[Federal Register Volume 60, Number 249 (Thursday, December 28, 1995)]
[Notices]
[Pages 67134-67135]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-31425]
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FEDERAL RESERVE SYSTEM
CoreStates Financial Corp., et al.; Notice of Applications to
Engage de novo in Permissible Nonbanking Activities
The companies listed in this notice have filed an application under
Sec. 225.23(a)(1) of the Board's Regulation Y (12 CFR 225.23(a)(1))
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 commence or to engage de novo, either directly or
through a subsidiary, in a nonbanking activity that is listed in Sec.
225.25 of Regulation Y as closely related to
[[Page 67135]]
banking and permissible for bank holding companies. Unless otherwise
noted, such activities will be conducted throughout the United States.
Each 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.
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 January 11, 1996.
A. Federal Reserve Bank of Philadelphia (Michael E. Collins, Senior
Vice President) 100 North 6th Street, Philadelphia, Pennsylvania 19105,
and Federal Reserve Bank of Cleveland (John J. Wixted, Jr., Vice
President) 1455 East Sixth Street, Cleveland, Ohio 44101:
1. CoreStates Financial Corp., Philadelphia, Pennsylvania, Banc One
Corporation, Columbus, Ohio, KeyCorp, Cleveland, Ohio, National City
Corporation, Cleveland, Ohio, PNC Bank Corp., Pittsburgh, Pennsylvania;
to engage de novo through their joint venture subsidiary, Electronic
Payment Services, Inc., Wilmington, Delaware, in providing data
processing services in connection with an enhanced automated teller
machine function, enabling financial institutions to dispense money
orders, travelers checks, and postage stamps, pursuant to Board Order,
The Bank of New York Company, 80 Fed. Res. Bull. 1107 (1994).
Board of Governors of the Federal Reserve System, December 21,
1995.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 95-31425 Filed 12-27-95; 8:45 am]
BILLING CODE 6210-01-F
