Notice of Proposals to Engage in Permissible Nonbanking Activities or to Acquire Companies that are Engaged in Permissible Nonbanking Activities, 60749-60750 [2010-24665]

Download as PDF Federal Register / Vol. 75, No. 190 / Friday, October 1, 2010 / Notices 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 October 28, 2010. A. Federal Reserve Bank of Chicago (Colette A. Fried, Assistant Vice President) 230 South LaSalle Street, Chicago, Illinois 60690–1414: 1. Rigler Investment Co., New Hampton, Iowa; to acquire 100 percent of the voting shares of State Bank & Trust Company, Waverly, Iowa. Board of Governors of the Federal Reserve System, September 28, 2010. Robert deV. Frierson, Deputy Secretary of the Board. [FR Doc. 2010–24666 Filed 9–30–10; 8:45 am] BILLING CODE 6210–01–S FEDERAL RESERVE SYSTEM [Docket No. OP–1345] Policy on Payment System Risk Board of Governors of the Federal Reserve System. ACTION: Notice. AGENCY: The Board of Governors of the Federal Reserve System (Board) is announcing the implementation date of March 24, 2011, for revisions to part II of its Policy on Payment System Risk (PSR). The revisions explicitly recognize the role of the central bank in providing intraday credit to healthy depository institutions, and establish a zero fee for collateralized daylight overdrafts, a 50 emcdonald on DSK2BSOYB1PROD with NOTICES SUMMARY: VerDate Mar<15>2010 17:34 Sep 30, 2010 Jkt 220001 basis point (annual rate) charge for uncollateralized daylight overdrafts, and a biweekly daylight overdraft fee waiver of $150. The Board approved these revisions in late 2008 for implementation in approximately two years following substantial changes to the Reserve Bank infrastructure. DATES: Effective Date: The policy will take effect on March 24, 2011. FOR FURTHER INFORMATION CONTACT: Jeffrey Marquardt, Deputy Director (202) 452–2360, Susan Foley, Deputy Associate Director (202) 452–3596, or Jeffrey Walker, Manager (202) 721–4559, Division of Reserve Bank Operations and Payment Systems, Board of Governors of the Federal Reserve System; for users of Telecommunications Device for the Deaf (‘‘TDD’’) only, contact (202) 263–4869. SUPPLEMENTARY INFORMATION: On December 19, 2008, the Board approved revisions to part II of its PSR policy designed to improve intraday liquidity management and payment flows for the banking system, while also helping to mitigate credit exposures of the Federal Reserve Banks (Reserve Banks) from daylight overdrafts.1 The revisions formally recognize the role of the central bank in providing intraday credit to depository institutions and encourage them to collateralize explicitly their daylight overdrafts. Collateralized daylight overdrafts will be charged a zero fee, while uncollateralized daylight overdrafts will be charged 50 basis points (annual rate), an increase from the current rate of 36 basis points (annual rate), to encourage the voluntary use of collateral. The Board also approved a biweekly daylight overdraft fee waiver of $150 to minimize the effect of the proposed policy changes on institutions that use small amounts of daylight overdrafts. In addition, the Board changed other elements of the PSR policy dealing with daylight overdrafts, including adjusting net debit caps, streamlining max cap procedures for certain FBOs (implemented in March 2009), eliminating the deductible for daylight overdraft fees, and increasing the penalty daylight overdraft fee for ineligible institutions to 150 basis points (annual rate). The revisions to the PSR policy will become effective on March 24, 2011. The Board encourages depository institutions to review documentation explaining the implementation of the revised PSR policy. Institutions should review either the Overview of the Federal Reserve’s Payment System Risk Policy (Overview) or the Guide to the 1 See PO 00000 73 FR 79109, December 24, 2008. Frm 00039 Fmt 4703 Sfmt 4703 60749 Federal Reserve’s Payment System Risk Policy (the Guide). The purpose of the Overview is to help depository institutions that use only minimal amounts of Federal Reserve intraday credit understand and comply with the PSR policy. The purpose of the Guide is to help institutions that use Federal Reserve intraday credit more regularly, foreign banking organizations, and those that may be considered ‘‘special situations’’ because of their legal structure or payment activity, understand and comply with more detailed aspects of the PSR policy. Versions of the Guide and Overview that have been updated with information related to the revised policy will be available on the Board’s Web site later this year at https:// www.federalreserve.gov/ paymentsystems/psr_relpolicies.htm. The current versions of the Guide and Overview will be available on the Board’s Web site until 30 days after the implementation date. The Federal Reserve will also publish updated guidelines for collateral pledging and withdrawal to help institutions better understand the types of collateral eligible to pledge and the processing steps associated with these types of collateral. This information will be available on the discount window and PSR Web site later this year at https://www.frbdiscountwindow.org. In addition, to assist all institutions in understanding the effect of the revised policy on their daylight overdraft fees, the Board created a simplified fee calculator that is located on the Board’s Web site at https:// www.federalreserve.gov/apps/RPFCalc/. The calculator enables institutions to input daylight overdraft and collateral data to estimate their daylight overdraft fees under the revised PSR policy. The calculator will be available until 30 days after the implementation date. By order of the Board of Governors of the Federal Reserve System, September 23, 2010. Jennifer J. Johnson, Secretary of the Board. [FR Doc. 2010–24649 Filed 9–30–10; 8:45 am] BILLING CODE 6210–01–P 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. E:\FR\FM\01OCN1.SGM 01OCN1 60750 Federal Register / Vol. 75, No. 190 / Friday, October 1, 2010 / Notices 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 October 18, 2010. A. Federal Reserve Bank of Kansas City (Dennis Denney, Assistant Vice President) 1 Memorial Drive, Kansas City, Missouri 64198–0001: 1. Raton Capital Corporation, Raton, New Mexico; to continue 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, September 28, 2010. Robert deV. Frierson, Deputy Secretary of the Board. [FR Doc. 2010–24665 Filed 9–30–10; 8:45 am] BILLING CODE 6210–01–S FEDERAL TRADE COMMISSION Granting of Request for Early Termination of the Waiting Period Under the Premerger Notification Rules Hart-Scott Rodino Antitrust Improvements Act of 1976, requires persons contemplating certain mergers or acquisitions to give the Federal Trade Commission and the Assistant Attorney General advance notice and to wait designated periods before consummation of such plans. Section 7A(b)(2) of the Act permits the agencies, in individual cases, to terminate this waiting period prior to its expiration and requires that notice of this action be published in the Federal Register. The following transactions were granted early termination of the waiting period provided by law and the premerger notification rules. The grants were made by the Federal Trade Commission and the Assistant Attorney General for the Antitrust Division of the Department of Justice. Neither agency intends to take any action with respect to these proposed acquisitions during the applicable waiting period. Section 7A of the Clayton Act, 15 U.S.C. 18a, as added by Title 11 of the TRANSACTION GRANTED EARLY TERMINATION ET date Trans. No. 17–AUG–10 .............................................................. ET req status Party name ValueAct Capital Master Fund, L.P. Biovail Corporation. Biovail Corporation. G G G Blackstone Capital Partners III Merchant Banking Fund L.P. Liquid Container L.P. Liquid Container L.P. 20100935 G G G Lance, Inc. Snyder’s of Hanover, Inc. Snyder’s of Hanover, Inc. G G G Michael A. Warehime. Lance, Inc. Lance, Inc. G G G Health Management Associates, Inc. Wuesthoff Health Systems, Inc. Wuesthoff Health Systems, Inc. 20100981 emcdonald on DSK2BSOYB1PROD with NOTICES G G G 20100979 G G G G G G G Key Energy Services, Inc. ArcLight Energy Partners Fund III, L.P. OFS Holdings, LLC. OFS Energy Services, LLC. Davis Energy Services, LLC. QCP Energy Services, LLC. Swan Energy Services, LLC. 20100982 G G G ArcLight Energy Partners Fund III, L.P. Key Energy Services, Inc. Key Energy Services, Inc. 20100983 PO 00000 Corn Products International, Inc. Akzo Nobel N.V. National Starch LLC. Brunob II BV. 20100937 Jkt 220001 G G G G 20100990 17:34 Sep 30, 2010 Novartis AG. Nestle S.A. Alcon, Inc. 20100978 VerDate Mar<15>2010 G G G 20100920 18–AUG–10 .............................................................. 20100346 G G G Tyco Electronics Ltd. ADC Telecommunications, Inc. ADC Telecommunications, Inc. Frm 00040 Fmt 4703 Sfmt 4703 E:\FR\FM\01OCN1.SGM 01OCN1

Agencies

[Federal Register Volume 75, Number 190 (Friday, October 1, 2010)]
[Notices]
[Pages 60749-60750]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2010-24665]


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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.

[[Page 60750]]

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 October 18, 2010.
    A. Federal Reserve Bank of Kansas City (Dennis Denney, Assistant 
Vice President) 1 Memorial Drive, Kansas City, Missouri 64198-0001:
    1. Raton Capital Corporation, Raton, New Mexico; to continue 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, September 28, 
2010.
Robert deV. Frierson,
Deputy Secretary of the Board.
[FR Doc. 2010-24665 Filed 9-30-10; 8:45 am]
BILLING CODE 6210-01-S
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