[Federal Register Volume 60, Number 17 (Thursday, January 26, 1995)]
[Notices]
[Pages 5179-5180]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-1905]
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FEDERAL RESERVE SYSTEM
First Union Corporation, et al.; Notice of Applications to Engage
de novo in Permissible Nonbanking Activities
The companies listed in this notice have filed an application under
Sec. 225.23(a)(1) of the Board's Regulation Y (12 CFR 225.23(a)(1)) for
the Board's approval under section 4(c)(8) of the Bank Holding Company
Act (12 U.S.C. 1843(c)(8)) and Sec. 225.21(a) of Regulation Y (12 CFR
225.21(a)) to commence or to engage de novo, either directly or through
a subsidiary, in a nonbanking activity that is listed in Sec. 225.25
of Regulation Y as closely related to banking and permissible for bank
holding companies. Unless otherwise noted, such activities will be
conducted throughout the United States.
Each application is available for immediate inspection at the
Federal Reserve Bank indicated. Once the [[Page 5180]] 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 question whether consummation of
the proposal 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.'' Any request for a hearing
on this question 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, comments regarding the applications must be
received at the Reserve Bank indicated or the offices of the Board of
Governors not later than February 8, 1995.
A. Federal Reserve Bank of Richmond (Lloyd W. Bostian, Jr., Senior
Vice President) 701 East Byrd Street, Richmond, Virginia 23261:
1. First Union Corporation, Charlotte, North Carolina; to engage de
novo through its subsidiary Ameribanc Investors Group, Annandale,
Virginia, in the operation of a federal savings bank, Ameribanc Savings
Bank FSB, Annandale, Virginia, pursuant to Sec. 225.25(b)(9) of the
Board's Regulation Y.
B. Federal Reserve Bank of Chicago (James A. Bluemle, Vice
President) 230 South LaSalle Street, Chicago, Illinois 60690:
1. First of America Bank Corporation, Kalamazoo, Michigan; to
engage de novo in the nonbanking activity of leasing tangible personal
property or acting as agent, broker, or advisor in leasing such
property, in which the lessor relies on an estimated residual value of
the property in excess of 25 percent, pursuant to Sec. 225.25(b)(5)(ii)
of the Board's Regulation Y.
Board of Governors of the Federal Reserve System, January 19,
1995.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 95-1905 Filed 1-25-95; 8:45 am]
BILLING CODE 6210-01-F
