Federal Register / Vol. 69, No. 215 / Monday, November 8, 2004 / Notices 64761

Addition of a Schedule for 

‘‘Nonfinancial Investment Transactions 

During the Reporting Period’’

The Federal Reserve proposed adding 

a schedule that would collect data on all 

PEMB activity of the BHC, on an 

aggregate basis, for the reporting period. 

Columns A and B would collect 

acquisition cost and carrying value for 

all purchases, returns of capital, and net 

changes in valuation made for all direct 

investments. Columns C and D would 

collect data on the same items for all 

transactions involving indirect (fund) 

investments. These data would provide 

valuable insight into the scope of 

activity on a transaction basis and, 

when reviewed over time, would 

provide critical trend data useful for 

industry studies as well as BHC 

supervisory monitoring.

The commenter strongly opposed the 

addition of the schedule and felt the 

intended use of the data was unclear. 

The commenter also stated that the 

reasons provided for collecting the data 

did not fully justify the costs to the 

industry. The Federal Reserve disagreed 

with this comment stating that these 

data will enhance off–site monitoring of 

PEMB activity and will better facilitate 

risk–focused supervision by providing 

supervisors with significant insights 

into the level of activities that are not 

necessarily discernible by reviewing 

only aggregate balances.

The commenter stated that these data 

currently are not readily available and 

providing such detail would require the 

implementation of new tracking systems 

to capture the detail, as proposed. The 

Federal Reserve believes the items 

should be readily available on a BHC’s 

internal tracking systems of associated 

cash flows. In meeting with several large 

BHCs, company representatives 

emphasized that PEMB participants 

track commitments to invest, cash flows 

associated with new investments, and 

the return of cash related to existing 

investments in order to calculate 

internal rates of return. The new items 

in this schedule would require 

respondents to slot the cash flows and 

valuation adjustments.

Revised Instructions for Acquisition 

Costs

The commenter stated that the 

definition for ‘‘Acquisition Costs’’ was 

unclear and conflicted with previous 

guidance. The Federal Reserve clarified 

the glossary entry for Acquisition Costs 

in the instructions.

Effective Date

The commenter urged the Federal 

Reserve to delay the implementation 

date of these revisions for a minimum 

of two quarters. The commenter felt the 

additional time would be necessary for 

BHCs to implement changes to their 

processes and other resources that 

would be required to fulfill the new 

filing requirements. The Federal Reserve 

believes that the time allotted for 

implementing the proposed revisions is 

sufficient because of modifications to 

the proposal for ‘‘Investments managed 

for others’’ and because BHCs have until 

March 2005 before the revised reporting 

goes into effect.

Board of Governors of the Federal Reserve 

System, November 3, 2004.

Jennifer J. Johnson

Secretary of the Board.

[FR Doc. 04–24843 Filed 11–5–04; 8:45 am]

BILLING CODE: 6210–01–S

FEDERAL RESERVE SYSTEM

Change in Bank Control Notices; 

Acquisition of Shares of Bank or Bank 

Holding Companies

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 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 office 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 

November 22, 2004.

A. Federal Reserve Bank of Atlanta

(Sue Costello, Vice President) 1000 

Peachtree Street, N.E., Atlanta, Georgia 

30303:

1. Rex Lee Davis, Emily Medlock 

Davis, Alan Rex Davis, Beverly Renee 

Davis, Stephen Paul Davis, and Tammy 

Renee Davis, all of Boaz, Alabama; to 

acquire additional voting shares of 

Peoples Independent Bancshares, Inc., 

and thereby indirectly acquire voting 

shares of Peoples Independent Bank, 

Boaz, Alabama.

Board of Governors of the Federal Reserve 

System, November 2, 2004.

Robert deV. Frierson,

Deputy Secretary of the Board.

[FR Doc. 04–24791 Filed 11–5–04; 8:45 am]

BILLING CODE 6210–01–S

DEPARTMENT OF HEALTH AND 

HUMAN SERVICES 

Agency for Healthcare Research and 

Quality Notice of Meeting 

In accordance with section 10(d) of 

the Federal Advisory Committee Act (5 

U.S.C., Appendix 2), announcement is 

made of a Health Care Policy and 

Research Special Emphasis Panel (SEP) 

meeting. 

The Health Care Policy and Research 

Special Emphasis Panel is a group of 

experts in fields related to health care 

research who are invited by the Agency 

for Healthcare Research and Quality 

(AHRQ), and agree to be available, to 

conduct on an as needed basis, 

scientific reviews of applications for 

AHRQ or other Department support. 

Individual members of the Panel do not 

attend regularly-scheduled meetings 

and do not serve for fixed terms or long 

period of time. Rather, they are asked to 

participate in particular review 

meetings which require their type of 

expertise. 

Substantial segments of the upcoming 

SEP meeting listed below will be closed 

to the public in accordance with the 

Federal Advisory Committee Act, 

section 10(d) of 5 U.S.C., Appendix 2 

and 5 U.S.C. 552b(c)(6). Grant 

applications for Adolescent Family Life 

Research Grant (R01) Awards are to be 

reviewed and discussed at this meeting. 

These discussions are likely to reveal 

personal information concerning 

individuals associated with the 

applications. This information is 

exempt from mandatory disclosure 

under the above-cited statutes. 

SEP Meeting on: Adolescent Family 

Life Research Grant (R01) Awards. 

Date: December 9–10, 2004 (open on 

December 9 from 8 a.m. to 8:10 a.m. and 

closed for the remainder of the meeting). 

Place: John Eisenberg Building, 540 

Gaither Road, Brighton Dam Room, 

Rockville, MD 20850. 

Contact Person: Anyone wishing to 

obtain a roster of members, agenda or 

minutes of the nonconfidential portions 

of this meeting should contact Mrs. 

Bonnie Campbell, Committee 

Management Officer, Office of Research 

Review, Education and Policy, AHRQ, 

540 Gaither Road, Room 2038, 

Rockville, Maryland 20850, Telephone 

(301) 427–1554. 

Agenda items for this meeting are 

subject to change as priorities dictate.

Dated: November 2, 2004. 

Carolyn M. Clancy, 

Director.

[FR Doc. 04–24815 Filed 11–5–04; 8:45 am] 

BILLING CODE 4160–90–M