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Federal Register / Vol. 70, No.

31 / Wednesday, February 16, 2005 / Notices 7947

proposal also involves the acquisition of with the standards of section 4 of the Telecommunication Device for Deaf
a nonbanking company, the review also BHC Act. Additional information on all (TTD) only, call (202) 263–4869.
includes whether the acquisition of the bank holding companies may be SUPPLEMENTARY INFORMATION: The
nonbanking company complies with the obtained from the National Information Committee is composed of the members
standards in section 4 of the BHC Act Center website at of the Board of Governors of the Federal
(12 U.S.C. 1843). Unless otherwise Unless otherwise noted, comments Reserve System and five representatives
noted, nonbanking activities will be regarding the applications must be of the Federal Reserve Banks. The
conducted throughout the United States. received at the Reserve Bank indicated Reserve Bank representatives on the
Additional information on all bank or the offices of the Board of Governors Committee are elected annually in the
holding companies may be obtained not later than March 2, 2005. manner set forth in section 12A of the
from the National Information Center A. Federal Reserve Bank of Atlanta Federal Reserve Act (12 U.S.C. 263(a)).
website at (Andre Anderson, Vice President) 1000 An alternate also is elected annually for
Unless otherwise noted, comments Peachtree Street, N.E., Atlanta, Georgia each Reserve Bank representative, and
regarding each of these applications 30303: the alternate serves on the Committee in
must be received at the Reserve Bank 1. BankEast Corporation, Knoxville, the absence of the relevant Reserve Bank
indicated or the offices of the Board of Tennessee; to acquire Curtis Mortgage representative.1 The Federal Reserve
Governors not later than March 14, Company, Inc., Knoxville, Tennessee, Act authorizes the Board to prescribe
2005. and thereby engage in brokering regulations governing the details of the
A. Federal Reserve Bank of residential and investor real estate loans elections of Reserve Bank
Richmond (A. Linwood Gill, III, Vice in the secondary market, pursuant to representatives and alternates.2
President) 701 East Byrd Street, section 225.28(b)(1) of Regulation Y. The Committee has amended its Rules
Richmond, Virginia 23261–4528: of Organization to provide that the
Board of Governors of the Federal Reserve
1. Independence Bancshares, Inc., System, February 10, 2005. annual terms of the Committee’s
Greenville, South Carolina; to become a Reserve Bank members (and alternates)
Robert deV. Frierson,
bank holding company by acquiring 100 shall begin on the date of the
percent of the voting shares of Deputy Secretary of the Board.
Committee’s first regularly scheduled
Independence National Bank, [FR Doc.05–2939 Filed 2–15–05; 8:45 am]
meeting of each calendar year (rather
Greenville, South Carolina (in BILLING CODE 6210–01–S
than on January 1st of each year). With
organization). this change, the annual terms of the
Board of Governors of the Federal Reserve FEDERAL RESERVE SYSTEM Committee’s Reserve Bank
System, February 11, 2005. representatives (and alternates) will run
Robert deV. Frierson, Federal Open Market Committee from the Committee’s first regularly
Deputy Secretary of the Board. scheduled meeting of a calendar year to
[Docket No. OP–1223] the Committee’s first regularly
[FR Doc. 05–2993 Filed 2–15–05; 8:45 am]
scheduled meeting of the next calendar
BILLING CODE 6210–01–S Rules of Organization
year. The amendment synchronizes the
AGENCY: Federal Open Market terms of the Reserve Bank
FEDERAL RESERVE SYSTEM Committee. representatives (and alternates) with the
ACTION: Notice; amendment to Rules of terms of the Committee’s officers and
Notice of Proposals to Engage in Organization. staff, who currently are elected annually
Permissible Nonbanking Activities or at the Committee’s first regularly
to Acquire Companies that are SUMMARY: The Federal Open Market scheduled meeting of each year.
Engaged in Permissible Nonbanking Committee (the ‘‘Committee’’) has The Committee also has amended its
Activities amended its Rules of Organization to Rules of Organization to clarify that the
provide that the annual terms of Reserve Committee’s officers and staff are
The companies listed in this notice
Bank representatives on the Committee elected at the Committee’s first regularly
have given notice under section 4 of the
shall begin on the date of the scheduled meeting of each year, and to
Bank Holding Company Act (12 U.S.C.
Committee’s first regularly scheduled reflect the fact that the Committee
1843) (BHC Act) and Regulation Y (12
meeting of each calendar year (rather currently appoints only one Manager for
CFR Part 225) to engage de novo, or to
than January 1 of each year). The the System Open Market Account.
acquire or control voting securities or
Committee also has made other minor These changes conform the rules to the
assets of a company, including the
and technical amendments to its Rules Committee’s current practice. Finally,
companies listed below, that engages
of Organization to conform the rules to the Committee has modified sections
either directly or through a subsidiary or
current practice and to make the rules 2(b), 4(b), and 5 of its Rules of
other company, in a nonbanking activity
gender-neutral. Organization to make the rules gender-
that is listed in § 225.28 of Regulation Y
DATES: The amendments to the Rules of neutral.
(12 CFR 225.28) or that the Board has
Organization became effective on The Committee has incorporated the
determined by Order to be closely
February 2, 2005. amendments into the Committee’s Rules
related to banking and permissible for
of Organization. The Committee’s Rules
bank holding companies. Unless FOR FURTHER INFORMATION CONTACT:
of Organization are uncodified
otherwise noted, these activities will be Kieran J. Fallon, Assistant General
regulations for use by the Committee,
conducted throughout the United States. Counsel (202–452–5270), April Snyder,
issued pursuant to 5 U.S.C. 552.
Each notice is available for inspection Attorney (202–452–3099), Legal
Because the amendments relate solely to
at the Federal Reserve Bank indicated. Division; Board of Governors of the
the internal organization, procedure or
The notice also will be available for Federal Reserve System; or Deborah J.
inspection at the offices of the Board of Danker, Deputy Secretary (202–452– 1 Each Reserve Bank representative and alternate
Governors. Interested persons may 3253), Federal Open Market Committee, must be a president or first vice president of a
express their views in writing on the 20th Street and Constitution Avenue, Reserve Bank.
question whether the proposal complies NW., Washington, DC 20551. Users of 2 See 12 U.S.C. 263(a).

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