Federal Register / Vol. 63, No. 77 /Wednesday, April 22, 1998 / Notices 19919

many factors such as loan portfolio

management, investment portfolio

management, loan portfolio trends, risk

identification processes, credit

administration, allowance for loan

losses, and other factors that affect the

quality, performance, income producing

capacity, and stability of assets.

• Management—The management

component is based on an assessment of

board and management performance

against all factors considered necessary

to operate the institution within

accepted banking practices and in a safe

and sound manner in accordance with

applicable laws, regulations, and

guidelines.

• Earnings—This component is based

on an evaluation of the quantity,

quality, and sustainability of the

institution’s earning performance. An

evaluation of earnings considers factors

such as the level of earnings,

composition and quality of net income,

stability of earnings performance,

relationship to portfolio risk, quality of

earnings management, and other factors

as deemed appropriate.

• Liquidity—The liquidity component

is based on an evaluation of an

institution’s capacity to promptly meet

the demand for payment of its

obligations, fund its loan portfolio, and

readily meet the reasonable credit needs

of the territory served. An evaluation of

liquidity also considers continued

access to funding, the existence of

secondary sources of liquidity, and

other factors as deemed appropriate.

• Sensitivity—This component

reflects the degree to which changes in

interest rates may affect earnings or the

market value of an institution’s equity.

An evaluation of this component

considers such factors as the size and

complexity of the institution’s financial

activities, the level of interest rate risk

exposure relative to capital and

earnings, investment and derivatives

activities, management’s ability to

identify, measure, monitor, project, and

control interest rate risk, and other

factors as deemed appropriate.

III. Responsibility

It is the responsibility of the Chief

Examiner to ensure that the components

used to support the composite ratings

are reviewed periodically to make

certain they reflect the material matters

that impact the safety and soundness of

institutions. In this respect, the Chief

Examiner shall make recommendations

to the FCA Board to add or delete

components as necessary. Specific

evaluative criteria and factors for

determining component and composite

ratings shall be established by the Chief

Examiner and incorporated in the FCA

Examination Manual or by other means

as appropriate. The Chief Examiner is

responsible for ensuring that ratings

assigned to institutions are

commensurate with and accurately

reflect the risk in the institutions.

IV. Reporting

At least quarterly, the Chief Examiner

will provide the FCA Board a report of

the composite rating of all FCS

institutions.

V. Implementation

System institutions examined after

the date this policy is adopted by the

FCA Board will be assigned composite

and component ratings in accordance

with this Policy Statement.

Dated: April 16, 1998.

Floyd Fithian,

Secretary, Farm Credit Administration Board.

[FR Doc. 98–10630 Filed 4–21–98; 8:45 am]

BILLING CODE 6705–01–P

FEDERAL MARITIME COMMISSION

Ocean Freight Forwarder License

Applicants

Notice is hereby given that the

following applicants have filed with the

Federal Maritime Commission

applications for licenses as ocean freight

forwarders pursuant to section 19 of the

Shipping Act of 1984 (46 U.S.C. app.

1718 and 46 CFR 510).

Persons knowing of any reason why

any of the following applicants should

not receive a license are requested to

contact the Office of Freight Forwarders,

Federal Maritime Commission,

Washington, D.C. 20573.

International Transportation Services,

18610 SE 24th Street, Vancouver, WA

98683, Elizabeth Wilkening, Sole

Proprietor

Reliance Shipping Group, Rt. 5 Box

1018, 5353 I–35, Red Oak, TX 75154,

Officers: Don McNally, Partner, Gary

Childs, Partner

M.A.F.T.A. Inc. d/b/a/ Servicios

Maritimos, 11811 North Freeway,

Suite 210, Houston, TX 77267,

Officers: Roberto L. Stanley,

President; Diana M. Stanley, Vice

President

Dated: April 16, 1998.

Joseph C. Polking,

Secretary.

[FR Doc. 98–10587 Filed 4–21–98; 8:45 am]

BILLING CODE 6730–01–M

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 May 18, 1998.

A. Federal Reserve Bank of Atlanta

(Lois Berthaume, Vice President) 104

Marietta Street, N.W., Atlanta, Georgia

30303-2713:

1. Premier Bancshares, Inc., Atlanta,

Georgia; to merge with The Bank

Holding Company, Griffin, Georgia, and

thereby indirectly acquire The Bank of

Spaulding County, Griffin, Georgia, and

First Community Bank of Henry County,

McDonough, Georgia.

Board of Governors of the Federal Reserve

System, April 17, 1998.

Jennifer J. Johnson,

Deputy Secretary of the Board.

[FR Doc. 98–10691 Filed 4–21–98; 8:45 am]

BILLING CODE 6210–01–F

FEDERAL RESERVE SYSTEM

Sunshine Act Meeting

AGENCY HOLDING THE MEETING: Board of

Governors of the Federal Reserve

System.