institution to be acquired, the amount of investment in the insured institution and the investment as a percentage of the acquiror's net worth and (2) the amount of each entry as a percentage of the acquiror's total assets, net worth and gross income: (3) available unaudited financial statements for each entity for which a waiver has been requested which include at least three years of statements for each entity of operations and interim statements within 90 days of the most recently filed amendment, and 2 years of statements of condition and interim statements within 90 days of the most recently filed amendments: (4) a letter from an independent accountant indicating changes that would be required to reconcile the financial statements with ones prepared on a basis that would be consistent with generally accepted accounting principles; and (5) the lastest available Federal income tax returns for each entity for the immediately preceding two taxable years.

(v) Notification of the state supervisory agent pursuant to § 574.6(h) of this Part.

(4) Appeal. Denial of an application or notice by a Principal Supervisory Agent pursuant to paragraph (a) of this section may be appealed to the Corporation under the following procedures: Within 20 days after notification of the Principal Supervisory Agent's decision as provided herein, the acquiror must notify the Office of the Secretariat of the acquiror's desire to appeal the Principal Supervisory agent's decision. Two copies of such request for review must be submitted to the Office of the Secretariat, Federal Home Loan Bank Board. Washington, D.C. 20552, with one copy indicated "Attention: Director. Office of Examinations and Supervision" and a second copy indicated "Attention: Office of General Counsel. Enforcement Division." with one copy to the appropriate Principal Supervisory Agent The request for review must identify the party seeking review and describe with specificity the action taken for which review is sought and the reasons why the Principal Supervisory Agent's denial or notice of disapproval is contended to be erroneous. If an applicant does not file an appeal within the time permitted under this section, any objection to the initial determination by the applicant is waived. A timely appeal filed with the Secretariat in accordance with the provisions of this section shall be mandatory for securing judicial review of an initial determination.

(b) Joint actions by the Director of the Office of Examinations and Supervision

and the General Counsel. The Director of the Office of Examinations and Supervision with the concurrence of the General Counsel or their respective designees are authorized to take the following actions:

(1) Approve any application or issue notice of intent not to disapprove any notice (i) which does not raise a significant issue of law or policy. including approval or issuance of notice of intent not to disapprove applications or notices that are opposed by the insured institution to be acquired or contested by another prospective acquiror, and

(ii) which does not involve net worth maintenance or dividend conditions that fail to conform to paragraph (a)(1)(iv) of this section:

(2) Decide whether a determination of control under § 574.4(b) of this Part or a presumption of acting in concert under § 574.4(d) of this Part has been rebutted: (3) With regard to notices filed under § 574.3(b) of this Part, to acquire control of insured institutions which cannot be approved under paragraph (a) of this

section:

(i) All actions regarding publication required or permitted by § 574.6(d) of

this Part:

(ii) Any other action which would otherwise be delegated to the Principal Supervisory Agent pursuant to paragraphs (a) (1) and (3) of this section: (4) Grant waivers of certified financial statements for an acquiror's proprietary interests in connection with notices filed under § 574.3(b) of this Part which cannot be approved under paragraph (a) of this section

(5) Notify the state supervisory agent pursuant to 574.6(b) of this Part.

(c) Sole authority in the Corporation. The Corporation alone may":

(1) Approve or deny any applications or determine whether to disapprove notices which are not delegated:

(2) In addition to any other remedies available to the Corporation, assess a civil penalty under paragraph (16) of the Control Act for any person who willfully violates any provision of the Control Act, or any regulation or order issued by the Corporation pursuant thereto, of not more than $10.000 per day for each day during which the violation continues:

(i) By giving written notice of the basis for the violation, the amount of the proposed civil penalty, and an opportunity for the person to submit data, views, and arguments within 20 days; and

(ii) By giving due consideration to the appropriateness of the penalty with respect to each of the factors specified in paragraph (16) of the Control Act. 12 U.S.C. 1730(q)(16), and issuing to the

person, within 30 days of the expiration of the period provided to make a submission, a written notice of the Corporation's order of assessment which must be paid within 10 days. unless otherwise agreed to, or the Corporation may bring an action to collect the assessed penalty.

(3) In addition to any other remedies available to the Corporation, assess a civil penalty of up to $1.000 per day for each day during which the violation continues under section 408(j) of the Holding Company Act, 12 U.S.C. 1730a(j). for any company that violates or any person who participates in a violation of the Holding Compeny Act or any regulation or order issued pursuant thereto. As used in this paragraph. the term "violates" includes, without limitation, any action (alone or with another or others) for or toward causing. bringing about, participating in. counseling, or aiding and abetting a violation:

(4) Cause the review period to commence again after a determination of sufficiency has been made under 574.6(c)(2) of this Part, or extend the review period pursuant to

574.6(c)(3)(i) of this Part.

(5) Grant waivers under § 574.6(c)(5). SUBCHAPTER F-SAVINGS AND LOAN HOLDING COMPANIES

PART 584-REGULATED ACTIVITIES

5. The authority citation for Part 584 continues to read as follows:

Authority: Sec. 408. 82 Stat. 5 (12 U.S.C. 1730a) unless otherwise noted.

6. Revise § 584.4 as follows:

§ 584.4 Prohibited acquisitions. No savings and loan holding company, directly or indirectly, or through one or more transactions, shall:

(a) Acquire by purchase or otherwise any of the voting stock or shares of an insured institution not a subsidiary, or of a savings and loan holding company not a subsidiary, and in addition, in the case of a multiple savings and loan holding company, acquire or retain more than five percent of the voting shares of any company becoming a savings and loan holding company for more than one year after that and which is not a subsidiary but is engaged in any business activity other than those specified in of § 584.2(b) or § 564.2-1(b); or

(b) Acquire control of an uninsured institution or retain, for more than one year after other than an insured institution or holding company thereof. the date any insured institution subsidiary becomes uninsured, control of such institution.

SUMMARY: The Federal Home Loan Bank Board Board") is amending its regulations which delineate the authority of its Principal Supervisory Agents ("PSAS") to approve applications involving mergers, consolidations, bulk transfers and other transfers of assets and liabilities, of thrift institutions whose deposits are insured by the Federal Savings and Loan Insurance Corporation Corporation") and federally-chartered savings banks whose deposits are insured by the Federal Deposit Insurance Corporation ("FDRC"). The amendments are designed to facilitate expeditious disposition of such applications by significantly expanding the authority delegated to the Principal Supervisory Agents to approve, as well as to deny.

applications. A new delegation to the Board's Washington staff of the transactions which fall outside of the authority delegated to the PSAs will also improve the timeliness of the Board's application procedures. In addition, the Bound has issued a final rule delegating to the PSAs the authority to charter certain interim institutions which are used solely to facilitate other transactions in order to farther expedite applications processing. Finally, the Board is amending and simplifying its rules regarding the rights of shareholders to an appraisal of their

shares in connection with certain types of mergers and consolidations. EFFECTIVE DATE: December 23, 1985. FOR FURTHER INFORMATION CONTACT:

R. Penfield Starke. Attorney (202-3776453); Laura Patriarca, Deputy Director (202-377-6411): Julie L. Williams. Associate General Counsel, Director (202-377-8459); Corporate and Securities Division. Office of General Counsel, Federal Home Loan Bank Board, 1700 G Street, NW.. Washington, D.C. 20552. SUPPLEMENTARY INFORMATION: By Board Resolution No. 85-289b, dated April 17. 1985, 50 FR (April 25, 1985), the Board proposed to amend its regulations delegating authority to its Principal Supervisory Agents to approve certain mergers, consolidations and bulk purchases or transfers of assets (collectively referred to as “mergers"). as well as other transfers of assets and liabilities, of insured institutions. Mergers involving federally-chartered savings and loan associations and savings banks ("federal associations"} are subject to approval by the Board. 12 CFR 546.2. 552.13 (1985). Transactions that result in an increase in the insurable accounts of an institution whose deposits are insured by the Corporation ("insured institutions") are also subject to approval by the Board, as operating head of the Corporation. 12 CFR 583.22 (1985).

Under the Board's current regulations. certain mergers and increases in insurable accounts are deemed approved if no objection has been raised by the Principal Supervisory Agent (ie, the president of the Federal Home Loan Baak of which both the institutions are members) within 30 days after filing a completed merger application. An application qualifies for automatic approval unless any of the following circumstances is present:

(1) The resulting association requests the granting of supervisory forbearances;

(2) The principal Supervisory Agent recommends the imposition of nonstandard conditions prior to approving the merger.

(3) The application has been substantially protested:

(4) The Principal Supervisory Agent raises objections to the merger,

(5) The resulting association would be one of the 3 largest depository institutions competing in the relevant geographic area, where before the merger there were 5 or fewer depository institutions, the resulting association would have 25 percent or more of the total deposits held by depository institutions in the relevant geographic area, and the share of total deposits

would have increased by 5 percent or

more:

(6) The resulting association would be one of the 2 largest depository institutions competing in the relevant geographic area where before the merger there were 8 to 11 depository institutions, the resulting association would have 30 percent or more of the total deposits held by depository institutions in the relevant geographic area, and the share of total deposits would have increased by 10 percent or

more:

(7) The resulting association would be one of the 2 largest depository institutions competing in the relevant geographic area where before the merger there were 12 or more depository institutions, the resulting association would have 35 percent or more of the total deposits held by depository institutions in the relevant geographic area, and the share of total deposits would have increased by 15 percent or mone:

(8) The Herfindahl-Hirschman Index ("HHI”) in the relevant geographic area is more than 1800 before the merger, and the increase in the HHI caused by the merger would be 50 or more;

(9) In a merger involving potential competition, the Principal Supervisory Agent determines that the acquiring association is one of 3 or fewer potential entrants into the relevant geographic

area;

(10) Both the acquiring and an acquired association have assets of $1 billion or more:

(11) The association that will be the resulting association (other than an association that is neither insured by the Corporation nor chartered by the Board) in the merger has a composite Community Reinvestment Act rating of less than satisfactory, or is otherwise seriously deficient with respect to the Board's nondiscrimination regulations and the deficiencies have not been resolved to the satisfaction of the Principal Supervisory Agent,

(12) The resulting association's (other than an association that is neither insured by the Federal Savings and Loan Insurance Corporation nor chartered by the Board) net worth would not at least equal the Board's regulatory net-worth requirements. Where goodwill has been included in the resulting association's assets, the applicant must submit an opinion of a certified public accountant, satisfactory to the Principal Supervisory Agent, that its use and value are appropriate under, and accounted for. by generally accepted accounting principles. For purposes of this provision. in calculating whether the net

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PO Box 56527, Peachtree Center
Station. Atlanta, Georgia 30343.

By the Federal Home Loan Bank Board Nadine Y. Penn.

Acting Secretar

(FR Doc. 86-3815 Filed 2-20-86. 8:45 am) BILLING CODE 6720-01-M

(No. 86-901

Privacy Act of 1974; New System of Records

Dated: February 3, 1986

AGENCY: Federal Home Loan Bank
Board.

ACTION: Notice of proposed new system of records.

SUMMARY: Pursuant to the requirements of the Privacy Act of 1974 (5 U.S.C. 552a), the Federal Home Loan Bank Board ("Board") is notifying the public of its proposal to establish a new system of records in order to collect information on known or suspected criminal violations and enforcement actions taken against persons in connection with the operation of financial institutions. their holding companies or service corporations, as well as changeof-control applications filed by, and other significant business transactions with. individuals concerning institutions the accounts of which are insured by the Federal Savings and Loan Insurance Corporation ("Corporation" or "FSLIC"). DATE: Comments must be received by March 24. 1986.

ADDRESS: Send comments to Director. Information Services Section. Office of the Secretariat. Federal Home Loan Bank Board, 1700 G Street. NW.. Washington, DC 20552. Comments will be available for public inspection at this address.

FOR FURTHER INFORMATION CONTACT. John Downing. Attorney, (202) 377-6434 or Rosemary Stewart Director. (202) 377-6437. Office of Enforcement, at the above address.

Authority: 5 USC. 552a. FHLB8-29

SYSTEM NAME:

Confidential Individual Information

System

SYSTEM LOCATION:

Federal Home Loan Bank Board, 1700 G Street, NW., Washington, DC 20552.

CATEGORIES OF INDIVIDUALS COVERED BY THE SYSTEM:

These records may contain information concerning individuals who have filed notices of intention to acquire

control of an insured institution. controlling persons of companies that have filed applications to acquire control of an insured institution. organizers of institutions seeking FSLIC insurance of accounts or federal charters, individuals who have been the subject of administrative enforcement actions or other civil actions by any agency with authority to supervise or regulate federally insured financial institutions, those who have been named in criminal referrals by such agencies or by federally insured institutions or have been referred to professional societies, licensing authorities or ethics committees for disciplinary purposes, individuals identified as the subjects of criminal investigations by the Department of Justice or state law enforcement authorities in connection with the operation of federally insured financial institutions, and persons engaging in significant business transactions with FSLIC-insured institutions. This system also contains the identity of the custodian of any documents describing the specific event causing entry into the system.

CATEGORIES OF RECORDS IN THE SYSTEM:

The records identify the individual involved and his relationship to the institution. service corporation or holding company; the event causing entry of information into the system (e.g.. a change-of-control filing, an enforcement action, a criminal referral naming an individual or a referral of information to a professional group for disciplinary action, or receipt of information concerning a criminal or civil violation involving an insured institution); any regulatory or judicial action taken as a result; and the location and nature of any additional records concerning the specific event.

AUTHORITY FOR MAINTENANCE OF THE
SYSTEM:

12 U.S.C. 1464 and 1730.

ROUTINE USES OF RECORDS MAINTAINED IN THE SYSTEM, INCLUDING THE CATEGORIES OF USERS AND THE PURPOSES OF SUCH USES:

(a) To provide the Board's Office of Examinations and Supervision ("OES") and Office of Enforcement ("Enforcement") and the Federal Home Loan Banks with information concerning the current status of suspected criminal violations in connection with

institutions the accounts of which are insured by the FSLIC, their holding companies, and service corporations, which have been referred to the Department of Justice or other law enforcement agencies for possible investigation and prosecution.

Exhibit 27

(b) To provide information to government agencies that supervise or regulate any of the operations of financial institutions concerning whether persons connected with these institutions have been the subject of administrative or civil enforcement actions.

(c) To provide information concerning a violation or potential violation of civil or criminal law, rule, order or regulation to the appropriate agency, whether Federal, State, local or foreign, charged with the responsibility of investigating or prosecuting such violation or implementing the statute, rule regulation, or order.

(d) To provide information to third parties during the course of an investigation to the extent necessary to obtain information pertinent to the investigation.

(e) To respond to requests from the Congress.

(f) To provide information to the Office of General Counsel ("OGC"). OES and the Federal Home Loan Banks concerning groups or individuals applying for permission to organize a Federal association and/or making de novo applications for FSLIC insurance and the officers and directors of those proposed institutions, and concerning officers and directors of existing financial institutions applying for FSLIC insurance for use in considering those applications.

(8) To provide information to OCC. OES. Enforcement, and the Federal Home Loan Banks concerning persons who have filed notices of intention to acquire control of insured institutions and controlling persons of companies filing applications to acquire control of insured institutions to determine if any agency action is required.

(b) To provide information (1) to OES. Enforcement and the Federal Home Loan Banks examining and supervisory staffs with regard to persons transacting business with or for savings institutions in connection with the Board's examination and supervision of insured institutions, service corporations and savings and loan holding companies. and (2) to persons designated by the Board as representatives of the Corporation to conduct investigations of insured institutions, their service corporations, or their holding companies.

(i) To provide information to receivers or conservators of insured institutions or formerly insured institutions for use in determining the background and reliability of persons with whom they are considering entering into transactions or with whom the

institution previously has entered into transactions.

b) To OCC. Enforcement and persons representing the Board in legal matters. and to other persons having access to legal papers connected with such

matters.

POLICIES AND PRACTICES FOR STORING, RETRIEVING, ACCESSING, RETAINING, AND DISPOSING OF RECORDS IN THE SYSTEM STORAGE:

Records are maintained on fixed disks.

RETIEVABILITY:

Records are retrievable by name of individual or by the individual's relationship to the insured institution involved.

SAFEGUARDS:

Access to the system will be available only to Board employees and agents who have been issued the system passwords, which will be revealed only to those persons who have need for information from the system in the performance of their duties.

RETENTION AND DISPOSAL:

Records will be retained for up to 25 years after the date of entry. Records will then be sent to the Federal Records Center.

SYSTEM MANAGER AND ADDRESS:

Database Administrator, Office of Examinations and Supervision. Federal Home Loan Bank Board. 1700 G Street. NW, Washington, DC 20552

NOTIFICATION PROCEDURES:

This system will be exempt from notification and record-access requirements and requirements that an individual be permitted to contest its content under 5 U.S.C. 552a(k)(2) because it contains investigatory material compiled for law enforcement parposes.

RECORD ACCESS PROCEDURES:

See Notification procedures.

CONTESTING RECORD PROCEDURES:

See Notification procedures.

RECORD SOURCE CATEGORIES:

This system will be exempt under 5 U.S.C. 552a(k)(2) from the requirement that the sources of records used in the system be published. because it contains investigatory material compiled for law enforcement purposes.

By the Federal Home Loan Bank Board. Nadine Y. Penn.

Acting Secretary

[FR Doc. 86-3816 Filed 2-20-86: 8:45 am)

BILLING CODE 6720-01-48

FEDERAL MARITIME COMMISSION

Agreement(s) Filed

The Federal Maritime Commission hereby gives notice of the filing of the following agreement(s) pursuant to section 5 of the Shipping Act of 1984.

Interested parties may inspect and obtain a copy of each agreement at the Washington, DC Office of the Federal Maritime Commission, 1100 L Street, NW., Room 10325. Interested parties may submit comments on each agreement to the Secretary, Federal Maritime Commission, Washington, DC 20573, within 10 days after the date of the Federal Register in which this notice appears. The requirements for comments are found in § 572.603 of Title 48 of the Code of Federal Regulations. Interested persons should consult this section before communicating with the Commission regarding a pending agreement.

Agreement No.: 225-010887.

Title: General Agency Agreement between Hanjin Container Lines, Ltd. and Sea-Land Service, Inc.

Parties: Hanjin Container Lines, Ltd. (Hanjin) and Sea-Land Service, Inc. (Sea-Land).

Synopsis: The proposed agreement would permit Sea-Land to act on behalf of Hanjin as its general agent at the Port of Elizabeth. New Jersey for the carriage of cargo between ports and points in the Far East, and the United States. The parties have requested a shortened review period.

Dated: February 18, 1986.

By Order of the Federal Maritime Commission.

John Robert Ewers,

Secretary.

(FR Doc. 88-3845 Filed 2-20-86; 8:45 am) BILLING CODE 4730-01-M

FEDERAL RESERVE SYSTEM

Agency Forms Under OMB Review
February 14, 1986.
Background

On June 15, 1984, the Office of Management and Budget (OMB) delegated to the Board of Governors of the Federal Reserve System (Board) its approval authority under the Paperwork Reduction Act of 1980. as per 5 CFR 1320.8. "to approve of and assign OMB control numbers to collection of information requests and requirements conducted or sponsored by the Board under conditions set forth in 5 CFR 1320.9." Board-approved collections of information will be incorporated into the

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official OMB inventory of currently approved collections of information. A copy of the SF 83 and supporting statement and the approved collection of information instrument(s) will be placed into OMB's public docket files. The following forms, which are being handled under this delegated authority, have received initial Board approval and are hereby published for comment. At the end of the comment period, the proposed information collection, along with an analysis of comments and recommendations received, will be submitted to the Board for final approval under OMB delegated authority.

DATE: Comments must be received within fifteen working days of the date of publication in the Federal Register. ADDRESS: Comments, which should refer to the OMB Docket number (or Agency form number in the case of a new information collection that has not yet been assigned an OMB number), should be addressed to Mr. William W. Wiles. Secretary, Board of Governors of the Federal Reserve System, 20th and C Streets, NW., Washington, DC 20551. or delivered to room B-2223 between 8:45 a.m. and 5:15 p.m. Comments received may be inspected in room B-1122 between 8:45 a.m. and 5:15 p.m., except as provided in § 261.6(a) of the Board's Rules Regarding Availability of Information, 12 CFR 261.6(a).

A copy of the comments may also be submitted to the OMB desk officer for the Board: Robert Neal. Office of Information and Regulatory Affairs. Office of Management and Budget, New Executive Office Building, Room 3208, Washington, DC 20503.

FOR FURTHER INFORMATION CONTACT: A copy of the proposed form. the request for clearance (SF 83), supporting statement, instructions, and other documents that will be placed into OMB's public docket files once approved may be requested from the agency clearance officer, whose name appears below: Federal Reserve Board Clearance Officer, Martha Bethea, Division of Research and Statistics, Board of Governors of the Federal Reserve System. Washington, DC 20551 (202-452-3822).

Proposal to approve under OMB delegated authority the extension with revisions of the following report:

1. Report title: Survey of Terms of Bank Lending (STBL)

Agency form number: FR 2028A. 2028A-
S, 2028B

OMB Docket number: 7100-0061
Frequency: Quarterly

Reporters: Commercial banks