[Federal Register Volume 59, Number 197 (Thursday, October 13, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-25276]
[[Page Unknown]]
[Federal Register: October 13, 1994]
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FEDERAL RESERVE SYSTEM
Fleet Financial Group, 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 October 31, 1994.
A. Federal Reserve Bank of Boston (Robert M. Brady, Vice President)
600 Atlantic Avenue, Boston, Massachusetts 02106:
1. Fleet Financial Group, Inc., Providence, Rhode Island; to engage
de novo through its subsidiary Fleet Community Development Corporation,
Providence, Rhode Island, in making equity and debt investments in
corporations or projects designed primarily to promote community
welfare, such as the economic rehabilitation and development of low-
income areas by providing housing, services, or jobs for residents,
pursuant to Sec. 225.25(b)(6) of the Board's Regulation Y.
B. Federal Reserve Bank of Kansas City (John E. Yorke, Senior Vice
President) 925 Grand Avenue, Kansas City, Missouri 64198:
1. First State Bancorporation, Inc., Taos, New Mexico; to engage de
novo through its subsidiary Credit Card Services, Ltd., Las Vegas,
Nevada, in providing credit card processing and related services
pursuant to Sec. 225.25(b)(1) of the Board's Regulation Y.
Board of Governors of the Federal Reserve System, October 5,
1994.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 94-25276 Filed 10-12-94; 8:45 am]
BILLING CODE 6210-01-F
