Change in Bank Control Notices; Formations of, Acquisitions by, and Mergers of Bank Holding Companies; Correction, 62633 [2013-24619]

Download as PDF Federal Register / Vol. 78, No. 204 / Tuesday, October 22, 2013 / Notices • Email: comments@fdic.gov Include the name of the collection in the subject line of the message. • Mail: Leneta G. Gregorie (202–898– 3719), Counsel, Room NYA–5050, Federal Deposit Insurance Corporation, 550 17th Street NW., Washington, DC 20429. • Hand Delivery: Comments may be hand-delivered to the guard station at the rear of the 17th Street Building (located on F Street), on business days between 7:00 a.m. and 5:00 p.m. All comments should refer to the relevant OMB control number. A copy of the comments may also be submitted to the OMB desk officer for the FDIC: Office of Information and Regulatory Affairs, Office of Management and Budget, New Executive Office Building, Washington, DC 20503. FOR FURTHER INFORMATION CONTACT: Leneta Gregorie, at the FDIC address above. Proposal to renew the following currently approved collections of information: Title: Guidance on Sound Incentive Compensation Practices. OMB Number: 3064–0175. Frequency of Response: Implementation—once; maintenance— annual. Affected Public: Insured state nonmember banks. Estimated Number of Respondents: 4890 (20 large banks, 4870 small banks). Estimated Time per Response: Implementation—80 hours, small banks and; 480 hours, large banks; maintenance—40 hours, all banks. Total Annual Burden: 594,800 hours (one-time implementation—399,200 hours; ongoing maintenance—195,600). General Description of Collection: The Guidance on Sound Incentive Compensation Practices helps ensure that incentive compensation policies at insured state non-member banks do not encourage excessive risk-taking and are consistent with the safety and soundness of the organization. Under the Guidance, banks are required to: (i) Have policies and procedures that identify and describe the role(s) of the personnel and units authorized to be involved in incentive compensation arrangements, identify the source of significant risk-related inputs, establish appropriate controls governing these inputs to help ensure their integrity, and identify the individual(s) and unit(s) whose approval is necessary for the establishment or modification of incentive compensation arrangements; (ii) create and maintain sufficient documentation to permit an audit of the organization’s processes for incentive sroberts on DSK5SPTVN1PROD with FRONT MATTER SUPPLEMENTARY INFORMATION: VerDate Mar<15>2010 21:08 Oct 21, 2013 Jkt 232001 compensation arrangements; (iii) have any material exceptions or adjustments to the incentive compensation arrangements established for senior executives approved and documented by its board of directors; and (iv) have its board of directors receive and review, on an annual or more frequent basis operation of the organization’s incentive compensation system in providing risk-taking incentives that are consistent with the organization’s safety and soundness. Request for Comment Comments are invited on: (a) Whether the collection of information is necessary for the proper performance of the FDIC’s functions, including whether the information has practical utility; (b) the accuracy of the estimates 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 October 2013. Federal Deposit Insurance Corporation. Robert E. Feldman, Executive Secretary. [FR Doc. 2013–24533 Filed 10–21–13; 8:45 am] BILLING CODE P FEDERAL DEPOSIT INSURANCE CORPORATION Designated Reserve Ratio for 2014 Federal Deposit Insurance Corporation (FDIC). ACTION: Notice of Designated Reserve Ratio for 2014. AGENCY: Pursuant to the Federal Deposit Insurance Act, the Board of Directors of the Federal Deposit Insurance Corporation designates that the Designated Reserve Ratio (DRR) for the Deposit Insurance Fund shall remain at 2 percent for 2014.1 The Board is publishing this notice as required by section 7(b)(3)(A)(i) of the Federal Deposit Insurance Act (12 U.S.C. 1817(b)(3)(A)(i)). FOR FURTHER INFORMATION CONTACT: Munsell St. Clair, Chief, Banking and 1 Section 327.4(g) of the FDIC’s regulations sets forth the DRR. There is no need to amend this provision, because the DRR for 2014 is the same as the current DRR. PO 00000 Frm 00051 Fmt 4703 Sfmt 4703 62633 Regulatory Policy Section, Division of Insurance and Research, (202) 898– 8967; or, Christopher Bellotto, Counsel, Legal Division, (202) 898–3801. Dated at Washington, DC, this 8th day of October 2013. By order of the Board of Directors. Robert E. Feldman, Executive Secretary. [FR Doc. 2013–24531 Filed 10–21–13; 8:45 am] BILLING CODE 6714–01–P FEDERAL RESERVE SYSTEM Change in Bank Control Notices; Formations of, Acquisitions by, and Mergers of Bank Holding Companies; Correction This notice corrects a notice (FR Doc. 2013–24477) published on page 62333 of the issue for Thursday, October 17, 2013. Under the Federal Reserve Bank of Minneapolis heading, the entry for Karen Neidhardt, Tampa, Florida, is revised to read as follows: A Federal Reserve Bank of Minneapolis (Jacqueline G. King, Community Affairs Officer) 90 Hennepin Avenue, Minneapolis, Minnesota 55480–0291: 1. Karen Neidhardt, Tampa, Florida, individually and as trustee, to retain voting shares and thereby control Jorgenson Holding Company, Inc., and thereby indirectly retain voting shares and control State Bank and Trust of Kenmare, both in Kenmare, North Dakota, and The Citizens State Bank at Mohall, Mohall, North Dakota. In addition, Ann Lenore Musser Irrevocable Trust, Kenmare, North Dakota, Karen Neidhardt and Jane Neidhardt Farris, co-trustees, and Jane Ellen Neidhardt Irrevocable Trust, all of Kenmare, North Dakota, Karen Neidhardt and Ann N. Musser, cotrustees, to retain voting shares of Jorgenson Holding Company and thereby join the Jorgenson family group. Comments on this application must be received by October 31. 2013. Board of Governors of the Federal Reserve System, October 17, 2013. Margaret McCloskey Shanks, Deputy Secretary of the Board. [FR Doc. 2013–24619 Filed 10–21–13; 8:45 am] BILLING CODE 6210–01–P 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, E:\FR\FM\22OCN1.SGM 22OCN1

Agencies

[Federal Register Volume 78, Number 204 (Tuesday, October 22, 2013)]
[Notices]
[Page 62633]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2013-24619]


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FEDERAL RESERVE SYSTEM


Change in Bank Control Notices; Formations of, Acquisitions by, 
and Mergers of Bank Holding Companies; Correction

    This notice corrects a notice (FR Doc. 2013-24477) published on 
page 62333 of the issue for Thursday, October 17, 2013.
    Under the Federal Reserve Bank of Minneapolis heading, the entry 
for Karen Neidhardt, Tampa, Florida, is revised to read as follows:
    A Federal Reserve Bank of Minneapolis (Jacqueline G. King, 
Community Affairs Officer) 90 Hennepin Avenue, Minneapolis, Minnesota 
55480-0291:
    1. Karen Neidhardt, Tampa, Florida, individually and as trustee, to 
retain voting shares and thereby control Jorgenson Holding Company, 
Inc., and thereby indirectly retain voting shares and control State 
Bank and Trust of Kenmare, both in Kenmare, North Dakota, and The 
Citizens State Bank at Mohall, Mohall, North Dakota.
    In addition, Ann Lenore Musser Irrevocable Trust, Kenmare, North 
Dakota, Karen Neidhardt and Jane Neidhardt Farris, co-trustees, and 
Jane Ellen Neidhardt Irrevocable Trust, all of Kenmare, North Dakota, 
Karen Neidhardt and Ann N. Musser, co-trustees, to retain voting shares 
of Jorgenson Holding Company and thereby join the Jorgenson family 
group.
    Comments on this application must be received by October 31. 2013.

    Board of Governors of the Federal Reserve System, October 17, 
2013.
Margaret McCloskey Shanks,
Deputy Secretary of the Board.
[FR Doc. 2013-24619 Filed 10-21-13; 8:45 am]
BILLING CODE 6210-01-P
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