94-26734. FFB Participacoes e Servicos, S.A.; Formation of, Acquisition by, or Merger of Bank Holding Companies; and Acquisition of Nonbanking Company  

  • [Federal Register Volume 59, Number 208 (Friday, October 28, 1994)]
    [Unknown Section]
    [Page ]
    From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
    [FR Doc No: 94-26734]
    
    
    [Federal Register: October 28, 1994]
    
    
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    FEDERAL RESERVE SYSTEM
    
    
    FFB Participacoes e Servicos, S.A.; Formation of, Acquisition by, 
    or Merger of Bank Holding Companies; and Acquisition of Nonbanking 
    Company
    
        The company listed in this notice has applied under Sec.  225.14 of 
    the Board's Regulation Y (12 CFR 225.14) for the Board's approval under 
    section 3 of the Bank Holding Company Act (12 U.S.C. 1842) to become a 
    bank holding company or to acquire voting securities of a bank or bank 
    holding company. The listed company has also applied under Sec.  
    225.23(a)(2) of Regulation Y (12 CFR 225.23(a)(2)) 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 acquire or control voting securities or assets of a 
    company engaged 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, or to engage in such an activity. Unless otherwise 
    noted, these activities will be conducted throughout the United States.
        The 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.
        Comments regarding the application must be received at the Reserve 
    Bank indicated or the offices of the Board of Governors not later than 
    November 22, 1994.
        A. Federal Reserve Bank of New York (William L. Rutledge, Senior 
    Vice President) 33 Liberty Street, New York, New York 10045:
        1. FFB Participacoes e Services, S.A., Funchal, Madeira, Portugal, 
    to become a bank holding company by acquiring 30 percent of the voting 
    shares of First Fidelity Bancorporation, Lawrenceville, New Jersey, and 
    thereby indirectly acquire First Fidelity Bank, N.A., Salem, New 
    Jersey; First Fidelity Bank, N.A., New York, Riverdale, New York; Union 
    Trust Company, Stanford, Connecticut, The Bank of Baltimore, Baltimore, 
    Maryland. Applicant will be a subsidiary of Banco Santander, S.A., 
    Madrid, Spain, which has applied to acquire Applicant.
        In connection with this application, Applicant has also applied to 
    acquire Broad and Lombardy Associates, Inc., Newark, New Jersey; to 
    engage in brokering or acting as an agent for certain types of credit-
    related insurance, pursuant to Sec. 225.25(b)(8)(i) of the Board's 
    Regulation Y; Fidelcor Business Credit Corporation, New York, New York, 
    to engage in originating and servicing commercial loans, pursuant to 
    Sec.  225.25(b)(1) of the Board's Regulation Y; Fidelcor Life Insurance 
    Company, Phoenix, Arizona, to engage in reinsuring credit life, 
    disability and health insurance, in connection with loans extended by 
    First Fidelity's Bank subsidiaries and their affiliates, pursuant to 
    Sec.  225.25(b)(8) of the Board's Regulation Y; First Fidelity 
    Community Development Corporation, Newark, New Jersey, to engage in 
    community development activities, pursuant to section 225.25(b)(6) of 
    the Board's Regulation Y; Waller House Corporation, Philadelphia, 
    Pennsylvania, to engage in community development activities, pursuant 
    to Sec. 225.25(b)(6) of the Board's Regulation Y.
    
        Board of Governors of the Federal Reserve System, October 24, 
    1994.
    Jennifer J. Johnson,
    Deputy Secretary of the Board.
    [FR Doc. 94-26734 Filed 10-27-94; 8:45 am]
    BILLING CODE 6210-01-F
    
    
    

Document Information

Published:
10/28/1994
Department:
Federal Reserve System
Entry Type:
Uncategorized Document
Document Number:
94-26734
Pages:
0-0 (None pages)
Docket Numbers:
Federal Register: October 28, 1994