81 FR 78154 - Formations of, Acquisitions by, and Mergers of Bank Holding Companies

FEDERAL RESERVE SYSTEM

Federal Register Volume 81, Issue 215 (November 7, 2016)

Page Range		78154-78155
FR Document		2016-26863

Federal Register, Volume 81 Issue 215 (Monday, November 7, 2016)

[Federal Register Volume 81, Number 215 (Monday, November 7, 2016)]
[Notices]
[Pages 78154-78155]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-26863]


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FEDERAL RESERVE SYSTEM


Formations of, Acquisitions by, and Mergers of Bank Holding 
Companies

    The companies listed in this notice have applied to the Board for 
approval, pursuant to the Bank Holding Company Act of 1956 (12 U.S.C. 
1841 et seq.) (BHC Act), Regulation Y (12 CFR part 225), and all other 
applicable statutes and regulations to become a bank holding company 
and/or to acquire the assets or the ownership of, control of, or the 
power to vote shares of a bank or bank holding company and all of the 
banks and nonbanking companies owned by the bank holding company, 
including the companies listed below.
    The applications listed below, as well as other related filings 
required by the Board, are available for immediate inspection at the 
Federal Reserve Bank indicated. The applications will also be available 
for inspection at the offices of the Board of Governors. Interested 
persons may express their views in writing on the standards enumerated 
in the BHC Act (12 U.S.C. 1842(c)). If the proposal also involves the 
acquisition of

[[Page 78155]]

a nonbanking company, the review also includes whether the acquisition 
of the nonbanking company complies with the standards in section 4 of 
the BHC Act (12 U.S.C. 1843). Unless otherwise noted, nonbanking 
activities will be conducted throughout the United States.
    Unless otherwise noted, comments regarding each of these 
applications must be received at the Reserve Bank indicated or the 
offices of the Board of Governors not later than December 5, 2016.
    A. Federal Reserve Bank of Atlanta (Chapelle Davis, Assistant Vice 
President) 1000 Peachtree Street NE., Atlanta, Georgia 30309. Comments 
can also be sent electronically to [email protected]:
    1. Atlantic Coast Financial Corporation: To become a bank holding 
company by acquiring 100 percent of the outstanding shares of Atlantic 
Coast Bank, both of Jacksonville, Florida.

    Board of Governors of the Federal Reserve System, November 2, 
2016.
Michele Taylor Fennell,
Assistant Secretary of the Board.
[FR Doc. 2016-26863 Filed 11-4-16; 8:45 am]
 BILLING CODE 6210-01-P

78154 Federal Register / Vol. 81, No. 215 / Monday, November 7, 2016 / Notices

that there is inadequate lead time to After evaluating CARB’s 2013 HD OBD FEDERAL DEPOSIT INSURANCE
permit the development of technology Amendments and CARB’s submissions CORPORATION
necessary to meet the 2013 HD OBD for EPA review, EPA is hereby
New or Stricter Requirements that are confirming that the 2013 HD OBD Notice of the Termination of the
subject to the waiver request, giving Amendments, with the exception of the Receivership of 10508, Frontier Bank,
appropriate consideration to the cost of 2013 HD OBD New or Stricter FSB Palm Desert, California
compliance within that time.39 Requirements identified above, are The Federal Deposit Insurance
California’s accompanying enforcement within the scope of EPA’s previous Corporation (‘‘FDIC’’), as Receiver for
procedures would also be inconsistent waivers for the HD OBD Requirements 10508 Frontier Bank, FSB, Palm Desert,
with section 202(a) if the federal and and HD OBD Enforcement Regulation. California (‘‘Receiver’’) has been
California test procedures conflicted, In addition, EPA is hereby granting a authorized to take all actions necessary
i.e., if manufacturers would be unable to waiver for the 2013 HD OBD New or to terminate the receivership estate of
meet both the California and federal test Stricter Requirements. Frontier Bank, FSB (‘‘Receivership
requirements with the same test This decision will affect persons in Estate’’); the Receiver has made all
vehicle.40 California and those manufacturers and/
Regarding test procedure conflict, dividend distributions required by law.
or owners/operators nationwide who The Receiver has further irrevocably
CARB notes that there is no issue of test must comply with California’s authorized and appointed FDIC-
procedure inconsistency because federal requirements. In addition, because other Corporate as its attorney-in-fact to
regulations provide that engines states may adopt California’s standards execute and file any and all documents
certified to California’s HD OBD for which a section 209(b) waiver has
regulation are deemed to comply with that may be required to be executed by
been granted under section 177 of the the Receiver which FDIC-Corporate, in
federal standards. EPA has received no
Act if certain criteria are met, this its sole discretion, deems necessary;
adverse comment or evidence of test
decision would also affect those states including but not limited to releases,
procedure inconsistency. We therefore
and those persons in such states. For discharges, satisfactions, endorsements,
cannot find that the 2013 HD OBD New
these reasons, EPA determines and finds assignments and deeds.
or Stricter Requirements are
that this is a final action of national Effective November 1, 2016, the
inconsistent with federal test
applicability, and also a final action of Receivership Estate has been
procedures.
EPA also did not receive any nationwide scope or effect for purposes terminated, the Receiver discharged,
comments arguing that the 2013 HD of section 307(b)(1) of the Act. Pursuant and the Receivership Estate has ceased
OBD Amendments were technologically to section 307(b)(1) of the Act, judicial to exist as a legal entity.
infeasible or that the cost of compliance review of this final action may be sought Dated: November 1, 2016.
would be excessive, such that only in the United States Court of Federal Deposit Insurance Corporation.
California’s standards might be Appeals for the District of Columbia
Valerie J. Best,
inconsistent with section 202(a).41 In Circuit. Petitions for review must be
Assistant Executive Secretary.
EPA’s review of the 2013 HD OBD New filed by January 6, 2017. Judicial review
of this final action may not be obtained [FR Doc. 2016–26852 Filed 11–4–16; 8:45 am]
or Stricter Requirements, we likewise BILLING CODE 6714–01–P
cannot identify any requirements that in subsequent enforcement proceedings,
appear technologically infeasible or pursuant to section 307(b)(2) of the Act.
excessively expensive for manufacturers V. Statutory and Executive Order FEDERAL RESERVE SYSTEM
to implement within the timeframes Reviews
provided. EPA therefore cannot find Formations of, Acquisitions by, and
that the 2013 HD OBD New or Stricter As with past waiver and authorization
Mergers of Bank Holding Companies
Requirements do not provide adequate decisions, this action is not a rule as
lead time or are otherwise not defined by Executive Order 12866. The companies listed in this notice
technically feasible. Therefore, it is exempt from review by have applied to the Board for approval,
We therefore cannot find that the the Office of Management and Budget as pursuant to the Bank Holding Company
2013 HD OBD New or Stricter required for rules and regulations by Act of 1956 (12 U.S.C. 1841 et seq.)
Requirements that we analyzed under Executive Order 12866. (BHC Act), Regulation Y (12 CFR part
the waiver criteria are inconsistent with In addition, this action is not a rule 225), and all other applicable statutes
section 202(a). as defined in the Regulatory Flexibility and regulations to become a bank
Having found that the 2013 HD OBD Act, 5 U.S.C. 601(2). Therefore, EPA has holding company and/or to acquire the
New or Stricter Requirements satisfy not prepared a supporting regulatory assets or the ownership of, control of, or
each of the criteria for a waiver, and flexibility analysis addressing the the power to vote shares of a bank or
having received no evidence to impact of this action on small business bank holding company and all of the
contradict this finding, we cannot deny entities. banks and nonbanking companies
a waiver for the amendments. Further, the Congressional Review owned by the bank holding company,
IV. Decision Act, 5 U.S.C. 801, et seq., as added by including the companies listed below.
the Small Business Regulatory The applications listed below, as well
The Administrator has delegated the as other related filings required by the
Enforcement Fairness Act of 1996, does
authority to grant California section Board, are available for immediate
not apply because this action is not a
209(b) waivers to the Assistant inspection at the Federal Reserve Bank
sradovich on DSK3GMQ082PROD with NOTICES

rule for purposes of 5 U.S.C. 804(3).
Administrator for Air and Radiation. indicated. The applications will also be
Dated: October 24, 2016. available for inspection at the offices of
39 See, e.g., 38 F.R 30136 (November 1, 1973) and Janet G. McCabe, the Board of Governors. Interested
40 FR 30311 (July 18, 1975). Acting Assistant Administrator, Office of Air
40 See, e.g., 43 FR 32182 (July 25, 1978).
persons may express their views in
and Radiation. writing on the standards enumerated in
41 See, e.g., 78 FR 2134 (Jan. 9, 2013), 47 FR 7306,

7309 (Feb. 18, 1982), 43 FR 25735 (Jun. 17, 1978), [FR Doc. 2016–26865 Filed 11–4–16; 8:45 am] the BHC Act (12 U.S.C. 1842(c)). If the
and 46 FR 26371, 26373 (May 12, 1981). BILLING CODE 6560–50–P proposal also involves the acquisition of

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Document Created: 2018-02-14 08:21:41
Document Modified: 2018-02-14 08:21:41

Category		Regulatory Information
Collection		Federal Register
sudoc Class		AE 2.7: GS 4.107: AE 2.106:
Publisher		Office of the Federal Register, National Archives and Records Administration
Section		Notices
FR Citation		81 FR 78154