[Federal Register Volume 61, Number 212 (Thursday, October 31, 1996)]
[Notices]
[Page 56236]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-27935]
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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 November 14, 1996.
A. Federal Reserve Bank of Boston, (Robert M. Brady, Vice
President) 600 Atlantic Avenue, Boston, Massachusetts 02106:
1. Bank of Boston Corporation, Boston, Massachusetts, The Bank of
New York Company, Inc., New York, New York, The Chase Manhattan
Corporation, New York, New York, Citicorp, New York, New York, First
Union Corporation, Charlotte, North Carolina, Fleet Financial Group,
Inc., Providence, Rhode Island, The Governor and Company of the Bank of
Ireland, Dublin, Ireland, The Royal Bank of Scotland Group plc,
Edinburgh, Scotland, The Royal Bank of Scotland, plc, Edinburgh,
Scotland, Citizens Financial Group, Inc., Providence, Rhode Island,
HSBC Holdings plc, London, United Kingdom, HSBC Holdings BV, Amsterdam,
Netherlands, HSBC Americas, Inc., Buffalo, New York, and National
Westminster Bank plc, London, England; to engage de novo through their
subsidiary, NYCE Corporation, Woodcliff Lake, New Jersey, in data
processing and related services (including transaction switching) in
connection with the distribution through electronic banking terminals
of: (1) public transportation tickets; (2) event and attraction
tickets; (3) gift certificates; (4) prepaid telephone cards; (5) other
forms of alternate media that evidence a cardholder's prepayment for
goods or services; and (6) other forms of alternate media, the
dispensing of which is the automated equivalent of a customary banking
activity such as distributing money orders, mutual fund shares and
insurance policies under circumstances permitted by law, Banc One
Corporation, (82 Fed. Res. Bull. 848 (1996).
Board of Governors of the Federal Reserve System, October 25,
1996.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 96-27935 Filed 10-30-96; 8:45 am]
BILLING CODE 6210-01-F
