Sunshine Act Meeting, 23251 [2013-09245]
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Federal Register / Vol. 78, No. 75 / Thursday, April 18, 2013 / Notices
levels of risk in the remaining
association direct notes. Moreover,
because the bank loses a significant
source of revenue and capital, it might
not be able to increase the cost of funds
to the remaining associations to make
up for lost revenue while
simultaneously increasing their
investment requirement to remain
adequately capitalized. Without
providing assistance to the sizable
troubled association to prevent financial
contagion, other associations could fail
or the bank itself could fail, potentially
creating losses to the Insurance Fund. A
similar scenario could result with the
failure of several smaller associations
during a period of severe stress in
agriculture. A temporary cash infusion
to the bank could counteract the effects
of financial contagion, stabilize the
district, and help avoid a bank failure.
The Corporation would consider
structuring assistance so that it would
recoup the cost associated with
providing assistance. Therefore, if
indirect losses can be reasonably
estimated, the Corporation may consider
such losses in its least-cost test and
assistance determination.
The third step of the least-cost test is
to determine the type and amount of
assistance. The cost of providing
assistance will depend upon the
structure of the assistance. For example,
the Corporation’s purchase of distressed
assets from a troubled System
institution may cost the Insurance Fund
more than providing the institution a
loan with a repayment plan.27
Moreover, if other System institutions
are willing to contribute some of their
funds to the troubled System institution
to reduce the cost of providing
assistance, the Corporation will factor
this amount into its least-cost test and
assistance determination.
The final step in the least-cost test is
to compare the cost of liquidation to the
cost of providing assistance. If the cost
of providing assistance from the
Insurance Fund is less than the cost of
liquidating a troubled System
institution (to the Insurance Fund), the
Corporation’s Board of Directors, in its
discretion, may approve assistance to
the troubled System institution. As
required by statute, the Corporation
shall use the information it receives
during its least-cost determination to
evaluate the alternatives, document the
evaluation and the assumptions on
which the evaluation is based, and
retain the documentation for not less
than 5 years.
Matters concerning participation in civil
actions or proceedings or arbitration
Internal personnel rules and procedures
or matters affecting a particular
employee
*
*
*
*
*
PERSON TO CONTACT FOR INFORMATION:
Judith Ingram, Press Officer. Telephone:
(202) 694–1220.
Assistance Agreements
Shelley E. Garr,
Deputy Secretary of the Commission.
If the Corporation provides assistance,
it will enter into an agreement with the
System institution receiving assistance.
The terms and conditions of the
agreement will be determined on a caseby-case basis and may include limits on
(or prior approval of) the types or
amounts of activities the institution can
engage in while assistance is
outstanding. For example, assistance
agreements might include repayment
terms and limits on concentration risk,
patronage and dividend payments,
executive compensation, and certain
types of expenses. Assistance
agreements may also provide the
Corporation the right to have a
representative attend the institution’s
board meetings. Each assistance
agreement will be subject to the
Corporation’s Board of Directors’
approval. While assistance agreements
are outstanding, the Corporation will
use its examination authority to ensure
compliance with the agreement.
Moreover, the Corporation will require
the System institution receiving
assistance to certify and publicly
disclose compliance with the agreement
requirements, including the disclosure
of any instances of material
noncompliance with the agreement.
Dated: April 12, 2013.
Mary Alice Donner,
Acting Secretary to the Board, Farm Credit
System Insurance Corporation.
[FR Doc. 2013–09165 Filed 4–17–13; 8:45 am]
BILLING CODE 6710–01–P
FEDERAL ELECTION COMMISSION
Sunshine Act Meeting
Federal Election Commission.
& TIME: Tuesday, April 23, 2013 at
10:00 a.m.
PLACE: 999 E Street NW., Washington,
DC.
STATUS: This meeting will be closed to
the public.
ITEMS TO BE DISCUSSED:
Compliance matters pursuant to 2
U.S.C. 437g
Audits conducted pursuant to 2 U.S.C.
437g, 438(b), and Title 26, U.S.C.
AGENCY:
sroberts on DSK5SPTVN1PROD with NOTICES
27 In
the event the Corporation exercises its
discretion to provide assistance, in most cases
assistance would be provided to the funding bank,
regardless of whether the troubled System
institution is a bank or an association. For example,
the Corporation may provide the funding bank a
collateralized loan, purchase subordinated debt
from the funding bank, or enter into a loss-sharing
agreement with the funding bank to either restore
the funding bank or its affiliated association (or
both) to normal operations. If the assistance can be
structured with a repayment feature, it is likely to
be the least costly means of providing assistance of
all possible alternatives available to the
Corporation.
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[FR Doc. 2013–09245 Filed 4–16–13; 4:15 pm]
BILLING CODE P
FEDERAL MARITIME COMMISSION
Notice of Agreements Filed
The Commission hereby gives notice
of the filing of the following agreements
under the Shipping Act of 1984.
Interested parties may submit comments
on the agreements to the Secretary,
Federal Maritime Commission,
Washington, DC 20573, within ten days
of the date this notice appears in the
Federal Register. Copies of the
agreements are available through the
Commission’s Web site (www.fmc.gov)
or by contacting the Office of
Agreements at (202)–523–5793 or
tradeanalysis@fmc.gov.
Agreement No.: 010979–054.
Title: Caribbean Shipowners
Association.
Parties: CMA CGM, S.A.; Seaboard
Marine, Ltd.; Seafreight Line, Ltd.;
Tropical Shipping and Construction
Company Limited; and Zim Integrated
Shipping Services, Ltd.
Filing Party: Wayne R. Rohde, Esq.;
Cozen O’Connor, 1627 I Street NW.,
Washington, DC 20006.
Synopsis: The amendment would add
King Ocean Services Limited as a party
to the agreement.
Agreement No.: 012204.
Title: ELJSA/Hanjin Shipping Slot
Exchange Agreement.
Parties: Evergreen Line Joint Service
Agreement and Hanjin Shipping.
Filing Party: Paul M. Keane, Esq.;
Cichanowicz, Callan, Keane, Vengrow &
Textor, LLP; 61 Broadway, Suite 3000,
New York, NY 10006–2802
Synopsis: The agreement authorizes
the parties to exchange space on each
other’s services in the trade between
China, Taiwan, and Vietnam, on the one
hand, and the U.S. West Coast, on the
other hand.
Agreement No.: 012205.
Title: ELJSA/COSCON Slot Exchange
Agreement.
Parties: Evergreen Line Joint Service
Agreement and Cosco Container Lines
Company Limited.
E:\FR\FM\18APN1.SGM
18APN1
]]>Agencies
[Federal Register Volume 78, Number 75 (Thursday, April 18, 2013)]
[Notices]
[Page 23251]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2013-09245]
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FEDERAL ELECTION COMMISSION
Sunshine Act Meeting
AGENCY: Federal Election Commission.
DATE & TIME: Tuesday, April 23, 2013 at 10:00 a.m.
PLACE: 999 E Street NW., Washington, DC.
STATUS: This meeting will be closed to the public.
ITEMS TO BE DISCUSSED:
Compliance matters pursuant to 2 U.S.C. 437g
Audits conducted pursuant to 2 U.S.C. 437g, 438(b), and Title 26,
U.S.C.
Matters concerning participation in civil actions or proceedings or
arbitration
Internal personnel rules and procedures or matters affecting a
particular employee
* * * * *
PERSON TO CONTACT FOR INFORMATION: Judith Ingram, Press Officer.
Telephone: (202) 694-1220.
Shelley E. Garr,
Deputy Secretary of the Commission.
[FR Doc. 2013-09245 Filed 4-16-13; 4:15 pm]
BILLING CODE P
