Notice of Annual Adjustment of the Cap on Average Total Assets That Defines Community Financial Institutions, 9196-9197 [2016-03872]
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9196
Federal Register / Vol. 81, No. 36 / Wednesday, February 24, 2016 / Notices
available to the FDIC value-at-risk and
profit and loss information on subportfolios for two years. Section
324.206(b)(3) requires FDIC-supervised
institutions to have policies and
procedures that describe how they
determine the period of significant
financial stress used to calculate the
institution’s stressed value-at-risk
models and to obtain prior FDIC
approval for any material changes to
these policies and procedures.
Section 324.207(b)(1) details
requirements applicable to a FDICsupervised institution when the FDICsupervised institution uses internal
models to measure the specific risk of
certain covered positions. Section
324.208 requires FDIC-supervised
institutions to obtain prior written FDIC
approval for incremental risk modeling.
Section 324.209(a) requires prior FDIC
approval for the use of a comprehensive
risk measure. Section 324.209(c)(2)
requires FDIC-supervised institutions to
retain and report the results of
supervisory stress testing. Section
324.210(f)(2)(i) requires FDICsupervised institutions to document an
internal analysis of the risk
characteristics of each securitization
position in order to demonstrate an
understanding of the position. Section
324.212 requires quarterly quantitative
disclosures, annual qualitative
disclosures, and a formal disclosure
policy approved by the board of
directors that addresses the approach for
determining the market risk disclosures
it makes.
mstockstill on DSK4VPTVN1PROD with NOTICES
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 19th day of
February, 2016.
Federal Deposit Insurance Corporation.
Robert E. Feldman,
Executive Secretary.
[FR Doc. 2016–03818 Filed 2–23–16; 8:45 am]
BILLING CODE 6714–01–P
VerDate Sep<11>2014
17:59 Feb 23, 2016
Jkt 238001
FEDERAL DEPOSIT INSURANCE
CORPORATION
Notice to All Interested Parties of the
Termination of the Receivership of
10227, Champion Bank, Creve Coeur,
MO
Notice is hereby given that the Federal
Deposit Insurance Corporation (‘‘FDIC’’)
as Receiver for Champion Bank, Creve
Coeur, MO (‘‘the Receiver’’) intends to
terminate its receivership for said
institution. The FDIC was appointed
receiver of Champion Bank on April 30,
2010. The liquidation of the
receivership assets has been completed.
To the extent permitted by available
funds and in accordance with law, the
Receiver will be making a final dividend
payment to proven creditors.
Based upon the foregoing, the
Receiver has determined that the
continued existence of the receivership
will serve no useful purpose.
Consequently, notice is given that the
receivership shall be terminated, to be
effective no sooner than thirty days after
the date of this Notice. If any person
wishes to comment concerning the
termination of the receivership, such
comment must be made in writing and
sent within thirty days of the date of
this Notice to: Federal Deposit
Insurance Corporation, Division of
Resolutions and Receiverships,
Attention: Receivership Oversight
Department 32.1, 1601 Bryan Street,
Dallas, TX 75201.
No comments concerning the
termination of this receivership will be
considered which are not sent within
this time frame.
Dated: February 19, 2016.
Federal Deposit Insurance Corporation.
Robert E. Feldman,
Executive Secretary.
[FR Doc. 2016–03907 Filed 2–23–16; 8:45 am]
BILLING CODE 6714–01–P
FEDERAL HOUSING FINANCE
AGENCY
[No. 2016–N–01]
Notice of Annual Adjustment of the
Cap on Average Total Assets That
Defines Community Financial
Institutions
Federal Housing Finance
Agency.
ACTION: Notice.
AGENCY:
The Federal Housing Finance
Agency (FHFA) has adjusted the cap on
average total assets that defines a
‘‘Community Financial Institution’’ to
SUMMARY:
PO 00000
Frm 00036
Fmt 4703
Sfmt 4703
$1,128,000,000, based on the annual
percentage increase in the Consumer
Price Index for all urban consumers
(CPI–U) as published by the Department
of Labor (DOL). These changes took
effect on January 1, 2016.
FOR FURTHER INFORMATION CONTACT:
Kaitlin Hildner, Division of Federal
Home Loan Bank Regulation, (202) 649–
3329, Kaitlin.Hildner@fhfa.gov, or Eric
M. Raudenbush, Assistant General
Counsel, (202) 649–3084,
Eric.Raudenbush@fhfa.gov, (not toll-free
numbers), Federal Housing Finance
Agency, Constitution Center, 400
Seventh Street SW., Washington, DC
20219.
SUPPLEMENTARY INFORMATION:
I. Statutory and Regulatory Background
The Federal Home Loan Bank Act
(Bank Act) confers upon insured
depository institutions that meet the
statutory definition of a ‘‘Community
Financial Institution’’ (CFI) certain
advantages over non-CFI insured
depository institutions in qualifying for
Federal Home Loan Bank (Bank)
membership, and in the purposes for
which they may receive long-term
advances and the collateral they may
pledge to secure advances.1 Section
2(10)(A) of the Bank Act and § 1263.1 of
FHFA’s regulations define a CFI as any
Bank member the deposits of which are
insured by the Federal Deposit
Insurance Corporation and that has
average total assets below a statutory
cap.2 The Bank Act was amended in
2008 to set the statutory cap at $1
billion and to require the Director of
FHFA to adjust the cap annually to
reflect the percentage increase in the
CPI–U, as published by the DOL, for the
prior year.3 For 2015, FHFA set the CFI
asset cap at $1,123,000,000, which
reflected a 1.3 percent increase over
2014, based upon the increase in the
CPI–U between 2013 and 2014.4
II. The CFI Asset Cap for 2016
As of January 1, 2016, FHFA has
increased the CFI asset cap from
$1,123,000,000 to $1,128,000,000,
which reflects a 0.5 percent increase in
the unadjusted CPI–U from November
2014 to November 2015. The new
amount was obtained by rounding to the
nearest million, as has been the practice
for all prior adjustments. Consistent
with the practice of other Federal
agencies, FHFA bases the annual
adjustment to the CFI asset cap on the
1 See
12 U.S.C. 1424(a), 1430(a).
12 U.S.C. 1422(10)(A); 12 CFR 1263.1.
3 See 12 U.S.C. 1422(10); 12 CFR 1263.1 (defining
the term CFI asset cap).
4 See 80 FR 6712 (Feb. 6, 2015).
2 See
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24FEN1
Federal Register / Vol. 81, No. 36 / Wednesday, February 24, 2016 / Notices
percentage increase in the CPI–U from
November of the year prior to the
preceding calendar year to November of
the preceding calendar year, because the
November figures represent the most
recent available data as of January 1st of
the current calendar year.
In calculating the CFI asset cap, FHFA
uses CPI–U data that have not been
seasonally adjusted (i.e., the data have
not been adjusted to remove the
estimated effect of price changes that
normally occur at the same time and in
about the same magnitude every year).
The DOL encourages use of unadjusted
CPI–U data in applying ‘‘escalation’’
provisions such as that governing the
CFI asset cap, because the factors that
are used to seasonally adjust the data
are amended annually, and seasonally
adjusted data that are published earlier
are subject to revision for up to five
years following their original release.
Unadjusted data are not routinely
subject to revision, and previously
published unadjusted data are only
corrected when significant calculation
errors are discovered.
Dated: February 18, 2016.
Melvin L. Watt,
Director, Federal Housing Finance Agency.
broker Cargo Clearing GMBH Austria
without the latter presenting the
Original Bill of lading and also despite
the fact that the shipment was on hold
status and despite the fact that
Vanguard Logistics representative had
given the assurance in writing to us that
the shipment will be on hold.’’
Complainant seeks reparations of
$191,110 plus interest and attorney’s
fees.
The full text of the complaint can be
found in the Commission’s Electronic
Reading Room at www.fmc.gov/16-03.
This proceeding has been assigned to
the Office of Administrative Law Judges.
The initial decision of the presiding
officer in this proceeding shall be issued
by February 13, 2017, and the final
decision of the Commission shall be
issued by August 18, 2017.
Karen V. Gregory,
Secretary.
[FR Doc. 2016–03916 Filed 2–23–16; 8:45 am]
BILLING CODE 6731–AA–P
FEDERAL MARITIME COMMISSION
Notice of Agreement Filed
[FR Doc. 2016–03872 Filed 2–23–16; 8:45 am]
BILLING CODE 8070–01–P
FEDERAL MARITIME COMMISSION
[Docket No. 16–03]
mstockstill on DSK4VPTVN1PROD with NOTICES
KSB Shipping & Logistics LLC v.
Direct Container Line aka Vanguard
Logistics; Notice of Filing of Complaint
and Assignment
Notice is given that a complaint has
been filed with the Federal Maritime
Commission (Commission) by KSB
Shipping & Logistics LLC, hereinafter
‘‘Complainant,’’ against Direct Container
Line aka Vanguard Logistics, hereinafter
‘‘Respondent.’’ Complainant states that
it is a non-vessel-operating common
carrier (NVOCC) and freight forwarder
licensed by the Commission and a New
Jersey corporation. Complainant alleges
that Respondent is an NVOCC licensed
by the Commission.
Complainant alleges that Respondent
has violated section 10(d)(1) of the
Shipping Act, 46 U.S.C. 41102(c), in
connection with a shipment made as
agents for shippers Risona Incorporated
and Bracha Export Corp DBA
Continental, and consolidator R&A
International Logistics Incorporated.
Complainant alleges that ‘‘Cargo Partner
Austria who were the agents of
Vanguard Logistics in Europe released
the delivery order to the consignees
VerDate Sep<11>2014
17:59 Feb 23, 2016
Jkt 238001
The Commission hereby gives notice
of the filing of the following agreement
under the Shipping Act of 1984.
Interested parties may submit comments
on the agreement to the Secretary,
Federal Maritime Commission,
Washington, DC 20573, within twelve
days of the date this notice appears in
the Federal Register. A copy of the
agreement is 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.: 012367–001.
Title: MSC/Maersk Line TransAtlantic Space Charter Agreement.
Parties: Maersk Line A/S and MSC
Mediterranean Shipping Company S.A.
Filing Party: Wayne R. Rohde, Esq.;
Cozen O’Conner; 1200 19th Street NW.;
Washington, DC 20036.
Synopsis: The amendment adds the
trade from the Port of New York/New
Jersey to the Bahamas to the scope of the
agreement, and provides for the
chartering of space for the movement of
empty containers in that sub-trade. The
amendment also revises the amount of
space to be chartered under the
agreement and adds language regarding
the minimum duration of the agreement.
By Order of the Federal Maritime
Commission.
PO 00000
Frm 00037
Fmt 4703
Sfmt 4703
9197
Dated: February 19, 2016.
Karen V. Gregory,
Secretary.
[FR Doc. 2016–03915 Filed 2–23–16; 8:45 am]
BILLING CODE 6731–AA–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
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 March 21,
2016.
A. Federal Reserve Bank of Atlanta
(Chapelle Davis, Assistant Vice
President) 1000 Peachtree Street NE.,
Atlanta, Georgia 30309. Comments can
also be sent electronically to
Applications.Comments@atl.frb.org:
1. Professional Holding Corp., Coral
Gables, Florida; to acquire 100 percent
of the voting shares of FirstCity Bank of
Commerce, Palm Beach Gardens,
Florida.
B. Federal Reserve Bank of St. Louis
(David L. Hubbard, Senior Manager)
P.O. Box 442, St. Louis, Missouri
63166–2034. Comments can also be sent
electronically to
Comments.applications@stls.frb.org:
1. Doctors Only Bancorp, Inc., St.
Louis, Missouri; to become a bank
E:\FR\FM\24FEN1.SGM
24FEN1
Agencies
[Federal Register Volume 81, Number 36 (Wednesday, February 24, 2016)]
[Notices]
[Pages 9196-9197]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-03872]
=======================================================================
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FEDERAL HOUSING FINANCE AGENCY
[No. 2016-N-01]
Notice of Annual Adjustment of the Cap on Average Total Assets
That Defines Community Financial Institutions
AGENCY: Federal Housing Finance Agency.
ACTION: Notice.
-----------------------------------------------------------------------
SUMMARY: The Federal Housing Finance Agency (FHFA) has adjusted the cap
on average total assets that defines a ``Community Financial
Institution'' to $1,128,000,000, based on the annual percentage
increase in the Consumer Price Index for all urban consumers (CPI-U) as
published by the Department of Labor (DOL). These changes took effect
on January 1, 2016.
FOR FURTHER INFORMATION CONTACT: Kaitlin Hildner, Division of Federal
Home Loan Bank Regulation, (202) 649-3329, Kaitlin.Hildner@fhfa.gov, or
Eric M. Raudenbush, Assistant General Counsel, (202) 649-3084,
Eric.Raudenbush@fhfa.gov, (not toll-free numbers), Federal Housing
Finance Agency, Constitution Center, 400 Seventh Street SW.,
Washington, DC 20219.
SUPPLEMENTARY INFORMATION:
I. Statutory and Regulatory Background
The Federal Home Loan Bank Act (Bank Act) confers upon insured
depository institutions that meet the statutory definition of a
``Community Financial Institution'' (CFI) certain advantages over non-
CFI insured depository institutions in qualifying for Federal Home Loan
Bank (Bank) membership, and in the purposes for which they may receive
long-term advances and the collateral they may pledge to secure
advances.\1\ Section 2(10)(A) of the Bank Act and Sec. 1263.1 of
FHFA's regulations define a CFI as any Bank member the deposits of
which are insured by the Federal Deposit Insurance Corporation and that
has average total assets below a statutory cap.\2\ The Bank Act was
amended in 2008 to set the statutory cap at $1 billion and to require
the Director of FHFA to adjust the cap annually to reflect the
percentage increase in the CPI-U, as published by the DOL, for the
prior year.\3\ For 2015, FHFA set the CFI asset cap at $1,123,000,000,
which reflected a 1.3 percent increase over 2014, based upon the
increase in the CPI-U between 2013 and 2014.\4\
---------------------------------------------------------------------------
\1\ See 12 U.S.C. 1424(a), 1430(a).
\2\ See 12 U.S.C. 1422(10)(A); 12 CFR 1263.1.
\3\ See 12 U.S.C. 1422(10); 12 CFR 1263.1 (defining the term CFI
asset cap).
\4\ See 80 FR 6712 (Feb. 6, 2015).
---------------------------------------------------------------------------
II. The CFI Asset Cap for 2016
As of January 1, 2016, FHFA has increased the CFI asset cap from
$1,123,000,000 to $1,128,000,000, which reflects a 0.5 percent increase
in the unadjusted CPI-U from November 2014 to November 2015. The new
amount was obtained by rounding to the nearest million, as has been the
practice for all prior adjustments. Consistent with the practice of
other Federal agencies, FHFA bases the annual adjustment to the CFI
asset cap on the
[[Page 9197]]
percentage increase in the CPI-U from November of the year prior to the
preceding calendar year to November of the preceding calendar year,
because the November figures represent the most recent available data
as of January 1st of the current calendar year.
In calculating the CFI asset cap, FHFA uses CPI-U data that have
not been seasonally adjusted (i.e., the data have not been adjusted to
remove the estimated effect of price changes that normally occur at the
same time and in about the same magnitude every year). The DOL
encourages use of unadjusted CPI-U data in applying ``escalation''
provisions such as that governing the CFI asset cap, because the
factors that are used to seasonally adjust the data are amended
annually, and seasonally adjusted data that are published earlier are
subject to revision for up to five years following their original
release. Unadjusted data are not routinely subject to revision, and
previously published unadjusted data are only corrected when
significant calculation errors are discovered.
Dated: February 18, 2016.
Melvin L. Watt,
Director, Federal Housing Finance Agency.
[FR Doc. 2016-03872 Filed 2-23-16; 8:45 am]
BILLING CODE 8070-01-P