53784 Federal Register / Vol. 62, No. 200 / Thursday, October 16, 1997 / Notices

Mt. Rainier National Bank ..................................................................................................... Enumclaw ...................................................... WA

Grant National Bank .............................................................................................................. Ephrata .......................................................... WA

Everett Mutual Bank .............................................................................................................. Everett ........................................................... WA

NorthWest Telco Credit Union .............................................................................................. Everett ........................................................... WA

Rainier Pacific, a Community Credit Union .......................................................................... Fife ................................................................ WA

Empire Life Insurance Company ........................................................................................... Seattle ........................................................... WA

NW Federal Credit Union ...................................................................................................... Seattle ........................................................... WA

Seattle Telco Federal CU ...................................................................................................... Seattle ........................................................... WA

First Heritage Bank ............................................................................................................... Snohomish .................................................... WA

Horizon Credit Union ............................................................................................................. Spokane ........................................................ WA

Harborstone Credit Union ..................................................................................................... Tacoma ......................................................... WA

Westside Community Bank ................................................................................................... Tacoma ......................................................... WA

Bank of Vancouver ................................................................................................................ Vancouver ..................................................... WA

American National Bank ........................................................................................................ Cheyenne ...................................................... WY

Bank of Laramie .................................................................................................................... Laramie ......................................................... WY

First Federal Savings Bank ................................................................................................... Sheridan ........................................................ WY

II. Public Comments

To encourage the submission of

public comments on the community

support performance of FHLBank

members, on or before October 31, 1997,

each FHLBank will notify its Advisory

Council and nonprofit housing

developers, community groups, and

other interested parties in its district of

the members selected for community

support review in the 1996–97 seventh

quarter review cycle. 12 CFR

936.2(b)(2)(ii). In reviewing a member

for community support compliance, the

Finance Board will consider any public

comments it has received concerning

the member. Id. § 936.2(d). To ensure

consideration by the Finance Board,

comments concerning the community

support performance of members

selected for the 1996–97 seventh quarter

review cycle must be delivered to the

Finance Board on or before the

December 1, 1997 deadline for

submission of Community Support

Statements.

By the Federal Housing Finance Board.

William W. Ginsberg,

Managing Director.

[FR Doc. 97–26894 Filed 10–15–97; 8:45 am]

BILLING CODE 6725–01–P

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. The notices

also will 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 October

29, 1997.

A. Federal Reserve Bank of San

Francisco (Pat Marshall, Manager of

Analytical Support, Consumer

Regulation Group) 101 Market Street,

San Francisco, California 94105-1579:

1. Ronald B. Douglass, Medina,

Washington; to acquire voting shares of

Washington Commercial Bancorp,

Redmond, Washington, and thereby

indirectly acquire Redmond National

Bank, Redmond, Washington.

Board of Governors of the Federal Reserve

System, October 9, 1997.

William W. Wiles,

Secretary of the Board.

[FR Doc. 97–27308 Filed 10–15–97; 8:45 am]

BILLING CODE 6210–01–F

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.

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 November 7,

1997.

A. Federal Reserve Bank of Kansas

City (D. Michael Manies, Assistant Vice

President) 925 Grand Avenue, Kansas

City, Missouri 64198-0001:

1. Citizens Bancshares Company,

Chillicothe, Missouri; to merge with

Trenton Trust Bancshares, Inc., Trenton,

Missouri, and thereby indirectly acquire

Trenton Trust Company, Trenton,

Missouri.

Board of Governors of the Federal Reserve

System, October 9, 1997.

William W. Wiles,

Secretary of the Board.

[FR Doc. 97–27309 Filed 10–15–97; 8:45 am]

BILLING CODE 6210–01–F

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 that engages either

directly or through a subsidiary or other
Federal Register / Vol. 62, No. 200 / Thursday, October 16, 1997 / Notices 53785

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.

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 October 29, 1997.

A. Federal Reserve Bank of

Minneapolis (Karen L. Grandstrand,

Vice President) 250 Marquette Avenue,

Minneapolis, Minnesota 55480-2171:

1. U.S. Bancorp, Minneapolis,

Minnesota; to engage de novo through

its subsidiary, U.S. Bancorp

Investments, Inc., Minneapolis,

Minnesota, in underwriting and dealing

in commercial paper, municipal

revenue bonds, mortgage-backed

securities, and consumer-receivablerelated securities. See, Citicorp, J.P.

Morgan & Co., Inc., and Bankers Trust

New York Corp., 73 Fed. Res. Bull. 473

(1987); extending credit and servicing

loans, pursuant to § 225.28(b)(1) of the

Board’s Regulation Y; arranging

commercial real estate equity financing,

asset management servicing and

collection activities, and acquiring debt

in default, pursuant to §§

225.28(b)(2)(ii), (vi), and (vii) of the

Board’s Regulation Y; leasing personal

or real property, pursuant to §

225.28(b)(3) of the Board’s Regulation Y;

financial and investment advisory

activities, pursuant to § 225.28(b)(6) of

the Board’s Regulation Y; agency

transactional services for customer

investments, pursuant to § 225.28(b)(7)

of the Board’s Regulation Y; investment

transactions as principal, pursuant to §

225.28(b)(8) of the Board’s Regulation Y;

management consulting and counseling

activities, pursuant to §§

225.28(b)(9)(i)(A)(1) and (2) of the

Board’s Regulation Y; and insurance

agency activities, pursuant to §

225.28(b)(11)(vii) of the Board’s

Regulation Y.

Board of Governors of the Federal Reserve

System, October 9, 1997.

William W. Wiles,

Secretary of the Board.

[FR Doc. 97–27307 Filed 10–15–97; 8:45 am]

BILLING CODE 6210–01–F

FEDERAL RESERVE SYSTEM

Consumer Advisory Council; Notice of

Meeting of Consumer Advisory

Council

The Consumer Advisory Council will

meet on Thursday, October 30. The

meeting, which will be open to public

observation, will take place at the

Federal Reserve Board’s offices in

Washington, DC, in Terrace Room E of

the Martin Building. The meeting will

begin at 9:00 a.m. and is expected to

continue until 4:00 p.m., with a lunch

break from 12:30 p.m. until 2:00 p.m.

The Martin Building is located on C

Street, Northwest, between 20th and

21st Streets in Washington, DC.

The Council’s function is to advise

the Board on the exercise of the Board’s

responsibilities under the Consumer

Credit Protection Act and on other

matters on which the Board seeks its

advice. Time permitting, the Council

will discuss the following topics:

Special Rules Under Regulation E

(Electronic Fund Transfers): The

Depository and Delivery Systems

Committee will lead a discussion about

whether special rules are needed under

Regulation E for basic banking accounts

established by financial institutions to

provide electronic delivery of federal

benefits to individuals who currently do

not maintain deposit accounts; and if

there is a perceived need, what

characteristics should qualify an

account for special treatment.

Home Ownership Equity Protection

Act (HOEPA): The Consumer Credit

Committee will lead a discussion of

potential recommendations for

modifying the HOEPA provisions of the

Truth in Lending Act. HOEPA is

designed to protect borrowers entering

into high-cost home-secured loans. The

Council discussion will focus on

changes to achieve the act’s purpose

more effectively, such as by imposing

further restrictions to discourage

abusive creditor or broker practices,

providing more effective enforcement

tools to ensure compliance and protect

the consumer, and reducing the

complexity of the fees test used to

determine which loans are covered.

Streamlining Truth in Lending Act

and the Real Estate Settlement

Procedures Act (TILA/RESPA): To assist

in the process now under way for

reforming requirements under the TILA/

RESPA laws, the Consumer Credit

Committee will lead a discussion about

the information that consumers need

and should receive about costs when

seeking a mortgage loan. The discussion

will include an assessment of the

usefulness of disclosing the cost of

credit as an APR (annual percentage

rate) and will consider alternative cost

disclosures. It will also address timing:

when should the information be

provided to be of most benefit to

consumers.

CRA Implementation—Small

Business, Farm, and Community

Development Lending: The Bank

Regulations Committee will lead a

discussion regarding the ongoing

implementation of the revised

Community Reinvestment Act

regulations. In particular, attention will

focus on the CRA data for 1996 (which

were made public recently) regarding

small business, farm, and community

development lending by large

commercial banks and thrift

institutions. The Committee also will

discuss examination data for small and

large banks and interagency responses

to questions of interpretation that have

arisen under the revised CRA rules.

Open Session—Emerging Issues:

Council members will report on

emerging issues or trends that may have

potential impact on the Board’s role in

providing consumer protection, or on

other matters of interest.

Governor’s Report: Reserve Board

Member Laurence H. Meyer will report

on economic conditions, recent Board

initiatives, and issues of concern, with

an opportunity for questions from

Council members.

Committee Reports: Committees will

report on their Committee work and

discussions.

Other matters previously considered

by the Council or initiated by Council

members also may be discussed.

Persons wishing to submit views to

the Council regarding any of the above

topics may do so by sending written

statements to Deanna Aday-Keller,

Secretary, Consumer Advisory Council,

Division of Consumer and Community

Affairs, Board of Governors of the

Federal Reserve System, Washington,

DC 20551. Information about this

meeting may be obtained from Ms.

Aday-Keller, 202–452-6470.

Telecommunications Device for the Deaf

(TDD) users may contact Diane Jenkins,

202–452–3544.