Notice of Termination; 10287, Bank of Ellijay, Ellijay, Georgia, 36306 [2016-13242]
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36306
Federal Register / Vol. 81, No. 108 / Monday, June 6, 2016 / Notices
General Description: Among other
things, the Federal Deposit Insurance
Act (FDIA) sets forth the duties and
responsibilities of the FDIC in providing
for and maintaining a system of deposit
insurance for the nation’s insured
depository institutions and in resolving
troubled insured depository institutions
in a manner that presents the least cost
to the Deposit Insurance Fund. Section
6 of the FDIA sets forth a number of
factors to be considered before an
institution is permitted by the FDIC to
obtain federal deposit insurance. Among
these factors are the financial history of
the institution; the adequacy of the
institution’s capital structure; the
further earnings prospects; the
convenience and needs of the
community; the institution’s corporate
powers, and, not insignificantly, the risk
presented to the Deposit Insurance
Fund. (Similarly, provisions of the
Change in Bank Control Act, found in
section 7 of the FDIA, permit the FDIC—
or another appropriate federal banking
agency—to refuse to permit a proposed
change in bank control if the proposed
transaction would result in an adverse
effect on the Deposit Insurance Fund.)
Section 8 of the FDIA authorizes the
FDIC to assess the safety and soundness
of the practices, operations, and
conditions of insured depository
institutions, and permits the FDIC to
terminate deposit insurance or to take
other appropriate actions if the
institution operates in an unsafe and
unsound manner. Finally, section 13 of
the FDIA authorizes the FDIC to resolve
troubled insured depository institutions
and to dispose of the assets of such
institutions using the method that is
least costly to the Deposit Insurance
Fund, maximizes the return from the
sale of such assets, and minimizes any
loss to the Deposit Insurance Fund.
The FDIC’s policy statement on
Qualifications for Failed Bank
Acquisitions provides guidance to
private capital investors interested in
acquiring or investing in failed insured
depository institutions regarding the
terms and conditions for such
investments or acquisitions. The
information collected pursuant to the
policy statement allows the FDIC to
evaluate, among other things, whether
such investors (and their related
interests) could negatively impact the
Deposit Insurance Fund, increase
resolution costs, or operate in a manner
that conflict with statutory safety and
soundness principles and compliance
requirements.
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 1st day of
June, 2016.
Federal Deposit Insurance Corporation.
Robert E. Feldman,
Executive Secretary.
[FR Doc. 2016–13235 Filed 6–3–16; 8:45 am]
BILLING CODE 6714–01–P
FEDERAL DEPOSIT INSURANCE
CORPORATION
Notice of Termination; 10287, Bank of
Ellijay, Ellijay, Georgia
The Federal Deposit Insurance
Corporation (FDIC), as Receiver for
10287, Bank of Ellijay, Ellijay, Georgia
(Receiver) has been authorized to take
all actions necessary to terminate the
receivership estate of Bank of Ellijay
(Receivership Estate); The Receiver has
made all dividend distributions
required by law.
The Receiver has further irrevocably
authorized and appointed FDICCorporate as its attorney-in-fact to
execute and file any and all documents
that may be required to be executed by
the Receiver which FDIC-Corporate, in
its sole discretion, deems necessary;
including but not limited to releases,
discharges, satisfactions, endorsements,
assignments and deeds. Effective June
01, 2016 the Receivership Estate has
been terminated, the Receiver
discharged, and the Receivership Estate
has ceased to exist as a legal entity.
Date: June 1, 2016.
Federal Deposit Insurance Corporation.
Robert E. Feldman,
Executive Secretary.
[FR Doc. 2016–13242 Filed 6–3–16; 8:45 am]
BILLING CODE 6714–01–P
Request for Comment
Comments are invited on: (a) Whether
the collection of information is
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FEDERAL DEPOSIT INSURANCE
CORPORATION
Notice to All Interested Parties of the
Termination of the Receivership of
10159, Valley Capital Bank, Mesa,
Arizona
Notice is hereby given that the Federal
Deposit Insurance Corporation (‘‘FDIC’’)
as Receiver for Valley Capital Bank,
Mesa, Arizona (‘‘the Receiver’’) intends
to terminate its receivership for said
institution. The FDIC was appointed
receiver of Valley Capital Bank on
December 11, 2009. 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 34.6, 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: June 1, 2016.
Federal Deposit Insurance Corporation.
Robert E. Feldman,
Executive Secretary.
[FR Doc. 2016–13234 Filed 6–3–16; 8:45 am]
BILLING CODE 6714–01–P
FEDERAL RESERVE SYSTEM
Formations of, Acquisitions by, and
Mergers of Savings and Loan Holding
Companies
The companies listed in this notice
have applied to the Board for approval,
pursuant to the Home Owners’ Loan Act
(12 U.S.C. 1461 et seq.) (HOLA),
Regulation LL (12 CFR part 238), and
Regulation MM (12 CFR part 239), and
all other applicable statutes and
regulations to become a savings and
loan holding company and/or to acquire
the assets or the ownership of, control
of, or the power to vote shares of a
savings association and nonbanking
E:\FR\FM\06JNN1.SGM
06JNN1
Agencies
[Federal Register Volume 81, Number 108 (Monday, June 6, 2016)]
[Notices]
[Page 36306]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-13242]
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FEDERAL DEPOSIT INSURANCE CORPORATION
Notice of Termination; 10287, Bank of Ellijay, Ellijay, Georgia
The Federal Deposit Insurance Corporation (FDIC), as Receiver for
10287, Bank of Ellijay, Ellijay, Georgia (Receiver) has been authorized
to take all actions necessary to terminate the receivership estate of
Bank of Ellijay (Receivership Estate); The Receiver has made all
dividend distributions required by law.
The Receiver has further irrevocably authorized and appointed FDIC-
Corporate as its attorney-in-fact to execute and file any and all
documents that may be required to be executed by the Receiver which
FDIC-Corporate, in its sole discretion, deems necessary; including but
not limited to releases, discharges, satisfactions, endorsements,
assignments and deeds. Effective June 01, 2016 the Receivership Estate
has been terminated, the Receiver discharged, and the Receivership
Estate has ceased to exist as a legal entity.
Date: June 1, 2016.
Federal Deposit Insurance Corporation.
Robert E. Feldman,
Executive Secretary.
[FR Doc. 2016-13242 Filed 6-3-16; 8:45 am]
BILLING CODE 6714-01-P