Formations of, Acquisitions by, and Mergers of Bank Holding Companies, 38191 [E9-18277]
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Federal Register / Vol. 74, No. 146 / Friday, July 31, 2009 / Notices
Information Collection Contact: David
L. Roderer, Senior Financial Analyst at
202–408–2540 (not a toll-free number),
david.l.roderer@fhfa.gov. The telephone
number for the Telecommunications
Device for the Deaf is 800–877–8339.
SUPPLEMENTARY INFORMATION:
PWALKER on DSK8KYBLC1PROD with NOTICES
A. Need For and Use of the Information
Collection
The FHFA has authorized the Federal
Home Loan Banks (Banks) to acquire
mortgage loans and other assets from
their members or housing associates
under certain circumstances. 12 CFR
part 955. The regulation refers to these
assets as acquired member assets or
AMA. As part of this regulatory
authorization, each Bank that acquires
residential mortgage loans must provide
to the FHFA certain loan-level data on
a quarterly basis. The reporting
requirements, which previously were in
12 CFR part 955 (specifically, section
955.4 and Appendices A and B),
currently are contained in the FHFA
Data Reporting Manual (DRM). The
FHFA uses this data to monitor the
safety and soundness of the Banks and
the extent to which the Banks are
fulfilling their statutory housing finance
mission through their AMA programs.
See 12 U.S.C. 1422a(a), repealed by
section 1204 of the Housing and
Economic Recovery Act of 2008 (HERA)
and replaced with section 1312 of the
Federal Housing Enterprises Financial
Safety and Soundness Act of 1992, as
amended (July 30, 2008).
While the Banks provide the AMA
data directly to the FHFA, each Bank
initially must collect the information
from the private-sector member or
housing associate from which the Bank
acquires the mortgage loan. Bank
members and housing associates already
collect the vast majority of the data the
FHFA requires in order to do business
with the Federal National Mortgage
Association (Fannie Mae) and the
Federal Home Loan Mortgage
Corporation (Freddie Mac) under
regulatory requirements issued by the
Department of Housing and Urban
Development (HUD) and pursuant to the
data collection requirements under the
Home Mortgage Disclosure Act (HMDA).
Thus, the FHFA’s information collection
imposes only a minor incremental
additional burden on Bank members
and housing associates.
The OMB control number for the
information collection, which expires
on August 31, 2009, is 2590–0008. The
likely respondents are institutions that
sell AMA assets to Banks.
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16:38 Jul 30, 2009
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B. Burden Estimate
The FHFA estimates that the hour
burden associated with the AMA
collection is little changed. More
institutions are participating in the
AMA program, but the average report
size has gone down dramatically. The
FHFA estimates the total annual average
number of respondents at 750, with 4
responses per respondent. The estimate
for the average hours per response is 12
hours. The estimate for the total annual
hour burden is 36,000 hours (750
respondents × 4 responses per
respondent × 12 hours).
Bank members could incur additional
one-time costs to be able to collect and
report additional loan-level data
elements. The FHFA estimates this
additional, one-time cost at $150,000
($2,000 × 750 members).
C. Comment Request
In accordance with 5 CFR 1320.8(d),
the FHFA published a request for public
comments regarding this information
collection in the Federal Register on
May 28, 2009. See 74 FR 25538. The 60day comment period closed on July 27,
2009. The FHFA received no public
comments.
The FHFA requests written comments
on the following: (1) Whether the
collection of information is necessary
for the proper performance of FHFA
functions, including whether the
information has practical utility; (2) the
accuracy of the FHFA estimates of the
burdens of the collection of information,
including whether the agency used
valid methods and assumptions; (3)
ways to enhance the quality, utility and
clarity of the information collected; and
(4) ways to minimize the burden of the
collection of information, including
through the use of automated collection
techniques or other forms of information
technology and including whether the
agency should expand the electronic
reporting options for respondents.
Comments may be submitted to OMB in
writing at the e-mail address and fax
number listed above.
Dated: July 27, 2009.
James B. Lockhart III,
Director, Federal Housing Finance Agency.
[FR Doc. E9–18381 Filed 7–30–09; 8:45 am]
BILLING CODE 8070–01–P
38191
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 applications 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
website at 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 August 24,
2009.
A. Federal Reserve Bank of
Minneapolis (Jacqueline G. King,
Community Affairs Officer) 90
Hennepin Avenue, Minneapolis,
Minnesota 55480–0291:
1. State Bank of Hawley Employee
Stock Ownership Plan and Trust,
Hawley, Minnesota; to acquire
additional voting shares, for a total of
51.9 percent, of the voting shares of
Bankshares of Hawley, Inc., Hawley,
Minnesota, and thereby indirectly
acquire additional voting shares of State
Bank of Hawley, Hawley, Minnesota.
Board of Governors of the Federal Reserve
System, July 27, 2009.
Robert deV. Frierson,
Deputy Secretary of the Board.
[FR Doc. E9–18277 Filed 7–30–09; 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
PO 00000
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FEDERAL MARITIME COMMISSION
Notice of Agreements Filed
The Commission hereby gives notice
of the filing of the following agreements
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[Federal Register Volume 74, Number 146 (Friday, July 31, 2009)]
[Notices]
[Page 38191]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E9-18277]
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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 applications 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 website at 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 August 24, 2009.
A. Federal Reserve Bank of Minneapolis (Jacqueline G. King,
Community Affairs Officer) 90 Hennepin Avenue, Minneapolis, Minnesota
55480-0291:
1. State Bank of Hawley Employee Stock Ownership Plan and Trust,
Hawley, Minnesota; to acquire additional voting shares, for a total of
51.9 percent, of the voting shares of Bankshares of Hawley, Inc.,
Hawley, Minnesota, and thereby indirectly acquire additional voting
shares of State Bank of Hawley, Hawley, Minnesota.
Board of Governors of the Federal Reserve System, July 27, 2009.
Robert deV. Frierson,
Deputy Secretary of the Board.
[FR Doc. E9-18277 Filed 7-30-09; 8:45 am]
BILLING CODE 6210-01-S
