Federal Register / Vol. 67, No. 1 / Wednesday, January 2, 2002 / Notices 77

number. No person shall be subject to 

any penalty for failing to comply with 

a collection of information subject to the 

Paperwork Reduction Act (PRA) that 

does not display a valid control number. 

Comments are requested concerning (a) 

whether the proposed collection of 

information is necessary for the proper 

performance of the functions of the 

Commission, including whether the 

information shall have practical utility; 

(b) the accuracy of the Commission’s 

burden estimate; (c) ways to enhance 

the quality, utility, and clarity of the 

information collected; and (d) ways to 

minimize the burden of the collection of 

information on the respondents, 

including the use of automated 

collection techniques or other forms of 

information technology.

DATES: Written comments should be 

submitted on or before February 1, 2002. 

If you anticipate that you will be 

submitting comments, but find it 

difficult to do so within the period of 

time allowed by this notice, you should 

advise the contact listed below as soon 

as possible.

ADDRESSES: Direct all comments to Judy 

Boley, Federal Communications 

Commission, Room 1–C804, 445 12th 

Street, SW, DC 20554 or via the Internet 

to jboley@fcc.gov.

FOR FURTHER INFORMATION CONTACT: For 

additional information or copies of the 

information collection(s), contact Judy 

Boley at 202–418–0214 or via the 

Internet at jboley@fcc.gov.

SUPPLEMENTARY INFORMATION: 

OMB Control No.: 3060–0519. 

Title: Rules and Regulations 

Implementing the Telephone Consumer 

Protection Act of 1991 (CC Docket No. 

92–06). 

Form No.: N/A. 

Type of Review: Extension of a 

currently approved collection. 

Respondents: Businesses or other forprofit. 

Number of Respondents: 30,000. 

Estimated Time Per Response: 31.2 

hours per response (avg.). 

Frequency of Response:

Recordkeeping requirement, third party 

disclosure requirement, on occasion 

reporting requirement. 

Total Annual Burden: 936,000 hours. 

Total Annual Cost: N/A. 

Needs and Uses: Parts 64 and 68 of 

the Commission’s rules contain 

procedures for avoiding unwanted 

telephone solicitations to residences, 

and to regulate the use of automatic 

telephone dialing systems, artificial or 

pre-recorded voice messages, and 

telephone facsimile machines. The 

Commission believes that the 

recordkeeping requirement is the best 

means of preventing unwanted 

telephone solicitations.

OMB Control No.: 3060–0837. 

Title: Application for DTV Broadcast 

Station License. 

Form No.: FCC Form 302–DTV. 

Type of Review: Extension of a 

currently approved collection. 

Respondents: Businesses or other forprofit, not-for-profit institutions. 

Number of Respondents: 600. 

Estimated Time Per Response: 1.5–6 

hours per response (avg.). 

Frequency of Response: On occasion 

reporting requirement. 

Total Annual Burden: 950 hours. 

Total Annual Cost: $245,000. 

Needs and Uses: FCC Form 302–DTV 

is used by licensees and permittees of 

DTV broadcast stations to obtain a new 

or modified station license, and/or to 

notify the Commission of certain 

changes in the licensed facilities. The 

data is used by FCC staff to confirm that 

the station has been built to terms 

specified in the outstanding 

construction permit and to ensure that 

any changes to the station’s authorized 

facilities, made without prior 

Commission approval, will not have any 

impact on other stations and the public. 

Data is extracted from FCC 302–DTV for 

inclusion in the license to operate the 

station.

Federal Communications Commission. 

Magalie Roman Salas, 

Secretary.

[FR Doc. 01–32249 Filed 12–31–01; 8:45 am] 

BILLING CODE 6712–01–P

FEDERAL DEPOSIT INSURANCE 

CORPORATION 

Policy Statement Regarding MinorityOwned Depository Institutions

AGENCY: Federal Deposit Insurance 

Corporation (FDIC).

ACTION: Policy statement.

SUMMARY: The FDIC is proposing to 

revise its Policy Statement Regarding 

Minority-Owned Depository 

Institutions. Section 308 of the 

Financial Institutions Reform, Recovery 

and Enforcement Act of 1989 

(‘‘FIRREA’’) requires the Secretary of the 

Treasury to consult with the Director of 

the Office of Thrift Supervision and the 

Chairperson of the Board of Directors of 

the FDIC to determine the best methods 

for preserving and encouraging minority 

ownership of depository institutions. 

The FDIC has long recognized the 

unique role and importance of minorityowned depository institutions and has 

historically taken steps to preserve and 

encourage minority ownership of 

financial institutions. The revised 

Policy Statement updates, expands, and 

clarifies the agency’s policies and 

procedures related to minority-owned 

institutions.

DATES: Written comments must be 

received on or before March 4, 2002.

ADDRESSES: All comments should be 

addressed to Robert E. Feldman, 

Executive Secretary, Attention: 

Comments/OES, Federal Deposit 

Insurance Corporation, 550 17th Street, 

NW., Washington, DC 20429. Comments 

may be hand delivered to the guard 

station at the rear of the 550 17th Street 

Building (located on F Street) on 

business days between 7 a.m. and 5 p.m. 

(fax number (202) 898–3838; Internet 

address: comments@fdic.gov). 

Comments may be posted on the FDIC 

Internet site at http://www.fdic.gov/

regulations/laws/federal/propose.html

and may be inspected and photocopied 

in the FDIC Public Information Center, 

Room 100, 801 17th Street, NW., 

Washington, DC 20429, between 9 a.m. 

and 4:30 p.m. on business days.

FOR FURTHER INFORMATION CONTACT:

Brett A. McCallister, Risk Management 

and Applications Section, Division of 

Supervision (202) 898–3803 or Grovetta 

N. Gardineer, Counsel, Legal Division, 

(202) 898–3728, Federal Deposit 

Insurance Corporation, 550 17th Street, 

NW., Washington, DC 20429.

SUPPLEMENTARY INFORMATION: On April 

3, 1990, the Board of Directors of the 

FDIC adopted a Policy Statement on 

Encouragement and Preservation of 

Minority Ownership of Financial 

Institutions. The framework for the 

original Policy Statement resulted from 

several key provisions contained in 

Section 308 of FIRREA, which 

enumerated several goals as follows: (1) 

Preserving the number of minority 

depository institutions; (2) preserving 

the minority character in cases of 

merger or acquisition; (3) providing 

technical assistance to prevent 

insolvency of institutions not now 

insolvent; (4) promoting and 

encouraging creation of new minority 

depository institutions; and (5) 

providing for training, technical 

assistance, and education programs. 

The original Policy Statement 

provided guidance to the industry 

regarding the agency’s efforts in 

achieving the goals of Section 308. The 

revised Policy Statement attempts to 

provide a more structured framework 

that sets forth initiatives of the FDIC to 

promote the preservation of, as well as 

to provide technical assistance, training 

and educational programs to, minorityowned institutions by working with 

78 Federal Register / Vol. 67, No. 1 / Wednesday, January 2, 2002 / Notices 

those institutions, their trade 

associations and the other federal 

financial regulatory agencies. 

Section 308(b) of FIRREA provides 

that ‘‘minority’’ means any Black 

American, Native American, Hispanic 

American or Asian American. The FDIC 

adopts this definition of minority in the 

revised Policy Statement. Section 308(b) 

of FIRREA defines the term ‘‘minority 

depository institution’’ as: any 

depository institution that—(A) If a 

privately owned institution, 51 percent 

is owned by one or more socially and 

economically disadvantaged 

individuals; (B) if publicly owned, 51 

percent of the stock is owned by one or 

more socially and economically 

disadvantaged individuals; and (C) in 

the case of a mutual institution where 

the majority of the Board of Directors, 

account holders, and the community 

which it services is predominantly 

minority. The revised Policy Statement 

defines the term ‘‘minority-owned 

institution’’ as any Federally insured 

depository institution where 51 percent 

or more of the voting stock is owned by 

minority individuals. Additionally 

mutual, publicly traded, and widely 

held institutions will be considered 

minority-owned if a majority of the 

Board of Directors, account holders, and 

the community which the institution 

serves are predominantly minority, 

regardless of non-minority or non-U.S. 

citizen ownership of the capital stock. 

The proposed Policy Statement also 

clarifies that the FDIC’s program is 

targeted at institutions owned by U.S. 

citizens, and ownership by non-U.S. 

citizens is not counted in determining 

minority-owned status. The FDIC 

invites the public to comment on the 

proposed definition of ‘‘minority-owned 

institution’’. The FDIC specifically seeks 

comment on the proposed treatment of 

mutual, publicly traded and widely held 

institutions, as to the feasibility of 

collecting information regarding the 

account holders and the community in 

making a determination regarding its 

status as a minority-owned institution. 

The proposed Policy Statement also 

provides for the FDIC to maintain a list 

of minority-owned institutions to ensure 

that all eligible minority-owned 

depository institutions are able to 

participate in the program. If not already 

identified as minority-owned, an 

institution can be added to the list by 

self-certifying that the institution meets 

the above definition. FDIC examiners 

will review the accuracy of the list 

during regular examinations, and case 

managers will incorporate any changes 

due to mergers, acquisitions, and 

changes in control. The FDIC will also 

work with the other Federal regulatory 

agencies to make certain that the 

minority-owned institutions that they 

supervise are included on the list. The 

revised Policy Statement makes it clear, 

however, that inclusion on the list is 

voluntary and any institution that does 

not want to be included will be removed 

from the official list. The FDIC invites 

comments on this approach to compile 

a list of minority-owned institutions. 

The revised Policy Statement also 

proposes to designate a national 

coordinator for the FDIC’s minorityowned institution program. The 

national coordinator will be located at 

the FDIC’s Washington, DC 

headquarters. That person will act as a 

liaison between the Division of 

Supervision and officials from the 

Division of Compliance and Consumer 

Affairs, the Office of Diversity and 

Economic Opportunity and the Division 

of Resolutions and Receiverships and 

the other federal financial regulators. 

The national coordinator will regularly 

contact the various minority-owned 

institution trade associations to obtain 

feedback on the FDIC’s efforts under the 

program. The national coordinator will 

be responsible for contacting the other 

Federal financial regulatory agencies to 

discuss their outreach efforts and to 

identify opportunities for the agencies 

to work together to assist minorityowned institutions. The national 

coordinator will also guide subject 

matter experts in each of the FDIC’s 

eight regional offices who will oversee 

their region’s efforts under the program. 

The FDIC believes that the more 

formalized structure within the Division 

of Supervision will facilitate more 

meaningful and helpful 

communications between the FDIC and 

minority-owned institutions since these 

employees will be available to answer 

questions or provide assistance on 

issues presented by minority-owned 

institutions. The FDIC specifically seeks 

comment on this proposed 

organizational structure. 

The revised Policy Statement also 

discusses the types of technical 

assistance that will be provided by the 

FDIC to minority-owned institutions. 

The Policy Statement sets forth 

examples of ways that FDIC staff will be 

able to provide assistance to minorityowned institutions while making it clear 

that staff will not perform duties and 

tasks reserved for management of a 

minority-owned institution. In addition 

to being available to answer questions 

and provide guidance to a minorityowned institution, the FDIC is also 

proposing to have staff return to any 

minority-owned institution 

approximately 90 to 120 days after the 

conclusion of an examination to review 

any areas of concern identified during 

the examination or any issues of 

particular interest to the institution. The 

minority-owned institution may accept 

or decline this offer of assistance. The 

FDIC invites comments on the scope of 

technical assistance that would be 

provided by the FDIC and the optional 

return visit at the conclusion of an 

examination of a minority-owned 

institution. 

The revised Policy Statement also 

proposes that the FDIC work with trade 

associations representing minorityowned institutions, as well as other 

regulatory agencies, to discuss and 

provide for training opportunities for 

minority-owned institutions. The 

proposed Policy Statement provides that 

the FDIC will partner with certain trade 

associations to offer training programs 

during their annual conferences and 

regional meetings. The FDIC solicits 

comments on other methods to identify 

and provide training and educational 

programs that would be beneficial to 

minority-owned institutions. 

The revised Policy Statement also 

discusses the issue of failing 

institutions. The revised Policy 

Statement states that the Division of 

Resolutions and Receiverships is the 

appropriate division in the FDIC to deal 

with issues regarding failing 

institutions. While the original Policy 

Statement provided for certain 

preferences to be given to minorityowned institutions in the resolution of 

failed institutions pursuant to Sections 

13(k) and 13(f)(12) of the FDI Act, the 

revised Policy Statement takes into 

account both the decision of the United 

States Supreme Court in Adarand 

Constructors, Inc. v. Pena, 115 S. Ct. 

2097 (1995) and the statutory 

requirement under Section 13(c)(4) 

enacted in 1991 that failed institutions 

be resolved in a manner that results in 

the least cost to the insurance fund. The 

Adarand decision held that federal 

affirmative action programs that use 

racial and ethnic criteria as a basis for 

decisionmaking are subject to strict 

judicial scrutiny. The decision set forth 

a two-prong test to determine whether 

federally administered affirmative 

action programs are constitutional. The 

first prong of the test requires the 

government to demonstrate a 

compelling interest in remedying past or 

persistent continuing or lingering 

discrimination against minorities and 

the second prong requires that any 

remedy be narrowly tailored to cure a 

specific identified problem. While 

Adarand was a contracts case, the strict 

scrutiny standard of review will apply 

whenever the federal government 

voluntarily adopts a racial or ethnic 

Federal Register / Vol. 67, No. 1 / Wednesday, January 2, 2002 / Notices 79

classification as a basis for 

decisionmaking. As a result, this ruling 

has had a significant impact on the 

FDIC’s ability to give preference to 

minority institutions in a resolutions 

context. In October of 2001, the U.S. 

Supreme Court heard another case 

involving Adarand Constructors. While 

the FDIC had hoped to gain additional 

guidance on what actions may be 

permissible regarding the minority 

preference statutes, the Supreme Court 

declined to render a decision in the case 

citing procedural problems with the 

case that prevented the Court from 

addressing the merits of the affirmative 

action complaint. 

Additionally, the least-cost resolution 

requirement also significantly reduced 

the ability of the FDIC to give preference 

to minority institutions in the resolution 

of failed institutions. However, the 

Division of Resolutions and 

Receiverships will work with the 

Division of Supervision and the Office 

of Diversity and Economic Opportunity 

to ensure that all qualified minority 

institutions and individuals that have 

expressed an interest in acquiring a 

minority-owned institution are notified 

of any potential failure. The FDIC 

invites the public to comment on the 

methodology to be used to ensure that 

all qualified minority-owned 

institutions will be made aware of 

situations involving the failure of a 

minority-owned institution. 

To ensure that the regional 

coordinators are meeting the goals 

associated with the revised Policy 

Statement, the proposed Policy 

Statement requires them to provide 

quarterly reports to the national 

coordinator on their region’s activities 

relating to minority-owned institutions. 

The national coordinator, in turn, will 

compile the results of the eight regional 

reports and provide a quarterly 

summary to the Office of the Chairman. 

The FDIC’s Annual Report will also 

contain information relating to the 

agency’s efforts to promote and preserve 

minority-owned financial institutions. 

The proposed Policy Statement also 

provides for the FDIC to create a 

Webpage on its Internet site 

(www.fdic.gov) to promote the minorityowned institution program. It is 

anticipated that the Webpage will 

describe the program, contain 

information regarding the national 

coordinator and the regional 

coordinators and provide links to the 

list of minority-owned institutions, their 

trade associations and other programs 

that specifically affect minority-owned 

institutions. The FDIC invites the public 

to comment on the types of information 

that would be helpful and beneficial to 

include on the agency’s Web page 

regarding the minority-owned 

institution program. 

The text of the proposed Policy 

Statement follows: 

Federal Deposit Insurance Corporation 

Policy Statement Regarding MinorityOwned Depository Institutions 

Minority-owned depository 

institutions often promote the economic 

viability of minority and under-served 

communities. The FDIC has long 

recognized the importance of minorityowned institutions and has historically 

taken steps to preserve and encourage 

minority ownership of insured financial 

institutions. 

Statutory Framework 

In August 1989, Congress enacted the 

Financial Institutions Reform, Recovery, 

and Enforcement Act of 1989 

(‘‘FIRREA’’). Section 308 of FIRREA 

established the following goals: 

• Preserve the number of minorityowned depository institutions; 

• Preserve the minority character in 

cases of merger or acquisition; 

• Provide technical assistance to 

prevent insolvency of institutions not 

now insolvent; 

• Promote and encourage creation of 

new minority-owned depository 

institutions; and 

• Provide for training, technical 

assistance, and educational programs. 

Definition 

‘‘Minority’’ as defined by Section 308 

of FIRREA means any Black American, 

Asian American, Hispanic American, or 

Native American. For the purposes of 

this Policy Statement, the term 

‘‘minority-owned institution’’ means 

any Federally insured depository 

institution where 51 percent or more of 

the voting stock is owned by minority 

individuals. This includes institutions 

collectively owned by a group of 

minority individuals, such as a Native 

American Tribe. However, ownership 

by non-U.S. citizens will not be counted 

in determining minority-owned status. 

Mutual, publicly traded, and widely 

held institutions will be considered 

minority-owned if a majority of the 

Board of Directors, account holders, and 

the community which the institution 

serves are predominantly minority, 

regardless of non-minority or non-U.S. 

citizen ownership. 

Identification of Minority-Owned 

Institutions 

To ensure that all minority-owned 

depository institutions are able to 

participate in the program, the FDIC 

will maintain a list of federally insured 

minority-owned institutions. 

Institutions that are not already 

identified as minority-owned by the 

FDIC can request to be designated as 

such by certifying that they meet the 

above definition. For institutions 

supervised directly by the FDIC, our 

examiners will review the accuracy of 

the list during the examination process. 

In addition, case managers in our 

regional offices will note changes to the 

list while processing deposit insurance 

applications, merger applications, 

change of control notices, or failures of 

minority-owned institutions. The FDIC 

will work closely with the other Federal 

regulatory agencies to ensure that 

institutions not directly supervised by 

the FDIC are accurately captured on our 

list. In addition, the FDIC will 

periodically provide the list to relevant 

trade associations and seek input 

regarding its accuracy. Inclusion in the 

FDIC’s minority-owned institution 

program is voluntary. Any minorityowned institution not wishing to 

participate in this program will be 

removed from the official list upon 

request. 

Organizational Structure 

The Division of Supervision has 

designated a national coordinator for the 

FDIC’s minority-owned institutions 

program in the Washington Office and 

a regional coordinator in each Regional 

Office. The national coordinator will 

consult with officials from the Division 

of Compliance and Consumer Affairs, 

the Office of Diversity and Economic 

Opportunity, the Legal Division, and the 

Division of Resolutions and 

Receiverships to ensure appropriate 

personnel are involved in program 

initiatives. The national coordinator 

will regularly contact the various 

minority-owned institution trade 

associations to seek feedback on the 

FDIC’s efforts under this program, 

discuss possible training initiatives, and 

explore options for preserving and 

promoting minority ownership of 

depository institutions. As the primary 

Federal regulator for State nonmember 

banks, the FDIC will focus its efforts on 

these institutions. However, the national 

coordinator will meet with the other 

Federal regulators periodically to 

discuss each agency’s outreach efforts, 

to share ideas, and to identify 

opportunities where the agencies can 

work together to assist minority-owned 

institutions. Representatives of other 

divisions and offices may participate in 

these meetings. 

The regional coordinators are 

knowledgeable about minority-owned 

bank issues and are available to answer 

questions or to direct inquiries to the 

80 Federal Register / Vol. 67, No. 1 / Wednesday, January 2, 2002 / Notices 

appropriate office. However, each FDIC 

insured institution has previously been 

assigned a specific case manager in their 

regional office who will continue to be 

the institution’s central point of contact 

at the FDIC. At least annually, regional 

coordinators will contact each minorityowned, State nonmember bank in their 

respective regions to discuss the FDIC’s 

efforts to promote and preserve minority 

ownership of financial institutions and 

will offer to have a member of regional 

management meet with the institution’s 

board of directors to discuss issues of 

interest. Finally, the regional 

coordinators will contact all new 

minority-owned State nonmember 

banks identified through insurance 

applications, merger applications, or 

change in control notices to familiarize 

the institutions with the FDIC’s 

minority-owned institution program. 

Technical Assistance 

The FDIC can provide technical 

assistance to minority-owned 

institutions in several ways on a variety 

of issues. An institution can contact its 

case manager for assistance in 

understanding bank regulations, FDIC 

policies, examination procedures, etc. 

Case managers can also explain the 

application process and the type of 

analysis and information required for 

different applications. During 

examinations, examiners are expected to 

fully explain any supervisory 

recommendations and should offer to 

help management understand 

satisfactory methods to address such 

recommendations. 

At the conclusion of each 

examination of a minority-owned 

institution directly supervised by the 

FDIC, the FDIC will offer to have 

representatives return to the institution 

approximately 90 to 120 days later to 

review areas of concern or topics of 

interest to the institution. The purpose 

of the return visit will be to provide 

technical assistance, not to identify new 

problems. The level of technical 

assistance provided should be 

commensurate with the issues facing the 

institution, but FDIC employees will not 

perform tasks expected of an 

institution’s management or employees. 

For example, FDIC employees may 

explain Call Report instructions as they 

relate to specific accounts, but will not 

assist in the preparation of an 

institution’s Call Report. As another 

example, FDIC employees may provide 

information on community 

reinvestment opportunities, but will not 

participate in a specific transaction. 

Training and Educational Programs 

The FDIC will work with trade 

associations representing minorityowned institutions and other regulatory 

agencies to periodically assess the need 

for, and provide for, training 

opportunities and educational 

opportunities. We will partner with the 

trade associations to offer training 

programs during their annual 

conferences and other regional 

meetings. 

Failing Institutions 

In the event of a potential failure of 

a minority-owned institution, the 

Division of Resolutions and 

Receiverships will contact all minorityowned institutions nationwide that 

qualify to bid on failing institutions. 

The Division of Resolutions and 

Receiverships will solicit qualified 

minority-owned institutions’ interest in 

the failing institution, discuss the 

bidding process, and upon request, offer 

to provide technical assistance 

regarding completion of the bid forms. 

In addition, the Division of Resolutions 

and Receiverships, with assistance from 

the Office of Diversity and Economic 

Opportunity, will maintain a list of 

minority individuals and nonbank 

entities that have expressed an interest 

in acquiring failing minority-owned 

institutions. Trade associations that 

represent minority-owned institutions 

(the National Bankers Association, the 

American League of Financial 

Institutions, and the North American 

Native Bankers Association) will also be 

contacted periodically to help identify 

possible interested parties. 

Reporting 

The regional coordinators will report 

their region’s activities related to this 

Policy Statement to the national 

coordinator quarterly. The national 

coordinator will compile the results of 

the regional offices’ reports and submit 

a quarterly summary to the Office of the 

Chairman. Our efforts to preserve and 

promote minority ownership of 

depository institutions will also be 

highlighted in the FDIC’s Annual 

Report. 

Internet Site 

The FDIC will create a Webpage on its 

Internet site (www.fdic.gov) to promote 

the minority-owned institution program. 

Among other things, the page will 

describe the program and include the 

name, phone number, and email address 

of the national coordinator and each 

regional coordinator. The page will also 

contain links to the list of minorityowned institutions, pertinent trade 

associations, and other regulatory 

agency programs. We will also explore 

the feasibility and usefulness of posting 

other items to the page, such as 

statistical information and comparative 

data for minority-owned institutions. 

Visitors will have the opportunity to 

provide feedback regarding the program 

on the Web page.

By order of the Board of Directors.

Dated at Washington, DC., this 20th day of 

December, 2001.

Federal Deposit Insurance Corporation. 

Robert E. Feldman, 

Executive Secretary.

[FR Doc. 01–32155 Filed 12–31–01; 8:45 am] 

BILLING CODE 6714–01–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 January 

16, 2002.

A. Federal Reserve Bank of Chicago

(Phillip Jackson, Applications Officer) 

230 South LaSalle Street, Chicago, 

Illinois 60690–1414:

1. CoVest Bancshares, Inc. Employee 

Stock Ownership Plan Trust, James L. 

Roberts (Trustee), Paul A. Larsen 

(Trustee), and Barbara A. Buscemi 

(Trustee), all of Des Plaines, Illinois; to 

retain voting shares of CoVest 

Bancshares, Inc., and Covest Banc, 

National Association, both of Des 

Plaines, Illinois.

Board of Governors of the Federal Reserve 

System, December 26, 2001.

Jennifer J. Johnson,

Secretary of the Board.

[FR Doc. 01–32132 Filed 12–31–01; 8:45 am]

BILLING CODE 6210–01–S