[Federal Register Volume 59, Number 231 (Friday, December 2, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-29652]
[[Page Unknown]]
[Federal Register: December 2, 1994]
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FEDERAL RESERVE SYSTEM
BNCCORP, Inc.; Acquisition of Company Engaged in Nonbanking
Activities
The organization listed in this notice has applied under Sec.
225.23(a) or (f) of the Board's Regulation Y (12 CFR 225.23(a) or (f))
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. Unless otherwise noted,
such 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
December 16, 1994.
A. Federal Reserve Bank of Minneapolis (James M. Lyon, Vice
President), 250 Marquette Avenue, Minneapolis, Minnesota 55480:
1. BNCCORP, Inc., Bismarck, North Dakota (Applicant), to acquire
100 percent of the voting shares of JMS Systems, Inc., Bismarck, North
Dakota (Company), and thereby engage in providing data processing and
transmission services, and management consulting services for
depository institutions, pursuant to Secs. 225.25(b)(7) and
225.25(b)(11) of the Board's Regulation Y. The services to be provided
by Company would consist of: (1) on-line data processing and
transmission services for financial institutions and other customers;
(2) home banking and bill payment services; (3) data processing
services with computer output to optical digital disks, and related
storage, retrieval, processing, and transmission capabilities; (4) on-
site data processing and transmission facilities for depository and
similar institutions; (5) purchasing, selling, renting, and maintaining
electronic equipment used to perform permissible data processing and
transmission services; and (6) management consulting advice to
unaffiliated bank and nonbank depository institutions. Applicant has
committed that Company would conduct these activities in conformity
with the limitations set forth in Regulation Y.
Board of Governors of the Federal Reserve System, November 26,
1994.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 94-29652 Filed 12-1-94; 8:45 am]
BILLING CODE 6210-01-F
