Formations of, Acquisitions by, and Mergers of Bank Holding Companies, 7579 [2012-3256]

Download as PDF erowe on DSK2VPTVN1PROD with NOTICES Federal Register / Vol. 77, No. 29 / Monday, February 13, 2012 / Notices 552(b). All such requests for confidential treatment will be reviewed on a case-by-case basis. Abstract: The FR 2320 will be a quarterly information collection of parent only and consolidated financial and organizational structure data of top and lower tier SLHCs. The data was previously collected on Schedule HC of the TFR. Title III of the Dodd-Frank Act transferred all former OTS authorities (including rulemaking) related to SLHCs to the Federal Reserve on July 21, 2011. Consequently, the Federal Reserve became responsible for the consolidated supervision of SLHCs beginning July 21, 2011. The Federal Reserve will use the data to evaluate a diversified holding company and to determine whether an SLHC is in compliance with applicable laws and regulations. In addition, the data collected will contribute to the analyses of the overall financial condition of SLHCs to ensure safe and sound operations. Current Actions: On November 10, 2011, the Federal Reserve published a notice in the Federal Register (76 FR 70146) requesting public comment for 60 days on the implementation of the Quarterly Savings and Loan Holding Company Report (FR 2320). The comment period for this notice expired on January 9, 2012. The Federal Reserve received three comment letters addressing the proposed implementation of the FR 2320: two from law firms and one from a financial services company. Two commenters requested clarification of the reporting criteria for multi-tiered SLHCs. Also, these commenters asked that the Federal Reserve be flexible when determining which SLHCs within a multi-tiered organization would be required to file the FR 2320. In response to the comments, the Federal Reserve will clarify the FR 2320 instructions to indicate which SLHCs should file the FR 2320. The FR 2320 will generally be filed by the top-tier SLHC if that SLHC is exempt 1 from filing the Federal Reserve’s existing regulatory reports. However, if a top-tier SLHC is not required to file the FR 2320, then a lower-tier SLHC must file FR 2320. Such determination as to which SLHC will be required to file the FR 2320 will be made by the district Federal Reserve Bank. In addition, lower-tier SLHCs may voluntarily file the FR 2320 or may be 1 An exempt SLHC includes: (1) A grandfathered unitary SLHC whose assets are primarily commercial and whose thrifts make up less than 5 percent of its consolidated assets; and (2) a SLHC whose assets are primarily insurance-related and who does not otherwise submit financial reports with the Securities and Exchange Commission. VerDate Mar<15>2010 14:46 Feb 10, 2012 Jkt 226001 required to file (in addition to the toptier SLHC) for safety and soundness purposes at the discretion of the district Federal Reserve Bank. One commenter noted certain data items that were given confidential treatment by the OTS are no longer afforded the same treatment in the FR 2320 and this may be of concern to privately held institutions. After considering these comments, the Federal Reserve believes the data items no longer held as confidential will not cause competitive harm to any institution, publicly or privately held and notes there are several BHCs that are privately held where similar information is made publicly available. However, as noted above, institutions may request, in writing, confidential treatment for any data item in the FR 2320 or for all data items in the report, and confidential treatment will be afforded if the institution is able to establish that disclosure would cause substantial competitive harm. Board of Governors of the Federal Reserve System, February 7, 2012. Jennifer J. Johnson, Secretary of the Board. 7579 noted, nonbanking activities will be conducted throughout the United States. 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 March 9, 2012. A. Federal Reserve Bank of Minneapolis (Jacqueline G. King, Community Affairs Officer) 90 Hennepin Avenue, Minneapolis, Minnesota 55480–0291: 1. Western State Agency, Inc. Employee Stock Ownership Plan and Trust, Devils Lake, North Dakota; to acquire an additional 14.44 percent, for a total of 43.25 percent of the voting shares of Western State Agency, Inc., Devils Lake, North Dakota, and thereby indirectly acquire additional voting shares of Western State Bank, Devils Lake, North Dakota. Dated: February 8, 2012. Board of Governors of the Federal Reserve System. Jennifer J. Johnson, Secretary of the Board. [FR Doc. 2012–3256 Filed 2–10–12; 8:45 am] BILLING CODE 6210–01–P [FR Doc. 2012–3192 Filed 2–10–12; 8:45 am] BILLING CODE 6210–01–P GOVERNMENT ACCOUNTABILITY OFFICE 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 will also 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 PO 00000 Frm 00015 Fmt 4703 Sfmt 4703 Debarment, Suspension, and Ineligibility of Contractors AGENCY: Government Accountability Office. ACTION: Policy statement. On September 30, 2011, the Government Accountability Office (GAO) provided notice of its proposed policy to adopt the policies and procedures contained in the Federal Acquisition Regulation (FAR) regarding the debarment, suspension, and ineligibility of government contractors. Comments on GAO’s policy were due on or before November 14, 2011. GAO received two comments. Both comments expressed support for GAO’s efforts to adopt policies and procedures regarding the debarment, suspension, and ineligibility of government contractors. Neither comment suggested any changes to GAO’s policy statement. GAO is adopting, with minor changes, the policy statement published in the Federal Register on September 30, as set forth below. As a legislative branch agency, GAO is not subject to the requirements of the FAR. However, it is GAO’s general policy to follow the FAR, as appropriate and applicable. Mandatory application of the FAR is not to be inferred from SUMMARY: E:\FR\FM\13FEN1.SGM 13FEN1

Agencies

[Federal Register Volume 77, Number 29 (Monday, February 13, 2012)]
[Notices]
[Page 7579]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-3256]


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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 will also 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.
    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 March 9, 2012.
    A. Federal Reserve Bank of Minneapolis (Jacqueline G. King, 
Community Affairs Officer) 90 Hennepin Avenue, Minneapolis, Minnesota 
55480-0291:
    1. Western State Agency, Inc. Employee Stock Ownership Plan and 
Trust, Devils Lake, North Dakota; to acquire an additional 14.44 
percent, for a total of 43.25 percent of the voting shares of Western 
State Agency, Inc., Devils Lake, North Dakota, and thereby indirectly 
acquire additional voting shares of Western State Bank, Devils Lake, 
North Dakota.

Dated: February 8, 2012.

    Board of Governors of the Federal Reserve System.
Jennifer J. Johnson,
Secretary of the Board.
[FR Doc. 2012-3256 Filed 2-10-12; 8:45 am]
BILLING CODE 6210-01-P