Federal Register / Vol. 60, No. 44 / Tuesday, March 7, 1995 / Notices 12563

Procedure Act (‘‘APA’’) do not apply to

matters relating to ‘‘public property,

loans, grants, or contracts.’’ (5 U.S.C.

553(a)(2)) The daylight overdraft fee

relates to ‘‘loans,’’ in that the fee is for

an extension of intraday credit by

Federal Reserve Banks, and ‘‘contracts,’’

in that the fee is part of an agreement

between institutions and the Federal

Reserve Banks for the provision of

Reserve Bank payment services.

Therefore, the APA does not require the

Board to seek notice and comment on

the fee revision.

Additionally, the Board finds for good

cause that notice and comment on the

fee revision is unnecessary, in

accordance with 5 U.S.C. 553(b)(B). The

Board originally adopted a policy, after

notice and comment, to implement an

annual fee of 48 basis points (equivalent

to 20 basis points for a 10-hour Fedwire

day) on April 13, 1995. The Board’s

action today will reduce the previously

announced 1995 fee to an annual rate of

36 basis points (equivalent to 15 basis

points for a 10-hour Fedwire day.)

Because the Board’s action reduces

burden on affected institutions

compared to the previously announced

policy, the Board believes that seeking

additional comment on this action is

unnecessary.

VII. Policy Statement

The Board has adopted the following

change in its policy statement that will

replace paragraphs two and three of part

(I)(B) in its ‘‘Federal Reserve Policy

Statement on Payments System Risk’’

under headings ‘‘I. Federal Reserve

Policy’’ and ‘‘B. Pricing’’:

The overdraft fee is 36 basis points

(annual rate), quoted on the basis of a

24-hour day. To obtain the daily

overdraft fee (annual rate) for the

standard Fedwire operating day, the

quoted 36-basis-point fee is multiplied

by the fraction of a 24-hour day during

which Fedwire is scheduled to operate.

For example, under a 10-hour scheduled

Fedwire operating day, the overdraft fee

equals 15 basis points (36 basis points

multiplied by 10/24). The 36-basis-point

fee is effective April 13, 1995.

The 36-basis-point fee (times an

operating hour fraction) will be in effect

for at least two years. A change in the

length of the scheduled Fedwire

operating day would not change the

effective fee because the fee is applied

to average overdrafts which, in turn,

would be deflated by the change in the

operating day. The Board will evaluate

the desirability of an increase in the

daylight overdraft fee, based on the

objectives of the payments system risk

program, two years after the

implementation of the 36-basis-point

fee. Any changes in the fee resulting

from that review will be announced

with a reasonable lead-time for

implementation.

By order of the Board of Governors of the

Federal Reserve System, March 2, 1995.

William W. Wiles,

Secretary of the Board.

[FR Doc. 95–5530 Filed 3–6–95; 8:45 am]

BILLING CODE 6210–01–P

Brill Bancshares, Inc., et al.;

Formations of; Acquisitions by; and

Mergers of Bank Holding Companies

The companies listed in this notice

have applied for the Board’s approval

under section 3 of the Bank Holding

Company Act (12 U.S.C. 1842) and §

225.14 of the Board’s Regulation Y (12

CFR 225.14) to become a bank holding

company or to acquire a bank or bank

holding company. The factors that are

considered in acting on the applications

are set forth in section 3(c) of the Act

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

Each application is available for

immediate inspection at the Federal

Reserve Bank indicated. Once the

application has been accepted for

processing, it will also be available for

inspection at the offices of the Board of

Governors. Interested persons may

express their views in writing to the

Reserve Bank or to the offices of the

Board of Governors. Any comment on

an application that requests a hearing

must include a statement of why a

written presentation would not suffice

in lieu of a hearing, identifying

specifically any questions of fact that

are in dispute and summarizing the

evidence that would be presented at a

hearing.

Unless otherwise noted, comments

regarding each of these applications

must be received not later than March

31, 1995.

A. Federal Reserve Bank of

Minneapolis (James M. Lyon, Vice

President) 250 Marquette Avenue,

Minneapolis, Minnesota 55480:

1. Brill Bancshares, Inc., Brill,

Wisconsin; to become a bank holding

company by acquiring 80.11 percent of

the voting shares of Brill State Bank,

Brill, Wisconsin.

2. First Community Bank Group, Inc.,

and Todd County Agency, Inc., both of

Hopkins, Minnesota; to acquire a total of

100 percent of the voting shares of

Citizens State Bank of Barrett, Barrett,

Minnesota.

Board of Governors of the Federal Reserve

System, March 1, 1995.

Jennifer J. Johnson,

Deputy Secretary of the Board.

[FR Doc. 95–5488 Filed 3–6–95; 8:45 am]

BILLING CODE 6210–01–F

First Farmers Bancshares, Inc.; Notice

of Application to Engage de novo in

Permissible Nonbanking Activities

The company listed in this notice has

filed an application under § 225.23(a)(1)

of the Board’s Regulation Y (12 CFR

225.23(a)(1)) for the Board’s approval

under section 4(c)(8) of the Bank

Holding Company Act (12 U.S.C.

1843(c)(8)) and § 225.21(a) of Regulation

Y (12 CFR 225.21(a)) to commence or to

engage de novo, either directly or

through a subsidiary, in a nonbanking

activity that is listed in § 225.25 of

Regulation Y as closely related to

banking and permissible for bank

holding companies. Unless otherwise

noted, such activities will be conducted

throughout the United States.

The application is available for

immediate inspection at the Federal

Reserve Bank indicated. Once the

application has been accepted for

processing, it will also be available for

inspection at the offices of the Board of

Governors. Interested persons may

express their views in writing on the

question whether consummation of the

proposal can ‘‘reasonably be expected to

produce benefits to the public, such as

greater convenience, increased

competition, or gains in efficiency, that

outweigh possible adverse effects, such

as undue concentration of resources,

decreased or unfair competition,

conflicts of interests, or unsound

banking practices.’’ Any request for a

hearing on this question must be

accompanied by a statement of the

reasons a written presentation would

not suffice in lieu of a hearing,

identifying specifically any questions of

fact that are in dispute, summarizing the

evidence that would be presented at a

hearing, and indicating how the party

commenting would be aggrieved by

approval of the proposal.

Comments regarding the application

must be received at the Reserve Bank

indicated or the offices of the Board of

Governors not later than March 21,

1995.

A. Federal Reserve Bank of Atlanta

(Zane R. Kelley, Vice President) 104

Marietta Street, N.W., Atlanta, Georgia

30303:

1. First Farmers Bancshares, Inc.,

Portland, Tennessee; to engage de novo

through its subsidiary Tennessee

Business and Industrial Development
12564 Federal Register / Vol. 60, No. 44 / Tuesday, March 7, 1995 / Notices

Corporation, Chattanooga, Tennessee, in

community development activities,

pursuant to § 225.25(b)(6) of the Board’s

Regulation Y, and to make, acquire, and

service loans or other extensions of

credit related to community

development activities, pursuant to §

225.25(b)(1)(iv) of the Board’s

Regulation Y. The proposed activity will

be conducted throughout the state of

Tennessee.

Board of Governors of the Federal Reserve

System, March 1, 1995.

Jennifer J. Johnson,

Deputy Secretary of the Board.

[FR Doc. 95-5486 Filed 3–6–95; 8:45 am]

BILLING CODE 6210–01–F

First Union Corporation, et al.;

Acquisitions of Companies Engaged in

Permissible Nonbanking Activities

The organizations listed in this notice

have applied under § 225.23(a)(2) or (f)

of the Board’s Regulation Y (12 CFR

225.23(a)(2) or (f)) for the Board’s

approval under section 4(c)(8) of the

Bank Holding Company Act (12 U.S.C.

1843(c)(8)) and § 225.21(a) of Regulation

Y (12 CFR 225.21(a)) to acquire or

control voting securities or assets of a

company engaged in a nonbanking

activity that is listed in § 225.25 of

Regulation Y as closely related to

banking and permissible for bank

holding companies. Unless otherwise

noted, such activities will be conducted

throughout the United States.

Each application is available for

immediate inspection at the Federal

Reserve Bank indicated. Once the

application has been accepted for

processing, it will also be available for

inspection at the offices of the Board of

Governors. Interested persons may

express their views in writing on the

question whether consummation of the

proposal can ‘‘reasonably be expected to

produce benefits to the public, such as

greater convenience, increased

competition, or gains in efficiency, that

outweigh possible adverse effects, such

as undue concentration of resources,

decreased or unfair competition,

conflicts of interests, or unsound

banking practices.’’ Any request for a

hearing on this question must be

accompanied by a statement of the

reasons a written presentation would

not suffice in lieu of a hearing,

identifying specifically any questions of

fact that are in dispute, summarizing the

evidence that would be presented at a

hearing, and indicating how the party

commenting would be aggrieved by

approval of the proposal.

Unless otherwise noted, comments

regarding each of these applications

must be received at the Reserve Bank

indicated for the application or the

offices of the Board of Governors not

later than March 21, 1995.

A. Federal Reserve Bank of

Richmond (Lloyd W. Bostian, Jr., Senior

Vice President) 701 East Byrd Street,

Richmond, Virginia 23261:

1. First Union Corporation, Charlotte,

North Carolina; to acquire Coral Gables

Fedcorp, Inc., Coral Gables, Florida, and

thereby indirectly acquire Coral Gables

Federal Savings and Loan Association,

Coral Gables, Florida, and engage in

acquiring and operating a federal

savings bank holding company and its

subsidiary savings bank, pursuant to §

225.25(b)(9) of the Board’s Regulation Y.

B. Federal Reserve Bank of Chicago

(James A. Bluemle, Vice President) 230

South LaSalle Street, Chicago, Illinois

60690:

1. NBD Bancorp, Inc., Detroit,

Michigan and NBD Illinois, Inc. Park

Ridge, Illinois; to acquire Deerbank

Corporation, and thereby indirectly

acquire Deerfield Federal Savings and

Loan Association, and Northern Illinois

Financial Services Corporation, all of

Deerfield, Illinois, and thereby engage in

operating a savings association,

pursuant to § 225.25(b)(9) of the Board’s

Regulation Y, and making and servicing

loans, pursuant to § 225.25(b)(1) of the

Board’s Regulation Y.

Board of Governors of the Federal Reserve

System, March 1, 1995.

Jennifer J. Johnson,

Deputy Secretary of the Board.

[FR Doc. 95–5485 Filed 3–6–95; 8:45 am]

BILLING CODE 6210–01–F

John M. Saphir, et al.; 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. Once the

notices have been accepted for

processing, they will also 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 March 21, 1995.

A. Federal Reserve Bank of Chicago

(James A. Bluemle, Vice President) 230

South LaSalle Street, Chicago, Illinois

60690:

1. John M. Saphir, John M. Saphir

Living Trust and John M. Saphir Family

Partnership, Glenwood, Illinois; each to

acquire collectively 17.33 percent of the

voting shares of Heritage Community

Bancorporation, Inc., Glenwood, Illinois

(formerly known as Riverdale

Bancorporation, Inc., Riverdale,

Illinois), and thereby indirectly acquire

Heritage Community Bank, Glenwood,

Illinois.

Board of Governors of the Federal Reserve

System, March 1, 1995.

Jennifer J. Johnson,

Deputy Secretary of the Board.

[FR Doc. 95–5487 Filed 3–6–95; 8:45 am]

BILLING CODE 6210–01–F

GENERAL ACCOUNTING OFFICE

Federal Accounting Standards

Advisory Board

AGENCY: General Accounting Office.

ACTION: Notice of Meeting.

SUMMARY: Pursuant to section 10(a)(2) of

the Federal Advisory Committee Act

(Pub. L. No. 92–463), as amended,

notice is hereby given that a two-day

meeting of the Federal Accounting

Standards Advisory Board will be held

on Wednesday afternoon, March 15

from 1:00 to 4:30 and continuing on

Thursday, March 16 from 9:00 A.M. to

4:00 in room 7C13 of the General

Accounting Office, 441 G St., N.W.,

Washington, D.C.

The agenda for the meeting includes

discussions of issues related to the

following projects: Stewardship,

Revenue Recognition, Liabilities, and

Managerial Cost Accounting Standards.

We advise that other items may be

added to the agenda; interested parties

should contact the Staff Director for

more specific information and to

confirm the date of the meeting. Any

interested person may attend the

meeting as an observer. Board

discussions and reviews are open to the

public.

FOR FURTHER INFORMATION CONTACT:

Ronald S. Young, Executive Staff

Director, 750 First St., N.E., Room 1001,

Washington, D.C. 20002, or call (202)

512–7350.

Authority: Federal Advisory Committee

Act. Pub. L. No. 92–463, Section 10(a)(2), 86

Stat. 770, 774 (1972) (current version at 5

U.S.C. app. section 10(a)(2) (1988); 41 CFR

101–6.1015 (1990).