Formations of, Acquisitions by, and Mergers of Bank Holding Companies, 31061-31062 [2017-14054]

Download as PDF Federal Register / Vol. 82, No. 127 / Wednesday, July 5, 2017 / Notices sradovich on DSK3GMQ082PROD with NOTICES by the Administrator, under which a chemical substance is intended, known, or reasonably foreseen to be manufactured, processed, distributed in commerce, used, or disposed of.’’ EPA is required under TSCA section 5(g) to publish in the Federal Register a statement of its findings after its review of a TSCA section 5(a) notice when EPA makes a finding that a new chemical substance or significant new use is not likely to present an unreasonable risk of injury to health or the environment. Such statements apply to PMNs, MCANs, and SNUNs submitted to EPA under TSCA section 5. Anyone who plans to manufacture (which includes import) a new chemical substance for a non-exempt commercial purpose and any manufacturer or processor wishing to engage in a use of a chemical substance designated by EPA as a significant new use must submit a notice to EPA at least 90 days before commencing manufacture of the new chemical substance or before engaging in the significant new use. The submitter of a notice to EPA for which EPA has made a finding of ‘‘not likely to present an unreasonable risk of injury to health or the environment’’ may commence manufacture of the chemical substance or manufacture or processing for the significant new use notwithstanding any remaining portion of the applicable review period. IV. Statements of Administrator Findings Under TSCA Section 5(a)(3)(C) In this unit, EPA provides the following information (to the extent that such information is not claimed as Confidential Business Information (CBI)) on the PMNs, MCANs and SNUNs for which, during this period, EPA has made findings under TSCA section 5(a)(3)(C) that the new chemical substances or significant new uses are not likely to present an unreasonable risk of injury to health or the environment: • EPA case number assigned to the TSCA section 5(a) notice. • Chemical identity (generic name, if the specific name is claimed as CBI). • Web site link to EPA’s decision document describing the basis of the ‘‘not likely to present an unreasonable risk’’ finding made by EPA under TSCA section 5(a)(3)(C). EPA Case Number: P–16–0592; Chemical identity: Fatty acids, C8–10, diesters with alpha.-hydro-.omega.hydroxypoly(oxy-1,4-butanediyl); Web site link: https://www.epa.gov/ reviewing-new-chemicals-under-toxicsubstances-control-act-tsca/tsca-section5a3c-determination-47. VerDate Sep<11>2014 17:57 Jul 03, 2017 Jkt 241001 EPA Case Number: P–17–0008; Chemical identity: Modified 1,3isobenzofurandione, polymer with 1,2ethanediol, 2-ethyl-2-(alkoxyalkyl)-1,3propanediol and 1,3Isobenzofurandione, alkanoate (generic name); Web site link: https:// www.epa.gov/reviewing-new-chemicalsunder-toxic-substances-control-act-tsca/ tsca-section-5a3c-determination-48. EPA Case Number: P–17–0014; Chemical identity: Fatty acids, C8–10, mixed esters with C18-unsatd. fatty acid dimers and alpha.-hydro-.omega.hydroxypoly(oxy-1,4-butanediyl); Web site link: https://www.epa.gov/ reviewing-new-chemicals-under-toxicsubstances-control-act-tsca/tsca-section5a3c-determination-49. EPA Case Number: P–17–0194; Chemical identity: Hydrogenated dihalo dialkyl diindolotriphenodioxazine, dihydrodisubstituted isoindolyl alkyl derivs (generic name); Web site link: https://www.epa.gov/reviewing-newchemicals-under-toxic-substancescontrol-act-tsca/tsca-section-5a3cdetermination-52. EPA Case Number: P–17–0214; Chemical identity: 2-Propenoic acid, polymer with alkene and alkenyl acetate, alkyl 2-alkyl isoalkyl esters (generic name); Web site link: https:// www.epa.gov/reviewing-new-chemicalsunder-toxic-substances-control-act-tsca/ tsca-section-5a3c-determination-50. EPA Case Number: P–17–0215; Chemical identity: Copolymer of alphaolefin and dibutyl maleate (generic name); Web site link: https:// www.epa.gov/reviewing-new-chemicalsunder-toxic-substances-control-act-tsca/ tsca-section-5a3c-determination-51. Authority: 15 U.S.C. 2601 et seq. Dated: May 30, 2017. Greg Schweer, Chief, New Chemicals Management Branch, Chemical Control Division, Office of Pollution Prevention and Toxics. [FR Doc. 2017–14084 Filed 7–3–17; 8:45 am] BILLING CODE 6560–50–P FEDERAL MARITIME COMMISSION Notice of Agreement Filed 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) PO 00000 Frm 00023 Fmt 4703 Sfmt 4703 31061 or by contacting the Office of Agreements at (202) 523–5793 or tradeanalysis@fmc.gov. Agreement No.: 011931–006. Title: CMA CGM/Marfret Vessel Sharing Agreement. Parties: CMA CGM S.A; and Compagnie Maritime Marfret S.A. Filing Party: Draughn B. Arbona, Esq.; Senior Counsel; CMA CGM (America), LLC., 5701 Lake Wright Drive, Norfolk, VA 23502–1868. Synopsis: The amendment would provide for ad hoc space charters from CMA CGM to Marfret in the event of service disruptions due to port omissions. Agreement No.: 012339–002. Title: Sealand/APL West Coast of Central America Slot Charter Agreement. Parties: APL Co. Pte Ltd/American President Lines, Ltd. (collectively ‘‘APL’’); and Maersk Line A/S dba Sealand. Filing Party: Wayne Rohde, Esq.; Cozen O’Connor; 1200 Nineteenth Street NW., Washington, DC 20036. Synopsis: The amendment revises Article 5.1 to change the amount of space being chartered. By Order of the Federal Maritime Commission. Dated: June 29, 2017. Rachel E. Dickon, Assistant Secretary. [FR Doc. 2017–14066 Filed 7–3–17; 8:45 am] BILLING CODE 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 E:\FR\FM\05JYN1.SGM 05JYN1 31062 Federal Register / Vol. 82, No. 127 / Wednesday, July 5, 2017 / Notices 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 July 31, 2017. A. Federal Reserve Bank of Minneapolis (Brendan S. Murrin, Assistant Vice President) 90 Hennepin Avenue, Minneapolis, Minnesota 55480–0291: 1. Kirkwood Bancorporation Co. Bismarck, North Dakota; to acquire up to 33 percent of the voting shares of Kirkwood Bancorporation of Nevada, Inc., Las Vegas, Nevada, and thereby indirectly acquire shares of Kirkwood Bank of Nevada, Las Vegas, Nevada. Board of Governors of the Federal Reserve System, June 29, 2017. Yao-Chin Chao, Assistant Secretary of the Board. [FR Doc. 2017–14054 Filed 7–3–17; 8:45 am] BILLING CODE 6210–01–P FEDERAL RESERVE SYSTEM [Docket No. Op–1567] sradovich on DSK3GMQ082PROD with NOTICES Announcement of Financial Sector Liabilities Section 622 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, implemented by the Board’s Regulation XX, prohibits a merger or acquisition that would result in a financial company that controls more than 10 percent of the aggregate consolidated liabilities of all financial companies (‘‘aggregate financial sector liabilities’’). Specifically, an insured depository institution, a bank holding company, a savings and loan holding company, a foreign banking organization, any other company that controls an insured depository institution, and a nonbank financial company designated by the Financial Stability Oversight Council (each, a ‘‘financial company’’) is prohibited from merging or consolidating with, acquiring all or substantially all of the assets of, or acquiring control of, another company if the resulting company’s consolidated liabilities would exceed 10 percent of the aggregate financial sector liabilities.1 1 12 U.S.C. 1852(a)(2), (b). VerDate Sep<11>2014 17:57 Jul 03, 2017 Jkt 241001 Pursuant to Regulation XX, the Federal Reserve will publish the aggregate financial sector liabilities by July 1 of each year. Aggregate financial sector liabilities equals the average of the year-end financial sector liabilities figure (as of December 31) of each of the preceding two calendar years. For Further Information Contact: Sean Healey, Supervisory Financial Analyst, (202) 912–4611; Matthew Suntag, Senior Attorney, (202) 452– 3694; for persons who are deaf or hard of hearing, TTY (202) 263–4869. Aggregate Financial Sector Liabilities Aggregate financial sector liabilities is equal to $21,010,053,985,500.2 This measure is in effect from July 1, 2017 through June 30, 2018. Calculation Methodology Aggregate financial sector liabilities equals the average of the year-end financial sector liabilities figure (as of December 31) of each of the preceding two calendar years. The year-end financial sector liabilities figure equals the sum of the total consolidated liabilities of all top-tier U.S. financial companies and the U.S. liabilities of all top-tier foreign financial companies, calculated using the applicable methodology for each financial company, as set forth in Regulation XX and summarized below. Consolidated liabilities of a U.S. financial company that was subject to consolidated risk-based capital rules as of December 31 of the year being measured, equal the difference between its risk-weighted assets (as adjusted upward to reflect amounts that are deducted from regulatory capital elements pursuant to the Federal banking agencies’ risk-based capital rules) and total regulatory capital, as calculated under the applicable riskbased capital rules. For the year ending on December 31, 2016, companies in this category include (with certain exceptions listed below) bank holding companies, savings and loan holding 2 This number reflects the average of the financial sector liabilities figure for the year ending December 31, 2015 ($21,940,911,695,000) and the year ending December 31, 2016 ($20,079,196,276,000). The decrease in liabilities between year-end 2015 and 2016 was primarily caused by the status change of General Electric Company and Metlife, Inc. As of year-end 2015, both companies met the definition of financial company under Regulation XX and were included in the financial sector liability calculation for that year. As of year-end 2016, neither General Electric Company nor Metlife, Inc. met the definition of financial company and, thus, both were excluded from the financial liability calculation. A further decrease in liabilities resulted from certain foreign banking organizations holding more risk-based capital against their U.S.-based assets in year-end 2016, compared to year-end 2015. PO 00000 Frm 00024 Fmt 4703 Sfmt 4703 companies, and insured depository institutions. The Federal Reserve used information collected on the Consolidated Financial Statements for Holding Companies (FR Y–9C) and the Bank Consolidated Reports of Condition and Income (Call Report) to calculate liabilities of these institutions. Consolidated liabilities of a U.S. financial company not subject to consolidated risk-based capital rules as of December 31 of the year being measured, equal liabilities calculated in accordance with applicable accounting standards. For the year ending on December 31, 2016, companies in this category include nonbank financial companies supervised by the Board, bank holding companies and savings and loan holding companies subject to the Federal Reserve’s Small Bank Holding Company Policy Statement, savings and loan holding companies substantially engaged in insurance underwriting or commercial activities, and U.S. companies that control depository institutions but are not bank holding companies or savings and loan holding companies. ‘‘Applicable accounting standards’’ is defined as GAAP, or such other accounting standard or method of estimation that the Board determines is appropriate.3 The Federal Reserve used information collected on the FR Y–9C, the Parent Company Only Financial Statements for Small Holding Companies (FR Y–9SP), and the Financial Company Report of Consolidated Liabilities (FR XX–1) to calculate liabilities of these institutions. Section 622 provides that the U.S. liabilities of a ‘‘foreign financial company’’ equal the risk-weighted assets and regulatory capital attributable to the company’s ‘‘U.S. operations.’’ Under Regulation XX, liabilities of a foreign banking organization’s U.S. operations are calculated using the riskweighted asset methodology for subsidiaries subject to risk-based capital rules, plus the assets of all branches, agencies, and nonbank subsidiaries, calculated in accordance with applicable accounting standards. Liabilities attributable to the U.S. operations of a foreign financial company that is not a foreign banking organization are calculated in a similar manner to the method described for foreign banking organizations, but liabilities of a U.S. subsidiary not subject to risk-based capital rules are calculated based on the U.S. 3 A financial company may request to use an accounting standard or method of estimation other than GAAP if it does not calculate its total consolidated assets or liabilities under GAAP for any regulatory purpose (including compliance with applicable securities laws). 12 CFR 251.3(e). E:\FR\FM\05JYN1.SGM 05JYN1

Agencies

[Federal Register Volume 82, Number 127 (Wednesday, July 5, 2017)]
[Notices]
[Pages 31061-31062]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-14054]


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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

[[Page 31062]]

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 July 31, 2017.
    A. Federal Reserve Bank of Minneapolis (Brendan S. Murrin, 
Assistant Vice President) 90 Hennepin Avenue, Minneapolis, Minnesota 
55480-0291:
    1. Kirkwood Bancorporation Co. Bismarck, North Dakota; to acquire 
up to 33 percent of the voting shares of Kirkwood Bancorporation of 
Nevada, Inc., Las Vegas, Nevada, and thereby indirectly acquire shares 
of Kirkwood Bank of Nevada, Las Vegas, Nevada.

    Board of Governors of the Federal Reserve System, June 29, 2017.
Yao-Chin Chao,
Assistant Secretary of the Board.
[FR Doc. 2017-14054 Filed 7-3-17; 8:45 am]
BILLING CODE 6210-01-P