Change in Bank Control Notices; Acquisition of Shares of Bank or Bank Holding Companies, 11203-11204 [E6-3115]

Download as PDF Federal Register / Vol. 71, No. 43 / Monday, March 6, 2006 / Notices Parent organizations (SMBs, Edge and agreement corporations, or BHCs) file the FR 2314 on a quarterly or annual basis according to filing criteria or file the FR 2314S annually. The FR 2314 data are used to identify current and potential problems at the foreign subsidiaries of U.S. parent companies, to monitor the activities of U.S. banking organizations in specific countries, and to develop a better understanding of activities within the industry, in general, and of individual institutions, in particular. Current Actions: The Federal Reserve will raise the asset–size threshold for filing the quarterly FR 2314 to make it consistent with the proposed filing threshold for reporting the Consolidated Financial Statements for Bank Holding Companies (FR Y–9C; OMB No. 7100– 0128) and to further reduce reporting burden. The Federal Reserve will also (1) add one new equity capital component on the balance sheet for reporting partnership interests and (2) reclassify reporting of certain annuity sales revenue on the income statement. The changes in the reporting thresholds will have no immediate effect on the FR 2314 panel because there are currently no quarterly filers owned by parent organizations with assets less than $500 million. hsrobinson on PROD1PC70 with NOTICES FR 2314 Revisions Effective as of the March 31, 2006 Report Date Revisions to Filing Criteria The Federal Reserve will revise the reporting criteria for the quarterly FR 2314 to be consistent with the proposed threshold for the FR Y–9C and reduce reporting burden. Specifically, a BHC must file the FR 2314 quarterly for its subsidiary if the subsidiary is owned or controlled by a parent U.S. BHC that files the FR Y–9C or a state member bank or an Edge or agreement cooperation that has total consolidated assets equal to or greater than $500 million and the subsidiary has (a) total assets of $1 billion or more, or (b) total off–balance–sheet activities of at least $5 billion, or (c) equity capital of at least 5 percent of the top–tier organization’s consolidated equity capital, or (d) operating revenue of at least 5 percent of the top–tier organization’s consolidated operating revenue. The criteria for filing the FR 2314 will be revised to maintain the consistency in the reporting criteria for nonbank subsidiary reports. Revising the quarterly reporting threshold for the FR 2314 filers will have no immediate effect on the panel because currently there are no quarterly filers owned by parent organizations with assets less VerDate Aug<31>2005 14:30 Mar 03, 2006 Jkt 208001 than $500 million. However, the Federal Reserve believes that there may be a small number of additional FR 2314 reports filed for subsidiaries owned by a BHC that has assets under $500 million and that files the FR Y–9C because they meet certain conditions. As currently required, a parent organization must file the FR 2314 for any nonbank subsidiary that satisfies the quarterly filing criteria for any quarter during the calendar year and must continue to report quarterly for the remainder of the calendar year even if the nonbank subsidiary no longer satisfies the requirements for quarterly reporting. The Federal Reserve will modify this reporting requirement to be more consistent with the FR Y–9C. The Federal Reserve will revise the reporting instructions for quarterly filers under Who Must Report to indicate that if a nonbank subsidiary meets the criteria for quarterly filing as of June 30 of the preceding year, its parent organization should begin reporting the FR 2314 quarterly for the nonbank subsidiary beginning in March of the current year and continue to report for the entire calendar year. In addition, if a nonbank subsidiary meets the quarterly filing criteria due to a business combination, then the parent organization would report the FR 2314 quarterly beginning with the first quarterly report date following the effective date of the business combination. If a nonbank subsidiary subsequently does not meet the quarterly filing criteria for four consecutive quarters, then the parent organization would revert to annual filing. Schedule BS–Balance Sheet The Federal Reserve will add a new data item, 18.e, General and limited partnership shares and interests, renumber current data item, 18.e, Other equity capital components, as data item 18.f., and renumber current data item 18.f, Total equity capital, as data item 18.g. Currently, the instructions for data item 18, Equity capital, directs subsidiaries that are not corporate in form (that is, those that do not have capital structures consisting of capital stock and the other components of equity capital currently listed under data item 18) to submit their entire net worth in data item 18.f, Total equity. The reporting form and the instructions for data item 18.f, Total equity, state that data item 18.f must equal the sum of the components of data item 18. However, equity capital of those entities not in corporate form cannot appropriately be submitted in any of the components of data item 18. The new data item and clarifications to the instructions for data PO 00000 Frm 00029 Fmt 4703 Sfmt 4703 11203 item 18 will remove this inconsistency and improve the accuracy of the information submitted. In addition, the Federal Reserve will clarify that Schedule IS–A, Changes in Equity Capital, data item 6, Other adjustments to equity capital, should include contributions and distributions to and from partners or limited liability company (LLC) shareholders when the company is a partnership or a LLC. Schedule IS–A, data item 6 is a component of Schedule IS–A, data item 7, Total equity at end of current period. Schedule IS–A, data item 7 must equal Schedule BS, data item 18.f, Total equity. FR 2314 Revisions Effective as of the March 31, 2007 Report Date Schedule IS–Income Statement The Federal Reserve will change the category of noninterest income in which nonbank subsidiaries submit income from certain sales of annuities from data item 5.a.(8), Insurance commissions and fees, to data item 5.a.(4), Investment banking, advisory, brokerage, and underwriting fees and commissions, to be consistent with the revision to the FR Y–9C. Currently, nonbank subsidiaries submit income from the sales of annuities and related commissions and fees in data item 5.a.(8). Since annuities are deemed to be financial investment products rather than insurance, the Federal Reserve will revise the instructions for data item 5.a.(8) and data item 5.a.(4) by moving the reference to annuities in the former data item to the latter data item. This change will be delayed until March 31, 2007. Board of Governors of the Federal Reserve System, March 1, 2006. Jennifer J. Johnson, Secretary of the Board. [FR Doc. E6–3122 Filed 3–3–06; 8:45 am] BILLING CODE 6210–01–S 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 E:\FR\FM\06MRN1.SGM 06MRN1 11204 Federal Register / Vol. 71, No. 43 / Monday, March 6, 2006 / 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 March 21, 2006. A. Federal Reserve Bank of Kansas City (Donna J. Ward, Assistant Vice President) 925 Grand Avenue, Kansas City, Missouri 64198-0001: 1. Harvey H. Delaney and Barbara A. Delaney, both of Burdett, Kansas; to retain voting shares of NSB Bancshares, Inc., La Crosse, Kansas, and thereby indirectly retain voting shares of The Nekoma State Bank, La Crosse, Kansas. Board of Governors of the Federal Reserve System, March 1, 2006. Robert deV. Frierson, Deputy Secretary of the Board. [FR Doc. E6–3115 Filed 3–3–06; 8:45 am] BILLING CODE 6210–01–S FEDERAL RESERVE SYSTEM hsrobinson on PROD1PC70 with NOTICES 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 application also will 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. Additional information on all bank holding companies may be obtained from the National Information Center Web site at http://www.ffiec.gov/nic/. Unless otherwise noted, comments regarding each of these applications VerDate Aug<31>2005 14:30 Mar 03, 2006 Jkt 208001 must be received at the Reserve Bank indicated or the offices of the Board of Governors not later than March 31, 2006. A. Federal Reserve Bank of St. Louis (Glenda Wilson, Community Affairs Officer) 411 Locust Street, St. Louis, Missouri 63166-2034: 1. DBT Financial Corporation, DeWitt, Arkansas; to merge with Planters & Merchants Bancshares, Inc., Gillett, Arkansas, and thereby indirectly acquire Planters & Merchants Bank, Gillett, Arkansas. 2. First Financial Banc Corporation, El Dorado, Arkansas; to acquire 100 percent of the voting shares of Cornerstone Bank, Senatobia, Mississippi. 3. German American Bancorp, Jasper, Indiana; to acquire 14.9 percent of the voting shares of Indiana Bank Corp., Terre Haute, Indiana, and thereby indirectly acquire voting shares of The First National Bank of Dana, Dana, Indiana. Board of Governors of the Federal Reserve System, March 1, 2006. Robert deV. Frierson, Deputy Secretary of the Board. [FR Doc. E6–3114 Filed 3–3–06; 8:45 am] BILLING CODE 6210–01–S DEPARTMENT OF HEALTH AND HUMAN SERVICES Office of the Secretary Departmental Appeals Board; Privacy Act of 1974; System of Records Departmental Appeals Board (DAB), Office of the Secretary, Department of Health and Human Services (HHS). ACTION: Notification of Altered Privacy Act System Notice. AGENCY: SUMMARY: On May 19, 1993, in accordance with the requirements of the Privacy Act, the Departmental Appeals Board (DAB) published a notice of a system of records entitled ‘‘Departmental Appeals Board Case and Appeal Records, HHS/OS/DAB No. 09– 90–0049.’’ 58 FR 29228, May 19, 1993. The DAB has reviewed its May 19, 1993 Privacy Act notice and now proposes to revise that notice. Revisions include the following: Adding routine uses; updating the DAB’s address; clarifying its policies and practices for storing, retrieving, accessing, retaining and disposing of records in the system; and making minor editorial or formatting PO 00000 Frm 00030 Fmt 4703 Sfmt 4703 changes. The revised notice, like the original, covers records maintained by the DAB’s Appellate Division, Civil Remedies Division, and Alternative Dispute Resolution Division. The DAB’s Medicare Appeals Council (MAC) will issue a separate Privacy Act notice describing the system of records used by the MAC and its supporting component, the Medicare Operations Division, to docket, track, manage, and decide appeals and other matters before the MAC. The DAB sent a report of the altered system to Congress and the Office of Management and Budget (OMB) on January 19, 2006. The altered system will be effective 40 days after the submittal of the report of new system to OMB or 30 days after publication of the notice, whichever is later, unless the DAB receives comments on the routine uses during that period. Submit comments on or before April 5, 2006. Comments may be viewed on or before April 5, 2006. ADDRESSES: Please mail written comments to: Departmental Appeals Board, MS 6127, 330 Independence Avenue, SW., Cohen Building, Room G– 644, Washington, DC 20201 (Attention: Maxine Winerman or Ken Veilleux). The DAB will not accept comments by facsimile (fax) transmission. Comments received will be available for public inspection, by appointment, from 9 a.m. to 5 p.m. at the DAB’s offices, which are located at 800 North Capitol Street, NW., 6th Floor, Washington, DC. To schedule an appointment, please call (202) 565– 0200. DATES: FOR FURTHER INFORMATION CONTACT: Maxine Winerman (DAB), 202–565– 0147, or Ken Veilleux (DAB), (202) 565– 0130. SUPPLEMENTARY INFORMATION: The system of records described in the DAB’s May 19, 1993 Privacy Act notice is used by DAB staff to docket, track, manage, and decide or mediate appeals and other matters involving individuals who are parties in those matters. This system includes information on all individuals who are parties in matters before the DAB, including their names and addresses and any other information about those individuals that is presented by a party or intervener to enable the DAB to decide, decline to decide, mediate, or conclude a matter. The amount of information recorded on each individual will be only that which is necessary to resolve the matter that is before the DAB. In addition, this system contains some information that is about entities, rather than individuals, and E:\FR\FM\06MRN1.SGM 06MRN1

Agencies

[Federal Register Volume 71, Number 43 (Monday, March 6, 2006)]
[Notices]
[Pages 11203-11204]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E6-3115]


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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

[[Page 11204]]

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 March 21, 2006.
    A. Federal Reserve Bank of Kansas City (Donna J. Ward, Assistant 
Vice President) 925 Grand Avenue, Kansas City, Missouri 64198-0001:
    1. Harvey H. Delaney and Barbara A. Delaney, both of Burdett, 
Kansas; to retain voting shares of NSB Bancshares, Inc., La Crosse, 
Kansas, and thereby indirectly retain voting shares of The Nekoma State 
Bank, La Crosse, Kansas.

    Board of Governors of the Federal Reserve System, March 1, 2006.
Robert deV. Frierson,
Deputy Secretary of the Board.
[FR Doc. E6-3115 Filed 3-3-06; 8:45 am]
BILLING CODE 6210-01-S