19918 Federal Register / Vol. 63, No. 77 /Wednesday, April 22, 1998 / Notices

from NTIS, please provide its name and

NTIS Publication Number (PB). The

NTIS Publication for this version of the

Pesticide Data Submitters List is PB

127988.

III. Electronic Access

The Pesticide Data Submitters List is

available on EPA’s World Wide Web

(WWW) site on the Internet. The

Internet address of EPA’s web site is

www.epa.gov.

To Access the Data Submitters List

from the EPA Home Page, select

‘‘Databases and Software’’. From the

next page, select ‘‘Media Specific’’.

The Pesticide Data Submitters List

may also be found by searching for the

keywords ‘‘data submitters list’’ from

the EPA Home Page, or may be accessed

directly on the EPA web site, by going

directly the address listed below. Note

that this address is case sensitive. http:/

/www.epa.gov./opppmsd1/

datasubmitterslist/index.html

List of Subjects

Environmental protection,

Administrative practice and procedure,

Pesticides and pests, Reporting and

recordkeeping requirements.

Dated: April 2, 1998.

Linda A. Travers,

Director, Information Resources and Services

Division, Office of Pesticide Programs.

[FR Doc. 98–10148 Filed 4–21–98; 8:45 am]

BILLING CODE 6560–50–F

FARM CREDIT ADMINISTRATION

[BM–9–APR–98–02]

Financial Institution Rating System

AGENCY: Farm Credit Administration.

ACTION: Policy statement.

SUMMARY: The Farm Credit

Administration (FCA or Agency),

through the FCA Board (Board), has

adopted at its April 9, 1998, Board

meeting a policy statement on its

financial institution rating system. The

Financial Institution Rating System

(FIRS) shall be the rating system used by

FCA examiners for evaluating and

categorizing the safety and soundness of

Farm Credit System (System)

institutions on an ongoing, uniform and

comprehensive basis. The FIRS will

provide valuable information to the

Agency for assessing risk and allocating

resources based on the safety and

soundness of regulated institutions.

EFFECTIVE DATE: April 9, 1998.

FOR FURTHER INFORMATION CONTACT:

Andrew D. Jacob, Senior Policy Analyst,

Office of Policy and Analysis, Farm

Credit Administration, McLean, Virginia

22102–5090, (703) 883–4498, TDD (703)

883–4444; or Wendy R. Laguarda,

Senior Attorney, Office of General

Counsel, Farm Credit Administration,

McLean, Virginia 22102–5090, (703)

883–4020, TDD (703) 883–4444; or

Gregory Yowell, Senior Financial

Analyst, Office of Examination, Farm

Credit Administration, McLean, Virginia

22102–5090, (703) 883–4483, TDD (703)

883–4444.

SUPPLEMENTARY INFORMATION: The text of

the Board’s policy statement on the

financial institution rating system is set

forth below in its entirety.

Policy Statement on the Financial

Institution Rating System, BM–9–APR–

98–02, FCA–PS–72

Effective Date: April 9, 1998.

Effect on Previous Actions: None.

Source of Authority: Sections 5.9 and

5.17 of the Farm Credit Act of 1971, as

amended.

I. Policy

The Financial Institution Rating

System (FIRS) shall be the rating system

used by Farm Credit Administration

(FCA or Agency) examiners for

evaluating and categorizing the safety

and soundness of Farm Credit System

(System) institutions on an ongoing,

uniform and comprehensive basis.

The FIRS will provide valuable

information to the Agency for assessing

risk and allocating resources based on

the safety and soundness of regulated

institutions. Ratings assigned to

regulated institutions will be adjusted

periodically so that they accurately

reflect the condition of institutions.

II. Standards and Implementation

Based on the conclusions reached in

the ongoing examination of an

institution’s financial, managerial, and

operational condition, FCA examiners

will assign ratings to each of the six

rating factor components and assign a

composite rating that reflects the

condition and overall safety and

soundness of the System institution.

These ratings shall be reported to the

institution’s Board of Directors and

Chief Executive Officer.

Component and composite ratings are

assigned on a 1 to 5 numerical scale. A

1-rating indicates the strongest

performance and management practices

and the least degree of supervisory and

regulatory concern, while a 5-rating

indicates an extremely high, immediate

or near-term probability of failure and

unsatisfactory management practices

and, therefore, the highest degree of

concern.

Although each institution has its own

examination and supervisory issues and

concerns, the FIRS is structured to

evaluate all significant financial asset

quality and management factors

common to all System institutions.

Examination criteria for each of the

rating components is defined in the FCA

Examination Manual which is available

to the public. The FCA Examination

Manual also incorporates the evaluative

criteria under which component and

composite ratings are assigned.

Composite Rating

The FIRS provides a general

framework for assimilating and

evaluating all significant financial,

managerial and operational factors to

assign a composite rating to each

System institution. The composite

rating is based on a qualitative and

quantitative analysis of the factors

comprising each of the following

components, the interrelationships

among components, and the overall

level of concern for those risks that

affect a System institution.

The composite rating does not assume

a predetermined weight for each

component nor does it represent an

arithmetic average of assigned

component ratings. The weight given to

any individual component in

determining composite ratings varies

depending on the degree of concern

associated with the component and the

threat posed to the overall safety and

soundness of the institution.

Component Ratings

Listed below is a brief description of

the FIRS components and the more

common evaluative criteria and factors

considered under each component.

• Capital—A System institution is

expected to maintain capital

commensurate with the nature and

extent of risks to the institution and the

ability of management to identify,

measure, monitor, and control these

risks. The capital component is based

on an evaluation of an institution’s

capacity to absorb losses and provide for

future growth. An evaluation of capital

relies on many factors such as

regulatory capital requirements, trends,

portfolio and institutional risk, growth,

adequacy of risk funds, management

capability, and other factors as

appropriate.

• Assets—This component is based

on an assessment of both the quality of

the current portfolio and the quality of

the associated management processes

that substantially impact the quality of

assets. An assessment of assets relies on
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.