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Thursday, March 7, 2013
Federal Reserve to Hold Public Meeting on Samoa
By News Release @ 3:00 AM :: 6664 Views :: National News, Economy

Public Meeting for Bank of Hawaii Branch Closures in American Samoa

March 12, 2013 10:00am (HST) Hilton Hawaiian Village Hotel, Honolulu, Hawaii

March 12, 2013 9:00am (SST) Sadies by the Sea, Pago Pago, Tutuila, American Samoa

News Release from Federal Reserve Bank of San Francisco

Event Details

The Federal Reserve Bank of San Francisco announced today that it will host a public meeting next week. The meeting will be held simultaneously in Hawaii and American Samoa.

The meeting is being held in response to public comments we have received regarding Bank of Hawaii's planned closure of its branch offices in American Samoa. In accordance with the Interagency Joint Policy Statement on Branch Closings, if the Federal Reserve receives certain comments regarding a branch closure, we are required to convene a meeting of interested parties to explore the feasibility of other options for providing banking service to the affected community. Please note that the decision to close the branches is not one that requires regulatory approval and neither the FDI Act nor the Joint Policy Statement gives the regulatory agencies any authority to prevent or delay these closures. As such the meeting will focus on our sole role of facilitating a discussion exploring options for banking services in American Samoa.

The meeting is scheduled to begin at 10:00am Hawaii-Aleutian Standard Time (HST) on Tuesday, March 12, 2013. The meeting will be hosted from the Hilton Hawaiian Village Hotel, 2005 Kalia Road, Honolulu, Hawaii 96815 in the Tapa III Room, Tapa Tower. We will also have space available at Sadies by the Sea, Main Road, Pago Pago, Tutuila, American Samoa, and will connect with this location via teleconference. In addition, teleconference facilities will be available for those wishing to comment but unable to attend in person at either location.

Persons wishing to comment at the meeting must submit a written request no later than 12:00pm HST, Friday, March 8, 2013. The request should include the following information (1) the location the commenter will attend or if they prefer to provide comment via teleconference; (2) a brief statement of the nature of the expected comment; (3) the estimated time required for the presentation; (4) address and telephone number (and facsimile number, and e-mail address if available); and (5) identification of any special needs, such as from persons desiring translation services or persons with a physical disability who may need assistance. To the extent feasible, translators will be provided to persons wishing to present their views in a language other than English if this information is included in the request to testify. Persons interested only in attending the meeting need not submit a written request to attend.

Requests should be sent to Tracy A. Basinger, Group Vice President, preferably via email at tracy.basinger@sf.frb.org and if email is not available then via fax at 415-393-1962.

An agenda for the meeting, which will include a scheduled time for each person's comments, will be provided to participants on Monday, March 11, 2013. On the basis of the requests received, we will prepare a schedule for persons wishing to testify and establish the order of presentation. To ensure an opportunity for all interested commenters to present their views, we will likely limit the time for presentations. At our discretion, persons not listed on the schedule but attending the meetings in person may be permitted to speak at the public meeting if time permits at the conclusion of the schedule of comments. Comments at the public meeting will be presented to a panel consisting of Federal Reserve officials. In conducting the public meeting, the presiding panel will have the authority and discretion to ensure that the meeting proceeds in a fair and orderly manner.

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Related: Bank of Hawaii delays American Samoa exit for 90 days

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