[Federal Register Volume 61, Number 6 (Tuesday, January 9, 1996)]
[Notices]
[Page 658]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-295]
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FEDERAL RESERVE SYSTEM
Downs Bancshares, Inc., 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 23, 1996.
A. Federal Reserve Bank of Kansas City (John E. Yorke, Senior Vice
President) 925 Grand Avenue, Kansas City, Missouri 64198:
1. Downs Bancshares, Inc., Downs, Kansas; to engage de novo through
its subsidiary, Cushing Insurance, Inc., Downs, Kansas, in the sale of
general insurance in a town of less than 5,000 in population, pursuant
to Sec. 225.25(b)(8)(iii)(A) of the Board's Regulation Y. This
activity will be conducted in Downs, Kansas.
2. Geneva State Co., Geneva, Nebraska; to engage de novo through
its subsidiary, Bicentennial Apartments, Inc., Geneva, Nebraska, in
construction of low- and moderate-income housing, pursuant to Sec.
225.25(b)(6) of the Board's Regulation Y.
Board of Governors of the Federal Reserve System, December 29,
1995.
Barbara R. Lowrey,
Associate Secretary of the Board.
[FR Doc. 96-295 Filed 1-8-96; 8:45 am]
BILLING CODE 6210-01-F
