Change in Bank Control Notices; Acquisitions of Shares of a Bank or Bank Holding Company, 48167-48168 [2014-19375]

Download as PDF emcdonald on DSK67QTVN1PROD with NOTICES Federal Register / Vol. 79, No. 158 / Friday, August 15, 2014 / Notices The proposed instructions for the FR 2052b definition state that ‘‘the market value can be interpreted as the book value less a haircut for the sale.’’ The Federal Reserve modified the FR 2052b definition to note that the haircut applied to loans and leases can be a based on readily available market-based metrics for the general asset type. For example, publicly available loan and lease haircuts provided by the FHLB or Discount Window could be used as a benchmark as a reasonable estimate. The expectation is not that a bank’s entire loan book be valued and included in section 4, rather, that reporting be limited to those assets targeted for potential monetization within a 90-day period, under normal market conditions. One commenter requested clarification regarding the method required to calculate the lendable value of unencumbered securities (items 3.1 through 3.9) in the FR 2052b. The commenter has noted that determining the ‘‘Lendable value’’ would be dependent upon the source providing liquidity for the security. The Federal Reserve believes that some judgment is involved as assets can be utilized in multiple different markets. Lendable value should be a combination of the market value less applicable ‘haircuts.’ Haircuts should consider factors such as liquidity, credit and market risks of the securities, firm specific sources available for securitized borrowing, current market haircuts and firm specific factors which may decrease or increase current market haircuts. Two commenters noted that it is impractical for mid-sized banks to report pricing on unsecured funding issued and outstanding such that banks would report pricing on that debt over its life through maturity (section 21 of the FR 2052b). One of these commenters recommended that the requirement for banks with total consolidated assets less than $50 billion to provide a funding curve be eliminated. Another commenter recommended that this section ask for indications for unsecured wholesale term debt transactions only. The Federal Reserve recognizes the challenges of calculating weighted average funding in a wide time horizon (section 20 of the FR 2052b) and has modified the maturity bucket in the unsecured funding pricing section to 5 years. Other Items Two commenters noted that it is not easy for institutions with assets between $10 billion and $50 billion to segregate the categories of retail, Small and Medium Enterprises (SME), financial VerDate Mar<15>2010 17:31 Aug 14, 2014 Jkt 232001 institution, and non-financial institution, and requested confirmation that reasonable segmentation approaches would be sufficient for these institutions (section 10 of the FR 2052b). One of these commenters also noted that the requirement to identify stable versus less stable deposits may require data not widely available at institutions of this size. A commenter requested that this flexibility be included in the instructions for mid-sized institutions as it could reduce implementation expense. The commenter recommended that these mid-sized banks be allowed to satisfy the requirements on a best efforts basis through reasonable use of their existing deposit product and existing line of business or segment reporting definitions without the penalty of defaulting to the worst category. The commenter also requested clarification of the meaning of interest in the category of ‘‘term deposits with a withdrawal penalty greater than loss of interest’’ and recommended that a more comprehensive definition of the withdrawal penalty criteria be provided. The Federal Reserve notes that some sections and data items in the proposed FR 2052b are not collected through the current version of the Large and Regional Institutions Liquidity Monitoring Report, such as ‘‘Deposit Balances’’ and ‘‘Undrawn Commitments and Contingent Liquidity Needs.’’ Therefore, as mentioned above, the Federal Reserve is temporarily exempting FR 2052b filers from reporting most of the ‘‘Deposit Balances’’ and the entire ‘‘Undrawn Commitments and Contingent Liquidity Needs’’ sections 12 until the proposed LCR is finalized, at which time the Federal Reserve anticipates the FR 2052b instructions for these data items would be proposed for modification to closely align with a final LCR rule. One commenter noted that banks with less than $50 billion in total consolidated assets may not have an existing reporting infrastructure to measure the segregations of unfunded commitments precisely as defined (section 12 of the FR 2052b). The Federal Reserve observes that the proposed definitions in the FR 2052b did not explicitly address the case of comingled facility types. The commenter recommended that the FR 2052 reporting forms, proposed LCR and other liquidity-related regulations share an equivalent and more detailed definition of liquidity facility. The commenter recommended that the 12 FR 2052b filers will not be required fill out items 10.1 through 10.3, and items 12.1 through 12.5 at this time. PO 00000 Frm 00056 Fmt 4703 Sfmt 4703 48167 Federal Reserve avoid encouraging a blending of liquidity and credit facilities into a single facility categorization. The commenter also recommended that the Federal Reserve allow flexibility for mid-sized organizations in reporting SME versus commercial. This commenter requested that mid-sized organizations be permitted to use a manual tracking process or be provided upfront investment in training and infrastructure to track the exposures by category. Another commenter noted that undrawn credit facilities and undrawn liquidity facilities are not mutually exclusive product categories provided to clients and that it may be impossible to distinguish between them (section 12 of the FR 2052b). The commenter requested that the Federal Reserve provide further guidance on undrawn commitment segmentation and also allow permit the institutions the flexibility to categorize commitments based on either existing line of business segmentation or existing data at that institution. The Federal Reserve agrees with the comments and, as mentioned above, is temporarily exempting FR 2052b filers from reporting the entire ‘‘Undrawn Commitments and Contingent Liquidity Needs’’ section until the proposed LCR is finalized, at which time the Federal Reserve anticipates that modification of the FR 2052b instructions for these data items would be proposed to closely align with a final LCR rule. Board of Governors of the Federal Reserve System, August 11, 2014. Robert deV. Frierson, Secretary of the Board. [FR Doc. 2014–19323 Filed 8–14–14; 8:45 am] BILLING CODE 6210–01–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 E:\FR\FM\15AUN1.SGM 15AUN1 48168 Federal Register / Vol. 79, No. 158 / Friday, August 15, 2014 / Notices of the Board of Governors. Comments must be received not later than September 2, 2014. A. Federal Reserve Bank of Chicago (Colette A. Fried, Assistant Vice President) 230 South LaSalle Street, Chicago, Illinois 60690–1414: 1. Kimberly L. Johnson, Naples, Florida, as co-trustee of the RFS 2010 Irrevocable Trust F/B/O Ralph C. Stayer, together with Lisa M. Reilly, Naples, Florida, as the co-trustee of the Shelly A. Stayer 2010 Childrens Trust, to be added to the Stayer Family Control Group; to acquire voting shares of Hometown Bancorp, Ltd., and indirectly acquire voting shares of Hometown Bank, both in Fond du Lac, Wisconsin. Board of Governors of the Federal Reserve System, August 12, 2014. Michael J. Lewandowski, Associate Secretary of the Board. [FR Doc. 2014–19375 Filed 8–14–14; 8:45 am] BILLING CODE 6210–01–P FEDERAL RESERVE SYSTEM emcdonald on DSK67QTVN1PROD with NOTICES Change in Bank Control Notices; Acquisitions of Shares of a Savings and Loan Holding Company The notificants listed below have applied under the Change in Bank Control Act (12 U.S.C. 1817(j)) and the Board’s Regulation LL (12 CFR part 238) to acquire shares of a savings and loan 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 September 2, 2014. A. Federal Reserve Bank of Kansas City (Dennis Denney, Assistant Vice President), 1 Memorial Drive, Kansas City, Missouri 64198–0001: 1. Charles T. Wittwer, Colorado Springs, Colorado; to acquire voting shares of Grand Mountain Bancshares, Inc., and thereby indirectly acquire voting shares of Grand Mountain Bank, FSB, both in Granby, Colorado. Board of Governors of the Federal Reserve System, August 12, 2014. Michael J. Lewandowski, Associate Secretary of the Board. [FR Doc. 2014–19376 Filed 8–14–14; 8:45 am] BILLING CODE 6210–01–P VerDate Mar<15>2010 17:31 Aug 14, 2014 Jkt 232001 GENERAL SERVICES ADMINISTRATION [Notice-FTR–2014–06; Docket No. 2014– 0002; Sequence 29] Maximum Per Diem Rates for the Continental United States (CONUS) Office of Government-wide Policy (OGP), General Services Administration (GSA). ACTION: Notice of GSA Per Diem Bulletin FTR 15–01, Fiscal Year (FY) 2015 Continental United States (CONUS) per diem rates. AGENCY: The General Services Administration’s (GSA) Fiscal Year (FY) 2015 per diem review has resulted in lodging and meal allowance changes for certain locations within the Continental United States (CONUS) to provide for reimbursement of Federal employees’ expenses covered by per diem. DATES: Effective: August 15, 2014. Applicability: This notice applies to travel performed on or after October 1, 2014 through September 30, 2015. FOR FURTHER INFORMATION CONTACT: For clarification of content, contact Ms. Jill Denning, Office of Government-wide Policy, Office of Asset and Transportation Management, at 202– 208–7642, or by email at travelpolicy@ gsa.gov. Please cite Notice of GSA Per Diem Bulletin FTR 15–01. SUPPLEMENTARY INFORMATION: Background: GSA identified two new non-standard areas (NSAs): Kayenta, AZ (Navajo County), and San Angelo, TX (Tom Green County). Elmore County, ID is now included with the Sun Valley, ID NSA location. The Middlebury, VT (Addison County) NSA has been combined with the Burlington/St. Albans, VT (Chittenden/Franklin Counties) NSA. Finally, the Manhattan NSA has been renamed New York City, which more accurately recognizes that GSA no longer sets rates for individual New York City boroughs as had been done in the past. The standard lodging per diem rate will remain at $83. The meals and incidental expense tiers also remain unchanged for FY 2014 and range from $46–$71. The CONUS per diem rates prescribed in Bulletin 15–01 may be found at www.gsa.gov/perdiem. GSA bases the lodging rates on the average daily rate that the lodging industry reports to an independent organization. If a lodging rate or a per diem rate is insufficient to meet necessary expenses in any given location, Federal executive agencies can request that GSA review that location. Please review numbers five and six of SUMMARY: PO 00000 Frm 00057 Fmt 4703 Sfmt 4703 GSA’s per diem Frequently Asked Questions at (www.gsa.gov/perdiemfaqs) for more information on the special review process. In addition, the Federal Travel Regulation allows for actual expense reimbursement as provided in §§ 301– 11.300 through 301–11.306. GSA issues and publishes the CONUS per diem rates, formerly published in Appendix A to 41 CFR Chapter 301, solely on the Internet at www.gsa.gov/ perdiem. This process, implemented in 2003, ensures more timely changes in per diem rates established by GSA for Federal employees on official travel within CONUS. Notices published periodically in the Federal Register, such as this one, now constitute the only notification of revisions in CONUS per diem rates to agencies. Dated: August 7, 2014. Carolyn Austin-Diggs, Acting Deputy Associate Administrator, Office of Asset and Transportation Management. [FR Doc. 2014–19078 Filed 8–14–14; 8:45 am] BILLING CODE 6820–14–P DEPARTMENT OF HEALTH AND HUMAN SERVICES Final Effect of Designation of a Class of Employees for Addition to the Special Exposure Cohort National Institute for Occupational Safety and Health (NIOSH), Centers for Disease Control and Prevention, Department of Health and Human Services (HHS). ACTION: Notice. AGENCY: HHS gives notice concerning the final effect of the HHS decision to designate a class of employees from the Nuclear Metals Inc. facility in West Concord, Massachusetts, as an addition to the Special Exposure Cohort (SEC) under the Energy Employees Occupational Illness Compensation Program Act of 2000. FOR FURTHER INFORMATION CONTACT: Stuart L. Hinnefeld, Director, Division of Compensation Analysis and Support, NIOSH, 1090 Tusculum Avenue, MS C– 46, Cincinnati, OH 45226–1938, Telephone 877–222–7570. Information requests can also be submitted by email to DCAS@CDC.GOV. SUPPLEMENTARY INFORMATION: SUMMARY: Authority: 42 U.S.C. 7384q(b). 42 U.S.C. 7384l(14)(C). On July 11, 2014, as provided for under the Secretary of HHS designated the following class of employees as an addition to the SEC: E:\FR\FM\15AUN1.SGM 15AUN1

Agencies

[Federal Register Volume 79, Number 158 (Friday, August 15, 2014)]
[Notices]
[Pages 48167-48168]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2014-19375]


-----------------------------------------------------------------------

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

[[Page 48168]]

of the Board of Governors. Comments must be received not later than 
September 2, 2014.
    A. Federal Reserve Bank of Chicago (Colette A. Fried, Assistant 
Vice President) 230 South LaSalle Street, Chicago, Illinois 60690-1414:
    1. Kimberly L. Johnson, Naples, Florida, as co-trustee of the RFS 
2010 Irrevocable Trust F/B/O Ralph C. Stayer, together with Lisa M. 
Reilly, Naples, Florida, as the co-trustee of the Shelly A. Stayer 2010 
Childrens Trust, to be added to the Stayer Family Control Group; to 
acquire voting shares of Hometown Bancorp, Ltd., and indirectly acquire 
voting shares of Hometown Bank, both in Fond du Lac, Wisconsin.

    Board of Governors of the Federal Reserve System, August 12, 
2014.
Michael J. Lewandowski,
Associate Secretary of the Board.
[FR Doc. 2014-19375 Filed 8-14-14; 8:45 am]
BILLING CODE 6210-01-P
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.