16476 Federal Register / Vol. 60, No. 61 / Thursday, March 30, 1995 / Notices

included as these nonbank subsidiaries

serve as funding vehicles for other

credit extending nonbank subsidiaries

and pose liquidity risks to the bank

holding company. Finally, the

commenter recommended that the

proposed FR Y-11I be further

summarized. The revised format is

composed of significant asset and

liability accounts. Additional schedules

are required to be completed only if the

nonbank subsidiary is engaged in

extensions of credit. The Board believes

that the revised report represents the

minimum information that should be

collected from nonbank subsidiaries to

evaluate their financial position and to

monitor their potential impact on the

bank holding company.

2.Report title: Annual Financial

Statements for Nonbanking

Subsidiaries.

Agency form number: FR Y-11I.

OMB Docket number: 7100-0244.

Frequency: Annual.

Reporters: Bank Holding Companies.

Annual reporting hours: 13,216.

Estimated average hours per response:

Range from 0.4 to 8.0 hours.

Number of respondents: 4130.

Small businesses are affected.

General description of report: This

information collection is mandatory (12

U.S.C. 1844(b) and (c)) and 12 CFR

225.5(b). Confidential treatment is not

routinely given to the data in these

reports. However, confidential treatment

for the reporting information, in whole

or in part, can be requested in

accordance with the instructions to the

form.

Abstract and Public Comments: The

prior FR Y-11I report was filed by a toptier bank holding company for each of

its nonbank subsidiaries, whether

directly or indirectly owned. Combined

and consolidated reporting was

permitted in some instances. The report

consisted of ten summary financial

items and two items providing

consolidation information.

The Federal Reserve has approved the

following revisions to the FR Y-11I:

(1) Expand the report to collect more

detailed financial information,

comparable to items proposed for the FR

Y-11Q but with certain detail reported

only as summary items and

(2) Revise the reporting criteria to

collect information on an individual

basis annually from each nonbank

subsidiary not required to file the

proposed FR Y-11Q. The revised

financial statements will include a

balance sheet, income statement, offbalance sheet, and a statement on

changes in equity capital. The FR Y-11I

will also include a loan schedule to be

submitted only by respondents engaged

in credit extending activities. The

public comments are discussed under

the FR Y-11Q report.

Final approval under OMB delegated

authority of the elimination of the

following report:

1. Report title: Combined Financial

Statements of Nonbank Subsidiaries of

Holding Companies, by Type of

Nonbank Subsidiary.

Agency form number: FR Y-11AS.

OMB Docket number: 7100-0244.

Frequency: Annual.

Reporters: Bank Holding Companies.

Annual reporting hours: 1,680.

Estimated average hours per response:

Range from 1.0 to 17.0 hours.

Number of respondents: 271.

Small businesses are affected.

General description of report: This

information collection is mandatory (12

U.S.C. 1844(b) and (c) and 12 CFR

225.5(b). Confidential treatment is not

routinely given to the data in these

reports. However, confidential treatment

for the reporting information, in whole

or in part, can be requested in

accordance with the instructions to the

form.

Abstract: The FR Y-11AS was filed by

all bank holding companies meeting the

prior reporting criteria for the FR Y-11Q.

The report collected the same report

items as the FR Y-11Q by type of

nonbank activity and consists of a

balance sheet, income statement, and a

memoranda section. The Board has

eliminated this reporting requirement,

and all commenters supported this

action.

REGULATORY FLEXIBILITY ACT

ANALYSIS

The Board certifies that the above

bank holding company reporting

requirements are not expected to have a

significant economic impact on small

entities within the meaning of the

Regulatory Flexibility Act (5 U.S.C. 601

et seq.). The reporting requirements for

the small companies require

significantly fewer items of data to be

submitted than the amount of

information required of large bank

holding companies.

The information that is collected on

the reports is essential for the detection

of emerging financial problems, the

assessment of a holding company’s

financial condition and capital

adequacy, the performance of preinspection reviews, and the evaluation

of expansion activities through mergers

and acquisitions. The imposition of the

reporting requirements is essential for

the Board’s supervision of bank holding

companies under the Bank Holding

Company Act.

By order of the Board of Governors of the

Federal Reserve System, March 24, 1995.

Jennifer J. Johnson,

Deputy Secretary of the Board.

[FR Doc. 95–7796 Filed 3–29–95; 8:45AM]

Billing Code 6210–01–F

First Community Corporation, 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 April 24,

1995.

A. Federal Reserve Bank of

Richmond (Lloyd W. Bostian, Jr., Senior

Vice President) 701 East Byrd Street,

Richmond, Virginia 23261:

1. First Community Corporation,

Columbia, South Carolina; to become a

bank holding company by acquiring 100

percent of the voting shares of First

Community Bank, N.A., Lexington,

South Carolina (in organization).

B. Federal Reserve Bank of Chicago

(James A. Bluemle, Vice President) 230

South LaSalle Street, Chicago, Illinois

60690:

1. Suburban Illinois Bancorp, Inc.,

Elmhurst, Illinois; to become a bank

holding company by acquiring 100

percent of the voting shares of Suburban

Bank of Elmhurst, Elmhurst, Illinois.

C. Federal Reserve Bank of St. Louis

(Randall C. Sumner, Vice President) 411

Locust Street, St. Louis, Missouri 63166:

1. Mountain View Bancshares, Inc.,

Mountain View, Arkansas; to become a
Federal Register / Vol. 60, No. 61 / Thursday, March 30, 1995 / Notices 16477

bank holding company by acquiring at

least 80 percent of the voting shares of

Bank of Mountain View, Mountain

View, Arkansas.

Board of Governors of the Federal Reserve

System, March 24, 1995.

Jennifer J. Johnson,

Deputy Secretary of the Board.

[FR Doc. 95–7797 Filed 3–29–95; 8:45 am]

BILLING CODE 6210–01–F

Helena 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 April 13, 1995.

A. Federal Reserve Bank of St. Louis

(Randall C. Sumner, Vice President) 411

Locust Street, St. Louis, Missouri 63166:

1. Helena Bancshares, Inc., Helena,

Arkansas; to engage de novo through its

subsidiary Helena National Leasing

Company, Inc., Memphis, Tennessee, in

leasing tangible personal property,

consisting primarily of business

machines, pursuant to § 225.25(b)(15) of

the Board’s Regulation Y.

Board of Governors of the Federal Reserve

System, March 24, 1995.

Jennifer J. Johnson,

Deputy Secretary of the Board.

[FR Doc. 95–7798 Filed 3–29–95; 8:45 am]

BILLING CODE 6210–01–F

DEPARTMENT OF HEALTH AND

HUMAN SERVICES

Office of the Secretary

Notice of a Regional Public Hearings of

the Commission on Research Integrity

Pursuant to Pub. L. 92–463, notice is

hereby given of two regional public

hearings and meetings of the

Commission on Research Integrity. All

proceedings are open to the public.

The first meeting will be on Monday

and Tuesday, April 10 and 11, 1995, at

the Countway Library Auditorium,

Harvard Medical Center, 25 Shattuck

Street, Boston, MA. The Commission

will meet from 8:30 a.m. until 5:00 p.m.

on the first day to listen to testimony,

and from 9:00 a.m. until 5:00 p.m. on

the second day to deliberate

Commission issues.

The second meeting will be on

Thursday and Friday, May 4 and 5,

1995, at the University of Alabama, the

Great Hall and Alumni Auditorium

respectively, Hill University Center,

1400 University Boulevard,

Birmingham, AL. The Commission will

meet from 8:30 a.m. until 5:00 p.m. on

the first day to deliberate Commission

issues, and from 9:00 a.m. until 4:45

p.m. on the second day to listen to

testimony.

Interested parties are advised to call

the Executive Secretary shortly before

the meeting to verify the date, place,

and agenda.

The mandate of the Commission is to

develop recommendations for the

Secretary of Health and Human Services

(DHHS) and the Congress on the

administration of Section 493 of the

Public Health Service Act, as amended

by and added to by Section 161 of the

NIH Revitalization Act of 1993.

In its deliberations, the Commission

has confirmed that there are no quick

and easy answers for fair, effective, and

realistic administrative solutions to a

number of issues in research integrity

and scientific misconduct. An essential

component of the Commission’s

information-gathering is to interact

extensively with relevant constituencies

of the scientific community—including

junior and senior scientists, witnesses,

respondents, academic administrators,

as well as students—to understand their

particular experiences and views and to

explore possible improvements.

Four major areas are currently of great

interest to the Commission:

1. A New Definition of Research

Misconduct. The Commission believes

that any definition needs to address the

full extent of serious research

misconduct, but must avoid a definition

that is too broad, vague, and potentially

unfair. In addition, a two-tiered

approach for research integrity, or

failures thereof, would be useful; it

would emphasize institutional

responsibility, and reserve an oversight

role for the Federal Government.

2. Assurance for Institutions and

Accountability for Federally Funded

Research. The Commission is

considering that each institution

receiving Federal funds develop and

submit for Federal review and approval

assurances concerning the

establishment and implementation of:

(a) Good research practices and

professional norms; (b) procedures for

disseminating that information

throughout its community; and (c)

educational activities designed to foster

practice of the highest ethical standards

in the conduct of research for all

researchers. Topics affecting good

research practices that might be

addressed in institutional assurances

include: data recording and retention;

supervisory responsibility; authorship

practices; protection of witnesses; and

other professional conduct bearing

directly on the integrity of Federally

supported research.

3. Bill of Rights for Witnesses.

Testimony from witnesses (also called

‘‘whistleblowers’’) who have challenged

perceived research misconduct reaffirms

the Commission’s mandate to propose

effective whistleblower protection.

Witnesses have stated that retaliation

occurs with sufficient frequency and

impact to have a chilling effect on

potential witnesses throughout the

research community. The Commission

is considering a Witness Bill of Rights.

4. Codes of Ethics. Professional

organizations have a unique role in the

preservation of scientific integrity. The

Commission endorses their existence,

their continual use in teaching and

standard checking, and their ongoing

development to keep pace with the

ethical issues of the times. The

Commission is considering that, to

reinforce and augment the influence of

normative professional standards,

professional organizations should