Notice of Agency Meeting, 32931 [E9-16171]

Download as PDF Federal Register / Vol. 74, No. 130 / Thursday, July 9, 2009 / Notices be isolated from the rest of the collection system. The facility also states that by doing this, wells EW2, EW3, EW4R, EW8 and EW9R will have no vacuum applied and will remain off during the duration of the construction, expected to last until July 15, 2006. A: Yes. EPA approves County’s request for an alternative timeline and alternative operation under NSPS subpart WWW, for wells EW2, EW3, EW4R, EW8, and EW9R. Dated: June 8, 2009. Lisa Lund, Director, Office of Compliance. [FR Doc. E9–16274 Filed 7–8–09; 8:45 am] RIN 3064–AD47 Proposed Statement of Policy on Qualifications for Failed Bank Acquisitions AGENCY: Federal Deposit Insurance Corporation (FDIC). ACTION: Proposed statement of policy with request for comment. Dated: July 6, 2009. Federal Deposit Insurance Corporation. Robert E. Feldman, Executive Secretary. [FR Doc. E9–16171 Filed 7–8–09; 8:45 am] SUMMARY: The FDIC is proposing to issue a Statement of Policy on Qualifications for Failed Bank Acquisitions (Proposed Policy Statement) to provide guidance to private capital investors interested in acquiring or investing in failed insured depository institutions regarding the terms and conditions for such investments or acquisitions. This Proposed Policy Statement is being published with a request for comment in order to obtain the public’s views on the provisions of the policy statement before it becomes effective. DATES: Comments must be received by the FDIC no later than August 10, 2009. ADDRESSES: You may submit comments on the Proposed Policy Statement by any of the following methods: • Agency Web Site: https:// www.FDIC.gov/regulations/laws/ federal/notices.html. Follow instructions for submitting comments on the agency Web site. • E-mail: Comments@FDIC.gov. Include RIN # 3064–AD47 on the subject line of the message. • Mail: Robert E. Feldman, Executive Secretary, Attention: Comments, Federal Deposit Insurance Corporation, 550 17th Street, NW., Washington, DC 20429. • Hand Delivery: Comments may be hand delivered to the guard station at the rear of the 550 17th Street Building (located on F Street) on business days between 7 a.m. and 5 p.m. Instructions: All comments received will be posted generally without change to https://www.fdic.gov/regulations/laws/ federal/propose.html, including any personal information provided. FOR FURTHER INFORMATION CONTACT: Catherine Topping, Counsel, Legal Division, (202) 898–3975 or ctopping@fdic.gov, Charles A. Fulton, Counsel, Legal Division, (703) 562–2424 or chfulton@fdic.gov, or Mindy West, Chief, Policy and Program Development, Division of Supervision and Consumer Protection, (202) 898–7221 or miwest@fdic.gov. BILLING CODE P SUPPLEMENTARY INFORMATION BILLING CODE 6560–50–P FEDERAL DEPOSIT INSURANCE CORPORATION Notice of Agency Meeting Pursuant to the provisions of the ‘‘Government in the Sunshine Act’’ (5 U.S.C. 552b), notice is hereby given that at 11:55 a.m. on Thursday, July 2, 2009, the Board of Directors of the Federal Deposit Insurance Corporation met in closed session to consider a matter related to the Corporation’s corporate, supervisory, and resolution activities. In calling the meeting, the Board determined, on motion of Vice Chairman Martin J. Gruenberg, seconded by Director John E. Bowman (Acting Director, Office of Thrift Supervision), concurred in by Director John C. Dugan (Comptroller of the Currency), Director Thomas J. Curry (Appointive), and Chairman Sheila C. Bair, that Corporation business required its consideration of the matter which was to be the subject of this meeting on less than seven days’ notice to the public; that no earlier notice of the meeting was practicable; that the public interest did not require consideration of the matter in a meeting open to public observation; and that the matter could be considered in a closed meeting by authority of subsection (c)(9)(B) of the ‘‘Government in the Sunshine Act’’ (5 U.S.C. 552b(c)(9)(B)). The meeting was held in the Board Room of the FDIC Building located at 550—17th Street, NW., Washington, DC. rmajette on DSK29S0YB1 with NOTICES FEDERAL DEPOSIT INSURANCE CORPORATION VerDate Nov<24>2008 15:49 Jul 08, 2009 Jkt 217001 PO 00000 Frm 00056 Fmt 4703 Sfmt 4703 32931 I. Background Recently, private capital investors have indicated interest in purchasing insured depository institutions in receivership.1 The FDIC is particularly concerned that owners of banks and thrifts, whether they are individuals, partnerships, limited liability companies, or corporations, have the experience, competence, and willingness to run the bank in a prudent manner, and accept the responsibility to support their banks when they face difficulties and protect them from insider transactions. Especially in light of the increased number of bank and thrift failures, and the consequent increase in interest by potential acquirers, the FDIC has evaluated the policies that apply in deciding whether a prospective acquisition is appropriate. The FDIC has reviewed various elements of private capital investment structures and considers that some of these investment structures raise potential safety and soundness considerations and risks to the Deposit Insurance Fund (DIF) as well as important issues with respect to their compliance with the requirements applied by the FDIC in its decision on the granting of deposit insurance. The concerns center on the need for fully adequate capital, a source of financial and managerial strength for the depository institution, and the potential adverse effects of extensions of credit to affiliates. These structuring issues are present with respect to any new proposed acquisition of a failed insured depository institution. The FDIC is seeking public input on this Proposed Policy Statement. This guidance describes the terms and conditions that private capital investors would be expected to satisfy to obtain eligibility for a proposed acquisition structure. These measures would cover capital support and cross guarantees; transactions with affiliates; secrecy jurisdiction investors; continuity of ownership requirements, and disclosure. II. Request for Public Comment The FDIC invites comments on all aspects of the Proposed Policy Statement, including the following questions: 1. The measures contained in the Proposed Policy Statement will not be applied to individuals, partnerships, limited liability companies, or corporations, that accept the 1 The purchase or acquisition of a failed depository institution in receivership refers to the purchase of the deposit liabilities, or both such liabilities and assets. E:\FR\FM\09JYN1.SGM 09JYN1

Agencies

[Federal Register Volume 74, Number 130 (Thursday, July 9, 2009)]
[Notices]
[Page 32931]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E9-16171]


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FEDERAL DEPOSIT INSURANCE CORPORATION


Notice of Agency Meeting

    Pursuant to the provisions of the ``Government in the Sunshine 
Act'' (5 U.S.C. 552b), notice is hereby given that at 11:55 a.m. on 
Thursday, July 2, 2009, the Board of Directors of the Federal Deposit 
Insurance Corporation met in closed session to consider a matter 
related to the Corporation's corporate, supervisory, and resolution 
activities.
    In calling the meeting, the Board determined, on motion of Vice 
Chairman Martin J. Gruenberg, seconded by Director John E. Bowman 
(Acting Director, Office of Thrift Supervision), concurred in by 
Director John C. Dugan (Comptroller of the Currency), Director Thomas 
J. Curry (Appointive), and Chairman Sheila C. Bair, that Corporation 
business required its consideration of the matter which was to be the 
subject of this meeting on less than seven days' notice to the public; 
that no earlier notice of the meeting was practicable; that the public 
interest did not require consideration of the matter in a meeting open 
to public observation; and that the matter could be considered in a 
closed meeting by authority of subsection (c)(9)(B) of the ``Government 
in the Sunshine Act'' (5 U.S.C. 552b(c)(9)(B)).
    The meeting was held in the Board Room of the FDIC Building located 
at 550--17th Street, NW., Washington, DC.

    Dated: July 6, 2009.

Federal Deposit Insurance Corporation.
Robert E. Feldman,
Executive Secretary.
[FR Doc. E9-16171 Filed 7-8-09; 8:45 am]
BILLING CODE P
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