[Federal Register Volume 63, Number 206 (Monday, October 26, 1998)]
[Notices]
[Pages 57126-57127]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-28556]
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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, including the
companies listed below, that engages either directly or through a
subsidiary or other company, in a nonbanking activity that is listed in
Sec. 225.28 of Regulation Y (12 CFR 225.28) or that the Board has
determined by Order to be closely related to banking and permissible
for
[[Page 57127]]
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. The notice also will 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.
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 November 9, 1998.
A. Federal Reserve Bank of Boston (Richard Walker, Community
Affairs Officer) 600 Atlantic Avenue, Boston, Massachusetts 02106-2204:
1. State Street Corporation, Boston, Massachusetts; to engage de
novo through its subsidiary, State Street Financial Markets, LLC,
Boston, Massachusetts, in underwriting and dealing, to a limited
extent, in municipal revenue bonds, commercial paper, 1-4 family
mortgage-related securities and consumer receivables-related
securities. See Citicorp, J.P. Morgan & Co., Inc. and Bankers Trust New
York Corp., 73 Fed. Res. Bull. 473 (1987), aff'd sub nom., Securities
Industry Ass'n v. Board of Governors, 839 F.2d 47 (2d Cir.), cert.
denied, 486 U.S. 1059 (1988); Chemical New York Corp., The Chase
Manhattan Corp., Bankers Trust New York Corp., Citicorp, Manufacturers
Hanover Corp. and Security Pacific Corp., 73 Fed. Res. Bull. 731
(1987), modified by Order Approving Modifications to the Section 20
Orders, 75 Fed. Res. Bull. 751 (1989); in underwriting and dealing in
government obligations and money market instruments, pursuant to Sec.
225.28(b)(8)(i) of Regulation Y; in securities lending activities. ABN
AMRO, 81 Fed. Res. Bull. 182 (1995); Swiss Bank Corp., 81 Fed. Res.
Bull. 185, 188 n.16 (1995); Saban, 80 Fed. Res. Bull. 249 (1994);
Saban, 78 Fed. Res. Bull. 955 (1992); Chase Manhattan Corp., 69 Fed.
Res. Bull. 725 (1983); in securities brokerage activities, pursuant to
Sec. 225.28(b)(7)(i) of Regulation Y; in riskless principal
activities, pursuant to Sec. 225.28(b)(7)(ii) of Regulation Y; in
financial and investment advisory activities, pursuant to Sec.
225.28(b)(6) of Regulation Y; in activities related to extending
credit, pursuant to Sec. 225.28(b)(2) of Regulation Y; in private
placement activities, pursuant to Sec. 225.28(b)(7)(iii) of Regulation
Y.
B. Federal Reserve Bank of Kansas City (D. Michael Manies,
Assistant Vice President) 925 Grand Avenue, Kansas City, Missouri
64198-0001:
1. BOK Financial Corporation, Tulsa, Oklahoma; to engae de novo
through its subsidiary, BOSC, Inc., Tulsa, Oklahoma (formerly known as
Alliance Securities, Inc.), in expanding the types of securities it has
authority to underwrite to include Tier 2 level underwriting and
dealing authority. This authority covers all types of debt and equity
securities, including without limitation, sovereign debt securities,
corporate debt, debt securities convertible into equity securities, and
securities issued by a trust or other vehicle secured by or
representing interests in debt obligations; and underwriting equity
securities, including without limitation, common and preferred stock,
American Depositary Receipts, and other direct and indirect equity
ownership interests in corporations and other entities activities; See
J.P. Morgan & Co., Inc.T1, 75 Fed. Res. Bull. 192 (1989).
Board of Governors of the Federal Reserve System, October 20,
1998.
Robert deV. Frierson,
Associate Secretary of the Board.
[FR Doc. 98-28556 Filed 10-23-98; 8:45 am]
BILLING CODE 6210-01-F
