39518 Federal Register / Vol. 87, No. 126 / Friday, July 1, 2022 / Notices 

Environmental Protection Agency, 1200 

Pennsylvania Ave. NW, Washington, DC 

20460–0001; telephone number: (202) 

566–0684; email address: 

kyprianou.rose@epa.gov. 

SUPPLEMENTARY INFORMATION: 

I. Does this action apply to me? 

This action is directed to the public 

in general and may be of interest to a 

wide range of stakeholders including 

environmental, farm worker, and 

agricultural advocates; the chemical 

industry; pesticide users; and members 

of the public interested in the 

integration of tolerance reassessment 

with the reregistration process, and the 

status of various regulatory activities 

associated with reregistration and 

tolerance reassessment. Given the broad 

interest, the Agency has not attempted 

to identify all the specific entities that 

may be interested in this action. 

II. What action is the Agency taking? 

EPA is announcing the availability of 

EPA’s progress report in meeting its 

performance measures and goals for 

pesticide reregistration during fiscal 

year 2019. The report for fiscal year 

2019 discusses the completion of 

tolerance reassessment and describes 

the status of various regulatory activities 

associated with reregistration. The 2019 

report also provides the total number of 

products reregistered and products 

registered under the ‘‘fast-track’’ 

provisions of FIFRA. 

III. What is EPA’s authority for taking 

this action? 

The Federal Insecticide, Fungicide, 

and Rodenticide Act (FIFRA), 7 U.S.C. 

136 et seq., requires EPA to publish 

information about EPA’s annual 

achievements in meeting its 

performance measures and goals for 

pesticide reregistration. 

IV. How can I get a copy of the report? 

1. Docket. The 2019 report is available 

at https://www.regulations.gov, under 

docket ID number EPA–HQ–OPP–2014– 

0125. 

2. EPA Website. The 2019 report is 

also available on EPA’s website at 

https://www.epa.gov/pesticidereevaluation/reregistration-and-otherreview-programs-predating-pesticideregistration. 

V. Can I comment on this report? 

EPA welcomes input from 

stakeholders and the general public, see 

ADDRESSES for instructions. Any written 

comments received will be taken into 

consideration in the event that EPA 

determines that further action is 

warranted. EPA does not expect this 

report to lead to any particular action, 

and therefore is not seeking particular 

public comment. 

1. Submitting Confidential Business 

Information (CBI). Do not submit 

Confidential Business Information (CBI) 

information to EPA through 

regulations.gov or through email. 

Clearly mark the part or all of the 

information that you claim to be CBI. 

For CBI information in a disk or CD– 

ROM that you email to EPA, mark the 

outside of the disk or CD–ROM as CBI 

then identify electronically within the 

disk or CD–ROM the specific 

information that is claimed as CBI. In 

addition to one complete version of the 

comment that includes information 

claimed as CBI, a copy of the comment 

that does not contain the information 

claimed as CBI must be submitted for 

inclusion in the public docket. 

Information so marked will not be 

disclosed except in accordance with 

procedures set forth in 40 CFR part 2. 

2. Tips for preparing your comments. 

When preparing your comments, see the 

commenting tips at https://

www.epa.gov/dockets/commenting-epadockets#tips. 

Authority: 7 U.S.C. 136a–1(l). 

Dated: June 28, 2022. 

Michal Freedhoff, 

Assistant Administrator, Office of Chemical 

Safety and Pollution Prevention. 

[FR Doc. 2022–14149 Filed 6–30–22; 8:45 am] 

BILLING CODE 6560–50–P 

FEDERAL DEPOSIT INSURANCE 

CORPORATION 

Notice to All Interested Parties of 

Intent To Terminate Receiverships 

Notice is hereby given that the 

Federal Deposit Insurance Corporation 

(FDIC or Receiver), as Receiver for the 

institutions listed below, intends to 

terminate its receivership for said 

institutions. 

NOTICE OF INTENT TO TERMINATE RECEIVERSHIPS

Fund Receivership name City State 

Date of 

appointment of 

receiver 

10074 Founders Bank .............................. Worth ............................................. IL ................................................... 07/02/2009 

The liquidation of the assets for each 

receivership has been completed. To the 

extent permitted by available funds and 

in accordance with law, the Receiver 

will be making a final dividend 

payment to proven creditors. 

Based upon the foregoing, the 

Receiver has determined that the 

continued existence of the receiverships 

will serve no useful purpose. 

Consequently, notice is given that the 

receiverships shall be terminated, to be 

effective no sooner than thirty days after 

the date of this notice. If any person 

wishes to comment concerning the 

termination of any of the receiverships, 

such comment must be made in writing, 

identify the receivership to which the 

comment pertains, and be sent within 

thirty days of the date of this notice to: 

Federal Deposit Insurance Corporation, 

Division of Resolutions and 

Receiverships, Attention: Receivership 

Oversight Section, 600 North Pearl, 

Suite 700, Dallas, TX 75201. 

No comments concerning the 

termination of the above-mentioned 

receiverships will be considered which 

are not sent within this timeframe. 

(Authority: 12 U.S.C. 1819) 

Federal Deposit Insurance Corporation. 

Dated at Washington, DC, on June 28, 2022. 

James P. Sheesley, 

Assistant Executive Secretary. 

[FR Doc. 2022–14136 Filed 6–30–22; 8:45 am] 

BILLING CODE 6714–01–P 

FEDERAL DEPOSIT INSURANCE 

CORPORATION 

Federal Deposit Insurance Corporation 

Amended Restoration Plan 

AGENCY: Federal Deposit Insurance 

Corporation (FDIC). 

ACTION: Notice. 

The Federal Deposit Insurance Act 

(FDI Act) requires that the FDIC’s Board 


khammond on DSKJM1Z7X2PROD with NOTICES
Federal Register / Vol. 87, No. 126 / Friday, July 1, 2022 / Notices 39519 

1 12 U.S.C. 1817(b)(3)(B) and (E). 

2See 85 FR 59306 (Sept. 21, 2020). Under the FDI 

Act, a restoration plan must restore the reserve ratio 

to at least 1.35 percent within 8 years of 

establishing the plan, absent extraordinary 

circumstances. 12 U.S.C. 1817(b)(3)(E)(ii). 

3As used in this Notice, the term ‘‘bank’’ is 

synonymous with the term ‘‘insured depository 

institution’’ as it is used in section 3(c)(2) of the FDI 

Act, 12 U.S.C. 1813(c)(2). 

4The reserve ratio is based on total estimated 

insured deposits at the end of a given quarter. The 

Continued 

of Directors (Board) adopt a restoration 

plan when the Deposit Insurance Fund 

(DIF or fund) reserve ratio falls below 

the minimum of 1.35 percent or is 

expected to within 6 months.1

Extraordinary growth in insured 

deposits during the first and second 

quarters of 2020 caused the DIF to 

decline below the statutory minimum of 

1.35 percent as of June 30, 2020. On 

September 15, 2020, the FDIC 

established a Restoration Plan (Plan) to 

restore the DIF to at least 1.35 percent 

by September 30, 2028, maintaining the 

assessment rate schedule in place at the 

time.2

Under the Plan, the FDIC is 

monitoring deposit balance trends, 

potential losses, and other factors that 

affect the reserve ratio. While insured 

deposit growth rates remained elevated 

through the first quarter of 2021, such 

growth decelerated for the remaining 

quarters of 2021 through the first quarter 

of 2022 and was slightly above the 

historical average annual growth rate. 

Those insured deposits that resulted 

from extraordinary growth in the first 

half of 2020 and the first quarter of 2021 

as the result of actions taken by 

monetary and fiscal authorities, and by 

individuals, businesses, and financial 

market participants in response to the 

Coronavirus Disease (COVID–19) 

pandemic do not appear to have receded 

as of the first quarter of 2022. 

Unrealized losses on available-for-sale 

securities in the DIF portfolio 

contributed to a relatively flat DIF 

balance in the first quarter of 2022. As 

of March 31, 2022, the industry 

weighted average assessment rate nearly 

matched the pre-pandemic average, and 

has been consistently below the level 

projected when the Board originally 

adopted the Plan. Consequently, growth 

in insured deposits outpaced growth in 

the DIF, resulting in a decline in the 

reserve ratio of 4 basis points to 1.23 

percent as of March 31, 2022. 

The FDIC updated its analysis and 

projections for the fund balance and 

reserve ratio to estimate how changes in 

insured deposit growth and assessment 

rates affect when the reserve ratio would 

reach the statutory minimum of 1.35 

percent. Based on this analysis, the 

FDIC projects that, absent an increase in 

assessment rates, the reserve ratio is at 

risk of not reaching the statutory 

minimum of 1.35 percent by the 

statutory deadline of September 30, 

2028. 

Assuming relatively favorable 

conditions, in which some of the excess 

insured deposits resulting from the 

pandemic are retained and the average 

assessment rate is higher than 

experienced over the last year, the FDIC 

projects that the reserve ratio would 

reach the statutory minimum of 1.35 

percent close to the statutory deadline. 

Similarly, under a scenario in which no 

excess deposits are retained and the 

average assessment rate is lower, but the 

FDIC increases assessments by 1 basis 

point, the FDIC projects that the reserve 

ratio would reach the statutory 

minimum of 1.35 percent close to the 

statutory deadline. In both of these 

scenarios, any number of uncertain 

factors—including unexpected losses, 

accelerated insured deposit growth, or 

lower weighted average assessment rates 

due to improving risk profiles of 

institutions—could materialize and 

could easily prevent the reserve ratio 

from reaching the minimum by the 

statutory deadline. As a result, these 

scenarios carry higher risk that the FDIC 

would have to increase assessment rates 

in the face of a future downturn or 

industry stress. 

The FDIC also projected the effects of 

a 2 basis point increase on scenarios 

that applied two sets of reasonable 

assumptions for insured deposit growth 

and average assessment rates. An 

increase of 2 basis points under both 

scenarios would result in the reserve 

ratio reaching the minimum of 1.35 

percent approximately two years from 

now, building in a buffer in the event of 

uncertainties, as described above, that 

could stall or counter growth in the 

reserve ratio. Furthermore, reaching the 

statutory minimum reserve ratio of 1.35 

percent ahead of the statutory deadline 

would mean that the FDIC would exit 

its Restoration Plan. If the reserve ratio 

subsequently declined below the 

statutory minimum, the FDIC would 

establish a new restoration plan and 

would have an additional eight years to 

restore the reserve ratio. 

The banking industry remained 

resilient moving into the second half of 

2022 despite the extraordinary 

challenges of the pandemic and recent 

economic uncertainties.3 Strong 

liquidity and capital levels should help 

to mitigate any potential unexpected 

credit stress across loan portfolios. 

Given the relative strength in the 

condition of the banking industry over 

the past several quarters, increasing 

assessment rates beginning in 2023 

would reduce the likelihood that the 

FDIC would need to later impose a procyclical increase in assessment rates 

during a potential future period of 

banking industry stress. 

On balance, the FDIC views a uniform 

increase in initial base deposit 

insurance assessment rates of 2 basis 

points as the most appropriate and most 

straightforward manner in which to 

achieve the objective of increasing the 

likelihood that the reserve ratio would 

reach the statutory minimum of 1.35 

percent by the statutory deadline of 

September 30, 2028. Therefore, the FDIC 

is amending the Plan to incorporate a 

uniform increase in initial base deposit 

insurance assessment rates of 2 basis 

points, as described below. The FDIC is 

also concurrently publishing a notice of 

proposed rulemaking to propose 

adoption of these higher assessment 

rates, beginning with the first quarterly 

assessment period of 2023. 

The Amended Restoration Plan 

Therefore, the FDIC amends the 

Restoration Plan adopted on September 

15, 2020, as follows: 

1. FDIC will increase initial base 

deposit insurance assessment rates 

uniformly by 2 basis points for all 

insured depository institutions (IDIs). 

2. The FDIC will have the 

accompanying notice of proposed 

rulemaking proposing to increase initial 

base deposit insurance assessment rates 

uniformly by 2 basis points, effective 

the first quarterly assessment period of 

2023, published in the Federal Register 

as soon as possible. 

3. The FDIC projects that the rates 

proposed in the notice of proposed 

rulemaking would increase the 

likelihood that the reserve ratio would 

be restored to 1.35 percent by 

September 30, 2028. 

4. The FDIC will continue to monitor 

deposit balance trends, potential losses, 

and other factors that affect the reserve 

ratio. 

5. At least semiannually, the FDIC 

will update its analysis and projections 

for the fund balance and reserve ratio 

and, if necessary, recommend any 

modifications to the Amended 

Restoration Plan. 

6. This Amended Restoration Plan 

shall be implemented immediately. 

To meet the statutory requirement, the 

reserve ratio must be restored to at least 

1.35 percent no later than September 30, 

2028, the statutory deadline by which 

the reserve ratio must be restored to the 

statutory minimum of 1.35 percent.4


khammond on DSKJM1Z7X2PROD with NOTICES
39520 Federal Register / Vol. 87, No. 126 / Friday, July 1, 2022 / Notices 

FDIC will use data as of September 30, 2028, the 

first quarter-end date for which the reserve ratio 

will be known after September 15, 2028, the end 

date of the 8-year period. 

Federal Deposit Insurance Corporation. 

By order of the Board of Directors. 

Dated at Washington, DC, on June 21, 2022. 

James P. Sheesley, 

Assistant Executive Secretary. 

[FR Doc. 2022–13582 Filed 6–30–22; 8:45 am] 

BILLING CODE 6714–01–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 public portions of the 

applications listed below, as well as 

other related filings required by the 

Board, if any, are available for 

immediate inspection at the Federal 

Reserve Bank(s) indicated below and at 

the offices of the Board of Governors. 

This information may also be obtained 

on an expedited basis, upon request, by 

contacting the appropriate Federal 

Reserve Bank and from the Board’s 

Freedom of Information Office at 

https://www.federalreserve.gov/foia/ 

request.htm. Interested persons may 

express their views in writing on the 

standards enumerated in the BHC Act 

(12 U.S.C. 1842(c)). 

Comments regarding each of these 

applications must be received at the 

Reserve Bank indicated or the offices of 

the Board of Governors, Ann E. 

Misback, Secretary of the Board, 20th 

Street and Constitution Avenue NW, 

Washington DC 20551–0001, not later 

than August 1, 2022. 

A. Federal Reserve Bank of Chicago 

(Colette A. Fried, Assistant Vice 

President) 230 South LaSalle Street, 

Chicago, Illinois 60690–1414: 

1. Two Rivers Financial Group, Inc., 

Burlington, Iowa; to acquire Lee County 

Bank, Fort Madison, Iowa. 

Board of Governors of the Federal Reserve 

System. 

Michele Taylor Fennell, 

Deputy Associate Secretary of the Board. 

[FR Doc. 2022–14072 Filed 6–30–22; 8:45 am] 

BILLING CODE 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 public portions of the 

applications listed below, as well as 

other related filings required by the 

Board, if any, are available for 

immediate inspection at the Federal 

Reserve Bank(s) indicated below and at 

the offices of the Board of Governors. 

This information may also be obtained 

on an expedited basis, upon request, by 

contacting the appropriate Federal 

Reserve Bank and from the Board’s 

Freedom of Information Office at 

https://www.federalreserve.gov/foia/ 

request.htm. Interested persons may 

express their views in writing on the 

standards enumerated in the BHC Act 

(12 U.S.C. 1842(c)). 

Comments regarding each of these 

applications must be received at the 

Reserve Bank indicated or the offices of 

the Board of Governors, Ann E. 

Misback, Secretary of the Board, 20th 

Street and Constitution Avenue NW, 

Washington DC 20551–0001, not later 

than August 1, 2022. 

A. Federal Reserve Bank of Richmond 

(Brent B. Hassell, Assistant Vice 

President) P.O. Box 27622, Richmond, 

Virginia 23261, or 

Comments.applications@rich.frb.org: 

1. Burke and Herbert Financial 

Services Corp., Alexandria, Virginia; to 

become a bank holding company by 

acquiring Burke and Herbert Bank and 

Trust Company, Alexandria, Virginia. 

Board of Governors of the Federal Reserve 

System. 

Michele Taylor Fennell, 

Deputy Associate Secretary of the Board. 

[FR Doc. 2022–14076 Filed 6–30–22; 8:45 am] 

BILLING CODE P 

FEDERAL RESERVE SYSTEM 

Change in Bank Control Notices; 

Acquisitions of Shares of a Bank or 

Bank Holding Company 

The notificants listed below have 

applied under the Change in Bank 

Control Act (Act) (12 U.S.C. 1817(j)) and 

§ 225.41 of the Board’s Regulation Y (12 

CFR 225.41) to acquire shares of a bank 

or bank holding company. The factors 

that are considered in acting on the 

applications are set forth in paragraph 7 

of the Act (12 U.S.C. 1817(j)(7)). 

The public portions of the 

applications listed below, as well as 

other related filings required by the 

Board, if any, are available for 

immediate inspection at the Federal 

Reserve Bank(s) indicated below and at 

the offices of the Board of Governors. 

This information may also be obtained 

on an expedited basis, upon request, by 

contacting the appropriate Federal 

Reserve Bank and from the Board’s 

Freedom of Information Office at 

https://www.federalreserve.gov/foia/ 

request.htm. Interested persons may 

express their views in writing on the 

standards enumerated in paragraph 7 of 

the Act. 

Comments regarding each of these 

applications must be received at the 

Reserve Bank indicated or the offices of 

the Board of Governors, Ann E. 

Misback, Secretary of the Board, 20th 

Street and Constitution Avenue NW, 

Washington DC 20551–0001, not later 

than July 15, 2022. 

A. Federal Reserve Bank of 

Philadelphia (William Spaniel, Senior 

Vice President) 100 North 6th Street, 

Philadelphia, Pennsylvania 19105– 

1521. Comments can also be sent 

electronically to 

Comments.applications@phil.frb.org: 

1. Patriot Financial Partners, IV, L.P., 

Patriot Financial Partners GP IV, L.P., 

Patriot Financial Partners GP IV, LLC., 

Patriot Financial Partners Parallel IV 

L.P., Patriot Financial Advisors, L.P., 

Patriot Financial Advisors LLC, W. Kirk 

Wycoff, James J. Lynch and James F. 

Deutsch, all of Radnor, Pennsylvania; to 

acquire voting shares of Avidbank 

Holdings, Inc., and thereby indirectly 

acquire voting shares of Avidbank, both 

of San Jose, California. 

Board of Governors of the Federal Reserve 

System. 

Michele Taylor Fennell, 

Deputy Associate Secretary of the Board. 

[FR Doc. 2022–14070 Filed 6–30–22; 8:45 am] 

BILLING CODE P 


khammond on DSKJM1Z7X2PROD with NOTICES