Formations of, Acquisitions by, and Mergers of Bank Holding Companies, 47070 [2012-19291]
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47070
Federal Register / Vol. 77, No. 152 / Tuesday, August 7, 2012 / Notices
income ratio of the borrower and any
co-borrowers; and the unpaid principal
balance, term-to-maturity, interest rate,
and type (i.e., fixed- or adjustable-rate)
of the loan. The remaining data that
would not normally be exchanged in the
ordinary course of business comprises
information identifying the race,
ethnicity, and gender of the borrower
and any co-borrowers, which are items
that the Banks are required to aggregate
and report by census-tract to FHFA
under section 10(k) of the Bank Act. It
is these few items that comprise the
actual information collection
requirement to which Bank members
and housing associates may be required
to respond.
The OMB control number for the
information collection, which expires
on October 31, 2012, is 2590–0008. The
likely respondents are member and nonmember financial institutions that sell
AMA assets to Banks.
B. Burden Estimate
FHFA estimates that the hour burden
associated with the AMA collection will
be lower than that estimated when the
agency last requested clearance for this
control number. FHFA estimates that
the total annual average number of
AMA loans acquired by all Banks will
be 48,000 and that the average time
needed for a respondent to record and
transmit the relevant data to the
acquiring Bank will be 5 minutes per
loan. Accordingly, the estimate for the
total annual hour burden on
respondents is 4,000 hours (48,000
loans × 5 minutes per loan).
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C. Comment Request
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; (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.
Dated: July 31, 2012.
Kevin Winkler,
Chief Information Officer, Federal Housing
Finance Agency.
ACTION:
Formations of, Acquisitions by, and
Mergers of Bank Holding Companies
SUMMARY:
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 August 31,
2012.
A. Federal Reserve Bank of New York
(Ivan Hurwitz, Vice President) 33
Liberty Street, New York, New York
10045–0001:
1. Oriental Financial Group Inc., San
Juan, Puerto Rico; to acquire 100
percent of the voting shares of BBVAPR
Holding Corporation, and thereby
indirectly acquire Banco Bilbao Vizcaya
Argentaria Puerto Rico, both in San
Juan, Puerto Rico.
Board of Governors of the Federal Reserve
System, August 2, 2012.
Robert deV. Frierson,
Secretary of the Board.
[FR Doc. 2012–19291 Filed 8–6–12; 8:45 am]
BILLING CODE 6210–01–P
FEDERAL TRADE COMMISSION
[FR Doc. 2012–19243 Filed 8–6–12; 8:45 am]
Withdrawal of the Commission Policy
Statement on Monetary Equitable
Remedies in Competition Cases
BILLING CODE 8070–01–P
AGENCY:
VerDate Mar<15>2010
16:52 Aug 06, 2012
Jkt 226001
Notice of withdrawal of
Commission policy statement.
FEDERAL RESERVE SYSTEM
PO 00000
Federal Trade Commission.
Frm 00043
Fmt 4703
Sfmt 4703
In 2003 the Federal Trade
Commission issued a Policy Statement
on Monetary Remedies in Competition
Cases. The Commission has now
withdrawn the Policy Statement.
DATES: Effective Date: July 31, 2012.
FOR FURTHER INFORMATION CONTACT:
Mark Seidman, Attorney, Bureau of
Competition, Federal Trade
Commission, 600 Pennsylvania Avenue
NW., Washington, DC 20580, 202–326–
3296
SUPPLEMENTARY INFORMATION:
Statement of the Commission, Effecting
the Withdrawal of the Commission’s
Policy Statement on Monetary
Equitable Remedies in Competition
Cases (July 31, 2012)
In 2003, the Federal Trade
Commission issued the Policy
Statement on Monetary Remedies in
Competition Cases (‘‘Policy
Statement’’),1 which outlined an
analytical framework to guide
Commission determination of
appropriate circumstances for the use of
monetary equitable remedies in federal
court. Although intended to clarify past
Commission views on this topic, the
practical effect of the Policy Statement
was to create an overly restrictive view
of the Commission’s options for
equitable remedies.2 Accordingly, the
Commission withdraws the Policy
Statement and will rely instead upon
existing law, which provides sufficient
guidance on the use of monetary
equitable remedies.
As past cases demonstrate,
disgorgement and restitution can be
effective remedies in competition
matters, both to deprive wrongdoers of
unjust enrichment and to restore their
victims to the positions they would
have occupied but for the illegal
behavior. Because the ordinary purpose
and effect of anticompetitive conduct is
to enrich wrongdoers at the expense of
consumers, competition cases may often
be appropriate candidates for monetary
equitable relief. Although our decisions
and orders generally focus on structural
1 Fed. Trade Comm’n, Policy Statement on
Monetary Equitable Remedies in Competition
Cases, 68 FR 45,820 (Aug. 4, 2003) [hereinafter
‘‘Policy Statement’’].
2 Although footnote 4 of the Policy Statement
notes that ‘‘[i]t does not create any right or
obligation, impose any element of proof, or adjust
the burden of proof or production of evidence on
any particular issue, as those standards have been
established by the courts,’’ we are concerned that
parties could mistakenly argue that the factors laid
out in the Policy Statement are binding on the
Commission, thus creating an unnecessary side
issue in litigation. Id. at n.4.
E:\FR\FM\07AUN1.SGM
07AUN1
]]>Agencies
[Federal Register Volume 77, Number 152 (Tuesday, August 7, 2012)]
[Notices]
[Page 47070]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-19291]
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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 August 31, 2012.
A. Federal Reserve Bank of New York (Ivan Hurwitz, Vice President)
33 Liberty Street, New York, New York 10045-0001:
1. Oriental Financial Group Inc., San Juan, Puerto Rico; to acquire
100 percent of the voting shares of BBVAPR Holding Corporation, and
thereby indirectly acquire Banco Bilbao Vizcaya Argentaria Puerto Rico,
both in San Juan, Puerto Rico.
Board of Governors of the Federal Reserve System, August 2,
2012.
Robert deV. Frierson,
Secretary of the Board.
[FR Doc. 2012-19291 Filed 8-6-12; 8:45 am]
BILLING CODE 6210-01-P
