49460 Federal Register / Vol. 61, No. 184 / Friday, September 20, 1996 / Notices
1 The Policy Statement was revised in light of
public comments on March 12, 1980, 45 FR 18116
(March 20, 1980), and extended to futures on
domestic bank certificates of deposit on October 13,
1981, 46 FR 51301 (October 19, 1981).
2 The Policy Statement refers to put options as
‘‘standby contracts.’’
the quality, utility, and clarify 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: Persons wishing to comment on
this information collection should
submit comments by November 19,
1996.
ADDRESSES: Direct all comments to
Dorothy Conway, Federal
Communications Commission, Room
234, 1919 M St., N.W., Washington, DC
20554 or via internet to
dconway@fcc.gov.
FOR FURTHER INFORMATION CONTACT: For
additional information or copies of the
information collections contact Dorothy
Conway at 202–418–0217 or via internet
at dconway@fcc.gov.
SUPPLEMENTARY INFORMATION:
OMB Approval No.: 3060–0113.
Title: EEO Program Report.
Form No.: FCC 396.
Type of Review: Extension of an
existing collection.
Respondents: Businesses or other for
profit; not-for-profit institutions.
Number of Respondents: 6,000.
Estimate Hour Per Response: 3 hours
per response.
Total Annual Burden: 18,000.
Needs and Uses: The Broadcast EEO
Program Report (FCC Form 396) is a
device that is used to evaluate a
broadcaster’s EEO program to ensure
that they are making satisfactory efforts
to comply with FCC’s EEO
requirements. FCC Form 396 is required
to be filed at the time of renewal of
license by all AM, FM, TV, Low Power
TV and International stations with five
or more full-time employees.
OMB Approval No.: 3060–0208.
Title: 73.1870 Chief Operators.
Form No.: N/A.
Type of Review: Extension.
Respondents: Businesses or other for
profit; not-for-profit institutions.
Number of Respondents: 13,600.
Estimated Hour Per Response: 26.166
hours.
Total Annual Burden: 355,858 hours.
Needs and Uses: Section 73.1870
requires that the licensee of an AM, FM,
or TV broadcast station designate a chief
operator of the station. Section
73.1870(b)(3) requires that this
designation must be in writing and
posted at the transmitter site.
Agreements with chief operators serving
on a contract basis must be in writing
with a copy kept in the station files.
Section 73.1870(c)(3) requires that the
chief operator, or personnel delegated
and supervised by the chief operator,
review the station records at least once
each week to determine if required
entries are being made correctly, and
verify that the station has been operated
in accordance with FCC rules and the
station authorization. Upon completion
of the review, the chief operator must
date and sign the log, initiate any
corrective action which may be
necessary and advise the station
licensee of any condition which is
repetitive. The posting of the
designation of the chief operator is used
by interested persons to readily identify
the chief operator. The review of the
station records is used by the chief
operator, and FCC staff in
investigations, to assure that the station
is operating in accordance with its
station authorization and the FCC rules
and regulations.
Federal Communications Commission
William F. Caton,
Acting Secretary.
[FR Doc. 96–23875 Filed 9–19–96; 8:45 am]
BILLING CODE 6712–01–P
FEDERAL DEPOSIT INSURANCE
CORPORATION
Interest Rate Futures Contracts,
Forward Contracts, and Standby
Contracts; Rescission of Policy
Statement
AGENCY: Federal Deposit Insurance
Corporation (FDIC).
ACTION: Rescission of Policy Statement.
SUMMARY: As part of the FDIC’s
systematic review of its regulations and
written policies under section 303(a) of
the Riegle Community Development and
Regulatory Improvement Act of 1994
(CDRI), the FDIC is rescinding its
Statement of Policy Concerning Interest
Rate Futures Contracts, Forward
Contracts and Standby Contracts (Policy
Statement). The Policy Statement
provides guidance to state nonmember
banks entering into certain interest rate
derivative transactions. The FDIC is
rescinding the Policy Statement because
it is outmoded and duplicative of
subsequently-issued, more
comprehensive FDIC guidance
encompassing this subject.
DATES: This Policy Statement is
rescinded September 20, 1996.
FOR FURTHER INFORMATION CONTACT:
William A. Stark, Assistant Director,
(202/898–6972), Kenton Fox, Senior
Capital Markets Specialist, (202/898–
7119), Division of Supervision; Jamey
Basham, Counsel, (202/898–7265), Legal
Division, FDIC, 550 17th Street, N.W.,
Washington, D.C. 20429.
SUPPLEMENTARY INFORMATION: The FDIC
is conducting a systematic review of its
regulations and written policies. Section
303(a) of the CDRI (12 U.S.C. 4803(a))
requires each federal banking agency to
streamline and modify its regulations
and written policies in order to improve
efficiency, reduce unnecessary costs,
and eliminate unwarranted constraints
on credit availability. Section 303(a)
also requires each federal banking
agency to remove inconsistencies and
outmoded and duplicative requirements
from its regulations and written
policies.
As part of this review, the FDIC has
determined that the Policy Statement is
outmoded and duplicative, and that the
FDIC’s written policies can be
streamlined by its elimination.
The FDIC originally adopted the
Policy Statement on November 13, 1979.
44 FR 66673 (November 20, 1979).1 The
Policy Statement provides guidance to
state nonmember banks that wish to
enter into positions in futures contracts,
forward contracts and put options 2 on
U.S. government or agency securities, or
purchase or sell futures on domestic
bank certificates of deposit. The Policy
Statement outlines safety and soundness
considerations including the
establishment of position risk limits and
investment policy objectives
appropriate to the institution’s business
strategy, measuring and monitoring the
interest rate risk presented by the
positions, and maintaining proper
internal control. The Policy Statement
also provides guidance for the
regulatory reporting treatment of the
positions and associated gains and
losses.
In the time since the Policy Statement
was issued, the complexity and size of
the financial derivatives market, of
which the particular contracts
addressed in the Policy Statement are a
significant subset as far as state
nonmember banks are concerned, has
expanded markedly. Throughout this
expansion, the FDIC has recognized that
the appropriate use of derivatives can
confer substantial benefits to banks, but
that the complexity of the contracts and
market requires institutions to have
acceptable capital levels, suitable
expertise, and sufficient management
controls. On May 18, 1994, the FDIC
issued Financial Institution Letter 34–
1 The Policy Statement was revised in light of
public comments on March 12, 1980, 45 FR 18116
(March 20, 1980), and extended to futures on
domestic bank certificates of deposit on October 13,
1981, 46 FR 51301 (October 19, 1981).
2 The Policy Statement refers to put options as
‘‘standby contracts.’’
the quality, utility, and clarify 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: Persons wishing to comment on
this information collection should
submit comments by November 19,
1996.
ADDRESSES: Direct all comments to
Dorothy Conway, Federal
Communications Commission, Room
234, 1919 M St., N.W., Washington, DC
20554 or via internet to
dconway@fcc.gov.
FOR FURTHER INFORMATION CONTACT: For
additional information or copies of the
information collections contact Dorothy
Conway at 202–418–0217 or via internet
at dconway@fcc.gov.
SUPPLEMENTARY INFORMATION:
OMB Approval No.: 3060–0113.
Title: EEO Program Report.
Form No.: FCC 396.
Type of Review: Extension of an
existing collection.
Respondents: Businesses or other for
profit; not-for-profit institutions.
Number of Respondents: 6,000.
Estimate Hour Per Response: 3 hours
per response.
Total Annual Burden: 18,000.
Needs and Uses: The Broadcast EEO
Program Report (FCC Form 396) is a
device that is used to evaluate a
broadcaster’s EEO program to ensure
that they are making satisfactory efforts
to comply with FCC’s EEO
requirements. FCC Form 396 is required
to be filed at the time of renewal of
license by all AM, FM, TV, Low Power
TV and International stations with five
or more full-time employees.
OMB Approval No.: 3060–0208.
Title: 73.1870 Chief Operators.
Form No.: N/A.
Type of Review: Extension.
Respondents: Businesses or other for
profit; not-for-profit institutions.
Number of Respondents: 13,600.
Estimated Hour Per Response: 26.166
hours.
Total Annual Burden: 355,858 hours.
Needs and Uses: Section 73.1870
requires that the licensee of an AM, FM,
or TV broadcast station designate a chief
operator of the station. Section
73.1870(b)(3) requires that this
designation must be in writing and
posted at the transmitter site.
Agreements with chief operators serving
on a contract basis must be in writing
with a copy kept in the station files.
Section 73.1870(c)(3) requires that the
chief operator, or personnel delegated
and supervised by the chief operator,
review the station records at least once
each week to determine if required
entries are being made correctly, and
verify that the station has been operated
in accordance with FCC rules and the
station authorization. Upon completion
of the review, the chief operator must
date and sign the log, initiate any
corrective action which may be
necessary and advise the station
licensee of any condition which is
repetitive. The posting of the
designation of the chief operator is used
by interested persons to readily identify
the chief operator. The review of the
station records is used by the chief
operator, and FCC staff in
investigations, to assure that the station
is operating in accordance with its
station authorization and the FCC rules
and regulations.
Federal Communications Commission
William F. Caton,
Acting Secretary.
[FR Doc. 96–23875 Filed 9–19–96; 8:45 am]
BILLING CODE 6712–01–P
FEDERAL DEPOSIT INSURANCE
CORPORATION
Interest Rate Futures Contracts,
Forward Contracts, and Standby
Contracts; Rescission of Policy
Statement
AGENCY: Federal Deposit Insurance
Corporation (FDIC).
ACTION: Rescission of Policy Statement.
SUMMARY: As part of the FDIC’s
systematic review of its regulations and
written policies under section 303(a) of
the Riegle Community Development and
Regulatory Improvement Act of 1994
(CDRI), the FDIC is rescinding its
Statement of Policy Concerning Interest
Rate Futures Contracts, Forward
Contracts and Standby Contracts (Policy
Statement). The Policy Statement
provides guidance to state nonmember
banks entering into certain interest rate
derivative transactions. The FDIC is
rescinding the Policy Statement because
it is outmoded and duplicative of
subsequently-issued, more
comprehensive FDIC guidance
encompassing this subject.
DATES: This Policy Statement is
rescinded September 20, 1996.
FOR FURTHER INFORMATION CONTACT:
William A. Stark, Assistant Director,
(202/898–6972), Kenton Fox, Senior
Capital Markets Specialist, (202/898–
7119), Division of Supervision; Jamey
Basham, Counsel, (202/898–7265), Legal
Division, FDIC, 550 17th Street, N.W.,
Washington, D.C. 20429.
SUPPLEMENTARY INFORMATION: The FDIC
is conducting a systematic review of its
regulations and written policies. Section
303(a) of the CDRI (12 U.S.C. 4803(a))
requires each federal banking agency to
streamline and modify its regulations
and written policies in order to improve
efficiency, reduce unnecessary costs,
and eliminate unwarranted constraints
on credit availability. Section 303(a)
also requires each federal banking
agency to remove inconsistencies and
outmoded and duplicative requirements
from its regulations and written
policies.
As part of this review, the FDIC has
determined that the Policy Statement is
outmoded and duplicative, and that the
FDIC’s written policies can be
streamlined by its elimination.
The FDIC originally adopted the
Policy Statement on November 13, 1979.
44 FR 66673 (November 20, 1979).1 The
Policy Statement provides guidance to
state nonmember banks that wish to
enter into positions in futures contracts,
forward contracts and put options 2 on
U.S. government or agency securities, or
purchase or sell futures on domestic
bank certificates of deposit. The Policy
Statement outlines safety and soundness
considerations including the
establishment of position risk limits and
investment policy objectives
appropriate to the institution’s business
strategy, measuring and monitoring the
interest rate risk presented by the
positions, and maintaining proper
internal control. The Policy Statement
also provides guidance for the
regulatory reporting treatment of the
positions and associated gains and
losses.
In the time since the Policy Statement
was issued, the complexity and size of
the financial derivatives market, of
which the particular contracts
addressed in the Policy Statement are a
significant subset as far as state
nonmember banks are concerned, has
expanded markedly. Throughout this
expansion, the FDIC has recognized that
the appropriate use of derivatives can
confer substantial benefits to banks, but
that the complexity of the contracts and
market requires institutions to have
acceptable capital levels, suitable
expertise, and sufficient management
controls. On May 18, 1994, the FDIC
issued Financial Institution Letter 34–
49461Federal Register / Vol. 61, No. 184 / Friday, September 20, 1996 / Notices
94, Examination Guidance on Financial
Derivatives (FIL–34–94). FIL–34–94
provides comprehensive guidance on
the risks attached to bank derivative
activities and the risk management
practices state nonmember banks should
observe in response.
In addition, on June 26, 1996, the
FDIC, together with the Office of the
Comptroller of the Currency and the
Board of Governors of the Federal
Reserve System, issued the Joint Agency
Policy Statement: Interest Rate Risk, 61
FR 33166 (June 26, 1996) (Joint Policy
Statement). The Joint Policy Statement
addresses the impact interest rate
fluctuations can have on an institution’s
earnings, assets, liabilities, and off-
balance-sheet instruments (including
contracts such as those addressed in the
Policy Statement), and gives
comprehensive guidance on an
appropriate interest rate risk
management system.
Moreover, subsequent to the adoption
of the Policy Statement, the regulatory
reporting guidance in the Policy
Statement was incorporated into the
instructions for the Consolidated Report
of Condition and Income (Call Report).
The reporting guidance in these Call
Report instructions will remain in
effect.
The FDIC’s issuance of these more
comprehensive guidance materials,
which subsume the activities addressed
in the Policy Statement, render its
continued existence unnecessary.
Section 303(a) of the CDRI also
requires the federal banking agencies to
work jointly towards uniformity of
guidelines implementing common
supervisory policies. Shortly after the
FDIC issued the Policy Statement, the
Board of Governors of the Federal
Reserve System (FRB) and the Office of
the Comptroller of the Currency (OCC)
issued similar documents. Policy
Statement Concerning Forward
Placement or Delayed Delivery
Contracts and Interest Rate Futures
Contracts, 44 FR 66673 (Nov. 20, 1979);
OCC Banking Circular 79 (2nd Rev.)
(March 19, 1980). On October 27, 1993,
the OCC, at the time it issued Banking
Circular 277 providing more
comprehensive guidance on all forms of
financial derivatives, rescinded BC–79.
Although the FRB until recently
maintained its version of the Policy
Statement on its books, Federal Reserve
Regulatory Service 3–1535, the FRB
acted on August 16, 1996 to rescind it.
For the above reasons, the Policy
Statement is rescinded.
By order of the Board of Directors.
Dated at Washington, D.C. this 10th day of
September 1996.
Federal Deposit Insurance Corporation
Jerry L. Langley,
Executive Secretary.
[FR Doc. 96–24084 Filed 9–19–96; 8:45 am]
BILLING CODE 6174–01–P
FEDERAL MARITIME COMMISSION
Ocean Freight Forwarder License
Applicants
Notice is hereby given that the
following applicants have filed with the
Federal Maritime Commission
applications for licenses as ocean freight
forwarders pursuant to section 19 of the
Shipping Act of 1984 (46 U.S.C. app.
1718 and 46 CFR 510).
Persons knowing of any reason why
any of the following applicants should
not receive a license are requested to
contact the Office of Freight Forwarders,
Federal Maritime Commission,
Washington, D.C. 20573.
G.S.I. Cargo Systems, Inc., 600 Bayview
Avenue, Inwood, NY 11096, Officers:
Gerald Greenstein, President;
Yitzchak Goldstein, Vice President
Atlantic Pacific International, Inc., 3049
Ualena Street, #715, Honolulu, Hawaii
96819, Officers: Jack Boria, President;
Wayne Berry, Vice President.
Dated: September 16, 1996.
Joseph C. Polking,
Secretary.
[FR Doc. 96–24104 Filed 9–19–96; 8:45 am]
BILLING CODE 6730–01–M
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. Once the application has
been accepted for processing, it 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
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,
including whether the acquisition of the
nonbanking company can ‘‘reasonably
be expected to produce benefits to the
public, such as greater convenience,
increased competition, or gains in
efficiency, that outweigh possible
adverse effects, such as undue
concentration of resources, decreased or
unfair competition, conflicts of
interests, or unsound banking practices’’
(12 U.S.C. 1843). Any request for
a hearing must be accompanied by a
statement of the reasons a written
presentation would not suffice in lieu of
a hearing, identifying specifically any
questions of fact that are in dispute,
summarizing the evidence that would
be presented at a hearing, and indicating
how the party commenting would be
aggrieved by approval of the proposal.
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 October 15,
1996.
A. Federal Reserve Bank of Cleveland
(R. Chris Moore, Senior Vice President)
1455 East Sixth Street, Cleveland, Ohio
44101:
1. DCB Financial Corp., Delaware,
Ohio; to become a bank holding
company by acquiring 100 percent of
the voting shares of The Delaware
County Bank & Trust Company,
Delaware, Ohio.
B. Federal Reserve Bank of Atlanta
(Zane R. Kelley, Vice President) 104
Marietta Street, N.W., Atlanta, Georgia
30303:
1. Forsyth Bancshares, Inc.,
Cumming, Georgia; to become a bank
holding company by acquiring 100
percent of the voting shares of The
Citizens Bank of Forsyth County,
Cumming, Georgia (in organization).
C. Federal Reserve Bank of Chicago
(James A. Bluemle, Vice President) 230
South LaSalle Street, Chicago, Illinois
60690:
1. Valley Bancshares, Inc., Nisswa,
Minnesota; to acquire 100 percent of the
voting shares of Minnesota Bancshares
Corporation, Augusta, Wisconsin, and
thereby acquire directly and indirectly
Brainerd National Bank, Baxter,
Minnesota.
D. Federal Reserve Bank of Dallas
(Genie D. Short, Vice President) 2200
94, Examination Guidance on Financial
Derivatives (FIL–34–94). FIL–34–94
provides comprehensive guidance on
the risks attached to bank derivative
activities and the risk management
practices state nonmember banks should
observe in response.
In addition, on June 26, 1996, the
FDIC, together with the Office of the
Comptroller of the Currency and the
Board of Governors of the Federal
Reserve System, issued the Joint Agency
Policy Statement: Interest Rate Risk, 61
FR 33166 (June 26, 1996) (Joint Policy
Statement). The Joint Policy Statement
addresses the impact interest rate
fluctuations can have on an institution’s
earnings, assets, liabilities, and off-
balance-sheet instruments (including
contracts such as those addressed in the
Policy Statement), and gives
comprehensive guidance on an
appropriate interest rate risk
management system.
Moreover, subsequent to the adoption
of the Policy Statement, the regulatory
reporting guidance in the Policy
Statement was incorporated into the
instructions for the Consolidated Report
of Condition and Income (Call Report).
The reporting guidance in these Call
Report instructions will remain in
effect.
The FDIC’s issuance of these more
comprehensive guidance materials,
which subsume the activities addressed
in the Policy Statement, render its
continued existence unnecessary.
Section 303(a) of the CDRI also
requires the federal banking agencies to
work jointly towards uniformity of
guidelines implementing common
supervisory policies. Shortly after the
FDIC issued the Policy Statement, the
Board of Governors of the Federal
Reserve System (FRB) and the Office of
the Comptroller of the Currency (OCC)
issued similar documents. Policy
Statement Concerning Forward
Placement or Delayed Delivery
Contracts and Interest Rate Futures
Contracts, 44 FR 66673 (Nov. 20, 1979);
OCC Banking Circular 79 (2nd Rev.)
(March 19, 1980). On October 27, 1993,
the OCC, at the time it issued Banking
Circular 277 providing more
comprehensive guidance on all forms of
financial derivatives, rescinded BC–79.
Although the FRB until recently
maintained its version of the Policy
Statement on its books, Federal Reserve
Regulatory Service 3–1535, the FRB
acted on August 16, 1996 to rescind it.
For the above reasons, the Policy
Statement is rescinded.
By order of the Board of Directors.
Dated at Washington, D.C. this 10th day of
September 1996.
Federal Deposit Insurance Corporation
Jerry L. Langley,
Executive Secretary.
[FR Doc. 96–24084 Filed 9–19–96; 8:45 am]
BILLING CODE 6174–01–P
FEDERAL MARITIME COMMISSION
Ocean Freight Forwarder License
Applicants
Notice is hereby given that the
following applicants have filed with the
Federal Maritime Commission
applications for licenses as ocean freight
forwarders pursuant to section 19 of the
Shipping Act of 1984 (46 U.S.C. app.
1718 and 46 CFR 510).
Persons knowing of any reason why
any of the following applicants should
not receive a license are requested to
contact the Office of Freight Forwarders,
Federal Maritime Commission,
Washington, D.C. 20573.
G.S.I. Cargo Systems, Inc., 600 Bayview
Avenue, Inwood, NY 11096, Officers:
Gerald Greenstein, President;
Yitzchak Goldstein, Vice President
Atlantic Pacific International, Inc., 3049
Ualena Street, #715, Honolulu, Hawaii
96819, Officers: Jack Boria, President;
Wayne Berry, Vice President.
Dated: September 16, 1996.
Joseph C. Polking,
Secretary.
[FR Doc. 96–24104 Filed 9–19–96; 8:45 am]
BILLING CODE 6730–01–M
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. Once the application has
been accepted for processing, it 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
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,
including whether the acquisition of the
nonbanking company can ‘‘reasonably
be expected to produce benefits to the
public, such as greater convenience,
increased competition, or gains in
efficiency, that outweigh possible
adverse effects, such as undue
concentration of resources, decreased or
unfair competition, conflicts of
interests, or unsound banking practices’’
(12 U.S.C. 1843). Any request for
a hearing must be accompanied by a
statement of the reasons a written
presentation would not suffice in lieu of
a hearing, identifying specifically any
questions of fact that are in dispute,
summarizing the evidence that would
be presented at a hearing, and indicating
how the party commenting would be
aggrieved by approval of the proposal.
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 October 15,
1996.
A. Federal Reserve Bank of Cleveland
(R. Chris Moore, Senior Vice President)
1455 East Sixth Street, Cleveland, Ohio
44101:
1. DCB Financial Corp., Delaware,
Ohio; to become a bank holding
company by acquiring 100 percent of
the voting shares of The Delaware
County Bank & Trust Company,
Delaware, Ohio.
B. Federal Reserve Bank of Atlanta
(Zane R. Kelley, Vice President) 104
Marietta Street, N.W., Atlanta, Georgia
30303:
1. Forsyth Bancshares, Inc.,
Cumming, Georgia; to become a bank
holding company by acquiring 100
percent of the voting shares of The
Citizens Bank of Forsyth County,
Cumming, Georgia (in organization).
C. Federal Reserve Bank of Chicago
(James A. Bluemle, Vice President) 230
South LaSalle Street, Chicago, Illinois
60690:
1. Valley Bancshares, Inc., Nisswa,
Minnesota; to acquire 100 percent of the
voting shares of Minnesota Bancshares
Corporation, Augusta, Wisconsin, and
thereby acquire directly and indirectly
Brainerd National Bank, Baxter,
Minnesota.
D. Federal Reserve Bank of Dallas
(Genie D. Short, Vice President) 2200