20992 Federal Register / Vol. 66, No. 81 / Thursday, April 26, 2001 / Notices

and terms and house prices for areas

smaller than the entire country.

Statutory references to the MIRS

include the following:

• Pursuant to their respective organic

statutes, Fannie Mae and Freddie Mac

use the MIRS results as the basis for the

annual adjustments to the maximum

dollar limits for their purchase of

conventional mortgages. See 12 U.S.C.

1454(a)(2) and 1717(b)(2). The Fannie

Mae and Freddie Mac limits were first

tied to the MIRS by the Housing and

Community Development Act of 1980.

See Pub. L. 96–399, tit. III, sec. 313(a)–

(b), 94 Stat. 1644–1645 (Oct. 8, 1980). At

that time, the nearly identical statutes

required Fannie Mae and Freddie Mac

to base the dollar limit adjustments on

‘‘the national average one-family house

price in the monthly survey of all major

lenders conducted by the [FHLBB].’’ See

12 U.S.C. 1454(a)(2) and 1717(b)(2)

(1989). When Congress abolished the

FHLBB in 1989, it replaced the

reference to the FHLBB in the Fannie

Mae and Freddie Mac statutes with a

reference to the Finance Board. See

FIRREA, tit. VII, sec. 731(f)(1) and

(f)(2)(B), 103 Stat. 433.

• Also in 1989, Congress required the

Chairperson of the Finance Board to

take necessary actions to ensure that

indices used to calculate the interest

rate on adjustable rate mortgages

(ARMs) remain available. See FIRREA,

tit. IV, sec. 402(e)(3)–(4), 103 Stat. 183,

codified at 12 U.S.C. 1437 note. At least

one ARM index, known as the National

Average Contract Mortgage Rate for the

Purchase of Previously Occupied Homes

by Combined Lenders, is derived from

the MIRS data. The statute permits the

Finance Board to substitute a

substantially similar ARM index after

notice and comment only if the new

ARM index is based upon data

substantially similar to that of the

original ARM index and substitution of

the new ARM index will result in an

interest rate substantially similar to the

rate in effect at the time the new ARM

index replaces the existing ARM index.

See 12 U.S.C. 1437 note.

• Congress indirectly connected the

high cost area limits for mortgages

insured by the Federal Housing

Administration (FHA) of the

Department of Housing and Urban

Development to the MIRS in 1994 when

it statutorily linked these FHA

insurance limits to the purchase price

limitations for Fannie Mae. See Pub. L.

103–327, 108 Stat. 2314 (Sept. 28, 1994),

codified at 12 U.S.C. 1709(b)(2)(A)(ii).

• The Internal Revenue Service uses

the MIRS data in establishing ‘‘safeharbor’’ limitations for mortgages

purchased with the proceeds of

mortgage revenue bond issues. See 26

CFR 6a.103A–2(f)(5).

• Statutes in several states and U.S.

territories, including California,

Michigan, Minnesota, New Jersey,

Wisconsin and the Virgin Islands, refer

to, or rely upon, the MIRS. See, e.g., Cal.

Rev. & Tax Code 439.2 (value of owneroccupied single family dwellings for tax

purposes); Cal. Civ. Code 1916.7 and

1916.8 (mortgage rates); Mich. Comp.

Laws 445.1621(d) (mortgage index

rates); Minn. Stat. 92.06 (payments for

state land sales); N.J. Rev. Stat. 31:1–1

(interest rates); Wis. Stat. 138.056

(variable loan rates); V.I. Code Ann. tit.

11, sec. 951 (legal rate of interest).

The Finance Board uses the

information collection to produce the

MIRS and for general statistical

purposes and program evaluation.

Economic policy makers use the MIRS

data to determine trends in the mortgage

markets, including interest rates, down

payments, terms to maturity, terms on

ARMs and initial fees and charges on

mortgage loans. Other federal banking

agencies use the MIRS results for

research purposes. Information

concerning the MIRS is published

regularly on the Finance Board’s

website (http://fhfb.gov/mirs) and in

press releases, in the popular trade

press, and in publications of other

federal agencies.

The likely respondents include a

sample of 307 savings associations,

mortgage companies, commercial banks

and savings banks. The information

collection requires each respondent to

complete FHFB Form 10–91 on a

monthly basis.

The OMB number for the information

collection is 3069–0001. The OMB

clearance for the information collection

expires on April 30, 2001.

B. Burden Estimate

The Finance Board estimates the total

annual average number of respondents

at 307, with 12 responses per

respondent. The estimate for the average

hours per response is 1.0 hour. The

estimate for the total annual hour

burden is 3,684 hours (307 respondents

× 12 responses/respondent ×

approximately 1.0 hour).

C. Comment Request

In accordance with the requirements

of 5 CFR 1320.8(d), the Finance Board

published a request for public

comments regarding this information

collection in the Federal Register on

January 10, 2001. See 66 FR 1989 (Jan.

10, 2001). The 60-day comment period

closed on March 12, 2001. The Finance

Board received one public comment

encouraging collection of the data in

order to continue publication of the

index. Written comments are requested

on: (1) Whether the collection of

information is necessary for the proper

performance of Finance Board

functions, including whether the

information has practical utility; (2) the

accuracy of the Finance Board’s

estimates of the burdens of the

collection of information; (3) ways to

enhance the quality, utility, and clarity

of the information collected; and (4)

ways to minimize the burden of the

collection of information on

respondents, including through the use

of automated collection techniques or

other forms of information technology.

Comments may be submitted to OMB in

writing at the address listed above.

By the Federal Housing Finance Board.

Dated: April 19, 2001.

James L. Bothwell,

Managing Director.

[FR Doc. 01–10406 Filed 4–25–01; 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,

NW., Room 940. 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.: 011138–001

Title: Greater Bali Hai Service

Parties:

Mitsui O.S.K. Lines, Ltd.

Nippon Yusen Kaisha

China Navigation Company Limited

Kyowa Shipping Co., Ltd.

Synopsis: The proposed agreement

modification adds Kyowa Shipping as a

party to the joint service and updates

the agreement language to eliminate

unnecessary or obsolete language.

Agreement No.: 011527–006

Title: Independent Carriers Alliance

Parties:

CMA–CGM, S.A.

Hanjin Shipping Co., Ltd.

Montemar Maritima S.A.

Senator Lines GmbH

Zim Israel Navigation Company Ltd.

Synopsis: The proposed modification

(1) deletes DiGregorio Navagacao Ltda.

as a party; (2) adds CMA–CGM as a

party; (3) deletes reference to DSR in

Federal Register / Vol. 66, No. 81 / Thursday, April 26, 2001 / Notices 20993

Senator Lines’ name; (4) revises

Montemar Maritima S.A.’s name by

deleting its d/b/a reference; (5) restates

the vessel allocation and space

contribution of each of the parties; (6)

revises withdrawal notice provisions;

(7) deletes reference to Agreement No.

011569 between DiGregorio and

Amazon Line; and (8) deletes certain

restrictions on the charter of space,

rationalization of sailing or other

cooperative arrangements with outside

parties but retains the right of first

refusal for other agreement parties with

respect to the chartering of any excess

space by any member.

Agreement No.: 011760

Title: Discovery Cruise Line/Seaboard

Space Charter and Sailing

Agreement

Parties: Discovery Sun Partnership, d/b/

a Discovery Cruise Line

Seaboard Marine, Ltd.

Synopsis: The proposed agreement

authorizes the parties to share vessel

space in the trade between U.S. Atlantic

ports, including Puerto Rico, and ports

in the Bahamas.

Agreement No.: 011761

Title: CMA CGM/Norasia Transpacific

Loop 3 Slot Charter Agreement

Parties:

CMA CGM, S.A.

Norasia Container Lines Limited

Synopsis: The proposed agreement

establishes a vessel-sharing agreement

between the parties in the trade between

the West Coast of the United States and

ports in the Far East in the Japan/

Singapore/South East Asia range.

By Order of the Federal Maritime

Commission.

Dated: April 20, 2001.

Bryant L. VanBrakle,

Secretary.

[FR Doc. 01–10287 Filed 4–25–01; 8:45 am]

BILLING CODE 6730–01–P

FEDERAL MARITIME COMMISSION

Ocean Transportation Intermediary

License Applicant

Notice is hereby given that the

following applicant has filed with the

Federal Maritime Commission an

application for licenses as Non-Vessel

Operating Common Carrier and Ocean

Freight Forwarder—Ocean

Transportation Intermediary pursuant to

section 19 of the Shipping Act of 1984

as amended (46 U.S.C. app. 1718 and 46

CFR 515).

Persons knowing of any reason why

the following applicants should not

receive a license are requested to

contact the Office of Transportation

Intermediaries, Federal Maritime

Commission, Washington, DC 20573.

Non-Vessel Operating Common

Carrier and Ocean Freight Forwarder

Transportation Intermediary Applicant:

Alpico International Inc., 13281 Eastern

Avenue, #2, Palmetto, FL 34221

Officers: Ildes R. Alpizar, President

(Qualifying Individual), Edward

Alpizar, Vice President

Dated: April 20, 2001.

Bryant L. VanBrakle,

Secretary.

[FR Doc. 01–10289 Filed 4–25–01; 8:45 am]

BILLING CODE 6730–01–P

FEDERAL MARITIME COMMISSION

Ocean Transportation Intermediary

License Revocations

The Federal Maritime Commission

hereby gives notice that the following

Ocean Transportation Intermediary

licenses have been revoked pursuant to

section 19 of the Shipping Act of 1984

(46 U.S.C. app. 1718) and the

regulations of the Commission

pertaining to the licensing of Ocean

Transportation Intermediaries, effective

on the corresponding dates shown

below:

License Number: 16629N.

Name: Cargomania International, Inc.

Address: 161–15 Rockaway Blvd.,

Suite 102, Jamaica, NY 11434.

Date Revoked: March 15, 2001.

Reason: Failed to maintain a valid

bond.

License Number: 13141N.

Name: North Star Airlines, Inc. d/b/a

North Star Ocean Services.

Address: Cargo Bldg., 68 JFK

International Airport, Jamaica, NY

11430.

Date Revoked: March 17, 2001.

Reason: Failed to maintain a valid

bond.

Sandra L. Kusumoto,

Director, Bureau of Consumer Complaints

and Licensing.

[FR Doc. 01–10288 Filed 4–25–01; 8:45 am]

BILLING CODE 6730–01–P

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

(12 U.S.C. 1843). Unless otherwise

noted, nonbanking activities will be

conducted throughout the United States.

Additional information on all bank

holding companies may be obtained

from the National Information Center

website at www.ffiec.gov/nic/.

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 21, 2001.

A. Federal Reserve Bank of New

York (Betsy Buttrill White, Senior Vice

President) 33 Liberty Street, New York,

New York 10045–0001:

1. First BanCorp, San Juan, Puerto

Rico; to acquire 8.7 percent of the voting

shares of Southern Security Bank

Corporation, Hollywood, Florida, and

thereby indirectly acquire voting shares

of Southern Security Bank, Hollywood,

Florida.

B. Federal Reserve Bank of Dallas

(W. Arthur Tribble, Vice President) 2200

North Pearl Street, Dallas, Texas 75201–

2272:

1. Quinlan Bancshares, Inc., Quinlan,

Texas; to acquire 100 percent of the

voting shares of Lone Oak Financial

Corporation, Lone Oak, Texas, and

thereby indirectly acquire Lone Oak

State Bank, Lone Oak, Texas.

Board of Governors of the Federal Reserve

System, April 20, 2001.

Robert deV. Frierson

Associate Secretary of the Board.

[FR Doc. 01–10297 Filed 4–25–01; 8:45 am]

BILLING CODE 6210–01–S