Board Action Cancelling Charter of the Farm Credit System Financial Assistance Corporation, 2880 [E7-903]

Download as PDF 2880 Federal Register / Vol. 72, No. 14 / Tuesday, January 23, 2007 / Notices List of Subjects Environmental protection, Asbestos, Hazardous substances, Occupational health and safety, Reporting and recordkeeping requirements, Schools. Authority: 42 U.S.C. 7401 et seq. Dated: January 8, 2007. A. Stanley Meiburg, Acting Regional Administrator, Region 4. [FR Doc. E7–922 Filed 1–22–07; 8:45 am] BILLING CODE 6560–50–P FARM CREDIT ADMINISTRATION Board Action Cancelling Charter of the Farm Credit System Financial Assistance Corporation Farm Credit Administration. Notice. AGENCY: ACTION: SUMMARY: The Farm Credit Administration (FCA or Agency), through the FCA Board, cancelled the charter of the Farm Credit System Financial Assistance Corporation (FAC or Corporation) at the January 11, 2007, Board meeting. The FCA chartered the FAC on January 11, 1988, to carry out a program to provide capital to Farm Credit System (System) institutions that were experiencing financial difficulties, and to assist in the repayment by System institutions to those that provided funds in connection with the program. The FAC discharged all of its responsibilities with respect to the repayment of FAC obligations during June 2005, and as a result, became eligible to terminate its corporate existence. EFFECTIVE DATE: December 31, 2006. Eric Howard, Senior Policy Analyst, Office of Regulatory Policy, Farm Credit Administration, McLean, Virginia 22102–5090, (703) 883–4481, TTY (703) 883–4056, or Rebecca Orlich, Senior Counsel, Office of General Counsel, Farm Credit Administration, McLean, Virginia 22102–5090, (703) 883–4020, TTY (703) 883–4020. SUPPLEMENTARY INFORMATION: On January 11, 2007, the FCA Board took action to cancel the charter and corporate existence of the FAC. The text of the Board action is set forth below: Whereas, on January 11, 1988, the Farm Credit Administration chartered the Farm Credit System Financial Assistance Corporation pursuant to section 6.20, title VI, subtitle B of the Farm Credit Act of 1971, as amended (Act), to carry out a program to provide capital to institutions of the Farm Credit System (System) that were experiencing mstockstill on PROD1PC70 with NOTICES FOR FURTHER INFORMATION CONTACT: VerDate Aug<31>2005 19:33 Jan 22, 2007 Jkt 211001 financial difficulties and to assist in the repayment by System institutions to those that provided funds in connection with the program; and Whereas, section 6.31 of the Act provides that the Farm Credit System Financial Assistance Corporation will terminate upon the complete discharge of its statutory obligations, but in no event later than 2 years following the maturity and full payment of its debt obligations; and Whereas, on June 10, 2005, the last remaining debt obligation issued by the Farm Credit System Financial Assistance Corporation matured and was repaid; and Whereas, on June 10, 2005, all interest advanced by the U.S. Treasury was repaid; and Whereas, the final audit of the Farm Credit System Financial Assistance Corporation as of September 30, 2005, was completed by PricewaterhouseCoopers, an independent auditor; and Whereas, on November 14, 2005, the Farm Credit Administration issued to the Farm Credit System Financial Assistance Corporation a final Report of Examination as of September 30, 2005; and Whereas, the Farm Credit Administration has determined that the Farm Credit System Financial Assistance Corporation has effectively completed its statutory mission, complied with applicable laws and regulations, operated in a safe and sound manner, and thus has fulfilled its statutory obligations and discharged its responsibilities under sections 6.9 and 6.26 of the Act; Now, therefore, it is hereby ordered that: The charter of the Farm Credit System Financial Assistance Corporation is hereby cancelled retroactively to December 31, 2006. Signed by Nancy C. Pellett, Chairman, Farm Credit Administration Board on January 11, 2007. Dated: January 18, 2007. Roland E. Smith, Secretary, Farm Credit Administration Board. [FR Doc. E7–903 Filed 1–22–07; 8:45 am] 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 PO 00000 Frm 00029 Fmt 4703 Sfmt 4703 § 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 7, 2007. A. Federal Reserve Bank of Kansas City (Donna J. Ward, Assistant Vice President) 925 Grand Avenue, Kansas City, Missouri 64198–0001: 1. John P. Stinner and Rita E. Stinner, both of Gering, Nebraska, to acquire voting shares of First Express of Nebraska, Inc., Gering, Nebraska, and thereby indirectly acquire voting shares of Valley Bank and Trust Company, Scottsbluff, Nebraska. Board of Governors of the Federal Reserve System, January 17, 2007. Robert deV. Frierson, Deputy Secretary of the Board. [FR Doc. E7–846 Filed 1–22–07; 8:45 am] BILLING CODE 6210–01–S 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 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 E:\FR\FM\23JAN1.SGM 23JAN1

Agencies

[Federal Register Volume 72, Number 14 (Tuesday, January 23, 2007)]
[Notices]
[Page 2880]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-903]


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FARM CREDIT ADMINISTRATION


Board Action Cancelling Charter of the Farm Credit System 
Financial Assistance Corporation

AGENCY: Farm Credit Administration.

ACTION: Notice.

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SUMMARY: The Farm Credit Administration (FCA or Agency), through the 
FCA Board, cancelled the charter of the Farm Credit System Financial 
Assistance Corporation (FAC or Corporation) at the January 11, 2007, 
Board meeting. The FCA chartered the FAC on January 11, 1988, to carry 
out a program to provide capital to Farm Credit System (System) 
institutions that were experiencing financial difficulties, and to 
assist in the repayment by System institutions to those that provided 
funds in connection with the program. The FAC discharged all of its 
responsibilities with respect to the repayment of FAC obligations 
during June 2005, and as a result, became eligible to terminate its 
corporate existence.

EFFECTIVE DATE: December 31, 2006.

FOR FURTHER INFORMATION CONTACT: Eric Howard, Senior Policy Analyst, 
Office of Regulatory Policy, Farm Credit Administration, McLean, 
Virginia 22102-5090, (703) 883-4481, TTY (703) 883-4056, or Rebecca 
Orlich, Senior Counsel, Office of General Counsel, Farm Credit 
Administration, McLean, Virginia 22102-5090, (703) 883-4020, TTY (703) 
883-4020.

SUPPLEMENTARY INFORMATION: On January 11, 2007, the FCA Board took 
action to cancel the charter and corporate existence of the FAC. The 
text of the Board action is set forth below:
    Whereas, on January 11, 1988, the Farm Credit Administration 
chartered the Farm Credit System Financial Assistance Corporation 
pursuant to section 6.20, title VI, subtitle B of the Farm Credit Act 
of 1971, as amended (Act), to carry out a program to provide capital to 
institutions of the Farm Credit System (System) that were experiencing 
financial difficulties and to assist in the repayment by System 
institutions to those that provided funds in connection with the 
program; and
    Whereas, section 6.31 of the Act provides that the Farm Credit 
System Financial Assistance Corporation will terminate upon the 
complete discharge of its statutory obligations, but in no event later 
than 2 years following the maturity and full payment of its debt 
obligations; and
    Whereas, on June 10, 2005, the last remaining debt obligation 
issued by the Farm Credit System Financial Assistance Corporation 
matured and was repaid; and
    Whereas, on June 10, 2005, all interest advanced by the U.S. 
Treasury was repaid; and
    Whereas, the final audit of the Farm Credit System Financial 
Assistance Corporation as of September 30, 2005, was completed by 
PricewaterhouseCoopers, an independent auditor; and
    Whereas, on November 14, 2005, the Farm Credit Administration 
issued to the Farm Credit System Financial Assistance Corporation a 
final Report of Examination as of September 30, 2005; and
    Whereas, the Farm Credit Administration has determined that the 
Farm Credit System Financial Assistance Corporation has effectively 
completed its statutory mission, complied with applicable laws and 
regulations, operated in a safe and sound manner, and thus has 
fulfilled its statutory obligations and discharged its responsibilities 
under sections 6.9 and 6.26 of the Act;
    Now, therefore, it is hereby ordered that:
    The charter of the Farm Credit System Financial Assistance 
Corporation is hereby cancelled retroactively to December 31, 2006.
    Signed by Nancy C. Pellett, Chairman, Farm Credit Administration 
Board on January 11, 2007.

    Dated: January 18, 2007.
Roland E. Smith,
Secretary, Farm Credit Administration Board.
 [FR Doc. E7-903 Filed 1-22-07; 8:45 am]
BILLING CODE 6705-01-P