63178 Federal Register / Vol. 62, No. 228 / Wednesday, November 26, 1997 / Notices

approval under the Paperwork

Reduction Act of 1995.

SUMMARY: In accordance with

requirements of the Paperwork

Reduction Act of 1995 (44 U.S.C. 3501

et seq.), the FDIC hereby gives notice

that it plans to submit to the Office of

Management and Budget (OMB) a

request for OMB review and approval of

the information collection system

described below.

Type of Review: Renewal of a

currently approved collection.

Title: Dispute Resolution Neutrals

Questionnaire.

Form Number: 8000/01.

OMB Number: 3064–0107.

Annual Burden:

Estimated annual number of

respondents: 100.

Estimated time per response: 0.5

hours.

Average annual burden hours: 50

hours.

Expiration Date of OMB Clearance:

November 30, 1997.

OMB Reviewer: Alexander T. Hunt,

(202) 395–7860, Office of Management

and Budget, Office of Information and

Regulatory Affairs, Washington, D.C.

20503.

FDIC Contact: Tamara R. Manly, (202)

898–7453, Office of the Executive

Secretary, Room F–4022, Federal

Deposit Insurance Corporation, 550 17th

Street N.W., Washington, D.C. 20429.

Comments: Comments on this

collection of information are welcome

and should be submitted on or before

December 26, 1997 to both the OMB

reviewer and the FDIC contact listed

above.

ADDRESSES: Information about this

submission, including copies of the

proposed collection of information, may

be obtained by calling or writing the

FDIC contact listed above.

SUPPLEMENTARY INFORMATION: The

FDIC’s Roster of Dispute Resolution

Neutrals is part of its Alternative

Dispute Resolution (ADR) program.

Parties wishing to be considered for

inclusion on the Roster must submit a

completed questionnaire containing

biological and demographic data. The

information obtained from respondent is

used to evaluate the candidate’s

qualifications to serve as neutrals in

cases involving ADR.

Dated: November 21, 1997.

Federal Deposit Insurance Corporation.

Robert E. Feldman,

Executive Secretary.

[FR Doc. 97–31088 Filed 11–25–97; 8:45 am]

BILLING CODE 6714–01–M

FEDERAL HOUSING FINANCE BOARD

[No: 97–70]

Pilot Procedures and Pilot Proposal

Initial Submission Guidelines

Whereas, the Federal Housing

Finance Board (Finance Board)

considers it appropriate to adopt a

policy that provides procedures for

processing and analyzing pilot programs

proposed by the Federal Home Loan

Banks;

Now therefore be it resolved that, the

Finance Board hereby adopts the Pilot

Procedures and Pilot Proposal Initial

Submission Guidelines attached hereto.

Dated: November 12, 1997.

By the Board of Directors of the Federal

Housing Finance Board.

Bruce A. Morrison,

Chairman.

The text of the Pilot Procedures and

Pilot Proposal Initial Submission

Guidelines follows:

Policy and Procedures For Pilot

Proposals That Support Housing and

Community Investment

Purpose: To establish procedures to

be followed by staff of the Federal

Housing Finance Board (Finance Board)

in the processing and analysis of

proposed Federal Home Loan Bank

(Bank) pilot programs through which

the Banks would make other

investments that support housing and

community development. These

procedures shall apply also to the

processing and analysis of proposed

amendments to existing pilot programs.

In establishing these procedures, it is

the Finance Board’s intent that the pilot

review process proceed in an efficient,

expeditious fashion at all stages.

Introduction: The Federal Home Loan

Bank Act (Bank Act) provides that

certain assets of each Bank not required

for advances to members, may be

invested in certain specified securities

and investments. The Finance Board has

implemented the investment provisions

of the Bank Act through its regulations

and the Financial Management Policy

(FMP). Under Section 934.1 of the

Finance Board’s regulations and Section

II.B.12 of the FMP, certain Bank

investments that support housing and

community development, and that are

not specifically authorized under the

FMP or otherwise, may be submitted to

the Finance Board for approval. This

policy establishes general procedures to

be followed by Finance Board staff in

reviewing pilot proposals or pilot

amendment proposals (Proposal) for

compliance with the statutory,

regulatory, and FMP requirements.

References: 12 U.S.C. Sections

1431(g), 1431(h), and 1436(a); 12 CFR

Section 934.1, of the Finance Board

regulations; and Section II.B.12 of the

FMP.

Procedures for Review of Proposals

I. Receipt of Proposal. Copies of a

Proposal shall be distributed to Finance

Board Directors and appropriate

Finance Board staff.

II. Review of Proposal. The Office of

Policy and the Office of General Counsel

shall review the Proposal to ensure that

it is complete and to determine whether

there is evidence of a market for the

proposal and whether it prima facie

satisfies the FMP requirements (detailed

below) and responds to the Finance

Board’s Pilot Proposal Submission

Guidelines (Attachment).

III. FMP Requirements. Section II of

the FMP specifies certain types of assets

as permissible investments to the extent

they are specifically authorized under

12 U.S.C. 1431(g), 1431(h), or 1436(a), or

to the extent a Bank has determined that

they are securities in which fiduciary or

trust funds may be invested under the

laws of the State in which the Bank is

located. Other investments that support

housing and community development

are permitted, provided that the Bank:

A. Ensures the appropriate levels of

expertise, establishes policies,

procedures, and controls, and provides

for any reserves required to effectively

limit and manage risk exposure and

preserve the Bank’s and the Federal

Home Loan Bank System’s triple-A

rating;

B. Ensures that the Bank’s

involvement in such investment activity

assists in providing housing and

community development financing that

is not generally available, or that is

available at lower levels or under less

attractive terms;

C. Ensures that such investment

activity promotes (or at the very least,

does not detract from) the cooperative

nature of the System;

D. Provides a complete description of

the contemplated investment activity

(including a comprehensive analysis of

how the above three requirements are

fulfilled) to the Finance Board; and

E. Receives written confirmation from

the Finance Board, prior to entering into

such investments, that the above

investment eligibility standards and

requirements have been satisfied.

IV. The Office of Policy and the Office

of General Counsel shall identify any

policy or legal issues or questions,

identify and discuss with the Office of

Supervision the management of any

potential risks involved in the Proposal,

discuss the Proposal with other staff as
Federal Register / Vol. 62, No. 228 / Wednesday, November 26, 1997 / Notices 63179

necessary, call Bank personnel to clarify

any uncertain or unclear aspects, and

discuss issues or questions with the

Director of the Office of Policy and the

General Counsel, as appropriate.

V. If the Office of Policy and the

Office of General Counsel deem the

Proposal incomplete, staff shall contact

the Bank and afford Bank officials the

opportunity to submit the necessary

additional information.

VI. If the Proposal is deemed

complete by the Office of Policy and the

Office of General Counsel but is not

believed to meet the requirements of the

FMP, the Director of the Office of Policy

shall notify the Bank, either formally or

informally, and afford the Bank the

opportunity either to withdraw, modify,

or insist upon the Proposal, as

structured, being published for

comment.

VII. If the Office of Policy and the

Office of General Counsel determine

that the Proposal is complete and

appears to address the requirements of

the FMP and all issues or questions are

satisfactorily resolved, the Office of

Policy and the Office of General Counsel

shall draft a Notice for publication in

the Federal Register. The Notice shall

be a summary of the Proposal that is

sufficiently detailed to allow

meaningful comments from interested

parties through a comment period.

However, it need not contain the staff’s

analysis of whether or how the proposal

meets the FMP requirements.

Publication of a Notice does not imply

any level of approval or support of the

Proposal by the Finance Board. The

Board of Directors of the Finance Board

will not review and render a decision on

the Proposal until after public

comments received on the Proposal are

reviewed and analyzed by staff, as is

discussed below.

VIII. Prior to publication, the Office of

Policy shall provide the Bank a copy of

the section of the Notice that describes

the Proposal and solicit the Bank’s

comments on the accuracy and

completeness of the section.

IX. The Notice must be approved by

the Director of the Office of Policy and

the Office of General Counsel, with

copies provided to the Directors of the

Office of Supervision and the Office of

Public Affairs, prior to going to the

Executive Secretariat and then to the

Managing Director for signature.

X. After publication of the Notice in

the Federal Register, the Office of

Policy and the Office of General Counsel

shall respond to calls from the general

public concerning the Proposal. The

Office of Policy may answer questions

about the program but requests for

written information should be referred

to the Office of General Counsel.

XI. The Office of Policy and the Office

of General Counsel shall analyze

comments received and discuss them

with other Finance Board staff as

necessary.

XII. To the extent necessary and

appropriate, the Office of Policy or the

Office of General Counsel shall contact

the Bank and request a response to the

issues or questions raised by

commenters.

XIII. Following publication of the

Notice, the Bank shall submit to the

Finance Board proposed policies and

procedures to address risks inherent in

its proposed pilot program (e.g., credit

risk, market risk, interest rate risk, and

other risks).

XIV. Prior to Finance Board

consideration, the Office of Policy and

the Office of General Counsel shall

review the proposed policies and

procedures submitted by the Bank; the

Bank’s identification of, and plans for,

managing risk; and the adequacy of

expertise and number of staff planned

by the Bank for its proposed pilot

program. If necessary, staff may request

additional information, clarification,

etc.

XV. Following review and analysis of

the Proposal, public comments received,

and the above three factors, the Office

of Policy and the Office of General

Counsel, in consultation with the Office

of Supervision, shall make a

determination as to whether to

recommend approval or disapproval to

the Board of Directors of the Finance

Board. The following shall result from

this determination:

A. A briefing shall be held for Finance

Board Directors regarding the Proposal

and staff’s recommendation.

B. A Board package shall be prepared

for the Proposal and include the staff’s

recommendation and a summary of

public comments.

C. Finance Board staff shall present

the Proposal and their recommendation

to the Board of Directors of the Finance

Board.

XVI. The Board of Directors of the

Finance Board will take action on the

Proposal. If approved, the Board

resolution approving the Proposal shall

indicate that the approval is subject to

the pilot program passing a safety and

soundness examination conducted by

the Office of Supervision.

XVII. The Office of Policy shall

prepare a letter for signature by the

Chairman or Managing Director to

inform the Bank of the Finance Board’s

decision on the Proposal.

XVIII. If the Board of Directors has

approved the Proposal, program

implementation shall be contingent

upon confirmation by the Office of

Supervision that the appropriate

program policies, procedures, and

controls have been implemented by the

FHLBank.

Pilot Proposal Initial Submission

Guidelines

The following criteria should be

addressed and included in a Bank’s

pilot proposal or pilot amendment

proposal (Proposal) submitted to the

Finance Board for approval.

1. Board Resolution: A resolution

from the Bank’s board of directors

approving the Proposal and authorizing

its submission to the Finance Board.

2. Description of Proposal: A

complete description and discussion of

the Proposal, including each of the

following:

a. Overall goals and objectives

b. Pilot size and basis for determination

c. Pilot operations

d. Profitability goals and timeline

e. The marketplace: Potential competitors

(size, sophistication, typical staffing,

expertise, etc.) typical margins, historical loss

experience, and whether marketplace is

expanding or contracting and why.

f. Discuss which components of the

program the Bank will have to create, hire,

etc. This could include personnel,

management, policies, procedures, hardware,

software, facilities, etc.

g. How the Proposal would benefit

membership

h. Expected benefits for the end user of the

pilot product

i. Identification and management of

potential risks

j. Explanation/basis for loan loss or risk

reserves anticipated

3. Compliance Authorization Criteria:

Explanation of how the Proposal meets

the requirements of Section II B.12 of

the Finance Board’s Financial

Management Policy. Please provide

specific responses for each subpart. This

should also include a legal opinion that

the proposed activity may be legally

authorized by the Finance Board.

4. Pilot Documentation, Support and

Reporting: Discussion of anticipated

program documentation, support, and

reporting, including each of the

following:

a. Evidence of a market for the pilot

product. This could include letters of

support from anticipated participants,

market surveys, etc., and should include

anticipated participants’ estimates of the

dollar volume of their participation

within the first three years of the

program.

b. Examples of required

documentation between the Bank,

members and other related

counterparties, as well as any legal

agreements drafted for the pilot.
63180 Federal Register / Vol. 62, No. 228 / Wednesday, November 26, 1997 / Notices

c. The management structure for

operating the pilot program. Identify the

management, staff and directors who

will be assigned to oversee and operate

the pilot and discuss their expertise.

Their resumes should be included with

the Proposal. Discuss what additional

personnel will need to be hired.

d. A listing, description, and

examples of management reports

necessary to adequately monitor

ongoing pilot activities.

5. Measurement of Pilot Success: A

discussion of criteria the Bank intends

to utilize to measure the success of the

program, such as:

a. When the Bank anticipates

reviewing the program and making a

decision on whether to seek permanent

or other status for the pilot.

b. The existence of a sunset provision.

c. The factors or conditions that might

trigger a decision to terminate the pilot.

[FR Doc. 97–30964 Filed 11–25–97; 8:45 am]

BILLING CODE 6725–01–P

FEDERAL MARITIME COMMISSION

Notice of Agreement(s) Filed

The Commission hereby gives notice

of the filing of the following

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 692.

Interested parties may submit comments

on an agreement to the Secretary,

Federal Maritime Commission,

Washington, DC 20573, by December 8,

1997.

Agreement No.: 202–008900–063.

Title: The ‘‘8900’’ Lines Agreement.

Parties:

The National Shipping Company of

Saudi Arabia

United Arab Shipping Company

(S.A.G.)

DSR-Senator Lines

A.P. Moller-Maersk Line

Sea-Land Service, Inc.

P&O Nedlloyd Limited

Synopsis: The proposed modification

to Article 14 of the Agreement

authorizes any party or any group of

parties to enter into individual service

contracts and deletes the current

prohibition on such contracts. The

modification also expands and clarifies

current guidelines applicable to service

contracts.

Agreement No.: 217–011595.

Title: TBS/Oceanica Space Charter

Agreement.

Parties:

TBS North America Liner, Ltda.

(‘‘TBS’’)

Comercial Maritima Oceanica Ltd.

(‘‘Oceanica’’)

Synopsis: The proposed Agreement

authorizes Oceanica to charter space to

TBS on a maximum of six vessels it will

operate from United States ports, and

U.S. inland and coastal points served

via such ports, to ports and points in

Central America, South America and the

Caribbean Sea. It also authorizes the

parties to agree on transshipment

arrangements and to cooperate with

respect to terminals and equipment.

Dated: November 20, 1997.

By Order of the Federal Maritime

Commission.

Joseph C. Polking,

Secretary.

[FR Doc. 97–30978 Filed 11–25–97; 8:45 am]

BILLING CODE 6730–01–M

FEDERAL MARITIME COMMISSION

[Docket No. 97–22]

Bermuda Container Line Ltd. v. SHG

International Sales Inc. FX Coughlin

Co., and Clark Building Systems, Inc.,

Notice of Filing of Complaint and

Assignment

Notice is given that a complaint filed

by Bermuda Container Line, Ltd.,

(‘‘Complainant’’) against Respondents

SHG International Sales Inc. (‘‘SHG’’),

FX Coughlin Co. (‘‘Coughlin’’), and

Clark Building Systems, Inc. (‘‘Clark’’)

was served November 20, 1997.

Complainant alleges that (1) Respondent

SHG violated sections 8 and 23 or,

alternatively, section 19, and section

10(a)(1) of the Shipping Act of 1984

(‘‘the Act’’), 46 U.S.C. app. §§ 1707 and

1721 or 1718, and 1709(a)(1), by failing

to file a non-vessel operating common

carrier (‘‘NVO’’) tariff or bond or

performing freight forwarding services

without a forwarder license, and by

concealing the identity of the shipper

with respect to a shipment from Clark,

PA to Bermuda, entering into a credit

agreement with no intention of paying

the freight and misrepresenting itself as

the shipper; (2) Respondent Coughlin

violated section 19 of the Act and 46

CFR §§ 510.21(c), (e) and (f), by falsely

certifying it had processed the

shipment’s Bill of Lading (‘‘BL’’) when

it knew or should have known that the

BLs designated shipper (SHG) could not

be a shipper, seeking a commission from

Complainant by misrepresentation and

permitting SHG to use Coughlin’s

forwarding license; and (3) Respondent

Clark violated section 10(a)(1) of the Act

by delivering cargo to Complainant

when it knew or should have known

that SHG had no tariff or NVO bond on

file with the Commission and failing to

inform Complainant of the facts or to

pay the shipment’s freight.

This proceeding has been assigned to

the office of Administrative Law Judges.

Hearing in this matter, if any is held,

shall commence within the time

limitations prescribed in 46 CFR 502.61,

and only after consideration has been

given by the parties and the presiding

officer to the use of alternative forms of

dispute resolution. The hearing shall

include oral testimony and crossexamination in the discretion of the

presiding officer only upon proper

showing that there are genuine issues of

material fact that cannot be resolved on

the basis of sworn statements, affidavits,

depositions, or other documents or that

the nature of the matter in issue is such

that an oral hearing and crossexamination are necessary for the

development of an adequate record.

Pursuant to the further terms of 46 CFR

502.61, the initial decision of the

presiding officer in this proceeding shall

be issued by November 20, 1998, and

the final decision of the Commission

shall be issued by March 22, 1999.

Joseph C. Polking,

Secretary.

[FR Doc. 97–31032 Filed 11–25–97; 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. 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

December 10, 1997.

A. Federal Reserve Bank of Kansas

City (D. Michael Manies, Assistant Vice

President) 925 Grand Avenue, Kansas

City, Missouri 64198-0001:

1. Wallace Company, Limited

Partnership, Cheyenne, Wyoming; to