[Federal Register Volume 59, Number 3 (Wednesday, January 5, 1994)]
[Notices]
[Pages 576-577]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-123]
[[Page Unknown]]
[Federal Register: January 5, 1994]
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FEDERAL RESERVE SYSTEM
First Chicago 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 19, 1994.
A. Federal Reserve Bank of Chicago (James A. Bluemle, Vice
President) 230 South LaSalle Street, Chicago, Illinois 60690:
1. First Chicago Corporation, Chicago, Illinois; to engage de novo
through its subsidiary, First Chicago Capital Markets, Inc., Chicago,
Illinois, in underwriting and dealing in, to a limited extent, all
types of debt securities; acting as agent in the private placement of
all types of securities, including providing related advisory services;
buying and selling all types of securities on the order of investors as
a riskless principal; providing financial and transactional advice in
connection with the structuring and arranging of swaps, caps, and
similar transactions; and providing, to institutional customers, full
service securities brokerage services in combination with permissible
investment advisory services, pursuant to Sec. 4 of the Bank Holding
Company Act.
2. Quad City Holdings, Inc., Bettendorf, Iowa; to engage de novo in
making and servicing loans pursuant to Sec. 225.25(b)(1) of the
Board's Regulation Y. These activities will be conducted within a 120
mile radius of the Quad City, Iowa, area.
B. Federal Reserve Bank of Minneapolis (James M. Lyon, Vice
President) 250 Marquette Avenue, Minneapolis, Minnesota 55480:
1. First Manistique Corporation, Manistique, Michigan; to engage de
novo through its subsidiary, First Rural Relending Company, Manistique,
Michigan, in making, acquiring, and servicing loans pursuant to Sec.
225.25(b)(1) of the Board's Regulation Y. These activities will be
conducted in the Upper Peninsula of the State of Michigan.
2. U.S. Bancorp, Portland, Oregon; to engage de novo in data
processing activities pursuant to Sec. 225.25(b)(7) of the Board's
Regulation Y.
Board of Governors of the Federal Reserve System, December 30,
1993.
Jennifer J. Johnson,
Associate Secretary of the Board.
[FR Doc. 94-123 Filed 1-4-94; 8:45 am]
BILLING CODE 6210-01-F
