97-26735. Notice of Proposals to Engage in Permissible Nonbanking Activities or to Acquire Companies that are Engaged in Permissible Nonbanking Activities

[Federal Register Volume 62, Number 196 (Thursday, October 9, 1997)]
[Notices]
[Pages 52722-52723]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-26735]


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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.  225.28 of Regulation Y (12 CFR 225.28) 
or that the Board has determined by Order to be closely related to 
banking and permissible for 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 October 23, 1997.
    A. Federal Reserve Bank of Minneapolis (Karen L. Grandstrand, Vice 
President) 250 Marquette Avenue, Minneapolis, Minnesota 55480-2171:
    1. Citizens Development Co., Billings, Montana; to engage de novo 
through its subsidiary, Citizens Development Co., Billings, Montana, 
and thereby engage in making and servicing loans, pursuant to Sec.  
225.28(b)(1) of the Board's Regulation Y.


[[Page 52723]]


    Board of Governors of the Federal Reserve System, October 3, 
1997.
William W. Wiles,
Secretary of the Board.
[FR Doc. 97-26735 Filed 10-8-97; 8:45 am]
BILLING CODE 6210-01-F