Federal Register / Vol. 72, No. 57 / Monday, March 26, 2007 / Notices 14109 

Current actions: On January 11, 2007, 

the Federal Reserve published a notice 

in the Federal Register (72 FR 1325) 

requesting public comment for 60 days 

on the revision, without extension, of 

the Financial Statements of Foreign 

Subsidiaries of U.S. Banking 

Organizations. The comment period 

expired on March 12, 2007. The Federal 

Reserve did not receive any comment 

letters. All reporting changes will be 

implemented effective with the March 

31, 2007, report date. 

Recently, the volume of 1–4 family 

residential mortgage loan products 

whose terms allow for negative 

amortization and the number of 

institutions providing borrowers with 

such loans has increased significantly. 

Loans with this feature are structured in 

a manner that may result in an increase 

in the loan’s principal balance even 

when the borrower’s payments are 

technically current. When loans with 

negative amortization are not prudently 

underwritten and not properly 

monitored, they raise safety and 

soundness concerns. Currently the 

Federal Reserve has no readily available 

means of identifying the industry’s 

exposure to such loans. Therefore, the 

Federal Reserve proposed to collect four 

data items at the nonbank subsidiary 

level to monitor the extension of 

negatively amortizing residential 

mortgage loans in the industry and to 

parallel the data items being proposed 

for inclusion on the FR Y–9C. 

The Federal Reserve proposed to 

collect one memorandum item from all 

nonbank subsidiaries on Schedule BS–

A, Loan and Leases Financing 

Receivables, for the total amount of 

closed–end loans with negative 

amortization features secured by 1–4 

family residential properties in order to 

obtain an overall measure of this 

potentially higher risk lending activity. 

In addition, the Federal Reserve 

proposed to collect two memorandum 

items on Schedule BS–A and one 

memorandum item on Schedule IS, 

Income Statement, from nonbank 

subsidiaries with a significant volume of 

negatively amortizing 1–4 family 

residential mortgage loans. The 

threshold for significant volume would 

be based on the aggregate carrying 

amount of negatively amortizing loans 

in excess of 5 percent of the total loans 

and leases reported on Schedule BS–A. 

A nonbank with negatively amortizing 

loans would determine whether it met 

the size threshold for reporting the three 

additional memorandum items based on 

data reported from the previous year–

end FR 2314. 

The Federal Reserve also proposed 

two additional Schedule BS–A 

memorandum items to collect (1) the 

total maximum remaining amount of 

negative amortization contractually 

permitted on closed–end loans secured 

by 1–4 family residential properties and 

(2) the total amount of negative 

amortization on closed–end loans 

secured by 1–4 family residential 

properties that is included in the 

carrying amount of these loans. The first 

memorandum item would provide a 

measure of the maximum exposure that 

could be incurred for negative 

amortization loans in the current 1–4 

family residential property loan 

portfolio. The second memorandum 

item would then identify what 

component of 1–4 family mortgage loans 

is comprised of negative amortization 

loans. The Schedule IS memorandum 

item is year–to–date non–cash income 

on closed–end loans with a negative 

amortization feature secured by 1–4 

family residential properties. This 

memorandum item would identify the 

amount and extent of interest revenue 

accrued and uncollected to ascertain the 

degree this potentially higher risk 

lending activity supports the BHC’s 

overall net income. All nonbank 

subsidiaries with negatively amortizing 

1–4 family residential loans in excess of 

the reporting threshold would report 

these data items for the entire calendar 

year following the end of any calendar 

year when the threshold was exceeded. 

The Federal Reserve proposed to add 

the section Notes to the Financial 

Statements to allow respondents the 

opportunity to provide, at their option, 

any material information included in 

specific data items on the financial 

statements that the parent U.S. banking 

organization wishes to explain. The 

addition of this section would enable 

the Federal Reserve to automate 

information that respondents may want 

to report as footnotes to various reported 

data items and provide for release of 

this information to the public. This 

section is currently included on the FR 

Y–11. 

Board of Governors of the Federal 

Reserve System, March 21, 2007. 

Jennifer J. Johnson, 

Secretary of the Board. 

[FR Doc. E7–5503 Filed 3–23–07; 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 April 10, 

2007. 

A. Federal Reserve Bank of Kansas 

City (Donna J. Ward, Assistant Vice 

President) 925 Grand Avenue, Kansas 

City, Missouri 64198-0001: 

1. William Scott Martin Trust and 

William S. Martin, Miami Beach, 

Florida, as trustee; to acquire control of 

Green Country Bancorporation, Inc., and 

thereby indirectly acquire control of The 

First State Bank, both in Ketchum, 

Oklahoma. 

Board of Governors of the Federal Reserve 

System, March 21, 2007. 

Robert deV. Frierson, 

Deputy Secretary of the Board. 

[FR Doc. E7–5437 Filed 3–23–07; 8:45 am] 

BILLING CODE 6210–01–S 

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 


cprice-sewell on PROD1PC66 with NOTICES
14110 Federal Register / Vol. 72, No. 57 / Monday, March 26, 2007 / Notices 

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 http://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 April 16, 2007. 

A. Federal Reserve Bank of New 

York (Anne McEwen, Financial 

Specialist) 33 Liberty Street, New York, 

New York 10045-0001: 

1. Boymelgreen Financial Holdings 

Inc., New York, New York; to become a 

bank holding company by acquiring 100 

percent of the voting shares of 

LibertyPointe Bank, both of New York, 

New York. 

B. Federal Reserve Bank of Chicago 

(Patrick M. Wilder, Assistant Vice 

President) 230 South LaSalle Street, 

Chicago, Illinois 60690-1414: 

1. Marshall & Ilsley Corporation, 

Milwaukee, Wisconsin; to acquire 100 

percent of the voting shares of Excel 

Bank Corporation, Minneapolis, 

Minnesota, and thereby indirectly 

acquire voting shares of Excel Bank 

Minnesota, Minneapolis, Minnesota. 

Board of Governors of the Federal Reserve 

System, March 19, 2007. 

Robert deV. Frierson, 

Deputy Secretary of the Board. 

[FR Doc. E7–5424 Filed 3–23–07; 8:45 am] 

BILLING CODE 6210–01–S 

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 http://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 April 20, 2007. 

A. Federal Reserve Bank of Dallas 

(W. Arthur Tribble, Vice President) 2200 

North Pearl Street, Dallas, Texas 75201- 

2272: 

1. SWNB Bancorp, Inc., Houston, 

Texas; to acquire 100 percent of the 

voting shares of Nevada National Bank, 

Las Vegas, Nevada, a de novo bank. 

Board of Governors of the Federal Reserve 

System, March 21, 2007. 

Robert deV. Frierson, 

Deputy Secretary of the Board. 

[FR Doc. E7–5438 Filed 3–23–07; 8:45 am] 

BILLING CODE 6210–01–S 

FEDERAL RESERVE SYSTEM 

Notice of Proposals to Engage in 

Permissible Nonbanking Activities or 

to Acquire Companies that are 

Engaged in Permissible Nonbanking 

Activities 

The companies listed in this notice 

have given notice under section 4 of the 

Bank Holding Company Act (12 U.S.C. 

1843) (BHC Act) and Regulation Y (12 

CFR Part 225) to engage de novo, or to 

acquire or control voting securities or 

assets of a company, including the 

companies listed below, that engages 

either directly or through a subsidiary or 

other company, in a nonbanking activity 

that is listed in § 225.28 of Regulation Y 

(12 CFR 225.28) or that the Board has 

determined by Order to be closely 

related to banking and permissible for 

bank holding companies. Unless 

otherwise noted, these activities will be 

conducted throughout the United States. 

Each notice is available for inspection 

at the Federal Reserve Bank indicated. 

The notice also will be available for 

inspection at the offices of the Board of 

Governors. Interested persons may 

express their views in writing on the 

question whether the proposal complies 

with the standards of section 4 of the 

BHC Act. Additional information on all 

bank holding companies may be 

obtained from the National Information 

Center website at http://www.ffiec.gov/ 

nic/. 

Unless otherwise noted, comments 

regarding the applications must be 

received at the Reserve Bank indicated 

or the offices of the Board of Governors 

not later than April 16, 2007. 

A. Federal Reserve Bank of Chicago 

(Patrick M. Wilder, Assistant Vice 

President) 230 South LaSalle Street, 

Chicago, Illinois 60690-1414: 

Capitol Bancorp, Ltd., Lansing, 

Michigan; to convert Ohio Commerce 

Bank, Beachwood, Ohio, and Bank of 

Maumee, Maumee, Ohio, into savings 

institutions, and thereby engage in 

operating savings and loan associations, 

pursuant to section 225.28(b)(4)(ii) of 

Regulation Y. 

Board of Governors of the Federal Reserve 

System, March 19, 2007. 

Robert deV. Frierson, 

Deputy Secretary of the Board. 

[FR Doc. E7–5425 Filed 3–23–07; 8:45 am] 

BILLING CODE 6210–01–S 

GENERAL SERVICES 

ADMINISTRATION 

Federal Travel Regulation (FTR) 

Maximum Per Diem Rates for the 

States of California, Georgia, Idaho, 

Kentucky, Louisiana, Maryland, 

Mississippi, Missouri, Montana, Ohio, 

South Carolina, Utah and Wyoming 

AGENCY: Office of Governmentwide 

Policy, General Services Administration 

(GSA). 

ACTION: Notice of Per Diem Bulletin 07–

03, revised continental United States 

(CONUS) per diem rates. 

SUMMARY: The General Services 

Administration (GSA) has reviewed the 

lodging rates for certain locations in the 

States of California, Georgia, Idaho, 

Kentucky, Louisiana, Maryland, 

Mississippi, Missouri, Montana, Ohio, 

South Carolina, Utah and Wyoming, 

using more current lodging industry 

data, as well as data on where Federal 

travelers actually stay when visiting 

these locations. Also, GSA has reviewed 

the meals and incidental expenses 

(M&IE) rate for certain locations in the 

States of Georgia, Idaho, Louisiana, 

Missouri, Mississippi, Utah and 

Wyoming. The per diem rates 

prescribed in Bulletin 07–03 may be 

found at http://www.gsa.gov/perdiem. 

DATES: This notice is effective March 30, 

2007 and applies to travel performed on 

or after March 30, 2007. 

FOR FURTHER INFORMATION CONTACT: For 

clarification of content, contact Mr. Cy 


cprice-sewell on PROD1PC66 with NOTICES