Notice of Proposals to Engage in Permissible Nonbanking Activities or to Acquire Companies that are Engaged in Permissible Nonbanking Activities, 32934 [E9-16255]

Download as PDF rmajette on DSK29S0YB1 with NOTICES 32934 Federal Register / Vol. 74, No. 130 / Thursday, July 9, 2009 / Notices maintained by foreign government entities; consent to jurisdiction and designation of an agent for service of process; and consent to be bound by the statutes and regulations administered by the appropriate U.S. Federal banking agencies. Continuity of Ownership: Investors subject to this policy statement would be prohibited from selling or otherwise transferring securities of the Investors’ holding company or depository institution for a 3 year period of time following the acquisition absent the FDIC’s prior approval. This time period is consistent with the current de novo business plan change approval and other requirements in FDIC Deposit Insurance Orders. The FDIC does not expect to approve any sale to a private capital investor during such 3 year period unless the buyer agrees to be subject to the same conditions that are applicable under this policy statement to the selling Investor. Special Owner Bid Limitation: Investors that directly or indirectly hold 10 percent or more of the equity of a bank or thrift in receivership would not be considered eligible to be a bidder to become an investor in the deposit liabilities, or both such liabilities and assets, of that failed depository institution. Disclosure: Investors subject to this policy statement would be expected to submit to the FDIC information about the Investors and all entities in the ownership chain including such information as the size of the capital fund or funds, its diversification, the return profile, the marketing documents, the management team and the business model. In addition, Investors and all entities in the ownership chain will be required to provide to the FDIC such other information as is determined to be necessary to assure compliance with this policy statement. Limitations: Nothing in this policy statement is intended to replace or substitute for any determination required by a relevant depository institution’s primary Federal regulator or a Federal bank or thrift holding company regulator under any applicable regulation or statute, including, in particular, bank or thrift holding company statutes, or with respect to determinations made and requirements that may be imposed in connection with the general character, fitness and expertise of the management being proposed by the Investors, the need for a thorough and reasonable business plan that addresses business lines and strategic initiatives and includes appropriate contingency planning elements, satisfactory corporate VerDate Nov<24>2008 15:49 Jul 08, 2009 Jkt 217001 governance structure and representation, and any other supervisory matter. By order of the Board of Directors. Dated at Washington, DC, this 2nd day of July, 2009. Federal Deposit Insurance Corporation. Robert E. Feldman, Executive Secretary. [FR Doc. E9–16077 Filed 7–8–09; 8:45 am] Board of Governors of the Federal Reserve System, July 06, 2009. Robert deV. Frierson, Deputy Secretary of the Board. [FR Doc. E9–16255 Filed 7–8–09; 8:45 am] BILLING CODE 6210–01–S FEDERAL MARITIME COMMISSION Sunshine Act; Notice of Meeting BILLING CODE 6714–01–P July 14, 2009—10 a.m. 800 North Capitol Street, NW., First Floor Hearing Room, Washington, DC. STATUS: A portion of the meeting will be in Open Session and the remainder of the meeting will be in Closed Session. MATTERS TO BE CONSIDERED: TIME AND DATE: PLACE: 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 bank holding companies may be obtained from the National Information Center website at 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 July 24, 2009. A. Federal Reserve Bank of Minneapolis (Jacqueline G. King, Community Affairs Officer) 90 Hennepin Avenue, Minneapolis, Minnesota 55480–0291: 1. Norlo Inc., Prior Lake, Minnesota, to engage, de novo, in lending activities, pursuant to section 225.28 (b)(1) of Regulation Y. PO 00000 Frm 00059 Fmt 4703 Sfmt 4703 Open Session 1. FMC Agreement No. 201202: Oakland MTO Agreement. 2. FMC Agreement No. 011275–027: Australia and New Zealand/United States Discussion Agreement. 3. FMC Agreement No. 011275–028: Australia and New Zealand/United States Discussion Agreement. Closed Session 1. Section 15 Order on Competition, Rates and Service in the U.S.-Australia/ New Zealand and Northbound and Southbound Trade. 2. FMC Agreement No. 011741–013: U.S. Pacific Coast-Oceania Agreement. 3. Order Initiating Proceeding— Admission to Practice Before the Commission. 4. Internal Administrative Practices and Personnel Matters. CONTACT PERSON FOR MORE INFORMATION: Karen V. Gregory, Secretary. (202) 523– 5725. Karen V. Gregory, Secretary. [FR Doc. E9–16414 Filed 7–7–09; 4:15 pm] BILLING CODE P FEDERAL MARITIME COMMISSION Ocean Transportation Intermediary License Revocations The Federal Maritime Commission hereby gives notice that the following Ocean Transportation Intermediary licenses have been revoked pursuant to section 19 of the Shipping Act of 1984 (46 U.S.C. Chapter 409) and the regulations of the Commission pertaining to the licensing of Ocean Transportation Intermediaries, 46 CFR part 515, effective on the corresponding date shown below: E:\FR\FM\09JYN1.SGM 09JYN1

Agencies

[Federal Register Volume 74, Number 130 (Thursday, July 9, 2009)]
[Notices]
[Page 32934]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E9-16255]


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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 
Sec. [thinsp]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 
bank holding companies may be obtained from the National Information 
Center website at 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 July 24, 2009.

    A. Federal Reserve Bank of Minneapolis (Jacqueline G. King, 
Community Affairs Officer) 90 Hennepin Avenue, Minneapolis, Minnesota 
55480-0291:

    1. Norlo Inc., Prior Lake, Minnesota, to engage, de novo, in 
lending activities, pursuant to section 225.28 (b)(1) of Regulation Y.

    Board of Governors of the Federal Reserve System, July 06, 2009.
Robert deV. Frierson,
Deputy Secretary of the Board.
[FR Doc. E9-16255 Filed 7-8-09; 8:45 am]
BILLING CODE 6210-01-S
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