[Federal Register Volume 61, Number 199 (Friday, October 11, 1996)]
[Notices]
[Page 53377]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-26140]
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FEDERAL RESERVE SYSTEM
Notice of Proposals to Engage in Permissible Nonbanking
Activities or to Acquire Companies that are Engaged in Permissible
Nonbanking Activities
The companies listed in this notice have given notice under section
4 of the Bank Holding Company Act (12 U.S.C. 1843) (BHC Act) and
Regulation Y, (12 CFR Part 225) to engage de novo, or to acquire
or control voting securities or assets of a company that engages either
directly or through a subsidiary or other company, in a nonbanking
activity that is listed in Sec. 225.25 of Regulation Y (12 CFR 225.25)
or that the Board has determined by Order to be closely related to
banking and permissible for bank holding companies. Unless otherwise
noted, these activities will be conducted throughout the United States.
Each notice is available for inspection at the Federal Reserve Bank
indicated. Once the notice 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 the proposal complies with the standards of section 4
of the BHC Act, including 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'' (12 U.S.C. 1843). 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 October 25, 1996.
A. Federal Reserve Bank of New York (Christopher J. McCurdy, Senior
Vice President) 33 Liberty Street, New York, New York 10045:
1. Bank Austria AG, Vienna, Austria; to engage de novo, through its
subsidiary, Bank Austria Mortgage Corp., New York, New York, in
mortgage banking activities, pursuant to Sec. 225.25(b)(1) of the
Board's Regulation Y.
B. Federal Reserve Bank of Richmond (Lloyd W. Bostian, Jr., Senior
Vice President) 701 East Byrd Street, Richmond, Virginia 23261:
1. CCB Financial Corporation, Durham, North Carolina; to engage de
novo through its subsidiary, CCB Services, Inc., Durham, North
Carolina, in data processing, pursuant to Sec. 225.25(b)(7) of the
Board's Regulation Y; and in management consulting to depository
institutions, pursuant to Sec. 225.25(b)(11) of the Board's Regulation
Y.
C. Federal Reserve Bank of San Francisco (Kenneth R. Binning,
Director, Bank Holding Company) 101 Market Street, San Francisco,
California 94105:
1. BankAmerica Corporation, San Francisco, California; to acquire
through its wholly-owned subsidiary, BankAmerica Investment
Corporation, Chicago, Illinois, and thereby indirectly acquire
Arrowhead LLC, San Jose, California; First Franklin Financial Group,
Inc., San Jose, California; Coastal Capital Funding Corporation, San
Jose, California; First Financial Corporation, San Jose, California;
and Franklin Mortgage Capital Corporation, San Jose, California, and
thereby engage in mortgage banking activities, pursuant to Sec.
225.25(b)(1) of the Board's Regulation Y.
In connection with this application, CIVC Partners II, San
Francisco, California, which is a BankAmerica Corporation coinvestment
vehicle, will acquire 8.71 percent of Arrowhead LLC; and William
Dallas, the CEO of Coastal Capital Funding Corporation, will acquire
12.86 percent of Arrowhead LLC.
Board of Governors of the Federal Reserve System, October 7,
1996.
Jennifer J. Johnson
Deputy Secretary of the Board
[FR Doc. 96-26140 Filed 10-10-96; 8:45 am]
BILLING CODE 6210-01-F
