Federal Register / Vol. 65, No. 109 / Tuesday, June 6, 2000 / Notices 35935

between a domestic bank holding

company and its subsidiaries in order to

identify broad categories of

intercompany transactions and balances

that may affect the financial condition

of the subsidiary bank. The report also

collects information on income

recognized by subsidiary banks from

other bank holding company members

as well as information on credit

extended by subsidiary banks to other

bank holding company members.

Domestic top-tier bank holding

companies with assets of $300 million

or more are required to file the FR Y–

8 on a semiannual basis (June and

December). Also, interim reporting is

currently required within ten calendar

days of certain large asset transfers.

Current actions: On May 19, 2000, a

Federal Register notice (65 FR 31912)

was issued for public comment to

completely revise the FR Y–8. The

Federal Reserve proposed to delete the

current information on the FR Y–8 and

collect fourteen items of information on

Section 23A covered transactions. The

Federal Reserve is now amending this

Federal Register notice, with regard to

the FR Y–8 respondent panel, to include

foreign banking organizations that

directly own U.S. subsidiary banks. The

comment period on the May 19, 2000,

notice is extended to August 7, 2000.

The Federal Reserve proposes, at the

same time, to discontinue the Report of

Intercompany Transactions for Foreign

Banking Organizations and Their U.S.

Bank Subsidiaries (FR Y–8f; OMB.

7100–0127). The majority of the FR Y–

8f respondents (foreign banking

organizations that own U.S. bank

subsidiaries through a domestic bank

holding company) are included in the

FR Y–8 panel proposed in the May 19

Federal Register notice; this

amendment includes the remaining 22

foreign banking organizations (that

directly own U.S. banks) in the

respondent panel.

Discontinuance of the Following Report

Under OMB Delegated Authority

Report title: Report of Intercompany

Transactions for Foreign Banking

Organizations and their U.S. Bank

Subsidiaries.

Agency form number: FR Y–8f.

OMB control number: 7100–0127.

Frequency: Semi-annually, and

interim reporting required for certain

large asset transfers.

Reporters: Bank holding companies as

defined by Section 2(a) of the Bank

Holding Company Act with at least $300

million in total consolidated assets that

are organized under the laws of a

foreign country and principally engaged

in banking outside the United States.

Annual reporting hours: 360.

Estimated average hours per response:

3.

Number of respondents: 58.

semiannual respondents; 4 interim

respondents Small businesses are not

affected.

General description of report: This

information collection is authorized by

section 5(c) of the Bank Holding

Company Act (12 U.S.C. 1844 (c)) and

section 225.5 (b) of Regulation Y (12

CFR 225.5 (b)) and is given confidential

treatment pursuant to the Freedom of

Information Act (5 U.S.C. 552 (b)(8)).

Abstract: This report provides the

Federal Reserve System with

information on intercompany

transactions between foreign banking

organizations and their U.S. bank

subsidiaries. It enables the Federal

Reserve to monitor and supervise

intercompany flows of funds to ensure

that U.S. subsidiary banks are not

engaging in any unsafe and unsound

practices with their foreign owners. This

report supplements the Board’s global

framework for the supervision of the

U.S. operations of foreign banks. In

addition, it aids in determining whether

a foreign banking organization serves as

a source of strength to its U.S.

subsidiary.

Current Actions: On May 19, 2000, a

Federal Register notice (65 FR 31912)

was issued for public comment to

completely revise The Bank Holding

Company Report of Insured Depository

Institutions’ Section 23A Transactions

with Affiliates (FR Y–8), which is filed

by domestic top-tier bank holding

companies. The Federal Reserve now

proposes to have foreign banking

organizations that directly own U.S.

subsidiary banks also file the revised FR

Y–8. The comment period on the May

19, 2000, notice is extended to August

7, 2000. If this change to the reporting

panel is adopted, the Federal Reserve

will, at the same time, discontinue the

FR Y–8f.

Board of Governors of the Federal Reserve

System, May 31, 2000.

Robert deV. Frierson,

Associate Secretary of the Board.

[FR Doc. 00–14069 Filed 6–5–00; 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

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 application also will 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.

Additional information on all bank

holding companies may be obtained

from the National Information Center

website at www.ffiec.gov/nic/.

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 June 30, 2000.

A. Federal Reserve Bank of Kansas

City (D. Michael Manies, Assistant Vice

President) 925 Grand Avenue, Kansas

City, Missouri 64198–0001:

1. BancFirst Corporation, Oklahoma

City, Oklahoma; to merge with First

Southwest Corporation, Frederick,

Oklahoma, and thereby indirectly

acquire First Southwest Bank,

Frederick, Oklahoma.

Board of Governors of the Federal Reserve

System, May 31, 2000.

Robert deV. Frierson,

Associate Secretary of the Board.

[FR Doc. 00–14070 Filed 6–5–00; 8:45 am]

BILLING CODE 6210–01–P

FEDERAL TRADE COMMISSION

[File No. 002 3082]

Zim Textile Corporation; Analysis To

Aid Public Comment

AGENCY: Federal Trade Commission.

ACTION: Proposed consent agreement

SUMMARY: The consent agreement in this

matter settles alleged violations of

federal law prohibiting unfair or

deceptive acts or practices or unfair

methods of competition. The attached