81_FR_72257 81 FR 72055 - Notice of Proposals To Engage in or To Acquire Companies Engaged in Permissible Nonbanking Activities

81 FR 72055 - Notice of Proposals To Engage in or To Acquire Companies Engaged in Permissible Nonbanking Activities

FEDERAL RESERVE SYSTEM

Federal Register Volume 81, Issue 202 (October 19, 2016)

Page Range72055-72055
FR Document2016-25267

Federal Register, Volume 81 Issue 202 (Wednesday, October 19, 2016) 
[Federal Register Volume 81, Number 202 (Wednesday, October 19, 2016)]
[Notices]
[Page 72055]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-25267]


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FEDERAL RESERVE SYSTEM


Notice of Proposals To Engage in or To Acquire Companies Engaged 
in Permissible Nonbanking Activities

    The companies listed in this notice have given notice under section 
4 of the Bank Holding Company Act (12 U.S.C. 1843) (BHC Act) and 
Regulation Y, (12 CFR part 225) to engage de novo, or to acquire or 
control voting securities or assets of a company, including the 
companies listed below, that engages either directly or through a 
subsidiary or other company, in a nonbanking activity that is listed in 
Sec.  225.28 of Regulation Y (12 CFR 225.28) or that the Board has 
determined by Order to be closely related to banking and permissible 
for bank holding companies. Unless otherwise noted, these activities 
will be conducted throughout the United States.
    Each notice is available for inspection at the Federal Reserve Bank 
indicated. The notice also will be available for inspection at the 
offices of the Board of Governors. Interested persons may express their 
views in writing on the question whether the proposal complies with the 
standards of section 4 of the BHC Act.
    Unless otherwise noted, comments regarding the applications must be 
received at the Reserve Bank indicated or the offices of the Board of 
Governors not later than November 15, 2016.
    A. Federal Reserve Bank of San Francisco (Gerald C. Tsai, Director, 
Applications and Enforcement) 101 Market Street, San Francisco, 
California 94105-1579:
    1. H Bancorp LLC, Irvine, California, to acquire additional shares 
of Bay Bancorp, Inc., and indirectly of Bay Bank, FSB, both in 
Columbia, Maryland, and thereby engage in operating a savings and loan 
association.

    Board of Governors of the Federal Reserve System, October 14, 
2016.
Margaret McCloskey Shanks,
Deputy Secretary of the Board.
[FR Doc. 2016-25267 Filed 10-18-16; 8:45 am]
 BILLING CODE 6210-01-P

Federal Register / Vol. 81, No. 202 / Wednesday, October 19, 2016 / Notices 72055 foreign entity should be reported as an holdings differently, and (6) update the Board of Governors of the Federal Reserve LLC. After review and consideration, RSSD search function. The Federal System, October 14, 2016. the Federal Reserve decided not to make Reserve need additional time to Margaret McCloskey Shanks, these changes. Given the vast number of investigate whether these enhancements Deputy Secretary of the Board. diverse organizational structures, the are feasible and may consider them as [FR Doc. 2016–25267 Filed 10–18–16; 8:45 am] Federal Reserve believes that it is up to a part of a future proposal as costs and BILLING CODE 6210–01–P each respondent to apply judgement in resources permit. determining whether a particular entity type fits within the legal entity Board of Governors of the Federal Reserve FEDERAL RESERVE SYSTEM structures listed in the form, including System, October 13, 2016. whether a foreign entity should be Robert deV. Frierson, Formations of, Acquisitions by, and reported as an LLC. If a respondent Secretary of the Board. Mergers of Bank Holding Companies determines that a business organization [FR Doc. 2016–25203 Filed 10–18–16; 8:45 am] The companies listed in this notice does not fit within any of the legal BILLING CODE 6210–01–P have applied to the Board for approval, entity structures listed in the form, pursuant to the Bank Holding Company including the definition of LLC, it may Act of 1956 (12 U.S.C. 1841 et seq.) report the legal entity as ‘‘Other’’ and FEDERAL RESERVE SYSTEM provide a description of its unique (BHC Act), Regulation Y (12 CFR part characteristics. 225), and all other applicable statutes Notice of Proposals To Engage in or and regulations to become a bank The commenter requested To Acquire Companies Engaged in clarification on how to report ownership holding company and/or to acquire the Permissible Nonbanking Activities assets or the ownership of, control of, or interests in LLCs when the organization’s governing documents are the power to vote shares of a bank or The companies listed in this notice bank holding company and all of the silent regarding the designation of a have given notice under section 4 of the managing member and where an entity banks and nonbanking companies Bank Holding Company Act (12 U.S.C. owned by the bank holding company, is designated as a manager (i.e., actively 1843) (BHC Act) and Regulation Y, (12 including the companies listed below. manages the day-to-day operation of the CFR part 225) to engage de novo, or to The applications listed below, as well LLC), but has no ownership interest in the LLC. In addition, the commenter acquire or control voting securities or as other related filings required by the suggested that a flowchart be provided assets of a company, including the Board, are available for immediate in the instructions to indicate how to companies listed below, that engages inspection at the Federal Reserve Bank report these interests. After review and either directly or through a subsidiary or indicated. The applications will also be consideration, the Federal Reserve other company, in a nonbanking activity available for inspection at the offices of decided not to make these changes. that is listed in § 225.28 of Regulation Y the Board of Governors. Interested Since each respondent’s relationship (12 CFR 225.28) or that the Board has persons may express their views in with the LLC will vary and the determined by Order to be closely writing on the standards enumerated in determination of whether to report its related to banking and permissible for the BHC Act (12 U.S.C. 1842(c)). If the ownership interest as a managing or bank holding companies. Unless proposal also involves the acquisition of non-managing member may depend otherwise noted, these activities will be a nonbanking company, the review also upon a combination of factors, conducted throughout the United States. includes whether the acquisition of the including applicable state laws, the nonbanking company complies with the Each notice is available for inspection standards in section 4 of the BHC Act respondent should consult with its legal at the Federal Reserve Bank indicated. (12 U.S.C. 1843). Unless otherwise staff to take into account these unique facts and circumstances and report its The notice also will be available for noted, nonbanking activities will be interest in the manner it deems most inspection at the offices of the Board of conducted throughout the United States. appropriate. Governors. Interested persons may Unless otherwise noted, comments The commenter requested an express their views in writing on the regarding each of these applications established and consistent process for question whether the proposal complies must be received at the Reserve Bank withdrawing an erroneous FR Y–10 with the standards of section 4 of the indicated or the offices of the Board of report that should not have been filed. BHC Act. Governors not later than November 15, The Federal Reserve support Unless otherwise noted, comments 2016. incorporating procedures for this regarding the applications must be A. Federal Reserve Bank of Cleveland process and will consider adding them received at the Reserve Bank indicated (Nadine Wallman, Vice President) 1455 as part of a future proposal. East Sixth Street, Cleveland, Ohio or the offices of the Board of Governors Finally, the commenter requested 44101–2566. Comments can also be sent several other technical enhancements to not later than November 15, 2016. electronically to the FR Y–10 online application: (1) A. Federal Reserve Bank of San comments.applications@clev.frb.org: Establish a process for withdrawing an Francisco (Gerald C. Tsai, Director, 1. Standard Financial Corporation, FR Y–10 report that should not have Applications and Enforcement) 101 Murrysville, Pennsylvania; to acquire been filed, (2) add straight-through Market Street, San Francisco, California Allegheny Valley Bancorp, Inc., and processing of the FR Y–10 either 94105–1579: thereby acquire control of Allegheny directly from internal systems or sradovich on DSK3GMQ082PROD with NOTICES 1. H Bancorp LLC, Irvine, California, Valley Bank of Pittsburgh, both of through a data load process, (3) add a to acquire additional shares of Bay Pittsburgh, Pennsylvania. notification that informs the reporter B. Federal Reserve Bank of Kansas Bancorp, Inc., and indirectly of Bay after an event has been processed, (4) City (Dennis Denney, Assistant Vice Bank, FSB, both in Columbia, Maryland, add foreign branch entities, (5) remove President) 1 Memorial Drive, Kansas restriction in the FR Y–10 online and thereby engage in operating a City, Missouri 64198–0001: application to allow reporters that own savings and loan association. 1. Margaret Parker Platter Charitable interest in the same entity to report their Trust, Osceola, Missouri; to become a VerDate Sep<11>2014 17:39 Oct 18, 2016 Jkt 241001 PO 00000 Frm 00021 Fmt 4703 Sfmt 4703 E:\FR\FM\19OCN1.SGM 19OCN1


Document Created: 2016-10-19 02:12:00
Document Modified: 2016-10-19 02:12:00
CategoryRegulatory Information
CollectionFederal Register
sudoc ClassAE 2.7:
GS 4.107:
AE 2.106:
PublisherOffice of the Federal Register, National Archives and Records Administration
SectionNotices
FR Citation81 FR 72055 
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