Formations of, Acquisitions by, and Mergers of Savings and Loan Holding Companies, 22545-22546 [2013-08882]

Download as PDF Federal Register / Vol. 78, No. 73 / Tuesday, April 16, 2013 / Notices mstockstill on DSK4VPTVN1PROD with NOTICES the forms contained in the collection can be obtained at the FDIC’s Web site: http://www.fdic.gov/regulations/laws/ federal/notices.html. SUPPLEMENTARY INFORMATION: The FDIC is requesting OMB approval to renew the following information collection: Title: Application for Consent to Reduce or Retire Capital. OMB Number: 3064–0079. Form Number: None. Estimated Number of applications: 80. Burden per application: 1 hour. Total annual burden: 80 hours. General Description of Collection: This collection requires insured state nonmember banks that propose to change their capital structure to submit an application containing information about the proposed change in order to obtain FDIC’s consent to reduce or retire capital. The requirements are set forth in section 18(i) of the Federal Deposit Insurance Act (12 U.S.C. 1828(i)) and Part 303 of the FDIC’s regulations (12 CFR 303.241). The FDIC evaluates the information contained in the letter application in relation to statutory considerations and makes a decision to grant or to withhold consent. The statutory considerations include the financial history and condition of the bank; the adequacy of its capital structure; its future earnings prospects; the general character and fitness of its management; the convenience and needs of the community to be served; and, whether or not its corporate powers are consistent with the purpose of the Act. Request for Comment Comments are invited on: (a) Whether these collections of information are necessary for the proper performance of the FDIC’s functions, including whether the information has practical utility; (b) the accuracy of the estimate of the burden of the information collection, including the validity of the methodology and assumptions used; (c) ways to enhance the quality, utility, and clarity of the information to be collected; and (d) ways to minimize the burden of the information collection on respondents, including through the use of automated collection techniques or other forms of information technology. All comments will become a matter of public record. Dated at Washington, DC, this 10th day of April 2013. Federal Deposit Insurance Corporation. Robert E. Feldman, Executive Secretary. [FR Doc. 2013–08823 Filed 4–15–13; 8:45 am] BILLING CODE 6714–01–P VerDate Mar<15>2010 17:58 Apr 15, 2013 Jkt 229001 FEDERAL DEPOSIT INSURANCE CORPORATION Sunshine Act Meeting Pursuant to the provisions of the ‘‘Government in the Sunshine Act’’ (5 U.S.C. 552b), notice is hereby given that at 3:14 p.m. on Thursday, April 11, 2013, the Board of Directors of the Federal Deposit Insurance Corporation met in closed session to consider matters related to the Corporation’s supervision, corporate, and resolution activities. In calling the meeting, the Board determined, on motion of Vice Chairman Thomas M. Hoenig, seconded by Director Jeremiah O. Norton (Appointive), concurred in by Director Thomas J. Curry (Comptroller of the Currency), Director Richard Cordray (Director, Consumer Financial Protection Bureau), and Chairman Martin J. Gruenberg, that Corporation business required its consideration of the matters which were to be the subject of this meeting on less than seven days’ notice to the public; that no earlier notice of the meeting was practicable; that the public interest did not require consideration of the matters in a meeting open to public observation; and that the matters could be considered in a closed meeting by authority of subsections (c)(2), (c)(4), (c)(6), (c)(8), (c)(9)(A)(ii), (c)(9)(B), and (c)(10) of the ‘‘Government in the Sunshine Act’’ (5 U.S.C. 552b(c)(2), (c)(4), (c)(6), (c)(8), (c)(9)(A)(ii), (c)(9)(B), and (c)(10)). The meeting was held in the Board Room of the FDIC Building located at 550 17th Street NW., Washington, DC. Dated: April 11, 2013. Federal Deposit Insurance Corporation. Robert E. Feldman, Executive Secretary. [FR Doc. 2013–08988 Filed 4–12–13; 11:15 am] 22545 requires each agency to establish, in accordance with regulations prescribed by the Office of Personnel Management, one or more performance review boards. The board shall review and evaluate the initial appraisal of a senior executive’s performance by the supervisor, along with any recommendations to the appointing authority relative to the performance of the senior executive. Mario Cordero, Chairman. The Members of the Performance Review Board Are: 1. William P. Doyle, Commissioner 2. Rebecca F. Dye, Commissioner 3. Michael A. Khouri, Commissioner 4. Richard A. Lidinsky, Jr., Commissioner 5. Clay G. Guthridge, Administrative Law Judge 6. Erin M. Wirth, Administrative Law Judge 7. Florence A. Carr, Deputy Managing Director 8. Rebecca A. Fenneman, General Counsel 9. Karen V. Gregory, Secretary 10. Vern W. Hill, Director, Bureau of Certification and Licensing 11. Peter J. King, Director, Bureau of Enforcement 12. Sandra L. Kusumoto, Director, Bureau of Trade Analysis 13. Ronald D. Murphy, Managing Director 15. Austin L. Schmitt, Director, Strategic Planning and Regulatory Review [FR Doc. 2013–08871 Filed 4–15–13; 8:45 am] BILLING CODE P FEDERAL RESERVE SYSTEM Formations of, Acquisitions by, and Mergers of Savings and Loan Holding Companies BILLING CODE P FEDERAL MARITIME COMMISSION Performance Review Board Federal Maritime Commission. Notice. AGENCY: ACTION: SUMMARY: Notice is hereby given of the names of the members of the Performance Review Board. FOR FURTHER INFORMATION CONTACT: Harriette H. Charbonneau, Director of Human Resources, Federal Maritime Commission, 800 North Capitol Street NW., Washington, DC 20573. SUPPLEMENTARY INFORMATION: Sec. 4314(c)(1) through (5) of title 5, U.S.C., PO 00000 Frm 00035 Fmt 4703 Sfmt 4703 The companies listed in this notice have applied to the Board for approval, pursuant to the Home Owners’ Loan Act (12 U.S.C. 1461 et seq.) (HOLA), Regulation LL (12 CFR part 238), and Regulation MM (12 CFR part 239), and all other applicable statutes and regulations to become a savings and loan holding company and/or to acquire the assets or the ownership of, control of, or the power to vote shares of a savings association and nonbanking companies owned by the savings and loan 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 E:\FR\FM\16APN1.SGM 16APN1 22546 Federal Register / Vol. 78, No. 73 / Tuesday, April 16, 2013 / Notices indicated. The application 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 HOLA (12 U.S.C. 1467a(e)). 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 10(c)(4)(B) of the HOLA (12 U.S.C. 1467a(c)(4)(B)). 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 May 10, 2013. A. Federal Reserve Bank of Philadelphia (William Lang, Senior Vice President) 100 North 6th Street, Philadelphia, Pennsylvania 19105– 1521: 1. Employee Stock Ownership Plan of Cenlar Capital Corporation, Ewing, New Jersey; to become a savings and loan holding company by retaining up to 65 percent of the voting shares of Cenlar Capital Corporation, Ewing, New Jersey, and thereby retain voting shares of Cenlar Federal Savings Bank, Trenton, New Jersey. Board of Governors of the Federal Reserve System, April 11, 2013. Margaret McCloskey Shanks, Deputy Secretary of the Board. [FR Doc. 2013–08882 Filed 4–15–13; 8:45 am] BILLING CODE 6210–01–P FINANCIAL STABILITY OVERSIGHT COUNCIL Hearing Procedures Financial Stability Oversight Council. ACTION: Notice of availability; response to comments. mstockstill on DSK4VPTVN1PROD with NOTICES AGENCY: SUMMARY: The Financial Stability Oversight Council (Council) has adopted amendments to its hearing procedures (Council Hearing Procedures) for hearings conducted by the Council under Title I and Title VIII of the Dodd-Frank Wall Street Reform and Consumer Protection Act (DoddFrank Act). The Council initially approved hearing procedures on May 22, 2012 (Initial Hearing Procedures), and has adopted amendments to apply the procedures to financial institutions engaged in payment, clearing, or settlement activities that are the subject of a proposed designation by the VerDate Mar<15>2010 17:58 Apr 15, 2013 Jkt 229001 Council under Title VIII of the DoddFrank Act. DATES: Effective Date: April 4, 2013. FOR FURTHER INFORMATION CONTACT: Amias Gerety, Deputy Assistant Secretary for the Financial Stability Oversight Council, at (202) 622–8716; or Thomas E. Scanlon, Senior Counsel, Department of the Treasury, at (202) 622–8170. SUPPLEMENTARY INFORMATION: I. Background On May 22, 2012, the Council approved the Initial Hearing Procedures under sections 111, 113, 804, and 810 of the Dodd-Frank Act.1 The Initial Hearing Procedures related to the conduct of hearings before the Council in connection with proposed determinations and emergency waivers or modifications made pursuant to Title I and Title VIII of the Dodd-Frank Act. The Council posted the Initial Hearing Procedures on its Web site, http:// www.fsoc.gov, and on http:// www.regulations.gov, and issued a notice of availability and request for comment on the procedures.2 Four comments were submitted.3 In general, when the Council makes a proposed determination regarding a nonbank financial company under section 113 of the Dodd-Frank Act or a proposed designation of a financial market utility (FMU) or a payment, clearing, or settlement activity under section 804 of the Dodd-Frank Act, the Council must give the nonbank financial company, FMU, or financial institution engaged in the payment, clearing, or settlement activity notice and an opportunity to contest the proposed determination or designation through a hearing.4 The Dodd-Frank Act does not set forth procedures for a hearing to contest the proposed determinations or designations. The Council has adopted the Council Hearing Procedures in order to provide procedures for a nonbank financial company, FMU, or financial institution engaged in a payment, clearing, or settlement activity that requests a hearing. Except for limited amendments, particularly to expand the scope of ‘‘petitioner’’ to include a financial institution engaged in payment, clearing, or settlement activities, as discussed below, the Council is not 1 12 U.S.C. 5321, 5323, 5463, and 5469. Procedures; Notice of Availability, 77 FR 31,855 (May 30, 2012). 3 Comments were received from American Financial Services Association (AFSA), American Insurance Association (AIA), Gibson, Dunn & Crutcher LLP (Gibson, Dunn), and The Financial Services Roundtable (the Roundtable). 4 12 U.S.C. 5323(e)(1)–(2), 5463(c)(2). 2 Hearing PO 00000 Frm 00036 Fmt 4703 Sfmt 4703 modifying the Initial Hearing Procedures. The Council is issuing this notice to respond to the comments received and to provide guidance on the implementation of the Council Hearing Procedures. In addition, the Council has posted the Council Hearing Procedures on its Web site, http://www.fsoc.gov, and on http://www.regulations.gov. II. Amendment to the Initial Hearing Procedures The Council has expanded the scope of the hearing procedures by amending the definition of ‘‘petitioner’’ in § 2 of the Initial Hearing Procedures. The Council is adding a new paragraph (5) to the definition of ‘‘petitioner’’ to include ‘‘[a] financial institution which engages in a payment, clearing, or settlement activity that is the subject of a proposed designation, pursuant to section 804 of the Dodd-Frank Act, and which seeks to demonstrate that the proposed designation or rescission of designation is not supported by substantial evidence.’’ Correspondingly, the Council is amending the definition of ‘‘hearing’’ to cover a proceeding involving a financial institution which engages in a payment, clearing, or settlement activity. Under section 804(a)(1) of the Dodd-Frank Act, the Council is authorized to designate ‘‘payment, clearing, or settlement activities that the Council determines are, or are likely to become, systemically important.’’ 5 Section 804(c) of the Dodd-Frank Act permits a financial institution engaged in payment, clearing, or settlement activities to request a hearing before the Council to demonstrate that the proposed designation (or rescission of designation) of such activities is not supported by substantial evidence.6 The amendments to the Initial Hearing Procedures clarify that if the Council issues a notice of a proposed designation relating to a payment, clearing, or settlement activity, one or more financial institutions that engage in that activity may request a hearing to contest the Council’s action. In addition, the Council has amended § 5(e) of the Initial Hearing Procedures to provide that petitioners will be entitled, upon request, to obtain a copy of the transcript or other recording of an oral hearing without payment of the cost of the transcript or recording. 5 12 6 12 E:\FR\FM\16APN1.SGM U.S.C. 5463(a)(1). U.S.C. 5463(c)(2)(C). 16APN1

Agencies

[Federal Register Volume 78, Number 73 (Tuesday, April 16, 2013)]
[Notices]
[Pages 22545-22546]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2013-08882]


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FEDERAL RESERVE SYSTEM


Formations of, Acquisitions by, and Mergers of Savings and Loan 
Holding Companies

    The companies listed in this notice have applied to the Board for 
approval, pursuant to the Home Owners' Loan Act (12 U.S.C. 1461 et 
seq.) (HOLA), Regulation LL (12 CFR part 238), and Regulation MM (12 
CFR part 239), and all other applicable statutes and regulations to 
become a savings and loan holding company and/or to acquire the assets 
or the ownership of, control of, or the power to vote shares of a 
savings association and nonbanking companies owned by the savings and 
loan 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

[[Page 22546]]

indicated. The application 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 HOLA (12 U.S.C. 
1467a(e)). 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 
10(c)(4)(B) of the HOLA (12 U.S.C. 1467a(c)(4)(B)). 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 May 10, 2013.
    A. Federal Reserve Bank of Philadelphia (William Lang, Senior Vice 
President) 100 North 6th Street, Philadelphia, Pennsylvania 19105-1521:
    1. Employee Stock Ownership Plan of Cenlar Capital Corporation, 
Ewing, New Jersey; to become a savings and loan holding company by 
retaining up to 65 percent of the voting shares of Cenlar Capital 
Corporation, Ewing, New Jersey, and thereby retain voting shares of 
Cenlar Federal Savings Bank, Trenton, New Jersey.

    Board of Governors of the Federal Reserve System, April 11, 
2013.
Margaret McCloskey Shanks,
Deputy Secretary of the Board.
[FR Doc. 2013-08882 Filed 4-15-13; 8:45 am]
BILLING CODE 6210-01-P