Change in Bank Control Notices; Acquisitions of Shares of a Bank or Bank Holding Company, 25273 [2013-10115]

Download as PDF Federal Register / Vol. 78, No. 83 / Tuesday, April 30, 2013 / Notices pmangrum on DSK3VPTVN1PROD with NOTICES compliance management system should ensure continuing compliance with applicable federal and state laws, rules and regulations, as well as internal policies and procedures. Banks should maintain adequate oversight of deposit advance programs and adequate quality control over those products and services to minimize exposure to potential significant financial loss, reputation damage, and supervisory action. Management should provide the appropriate oversight and allocate sufficient qualified staff to monitor deposit advance programs. Results of oversight activities should be reported periodically to the financial institution’s board of directors or designated committee, including identified weaknesses, which should be documented and promptly addressed. Third-Party Relationships: Because third-party relationships are important in assessing a bank’s overall risk profile, the FDIC’s primary supervisory concern in reviewing a bank’s relationships with third parties is whether the bank is assuming more risk than it can identify, monitor, and manage. Management should allocate sufficient qualified staff to monitor for significant third-party relationships, excessive usage by borrowers, and excessive risk taking by the bank. Therefore, examiners will review the risks associated with all material third-party relationships and activities together with other bank risks. In certain high risk situations, examiners may conduct on-site thirdparty reviews under specific authorities granted to the FDIC. Responsible Products To Meet SmallDollar Credit Needs The FDIC recognizes the need for responsible small-dollar credit products among consumers. A number of banks are currently offering reasonably priced small-dollar loans at reasonable terms to their customers. The FDIC’s 2007 Affordable Small-Dollar Loan Guidelines (Guidelines) encourage insured institutions to offer small-dollar loan products that have affordable, reasonable interest rates with no or low fees and payments that reduce the principal balance of the loan.23 The Guidelines indicate that if structured properly, small-dollar loans can provide a safe and affordable means for borrowers to transition away from reliance on high-cost debt products. The FDIC conducted a two-year case study from 2007 to 2009 that demonstrated that safe and affordable small-dollar 23 See FDIC Financial Institutions Letter FIL–50– 2007, ‘‘Affordable Small-Dollar Loan Guidelines,’’ (June 19, 2007). VerDate Mar<15>2010 13:22 Apr 29, 2013 Jkt 229001 lending is feasible for banks and resulted in a template of important elements for such lending.24 The FDIC encourages banks to continue to offer these products, consistent with safety and soundness and other supervisory considerations, and encourages other banks to consider offering such products as well. Properly managed small-dollar loan products offered with reasonable terms and at a reasonable cost do not pose the same level of supervisory risk as deposit advance products. Dated at Washington, DC, this 25th day of April, 2013. Federal Deposit Insurance Corporation. Robert E. Feldman, Executive Secretary. 25273 proposed co-trustee; to acquire voting shares of the First State Bank Southwest 2010 Amended and Restated KSOP Plan and Trust, and thereby indirectly acquire voting shares of First Rushmore Bancorporation, Inc., Worthington, Minnesota, and First State Bank Southwest, Pipestone, Minnesota. Board of Governors of the Federal Reserve System, April 25, 2013. Margaret McCloskey Shanks, Deputy Secretary of the Board. [FR Doc. 2013–10115 Filed 4–29–13; 8:45 am] BILLING CODE 6210–01–P DEPARTMENT OF HEALTH AND HUMAN SERVICES [FR Doc. 2013–10101 Filed 4–29–13; 8:45 am] BILLING CODE 6714–01–P FEDERAL RESERVE SYSTEM Change in Bank Control Notices; Acquisitions of Shares of a Bank or Bank Holding Company The notificants listed below have applied under the Change in Bank Control Act (12 U.S.C. 1817(j)) and § 225.41 of the Board’s Regulation Y (12 CFR 225.41) to acquire shares of a bank or bank holding company. The factors that are considered in acting on the notices are set forth in paragraph 7 of the Act (12 U.S.C. 1817(j)(7)). The notices are available for immediate inspection at the Federal Reserve Bank indicated. The notices also will be available for inspection at the offices of the Board of Governors. Interested persons may express their views in writing to the Reserve Bank indicated for that notice or to the offices of the Board of Governors. Comments must be received not later than May 15, 2013. A. Federal Reserve Bank of Atlanta (Chapelle Davis, Assistant Vice President) 1000 Peachtree Street NE., Atlanta, Georgia 30309: 1. Harvey Alan Sorkin, Palm Beach Gardens, Florida; to acquire at least 10 percent of the voting shares of Floridian Community Holdings, Inc., and thereby indirectly acquire voting shares of Floridian Community Bank, Inc., both of Davie, Florida. B. Federal Reserve Bank of Minneapolis (Jacqueline G. King, Community Affairs Officer) 90 Hennepin Avenue, Minneapolis, Minnesota 55480–0291: 1. Connie Jean Lonneman, Adrian, Minnesota, individually and as 24 FDIC, ‘‘FDIC Model Safe Accounts Pilot Final Report’’, (April 2012). PO 00000 Frm 00022 Fmt 4703 Sfmt 4703 Determination and Declaration Regarding Emergency Use of in Vitro Diagnostics for Detection of the Avian Influenza A (H7N9) Virus Office of the Secretary, Department of Health and Human Services. ACTION: Notice. AGENCY: SUMMARY: The Secretary of Health and Human Services (HHS) is issuing this notice pursuant to section 564(b) of the Federal Food, Drug, and Cosmetic (FD&C) Act, 21 U.S.C. 360bbb–3(b)(4). On April 19, 2013, the Secretary determined that there is a significant potential for a public health emergency that has a significant potential to affect national security or the health and security of United States citizens living abroad and that involves the avian influenza A (H7N9) virus. On the basis of this determination, she also declared that circumstances exist justifying the authorization of emergency use of in vitro diagnostics for detection of the avian influenza A (H7N9) virus pursuant to section 564(b)(1) of the FD&C Act, 21 U.S.C. § 360bbb–3(b)(1), subject to the terms of any authorization issued under that section. The Secretary also specified that this declaration is a declaration of an emergency with respect to in vitro diagnostics as defined under the Public Readiness and Emergency Preparedness (PREP) Act Declaration for Pandemic Influenza Diagnostics, Personal Respiratory Protection Devices, and Respiratory Support Devices signed by then Secretary Michael Leavitt on December 17, 2008.1 DATES: The determination and declaration are effective April 19, 2013. FOR FURTHER INFORMATION CONTACT: Nicole Lurie, M.D., MSPH, Assistant 1 73 E:\FR\FM\30APN1.SGM FR 78362 (Dec. 22, 2008). 30APN1

Agencies

[Federal Register Volume 78, Number 83 (Tuesday, April 30, 2013)]
[Notices]
[Page 25273]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2013-10115]


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FEDERAL RESERVE SYSTEM


Change in Bank Control Notices; Acquisitions of Shares of a Bank 
or Bank Holding Company

    The notificants listed below have applied under the Change in Bank 
Control Act (12 U.S.C. 1817(j)) and Sec.  225.41 of the Board's 
Regulation Y (12 CFR 225.41) to acquire shares of a bank or bank 
holding company. The factors that are considered in acting on the 
notices are set forth in paragraph 7 of the Act (12 U.S.C. 1817(j)(7)).
    The notices are available for immediate inspection at the Federal 
Reserve Bank indicated. The notices also will be available for 
inspection at the offices of the Board of Governors. Interested persons 
may express their views in writing to the Reserve Bank indicated for 
that notice or to the offices of the Board of Governors. Comments must 
be received not later than May 15, 2013.
    A. Federal Reserve Bank of Atlanta (Chapelle Davis, Assistant Vice 
President) 1000 Peachtree Street NE., Atlanta, Georgia 30309:
    1. Harvey Alan Sorkin, Palm Beach Gardens, Florida; to acquire at 
least 10 percent of the voting shares of Floridian Community Holdings, 
Inc., and thereby indirectly acquire voting shares of Floridian 
Community Bank, Inc., both of Davie, Florida.
    B. Federal Reserve Bank of Minneapolis (Jacqueline G. King, 
Community Affairs Officer) 90 Hennepin Avenue, Minneapolis, Minnesota 
55480-0291:
    1. Connie Jean Lonneman, Adrian, Minnesota, individually and as 
proposed co-trustee; to acquire voting shares of the First State Bank 
Southwest 2010 Amended and Restated KSOP Plan and Trust, and thereby 
indirectly acquire voting shares of First Rushmore Bancorporation, 
Inc., Worthington, Minnesota, and First State Bank Southwest, 
Pipestone, Minnesota.

    Board of Governors of the Federal Reserve System, April 25, 
2013.
Margaret McCloskey Shanks,
Deputy Secretary of the Board.
[FR Doc. 2013-10115 Filed 4-29-13; 8:45 am]
BILLING CODE 6210-01-P