Determination of Insufficient Assets to Satisfy Claims Against Financial Institution in Receivership, 13671 [2013-04553]

Download as PDF Federal Register / Vol. 78, No. 40 / Thursday, February 28, 2013 / Notices The information is organized by function to show how contracted resources are distributed throughout the agency. The inventory has been developed in accordance with guidance issued on November 5, 2010 and December 19, 2011 by the Office of Management and Budget’s Office of Federal Procurement Policy (OFPP). OFPP’s guidance is available at: http://www.whitehouse. gov/omb/procurement-service-contractinventories. The Federal Communications Commission has posted (1) Its FY 2012 inventory and (2) a summary of the FY 2012 inventory, as well as, (3) the planned analysis of its selected special interest function from the FY 2012 Service contract inventory, and (4) the analysis of the FY 2011 Service Contract inventory, on the Federal Communications Commission’s Web site at the following link http:// www.fcc.gov/encyclopedia/servicecontract-inventory. SUPPLEMENTARY INFORMATION: Federal Communications Commission. Marlene H. Dortch, Secretary. [FR Doc. 2013–04697 Filed 2–27–13; 8:45 am] BILLING CODE 6712–01–P FEDERAL DEPOSIT INSURANCE CORPORATION Determination of Insufficient Assets to Satisfy Claims Against Financial Institution in Receivership Federal Deposit Insurance Corporation (FDIC). ACTION: Notice. AGENCY: The FDIC has determined that insufficient assets exist in the receivership of Franklin Bank, S.S.B., Houston, Texas, to make any distribution on general unsecured claims, and therefore such claims will recover nothing and have no value. DATES: The FDIC made its determination on February 22, 2013. FOR FURTHER INFORMATION CONTACT: If you have questions regarding this notice, you may contact an FDIC Claims Agent at (972) 761–8677. Written correspondence may also be mailed to FDIC as Receiver of Franklin Bank, S.S.B., Attention: Claims Agent, 1601 Bryan Street, Dallas, Texas 75201. SUPPLEMENTARY INFORMATION: On November 7, 2008, Franklin Bank, S.S.B., Houston, Texas, (FIN #10021) was closed by the Texas Department of Savings and Mortgage Lending, and the Federal Deposit Insurance Corporation (‘‘FDIC’’) was appointed as its receiver mstockstill on DSK4VPTVN1PROD with NOTICES SUMMARY: VerDate Mar<15>2010 19:12 Feb 27, 2013 Jkt 229001 (‘‘Receiver’’). In complying with its statutory duty to resolve the institution in the method that is least costly to the deposit insurance fund (see 12 U.S.C. 1823(c)(4)), the FDIC facilitated a transaction with Prosperity Bank, El Campo, Texas, to assume all deposits and a portion of the assets of the failed institution. Section 11(d)(11)(A) of the FDI Act, 12 U.S.C. 1821(d)(11)(A), sets forth the order of priority for distribution of amounts realized from the liquidation or other resolution of an insured depository institution to pay claims. Under the statutory order of priority, administrative expenses and deposit liabilities must be paid in full before any distribution may be made to general unsecured creditors or any lower priority claims. As of December 31, 2012, the maximum value of assets that could be available for distribution by the Receiver, together with maximum possible recoveries on professional liability claims against directors, officers, and other professionals, plus anticipated maximum recoveries from pending transactions was $714,420,467. As of the same date, administrative expenses and depositor liabilities equaled $1,031,660,492, exceeding available assets and potential recoveries by $317,240,025. Accordingly, the FDIC has determined that insufficient assets exist to make any distribution on general unsecured creditor claims (and any lower priority claims) and therefore all such claims, asserted or unasserted, will recover nothing and have no value. Dated: February 22, 2013. Federal Deposit Insurance Corporation. Robert E. Feldman, Executive Secretary. [FR Doc. 2013–04553 Filed 2–27–13; 8:45 am] BILLING CODE 6714–01–P FEDERAL HOUSING FINANCE AGENCY [No. 2013–N–02] Proposed Collection; Comment Request Federal Housing Finance Agency. ACTION: 30-day notice of submission of information collection for approval from the Office of Management and Budget. AGENCY: In accordance with the requirements of the Paperwork Reduction Act of 1995, the Federal Housing Finance Agency (FHFA) is seeking public comments concerning a currently approved information SUMMARY: PO 00000 Frm 00054 Fmt 4703 Sfmt 4703 13671 collection known as ‘‘Affordable Housing Program (AHP),’’ which has been assigned control number 2590– 0007 by the Office of Management and Budget (OMB). FHFA will submit a request to OMB for regular review and approval to renew the information collection for a three-year period. The control number is due to expire on February 28, 2013. DATES: Interested persons may submit comments on or before April 1, 2013. Comments: Submit written comments to the Office of Information and Regulatory Affairs of the Office of Management and Budget, Attention: Desk Officer for the Federal Housing Finance Agency, Washington, DC 20503, Fax: (202) 395–6974, Email address: OIRA_Submission @omb.eop.gov. Please also submit them to FHFA using any of the following methods: • Email: RegComments@fhfa.gov. Please include Proposed Collection; Comment Request: Affordable Housing Program (AHP) (No. 2013–N–02) in the subject line of the message. • Mail/Hand Delivery: Federal Housing Finance Agency, Eighth Floor, 400 Seventh Street SW., Washington, DC 20024, ATTENTION: Public Comments/Proposed Collection; Comment Request: Affordable Housing Program (AHP) (No. 2013–N–02). • Federal eRulemaking Portal: http:// www.regulations.gov. Follow the instructions for submitting comments. If you submit your comment to the Federal eRulemaking Portal, please also send it by email to FHFA at Regcomments@fhfa.gov to ensure timely receipt by the agency. We will post all public comments we receive without change, including any personal information you provide, such as your name and address, on the FHFA Web site at http://www.fhfa.gov. In addition, copies of all comments received will be available for examination by the public on business days between the hours of 10 a.m. and 3 p.m., at the Federal Housing Finance Agency, Eighth Floor, 400 Seventh Street SW., Washington, DC 20024. To make an appointment to inspect comments, please call the Office of General Counsel at (202) 649–3804. FOR FURTHER INFORMATION CONTACT: Sylvia C. Martinez, Principal Advisor/ Manager, Office of the Deputy Director, Division of Bank Regulation (DBR), Sylvia.Martinez@fhfa.gov, (202) 649– 3301; or Deattra D. Perkins, Senior Policy Analyst, DBR, Deattra.Perkins @fhfa.gov, (202) 649–3133 (not toll-free numbers). The telephone number for the E:\FR\FM\28FEN1.SGM 28FEN1

Agencies

[Federal Register Volume 78, Number 40 (Thursday, February 28, 2013)]
[Notices]
[Page 13671]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2013-04553]


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FEDERAL DEPOSIT INSURANCE CORPORATION


Determination of Insufficient Assets to Satisfy Claims Against 
Financial Institution in Receivership

AGENCY: Federal Deposit Insurance Corporation (FDIC).

ACTION: Notice.

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SUMMARY: The FDIC has determined that insufficient assets exist in the 
receivership of Franklin Bank, S.S.B., Houston, Texas, to make any 
distribution on general unsecured claims, and therefore such claims 
will recover nothing and have no value.

DATES: The FDIC made its determination on February 22, 2013.

FOR FURTHER INFORMATION CONTACT: If you have questions regarding this 
notice, you may contact an FDIC Claims Agent at (972) 761-8677. Written 
correspondence may also be mailed to FDIC as Receiver of Franklin Bank, 
S.S.B., Attention: Claims Agent, 1601 Bryan Street, Dallas, Texas 
75201.

SUPPLEMENTARY INFORMATION: On November 7, 2008, Franklin Bank, S.S.B., 
Houston, Texas, (FIN 10021) was closed by the Texas Department 
of Savings and Mortgage Lending, and the Federal Deposit Insurance 
Corporation (``FDIC'') was appointed as its receiver (``Receiver''). In 
complying with its statutory duty to resolve the institution in the 
method that is least costly to the deposit insurance fund (see 12 
U.S.C. 1823(c)(4)), the FDIC facilitated a transaction with Prosperity 
Bank, El Campo, Texas, to assume all deposits and a portion of the 
assets of the failed institution.
    Section 11(d)(11)(A) of the FDI Act, 12 U.S.C. 1821(d)(11)(A), sets 
forth the order of priority for distribution of amounts realized from 
the liquidation or other resolution of an insured depository 
institution to pay claims. Under the statutory order of priority, 
administrative expenses and deposit liabilities must be paid in full 
before any distribution may be made to general unsecured creditors or 
any lower priority claims.
    As of December 31, 2012, the maximum value of assets that could be 
available for distribution by the Receiver, together with maximum 
possible recoveries on professional liability claims against directors, 
officers, and other professionals, plus anticipated maximum recoveries 
from pending transactions was $714,420,467. As of the same date, 
administrative expenses and depositor liabilities equaled 
$1,031,660,492, exceeding available assets and potential recoveries by 
$317,240,025. Accordingly, the FDIC has determined that insufficient 
assets exist to make any distribution on general unsecured creditor 
claims (and any lower priority claims) and therefore all such claims, 
asserted or unasserted, will recover nothing and have no value.

    Dated: February 22, 2013.

Federal Deposit Insurance Corporation.
Robert E. Feldman,
Executive Secretary.
[FR Doc. 2013-04553 Filed 2-27-13; 8:45 am]
BILLING CODE 6714-01-P