[Federal Register Volume 61, Number 3 (Thursday, January 4, 1996)]
[Notices]
[Pages 351-352]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-96]
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FEDERAL RESERVE SYSTEM
Mellon Bank 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 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 January 22, 1996.
A. Federal Reserve Bank of Cleveland (John J. Wixted, Jr., Vice
President) 1455 East Sixth Street, Cleveland, Ohio 44101:
1. Mellon Bank Corporation, Pittsburgh, Pennsylvania; to engage de
novo through its subsidiary, Mellon Bank, F.S.B., Paramus, New Jersey,
in trust activities by acquiring certain assets from various banks and
trust company subsidiaries of KeyCorp, Cleveland, Ohio, and thereby
engage in trust activities, pursuant to Sec. 225.25(b)(3) of the
Board's Regulation Y.
B. Federal Reserve Bank of Chicago (James A. Bluemle, Vice
President) 230
[[Page 352]]
South LaSalle Street, Chicago, Illinois 60690:
1. Firstbank of Illinois Co., Springfield, Illinois; to engage de
novo through its subsidiary, MidCountry Financial, Inc., Highland,
Illinois, in consumer finance business, pursuant to Sec.
225.25(b)(1)(i) of the Board's Regulation Y.
Board of Governors of the Federal Reserve System, December 28,
1995.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 96-96 Filed 1-3-96; 8:45 am]
BILLING CODE 6210-01-F
