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