Formations of, Acquisitions by, and Mergers of Bank Holding Companies, 14109-14110 [E7-5424]

Download as PDF cprice-sewell on PROD1PC66 with NOTICES Federal Register / Vol. 72, No. 57 / Monday, March 26, 2007 / Notices Current actions: On January 11, 2007, the Federal Reserve published a notice in the Federal Register (72 FR 1325) requesting public comment for 60 days on the revision, without extension, of the Financial Statements of Foreign Subsidiaries of U.S. Banking Organizations. The comment period expired on March 12, 2007. The Federal Reserve did not receive any comment letters. All reporting changes will be implemented effective with the March 31, 2007, report date. Recently, the volume of 1–4 family residential mortgage loan products whose terms allow for negative amortization and the number of institutions providing borrowers with such loans has increased significantly. Loans with this feature are structured in a manner that may result in an increase in the loan’s principal balance even when the borrower’s payments are technically current. When loans with negative amortization are not prudently underwritten and not properly monitored, they raise safety and soundness concerns. Currently the Federal Reserve has no readily available means of identifying the industry’s exposure to such loans. Therefore, the Federal Reserve proposed to collect four data items at the nonbank subsidiary level to monitor the extension of negatively amortizing residential mortgage loans in the industry and to parallel the data items being proposed for inclusion on the FR Y–9C. The Federal Reserve proposed to collect one memorandum item from all nonbank subsidiaries on Schedule BS– A, Loan and Leases Financing Receivables, for the total amount of closed–end loans with negative amortization features secured by 1–4 family residential properties in order to obtain an overall measure of this potentially higher risk lending activity. In addition, the Federal Reserve proposed to collect two memorandum items on Schedule BS–A and one memorandum item on Schedule IS, Income Statement, from nonbank subsidiaries with a significant volume of negatively amortizing 1–4 family residential mortgage loans. The threshold for significant volume would be based on the aggregate carrying amount of negatively amortizing loans in excess of 5 percent of the total loans and leases reported on Schedule BS–A. A nonbank with negatively amortizing loans would determine whether it met the size threshold for reporting the three additional memorandum items based on data reported from the previous year– end FR 2314. The Federal Reserve also proposed two additional Schedule BS–A VerDate Aug<31>2005 15:30 Mar 23, 2007 Jkt 211001 memorandum items to collect (1) the total maximum remaining amount of negative amortization contractually permitted on closed–end loans secured by 1–4 family residential properties and (2) the total amount of negative amortization on closed–end loans secured by 1–4 family residential properties that is included in the carrying amount of these loans. The first memorandum item would provide a measure of the maximum exposure that could be incurred for negative amortization loans in the current 1–4 family residential property loan portfolio. The second memorandum item would then identify what component of 1–4 family mortgage loans is comprised of negative amortization loans. The Schedule IS memorandum item is year–to–date non–cash income on closed–end loans with a negative amortization feature secured by 1–4 family residential properties. This memorandum item would identify the amount and extent of interest revenue accrued and uncollected to ascertain the degree this potentially higher risk lending activity supports the BHC’s overall net income. All nonbank subsidiaries with negatively amortizing 1–4 family residential loans in excess of the reporting threshold would report these data items for the entire calendar year following the end of any calendar year when the threshold was exceeded. The Federal Reserve proposed to add the section Notes to the Financial Statements to allow respondents the opportunity to provide, at their option, any material information included in specific data items on the financial statements that the parent U.S. banking organization wishes to explain. The addition of this section would enable the Federal Reserve to automate information that respondents may want to report as footnotes to various reported data items and provide for release of this information to the public. This section is currently included on the FR Y–11. Board of Governors of the Federal Reserve System, March 21, 2007. Jennifer J. Johnson, Secretary of the Board. [FR Doc. E7–5503 Filed 3–23–07; 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 PO 00000 Frm 00038 Fmt 4703 Sfmt 4703 14109 § 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 April 10, 2007. A. Federal Reserve Bank of Kansas City (Donna J. Ward, Assistant Vice President) 925 Grand Avenue, Kansas City, Missouri 64198-0001: 1. William Scott Martin Trust and William S. Martin, Miami Beach, Florida, as trustee; to acquire control of Green Country Bancorporation, Inc., and thereby indirectly acquire control of The First State Bank, both in Ketchum, Oklahoma. Board of Governors of the Federal Reserve System, March 21, 2007. Robert deV. Frierson, Deputy Secretary of the Board. [FR Doc. E7–5437 Filed 3–23–07; 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\26MRN1.SGM 26MRN1 14110 Federal Register / Vol. 72, No. 57 / Monday, March 26, 2007 / Notices 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 website at http://www.ffiec.gov/nic/. 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 April 16, 2007. A. Federal Reserve Bank of New York (Anne McEwen, Financial Specialist) 33 Liberty Street, New York, New York 10045-0001: 1. Boymelgreen Financial Holdings Inc., New York, New York; to become a bank holding company by acquiring 100 percent of the voting shares of LibertyPointe Bank, both of New York, New York. B. Federal Reserve Bank of Chicago (Patrick M. Wilder, Assistant Vice President) 230 South LaSalle Street, Chicago, Illinois 60690-1414: 1. Marshall & Ilsley Corporation, Milwaukee, Wisconsin; to acquire 100 percent of the voting shares of Excel Bank Corporation, Minneapolis, Minnesota, and thereby indirectly acquire voting shares of Excel Bank Minnesota, Minneapolis, Minnesota. Board of Governors of the Federal Reserve System, March 19, 2007. Robert deV. Frierson, Deputy Secretary of the Board. [FR Doc. E7–5424 Filed 3–23–07; 8:45 am] BILLING CODE 6210–01–S FEDERAL RESERVE SYSTEM cprice-sewell on PROD1PC66 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 VerDate Aug<31>2005 16:19 Mar 23, 2007 Jkt 211001 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 website at http://www.ffiec.gov/nic/. 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 April 20, 2007. A. Federal Reserve Bank of Dallas (W. Arthur Tribble, Vice President) 2200 North Pearl Street, Dallas, Texas 752012272: 1. SWNB Bancorp, Inc., Houston, Texas; to acquire 100 percent of the voting shares of Nevada National Bank, Las Vegas, Nevada, a de novo bank. Board of Governors of the Federal Reserve System, March 21, 2007. Robert deV. Frierson, Deputy Secretary of the Board. [FR Doc. E7–5438 Filed 3–23–07; 8:45 am] BILLING CODE 6210–01–S FEDERAL RESERVE SYSTEM Notice of Proposals to Engage in Permissible Nonbanking Activities or to Acquire Companies that are Engaged in Permissible Nonbanking Activities The companies listed in this notice have given notice under section 4 of the Bank Holding Company Act (12 U.S.C. 1843) (BHC Act) and Regulation Y (12 CFR Part 225) to engage de novo, or to acquire or control voting securities or assets of a company, including the companies listed below, that engages either directly or through a subsidiary or other company, in a nonbanking activity that is listed in § 225.28 of Regulation Y (12 CFR 225.28) or that the Board has determined by Order to be closely related to banking and permissible for bank holding companies. Unless otherwise noted, these activities will be conducted throughout the United States. Each notice is available for inspection at the Federal Reserve Bank indicated. The notice also will be available for inspection at the offices of the Board of Governors. Interested persons may express their views in writing on the question whether the proposal complies with the standards of section 4 of the BHC Act. Additional information on all PO 00000 Frm 00039 Fmt 4703 Sfmt 4703 bank holding companies may be obtained from the National Information Center website at http://www.ffiec.gov/ nic/. Unless otherwise noted, comments regarding the applications must be received at the Reserve Bank indicated or the offices of the Board of Governors not later than April 16, 2007. A. Federal Reserve Bank of Chicago (Patrick M. Wilder, Assistant Vice President) 230 South LaSalle Street, Chicago, Illinois 60690-1414: Capitol Bancorp, Ltd., Lansing, Michigan; to convert Ohio Commerce Bank, Beachwood, Ohio, and Bank of Maumee, Maumee, Ohio, into savings institutions, and thereby engage in operating savings and loan associations, pursuant to section 225.28(b)(4)(ii) of Regulation Y. Board of Governors of the Federal Reserve System, March 19, 2007. Robert deV. Frierson, Deputy Secretary of the Board. [FR Doc. E7–5425 Filed 3–23–07; 8:45 am] BILLING CODE 6210–01–S GENERAL SERVICES ADMINISTRATION Federal Travel Regulation (FTR) Maximum Per Diem Rates for the States of California, Georgia, Idaho, Kentucky, Louisiana, Maryland, Mississippi, Missouri, Montana, Ohio, South Carolina, Utah and Wyoming Office of Governmentwide Policy, General Services Administration (GSA). ACTION: Notice of Per Diem Bulletin 07– 03, revised continental United States (CONUS) per diem rates. AGENCY: SUMMARY: The General Services Administration (GSA) has reviewed the lodging rates for certain locations in the States of California, Georgia, Idaho, Kentucky, Louisiana, Maryland, Mississippi, Missouri, Montana, Ohio, South Carolina, Utah and Wyoming, using more current lodging industry data, as well as data on where Federal travelers actually stay when visiting these locations. Also, GSA has reviewed the meals and incidental expenses (M&IE) rate for certain locations in the States of Georgia, Idaho, Louisiana, Missouri, Mississippi, Utah and Wyoming. The per diem rates prescribed in Bulletin 07–03 may be found at http://www.gsa.gov/perdiem. DATES: This notice is effective March 30, 2007 and applies to travel performed on or after March 30, 2007. FOR FURTHER INFORMATION CONTACT: For clarification of content, contact Mr. Cy E:\FR\FM\26MRN1.SGM 26MRN1

Agencies

[Federal Register Volume 72, Number 57 (Monday, March 26, 2007)]
[Notices]
[Pages 14109-14110]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-5424]


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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

[[Page 14110]]

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 website at http://
www.ffiec.gov/nic/.
    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 April 16, 2007.
    A. Federal Reserve Bank of New York (Anne McEwen, Financial 
Specialist) 33 Liberty Street, New York, New York 10045-0001:
    1. Boymelgreen Financial Holdings Inc., New York, New York; to 
become a bank holding company by acquiring 100 percent of the voting 
shares of LibertyPointe Bank, both of New York, New York.
    B. Federal Reserve Bank of Chicago (Patrick M. Wilder, Assistant 
Vice President) 230 South LaSalle Street, Chicago, Illinois 60690-1414:
    1. Marshall & Ilsley Corporation, Milwaukee, Wisconsin; to acquire 
100 percent of the voting shares of Excel Bank Corporation, 
Minneapolis, Minnesota, and thereby indirectly acquire voting shares of 
Excel Bank Minnesota, Minneapolis, Minnesota.

    Board of Governors of the Federal Reserve System, March 19, 
2007.
Robert deV. Frierson,
Deputy Secretary of the Board.
[FR Doc. E7-5424 Filed 3-23-07; 8:45 am]
BILLING CODE 6210-01-S