4532 Federal Register / Vol. 62, No. 20 / Thursday, January 30, 1997 / Notices

hold an open meeting of the full Board

in Washington, D.C. on March 19–20,

1997. The meeting will be held at EPA

Headquarters, 401 M St. S.W.,

Washington, D.C. 20460. The room

location is Conference Room 3 North in

the EPA North Conference area. The

March 19 session will run from 9:00

a.m. to 5:00 p.m., while the March 20

session will begin at 8:30 a.m. and end

at approximately 11:30 a.m.

EFAB is chartered with providing

authoritative analysis and advice to the

EPA Administrator on environmental

finance. This will be a working meeting

to discuss and review ongoing EFAB

advisories and reports under its

Strategic Action Agenda. These

advisories and reports address

important environmental financing

issues including brownfields

redevelopment, private sector

participation in delivering

environmental services, financing tools

to pay for community-based

environmental protection, and funding

options for drinking water systems.

The meeting will be open to the

public, but seating is limited. For

further information, please contact

Eugene Pontillo, U.S. EPA on 202–260–

6044, or Joanne Lynch, U.S. EPA on

202–260–1459.

Dated: January 23, 1997.

Peter Nobert,

Acting Director, Resource Management

Division.

[FR Doc. 97–2323 Filed 1–29–97; 8:45 am]

BILLING CODE 6560–50–M

FEDERAL DEPOSIT INSURANCE

CORPORATION

Sale of U.S. Government Guaranteed

Loans and Sale Premiums; Rescission

of Policy Statement

AGENCY: Federal Deposit Insurance

Corporation (FDIC).

ACTION: Rescission of policy statement.

SUMMARY: As part of the FDIC’s

systematic review of its regulations and

written policies under section 303(a) of

the Riegle Community Development and

Regulatory Improvement Act of 1994

(CDRI), the FDIC is rescinding its policy

statement on the Sale of U.S.

Government Guaranteed Loans and Sale

Premiums (Policy Statement). The

Policy Statement provides guidance to

state nonmember banks purchasing or

selling loans guaranteed by the U.S.

government. The FDIC is rescinding the

Policy Statement because it is outmoded

and duplicative.

DATES: This Policy Statement is

rescinded January 30, 1997.

FOR FURTHER INFORMATION CONTACT:

William A. Stark, Assistant Director,

(202/898–6972), Kenton Fox, Senior

Capital Markets Specialist, (202/898–

7119), Division of Supervision; Jamey

Basham, Counsel, (202/898–7265), Legal

Division, FDIC, 550 17th Street, NW.,

Washington, DC 20429.

SUPPLEMENTARY INFORMATION: The FDIC

is conducting a systematic review of its

regulations and written policies. Section

303(a) of the CDRI (12 U.S.C. 4803(a))

requires the FDIC, the Office of the

Comptroller of the Currency, the Board

of Governors of the Federal Reserve

System, and the Office of Thrift

Supervision (federal banking agencies)

to each streamline and modify its

regulations and written policies in order

to improve efficiency, reduce

unnecessary costs, and eliminate

unwarranted constraints on credit

availability. Section 303(a) also requires

each of the federal banking agencies to

remove inconsistencies and outmoded

and duplicative requirements from its

regulations and written policies.

As part of this review, the FDIC has

determined that the Policy Statement is

outmoded and duplicative, and that the

FDIC’s written policies can be

streamlined by its elimination.

The Federal Financial Institutions

Examination Council (FFIEC) developed

the Policy Statement to provide general

supervisory guidance to insured

depository institutions that originate,

purchase, or sell loans guaranteed by

the U.S. government. The Policy

Statement also provides guidance on the

accounting treatment of servicing fees

and premiums associated with these

loans. Each of the federal banking

agencies adopted the Policy Statement,

with the FDIC’s original adoption taking

place on December 3, 1979, and the

adoption of certain amendments taking

place on April 15, 1985. 1 FDIC Law,

Regulations, and Related Acts’’ (FDIC)

5257 (1996).

In the time since the Policy Statement

was adopted, the market in governmentguaranteed loans has become more

established and well-known, and

insured depository institutions have

gained experience in dealing with it.

The supervisory guidance contained in

the Policy Statement, which is very

general in nature, is no longer necessary

in light of this experience. The

accounting guidance in the Policy

Statement is also no longer necessary in

light of subsequent clarifications in the

Instructions for Preparing Reports of

Condition and Income, and Financial

Accounting Standards Board Statement

91.

Section 303(a) of the CDRI also

requires the federal banking agencies to

work jointly towards uniformity of

guidelines implementing common

supervisory policies. FFIEC has

determined that the Policy Statement is

no longer necessary in light of the above

reasons, and the other federal banking

agencies will also take action to rescind

the Policy Statement.

For the above reasons, the Policy Statement

is rescinded.

By order of the Board of Directors.

Dated at Washington, DC, this 21st day of

January, 1997.

Federal Deposit Insurance Corporation.

Jerry L. Langley,

Executive Secretary.

[FR Doc. 97–2321 Filed 1–29–97; 8:45 am]

BILLING CODE 6714–01–P

FEDERAL ELECTION COMMISSION

Sunshine Act; Meeting

AGENCY: Federal Election Commission.

* * * * *

DATE AND TIME: Tuesday, February 4,

1997 at 10:00 a.m.

PLACE: 999 E Street NW., Washington,

DC.

STATUS: This meeting will be closed to

the public.

ITEMS TO BE DISCUSSED:

Compliance matters pursuant to 2 U.S.C.

§ 437g.

Audits conducted pursuant to 2 U.S.C.

§ 437g, § 438(b), and Title 26, U.S.C.

Matters concerning participation in civil

actions or proceedings or arbitration.

Internal personnel rules and procedures or

matter affecting a particular employee.

* * * * *

DATE & TIME: Thursday, February 6, 1997

at 10:00 a.m.

PLACE: 999 E Street NW., Washington,

DC (Ninth Floor).

STATUS: This meeting will be open to the

public.

ITEMS TO BE DISCUSSED:

Correction and Approval of Minutes.

1997 Legislative Recommendations.

Administrative Matters.

PERSON TO CONTACT FOR INFORMATION:

Mr. Ron Harris, Press Officer,

Telephone: (202) 219–4155.

Marjorie W. Emmons,

Secretary of the Commission.

[FR Doc. 97–2490 Filed 1–28–97; 2:55 pm]

BILLING CODE 6715–01–M

FEDERAL MARITIME COMMISSION

Notice of Agreement(s) Filed

The Commission hereby gives notice

of the filing of the following
Federal Register / Vol. 62, No. 20 / Thursday, January 30, 1997 / Notices 4533

agreement(s) under the Shipping Act of

1984.

Interested parties can review or obtain

copies of agreements at the Washington,

DC offices of the Commission, 800

North Capitol Street, N.W., Room 962.

Interested parties may submit comments

on an agreement to the Secretary,

Federal Maritime Commission,

Washington, DC 20573, within 10 days

of the date this notice appears in the

Federal Register.

Agreement No.: 203–011394–003.

Title: VSAO Agreement.

Parties:

Orient Overseas Container Lines

The VSA Parties:

Sea-Land Service, Inc.

P & O Nedlloyd Limited

P & O Nedlloyd B.V.

Synopsis: The proposed Agreement

provides that the Agreement will

continue in effect until the date of

termination of FMC Agreement No.

203–011171.

By order of the Federal Maritime

Commission.

Dated: January 24, 1997.

[FR Doc. 97–2246 Filed 1–29–97; 8:45 am]

BILLING CODE 6730–01–M

FEDERAL RESERVE SYSTEM

Change in Bank Control Notices;

Acquisitions of Shares of Banks 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. Once the

notices have been accepted for

processing, they will also be available

for inspection at the offices 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 February 13, 1997.

A. Federal Reserve Bank of Kansas

City (John E. Yorke, Senior Vice

President) 925 Grand Avenue, Kansas

City, Missouri 64198-0001:

1. Frank Phillips Giltner III, Omaha,

Nebraska; to acquire an additional 60

percent, for a total of 100 percent, of the

voting shares of The Avoca Company,

Avoca, Nebraska, and thereby indirectly

acquire Farmers State Bank, Omaha,

Nebraska.

Board of Governors of the Federal Reserve

System, January 24, 1997.

Jennifer J. Johnson,

Deputy Secretary of the Board.

[FR Doc. 97–2281 Filed 1–29–97; 8:45 am]

BILLING CODE 6210–01–F

Change in Bank Control Notices;

Acquisitions of Shares of Banks 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. Once the

notices have been accepted for

processing, they will also be available

for inspection at the offices 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 February 14, 1997.

A. Federal Reserve Bank of Kansas

City (John E. Yorke, Senior Vice

President) 925 Grand Avenue, Kansas

City, Missouri 64198-0001:

1. John William Lowry, Ada,

Oklahoma; to acquire an additional

19.70 percent, for a total of 39.18

percent, and Denzil Floyd Lowry, Jr.,

Ada, Oklahoma, to acquire an additional

19.70 percent, for a total of 35.44

percent, of the voting shares of

Oklahoma State Bancorporation, Inc.,

Ada, Oklahoma, and thereby indirectly

acquire Oklahoma State Bank, Ada,

Oklahoma.

Board of Governors of the Federal Reserve

System, January 27, 1997.

Jennifer J. Johnson,

Deputy Secretary of the Board.

[FR Doc. 97–2340 Filed 1–29–97; 8:45 am]

BILLING CODE 6210–01–F

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. Once the application has

been accepted for processing, it 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

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,

including whether the acquisition of the

nonbanking company can ‘‘reasonably

be expected to produce benefits to the

public, such as greater convenience,

increased competition, or gains in

efficiency, that outweigh possible

adverse effects, such as undue

concentration of resources, decreased or

unfair competition, conflicts of

interests, or unsound banking practices’’

(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 February 24,

1997.

A. Federal Reserve Bank of

Richmond (Lloyd W. Bostian, Jr., Senior

Vice President) 701 East Byrd Street,

Richmond, Virginia 23261-4528:

1. First Union Corporation, Charlotte,

North Carolina; to acquire 100 percent

of the voting shares of Boca Raton First

National Bank, Boca Raton, Florida.

B. Federal Reserve Bank of Kansas

City (John E. Yorke, Senior Vice

President) 925 Grand Avenue, Kansas

City, Missouri 64198-0001:

1. Community Bankshares, Inc.,

Denver, Colorado; to acquire 100

percent of the voting shares of First

Western National Bank, La Jara,

Colorado.

Board of Governors of the Federal Reserve

System, January 24, 1997.

Jennifer J. Johnson,

Deputy Secretary of the Board.

[FR Doc. 97–2280 Filed 1–29–97; 8:45 am]

BILLING CODE 6210–01–F