b(e)(3)), of
the regular meeting of the Farm Credit
Administration Board (Board).
DATE AND TIME: The regular meeting of
the Board will be held at the offices of
the Farm Credit Administration in
McLean, Virginia, on February 9, 2006,
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6277
from 9 a.m. until such time as the Board
concludes its business.
FOR FURTHER INFORMATION CONTACT:
Roland E. Smith, Secretary to the Farm
Credit Administration Board, (703) 883–
4009, TTY (703) 883–4056.
Farm Credit
Administration, 1501 Farm Credit Drive,
McLean, Virginia 22102–5090.
SUPPLEMENTARY INFORMATION: This
meeting of the Board will be open to the
public (limited space available). In order
to increase the accessibility to Board
meetings, persons requiring assistance
should make arrangements in advance.
The matters to be considered at the
meeting are:
ADDRESSES:
Open Session
A. Approval of Minutes
• January 6, 2006 (Open and Closed)
B. Reports
• Office of Management Services
Report
C. New Business—Regulations
• Disclosure and Reporting
Requirements—Proposed Rule
• Regulatory Burden—Proposed Rule
and Notice
Dated: February 2, 2006.
Roland E. Smith,
Secretary, Farm Credit Administration Board.
[FR Doc. 06–1123 Filed 2–2–06; 4:06 pm]
BILLING CODE 6705–01–P
FEDERAL RESERVE SYSTEM
Change in Bank Control Notices;
Acquisition of Shares of Bank or Bank
Holding Companies
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 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 office 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 February
22, 2006.
A. Federal Reserve Bank of San
Francisco (Tracy Basinger, Director,
Regional and Community Bank Group)
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6278
Federal Register / Vol. 71, No. 25 / Tuesday, February 7, 2006 / Notices
101 Market Street, San Francisco,
California 94105–1579:
1. David W. Lanza, Roy E. Lanza,
David W. Lanza Trust, Roy and Sondra
Lanza Family Trust, Colusa Motor Sales,
Inc., Hust Brothers, Inc., Marysville
Auto Parts, Inc. and Yuba Street
Ventures, LLC, all of Marysville,
California; to acquire additional voting
shares of Gold Country Financial
Services, Inc., and thereby indirectly
acquire shares of Gold Country Bank,
N.A., both of Marysville, California.
Board of Governors of the Federal Reserve
System, February 2, 2006.
Robert deV. Frierson,
Deputy Secretary of the Board.
[FR Doc. E6–1635 Filed 2–6–06; 8:45 am]
BILLING CODE 6210–01–S
FEDERAL RESERVE SYSTEM
[Docket No. OP—1249]
Rules Relating to Branches of Federal
Reserve Banks
Board of Governors of the
Federal Reserve System.
ACTION: Notice.
AGENCY:
erjones on PROD1PC68 with NOTICES
SUMMARY: The Board of Governors has
reviewed and revised its Rules Relating
to Branches of Federal Reserve Banks in
light of the existing scope of, and other
System-wide policies and procedures
concerning, Federal Reserve branch
operations. These revisions are designed
to enable more efficient governance of
Federal Reserve Bank branches and to
streamline Federal Reserve System
policies and procedures regarding
branches.
DATES: The amendments became
effective on January 30, 2006.
FOR FURTHER INFORMATION CONTACT:
Adrianne G. Threatt, Counsel (202/452–
3554), Legal Division, Board of
Governors of the Federal Reserve
System, 20th Street and Constitution
Avenue, NW., Washington, DC 20551.
Users of Telecommunication Device for
Deaf (TDD) only, call 202/263–4869.
SUPPLEMENTARY INFORMATION:
Background and Summary of
Amendments
The Federal Reserve Act (Act) states
that the Board may permit or require
any Federal Reserve Bank to establish
branches within its Federal Reserve
District, and that such branches, subject
to the rules and regulations of the
Board, must be operated under a board
of directors. See 12 U.S.C. 521. The Act
also provides that the Board at any time
may require any Federal Reserve Bank
to discontinue a branch, which then
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15:23 Feb 06, 2006
Jkt 208001
must be wound up in accordance with
the rules and regulations of the Board.
Id. The Board initially adopted its Rules
Relating to Branches of Federal Reserve
Banks (Branch Rule) in 1940, primarily
to provide a uniform framework
governing the appointment and
responsibilities of branch directors. The
Board most recently amended the
Branch Rule in 1978 to conform the
director-related provisions of the rule to
the Federal Reserve Reform Act of 1977.
See 43_ FR 29189 ( July 6, 1978).
The current revisions to the Branch
Rule are designed to bring the rule up
to date with the current role of Reserve
Bank branches within the Federal
Reserve System and to conform the
Branch Rule to the other Federal
Reserve policies and procedures that
affect branches. When the Board
initially adopted the Branch Rule, most
Reserve Bank branches generally
provided many of the banking services
offered by their head offices. Today,
however, improvements in technology
permit the Reserve Banks to offer a
comparable level of nationwide services
with a reduced physical presence and at
a lower cost. In addition, most decisions
that affect the operational scope of
Reserve Bank branches are handled
through a coordinated process, set forth
in the Federal Reserve Administrative
Manual (FRAM), that includes
involvement by the Board and its staff
as appropriate. Moreover, the Board
recently conducted a System-wide
review of the general policies that
govern all directors associated with
Federal Reserve Banks, including the
directors of Federal Reserve branches,
and adopted changes to its policies
concerning branch directors as part of
that review. Section 3 of the revised
Branch Rule reflects that responsibility
for management of the branches rests
largely with the Reserve Bank and not
with the board of directors of the
branch.
The Board has revised the Branch
Rule so that it reflects more accurately
the current organization of Reserve Bank
operations and better coordinates with
other relevant policies and procedures.
Highlights of the amendments include
the following:
1. Branch territory and functions. The
Board removed provisions of the Branch
Rule that required Board approval for
changes in the territory served by a
branch and for substantial changes in
the authority or functions of a branch.
Currently, the overall scope of a
branch’s operations does not necessarily
correlate to its generally assigned
territory, and proposed territory and
function changes are reviewed
thoroughly through the above-
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mentioned procedures set forth in the
FRAM. The Board has, however, added
a sentence stating the Act’s requirement
that a Reserve Bank may neither
establish nor discontinue a branch
without Board approval.
2. Branch directors. The Board has
eliminated the requirement for prior
Board approval for a Reserve Bank to
change the number of directors of a
branch from seven to five (or vice versa)
and has liberalized the qualification
requirements for branch directors that
are appointed by the Board. These
changes should enable Reserve Banks
more easily to obtain a board of
directors that can serve the needs of a
particular branch effectively. The Board
also has simplified the provisions
regarding director terms and made the
term limit for branch directors
consistent with that for Reserve Bank
directors. The Board has deleted the
quorum rule that previously applied to
meetings of branch directors and has
replaced a provision requiring branch
directors to meet at least ten times per
year with a rule requiring them to meet
as set forth in the Reserve Bank by-laws.
3. Officers, supplemental instructions,
and Reserve Bank/branch relations
generally. The Board has revised and
consolidated into a single section the
previously existing provisions
concerning the relationship between the
branch, the Reserve Bank, and the
Board. These include (1) a provision
stating that the branch directors carry
out their duties subject to the direction
and control of the Reserve Bank and
subject to the Board’s rules, (2) a
provision clarifying that the Reserve
Bank, rather than the branch board of
directors, is responsible for appointing
branch officers and that officers serve at
the pleasure of the Board, and (3) a
provision stating that the Reserve Bank
may adopt additional instructions or bylaws, consistent with the Branch Rule,
concerning branch operations. The
revisions to these provisions are
intended to describe more accurately
the current organization and operation
of branches and their role within the
Federal Reserve System.
Procedural Considerations
The Branch Rule is an uncodified rule
issued for use within the Federal
Reserve System pursuant to Section 3 of
the Act. See 5 U.S.C. 521. The Board’s
amendments relate solely to the internal
organization and procedures of the
Federal Reserve System, particularly the
operation of Federal Reserve Banks;
accordingly, the public notice, public
comment, and delayed effective date
provisions of the Administrative
Procedure Act do not apply. See 5
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]]>Agencies
[Federal Register Volume 71, Number 25 (Tuesday, February 7, 2006)]
[Notices]
[Pages 6277-6278]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E6-1635]
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FEDERAL RESERVE SYSTEM
Change in Bank Control Notices; Acquisition of Shares of Bank or
Bank Holding Companies
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 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 office 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 February 22, 2006.
A. Federal Reserve Bank of San Francisco (Tracy Basinger, Director,
Regional and Community Bank Group)
[[Page 6278]]
101 Market Street, San Francisco, California 94105-1579:
1. David W. Lanza, Roy E. Lanza, David W. Lanza Trust, Roy and
Sondra Lanza Family Trust, Colusa Motor Sales, Inc., Hust Brothers,
Inc., Marysville Auto Parts, Inc. and Yuba Street Ventures, LLC, all of
Marysville, California; to acquire additional voting shares of Gold
Country Financial Services, Inc., and thereby indirectly acquire shares
of Gold Country Bank, N.A., both of Marysville, California.
Board of Governors of the Federal Reserve System, February 2,
2006.
Robert deV. Frierson,
Deputy Secretary of the Board.
[FR Doc. E6-1635 Filed 2-6-06; 8:45 am]
BILLING CODE 6210-01-S
