Formations of, Acquisitions by, and Mergers of Bank Holding Companies, 18404 [2015-07792]

Download as PDF tkelley on DSK4VPTVN1PROD with NOTICES 18404 Federal Register / Vol. 80, No. 65 / Monday, April 6, 2015 / Notices many questions as possible from the 2013 Survey, including questions on prepaid cards, direct deposit and reasons for not having a bank account, to allow local and national Bank-On programs to measure the impact of their efforts. The FDIC values the ability to compare results over time and the 2015 Household Survey retains successful elements of the previous surveys, including the core unbanked and underbanked measurements, while also reorganizing and adding questions to gain new insights relevant to serving a diverse range of consumers. The 2015 Household Survey retains many questions from previous surveys and continues to collect information on the use of prepaid cards, direct deposits, and the reasons for not having a bank account. One commenter suggested the addition of specific questions to measure household financial fragility to help understand the connections between emergency savings and banking access (i.e., household’s ability to access $2000). The 2015 Household Survey does not include this particular question due to the need to keep the average length short to reduce non-response. However, it contains a number of new questions that will help the FDIC better understand households’ financial condition. Specifically, the survey will ask about ways in which households save money, their ability to meet their monthly obligations, their income volatility, and their access to mainstream credit. One commenter suggested collecting information on a wider range of credit products. The 2015 questionnaire added a new section on the use of credit products, including mainstream banking credit products (e.g., credit cards, line of credits) to capture a more complete picture of households’ use of credit. However, due to space constraints, questions are focused on mainstream credit products that are more likely to be substitutes for the small-dollar, shortterm credit available from alternative financial service providers. The commenter also suggested collecting more information on the frequency of use of credit and transaction products in order to better understand households’ varying intensity of use of these products. This suggestion is in part addressed by the revisions made in the 2015 survey. In addition to the use of financial products in the last 12 months, the proposed survey also asks households about their typical use of these products to better differentiate regular users from one-time users. The commenter also made suggestions to improve the usability of the online VerDate Sep<11>2014 18:14 Apr 03, 2015 Jkt 235001 tool for analyzing the survey data that is currently available at www.economicinclusion.gov. These comments are helpful and will be taken into account the next time we consider revising the tools. One commenter encouraged the FDIC to offer training to municipalities and others on how to use and maximize the opportunities offered by the custom table generator at: www.economicinclusion.gov. The FDIC’s Community Affairs staff work with local stakeholders to disseminate information about how to use and access the survey data, including the use of the table generator tool at: www.economicinclusion.gov. The FDIC will continue to make sure that this information is regularly shared in presentations and outreach materials. 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; (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. The FDIC will consider all comments to determine the extent to which the information collection should be modified prior to submission to OMB for review and approval. After the comment period closes, comments will be summarized and/or included in the FDIC’s request to OMB for approval of the collection. All comments will become a matter of public record. Dated at Washington, DC, this 1st day of April 2015. Federal Deposit Insurance Corporation. Robert E. Feldman, Executive Secretary. [FR Doc. 2015–07798 Filed 4–3–15; 8:45 am] BILLING CODE 6714–01–P holding company and/or to acquire the assets or the ownership of, control of, or the power to vote shares of a bank or bank holding company and all of the banks and nonbanking companies owned by the bank 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 indicated. The applications will also 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 BHC Act (12 U.S.C. 1842(c)). 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 4 of the BHC Act (12 U.S.C. 1843). 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 1, 2015. A. Federal Reserve Bank of San Francisco (Gerald C. Tsai, Director, Applications and Enforcement) 101 Market Street, San Francisco, California 94105–1579: 1. PacWest Bancorp, and Pacific Western Bank, both in Los Angeles, California; merge with Square 1 Financial, Inc., and thereby indirectly acquire Square 1 Bank, both in Durham, North Carolina. In connection with this application, Applicants have also applied to acquire Square 1 Venture Management 1, L.P., Durham, North Carolina, and thereby engage in funds management, investment advisory, and private placement activities, pursuant to sections 225.28(b)(6)(i), (b)(7)(i) and (b)(7)(iii), respectively. Board of Governors of the Federal Reserve System, April 1, 2015. Michael J. Lewandowski, Associate Secretary of the Board. [FR Doc. 2015–07792 Filed 4–3–15; 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, pursuant to the Bank Holding Company Act of 1956 (12 U.S.C. 1841 et seq.) (BHC Act), Regulation Y (12 CFR part 225), and all other applicable statutes and regulations to become a bank PO 00000 Frm 00053 Fmt 4703 Sfmt 4703 FEDERAL RESERVE SYSTEM Notice of Proposals To Engage in or To Acquire Companies Engaged in Permissible Nonbanking Activities The companies listed in this notice have given notice under section 4 of the Bank Holding Company Act (12 U.S.C. 1843) (BHC Act) and Regulation Y, (12 CFR part 225) to engage de novo, or to E:\FR\FM\06APN1.SGM 06APN1

Agencies

[Federal Register Volume 80, Number 65 (Monday, April 6, 2015)]
[Notices]
[Page 18404]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2015-07792]


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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, pursuant to the Bank Holding Company Act of 1956 (12 U.S.C. 
1841 et seq.) (BHC Act), Regulation Y (12 CFR part 225), and all other 
applicable statutes and regulations to become a bank holding company 
and/or to acquire the assets or the ownership of, control of, or the 
power to vote shares of a bank or bank holding company and all of the 
banks and nonbanking companies owned by the bank 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 indicated. The applications will also 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 BHC Act (12 U.S.C. 1842(c)). 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 4 of the BHC Act (12 U.S.C. 1843). 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 1, 2015.
    A. Federal Reserve Bank of San Francisco (Gerald C. Tsai, Director, 
Applications and Enforcement) 101 Market Street, San Francisco, 
California 94105-1579:
    1. PacWest Bancorp, and Pacific Western Bank, both in Los Angeles, 
California; merge with Square 1 Financial, Inc., and thereby indirectly 
acquire Square 1 Bank, both in Durham, North Carolina.
    In connection with this application, Applicants have also applied 
to acquire Square 1 Venture Management 1, L.P., Durham, North Carolina, 
and thereby engage in funds management, investment advisory, and 
private placement activities, pursuant to sections 225.28(b)(6)(i), 
(b)(7)(i) and (b)(7)(iii), respectively.

    Board of Governors of the Federal Reserve System, April 1, 2015.
Michael J. Lewandowski,
Associate Secretary of the Board.
[FR Doc. 2015-07792 Filed 4-3-15; 8:45 am]
BILLING CODE 6210-01-P