52356 Federal Register / Vol. 73, No. 175 / Tuesday, September 9, 2008 / Notices 

PLACE: 999 E Street, NW., Washington, 

DC. 

STATUS: This meeting will be closed to 

the public. 

ITEMS TO BE DISCUSSED: Compliance 

matters pursuant to 2 U.S.C. 437g. 

Audits conducted pursuant to 2 U.S.C. 

437g, 438(b), and Title 26, U.S.C. 

Matters concerning participation in civil 

actions or proceedings or arbitration. 

Internal personnel rules and procedures 

or matters affecting a particular 

employee. 

PERSON TO CONTACT FOR INFORMATION: 

Mr. Robert Biersack, Press Officer, 

Telephone: (202) 694–1220. 

Mary W. Dove, 

Secretary of the Commission. 

[FR Doc. E8–20786 Filed 9–8–08; 8:45 am] 

BILLING CODE 6715–01–M 

FEDERAL HOUSING FINANCE 

AGENCY 

Establishment of a New Independent 

Agency 

AGENCY: Federal Housing Finance 

Agency. 

ACTION: Notice of establishment. 

SUMMARY: This Notice is to announce 

the establishment of a new independent 

agency. Division A of the Housing and 

Economic Recovery Act of 2008, Public 

Law 110–289, 122 Stat. 2654 (2008), 

titled the Federal Housing Finance 

Regulatory Reform Act of 2008 (Act), 

created the Federal Housing Finance 

Agency (FHFA) as an independent 

agency of the Federal Government. 

FHFA was established on the date of 

enactment, July 30, 2008, and the Act 

provides for the abolishment of the 

Office of Federal Housing Enterprise 

Oversight (OFHEO) and the Federal 

Housing Finance Board (FHFB) one year 

after the date of enactment. These 

agencies, together with the Housing and 

Urban Development GovernmentSponsored Enterprise Mission Teams, 

are combined to establish FHFA. 

Regulations of FHFA will be found in 12 

CFR chapter XII, parts 1200–1299. 

FOR FURTHER INFORMATION CONTACT: 

Alfred M. Pollard, General Counsel 

(OFHEO), telephone (202) 414–3788 or 

Christopher Curtis, General Counsel 

(FHFB), telephone (202) 408–2802 (not 

toll free numbers), Federal Housing 

Finance Agency, Fourth Floor, 1700 G 

Street, NW., Washington, DC 20552. The 

telephone number for the 

Telecommunications Device for the Deaf 

is (800) 877–8339. 

SUPPLEMENTARY INFORMATION: FHFA has 

regulatory authority over the Federal 

National Mortgage Association (Fannie 

Mae), the Federal Home Loan Mortgage 

Corporation (Freddie Mac) and the 

Federal Home Loan Banks (collectively, 

the ‘‘regulated entities’’) and the Bank 

System’s Office of Finance. The 

establishment of FHFA strengthens the 

nation’s housing finance system. This 

new regulator has the authorities 

necessary to enhance oversight of 

Fannie Mae, Freddie Mac and the 

Federal Home Loan Banks—vital 

components of the nation’s secondary 

mortgage markets. 

FHFA was established to oversee the 

prudential operations of each regulated 

entity and to ensure: 

• That each regulated entity operates 

in a safe and sound manner, including 

maintenance of adequate capital and 

internal controls; 

• That the operations and activities of 

each regulated entity foster liquid, 

efficient, competitive, and resilient 

national housing finance markets 

(including activities relating to 

mortgages on housing for low- and 

moderate-income families involving a 

reasonable economic return that may be 

less than the return earned on other 

activities); 

• That each regulated entity complies 

with this title and the rules, regulations, 

guidelines, and orders issued under this 

title and the authorizing statutes; 

• That each regulated entity carries 

out its statutory mission only through 

activities that are authorized under and 

consistent with this title and the 

authorizing statutes; and 

• That the activities of each regulated 

entity and the manner in which such 

regulated entity is operated are 

consistent with the public interest. 

The authorities, powers and 

responsibilities of FHFA are contained 

in Titles 12 U.S.C. 1421 et seq. and 4501 

et seq., as amended by Division A of 

Public Law 110–289, 122 Stat. 2654 

(2008). 

Dated: August 30, 2008. 

James B. Lockhart III, 

Director, Federal Housing Finance Agency. 

[FR Doc. E8–20839 Filed 9–8–08; 8:45 am] 

BILLING CODE 4220–01–P 

FEDERAL RESERVE SYSTEM 

Change in Bank Control Notices; 

Acquisition of Shares of Bank 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. The notices 

also will be available for inspection at 

the office 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 

September 24, 2008. 

A. Federal Reserve Bank of St. Louis 

(Glenda Wilson, Community Affairs 

Officer) P.O. Box 442, St. Louis, 

Missouri 63166–2034: 

1. Larry T. Wilson Descendents Trust 

and The Kathryn W. Roberts 

Descendants Trust to join the Wilson 

Family Control Group, all of 

Jacksonville, Arkansas, and thereby 

acquire control of First Arkansas 

Bancshares, Inc., and thereby indirectly 

acquire control of First Arkansas Bank 

and Trust, both of Jacksonville, 

Arkansas. 

Board of Governors of the Federal Reserve 

System, September 4, 2008. 

Jennifer J. Johnson, 

Secretary of the Board. 

[FR Doc. E8–20881 Filed 9–8–08; 8:45 am] 

BILLING CODE 6210–01–S 

FEDERAL RESERVE SYSTEM 

Sunshine Act Meeting 

AGENCY HOLDING THE MEETING: Board of 

Governors of the Federal Reserve 

System. 

TIME AND DATE: 12:00 p.m., Monday, 

September 15, 2008. 

PLACE: Marriner S. Eccles Federal 

Reserve Board Building, 20th and C 

Streets, N.W., Washington, D.C. 20551. 

STATUS: Closed. 

MATTERS TO BE CONSIDERED: 

1. Personnel actions (appointments, 

promotions, assignments, 

reassignments, and salary actions) 

involving individual Federal Reserve 

System employees. 

2. Any items carried forward from a 

previously announced meeting. 

FOR FURTHER INFORMATION CONTACT: 

Michelle Smith, Director, or Dave 

Skidmore, Assistant to the Board, Office 

of Board Members at 202–452–2955. 

SUPPLEMENTARY INFORMATION: You may 

call 202–452–3206 beginning at 

approximately 5 p.m. two business days 

before the meeting for a recorded 

announcement of bank and bank 

holding company applications 


jlentini on PROD1PC65 with NOTICES