[Federal Register Volume 62, Number 217 (Monday, November 10, 1997)]
[Notices]
[Page 60513]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-29517]
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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 November 24, 1997.
A. Federal Reserve Bank of New York (Betsy Buttrill White, Senior
Vice President) 33 Liberty Street, New York, New York 10045-0001:
1. National Bank of Canada, Montreal, Quebec, Canada; to acquire
NBC Levesque International Ltd., Montreal, Quebec, Canada, and thereby
engage in buying and selling in the secondary market all types of
securities on the order of a customer as a ``riskless principal'' to
the extent of engaging in transactions in which the company, after
receiving an order to buy (or sell) a security from a customer,
purchases (or sells) the security for its own account to offset a
contemporaneous sale to (or purchase from) a customer, subject to the
limitations and conditions, pursuant to Sec. 225.28(b)(7)(ii) of the
Board's Regulation Y, and acting as agent for the private placement of
securities, pursuant to Sec. 225.28(b)(7)(iii) of the Board's
Regulation Y.
2. The Bank of Nova Scotia, Toronto, Ontario, Canada; to acquire
Iron Mountain Depository Corporation, New York, New York, and thereby
engage in buying, selling and storing bars, rounds, bullion, and coins
of gold, silver platinum, palladium, copper, and any other metal
approved by the Board, for company's own account and the account of
others, and providing incidential services such as arranging for
storage, safe custody, assaying, and shipment, pursuant to Sec.
225.28(b)(8)(iii) of the Board's Regulation Y.
Board of Governors of the Federal Reserve System, November 4,
1997.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 97-29517 Filed 11-7-97; 8:45 am]
BILLING CODE 6210-01-F
