[Federal Register Volume 63, Number 239 (Monday, December 14, 1998)]
[Notices]
[Page 68768]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-33038]
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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 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 December 28, 1998.
A. Federal Reserve Bank of New York (Betsy Buttrill White, Senior
Vice President) 33 Liberty Street, New York, New York 10045-0001:
1. The Bank of New York Company, Inc., New York, New York; to
acquire BNY Capital Markets, Inc., New York, New York, and thereby
engage in activities as a Specialist and Floor Broker on the Chicago
Stock Exchange and the Philadelphia Stock Exchange as a result of the
acquisition of certain business (long and short securities positions)
of EVEREN Securities, Inc., Chicago, Illinois, pursuant to
Sec. 225.28(b)(7) of Regulation Y; see The Bank of New York Company,
Inc., 82 Fed. Res. Bull. 748 (1996) and 83 Fed. Res. Bull. 323 (1997),
respectively. This activity will be conducted worldwide.
B. Federal Reserve Bank of Atlanta (Lois Berthaume, Vice President)
104 Marietta Street, N.W., Atlanta, Georgia 30303-2713:
1. The Banc Corporation, Birmingham, Alabama; to acquire Emerald
Coast Bank, Panama City Beach, Florida, and thereby engage in operating
a savings association, pursuant to Sec. 225.28(b)(4)(ii) of Regulation
Y.
C. Federal Reserve Bank of Richmond (A. Linwood Gill III, Assistant
Vice President) 701 East Byrd Street, Richmond, Virginia 23261-4528:
1. Centura Bank, Inc. Rocky Mount, North Carolina; to acquire First
Coastal Bankshares, Inc., Virginia Beach, Virginia, and thereby
indirectly acquire First Coastal Bank, Virginia Beach, Virginia, and
thereby engage in operating a savings loan association pursuant to
222.28(b)(4) of Regulation Y.
Board of Governors of the Federal Reserve System, December 8, 1998.
Robert deV. Frierson,
Associate Secretary of the Board.
[FR Doc. 98-33038 Filed 12-11-98; 8:45 am]
BILLING CODE 6210-01-P
