[Federal Register Volume 60, Number 249 (Thursday, December 28, 1995)]
[Notices]
[Pages 67136-67137]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-31429]
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FEDERAL RESERVE SYSTEM
Keycorp; Notice of Proposal to Engage de novo in Permissible
Nonbanking Activities
The company listed in this notice has given notice 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 banking and permissible for bank
holding companies. Unless otherwise noted, such activities will be
conducted throughout the United States.
The notice is available for immediate inspection at the Federal
Reserve Bank indicated. Once the notice 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 commencement of the activity 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
January 11, 1996.
A. Federal Reserve Bank of Cleveland (John J. Wixted, Jr., Vice
President) 1455 East Sixth Street, Cleveland, Ohio 44101:
1. KeyCorp, Cleveland, Ohio; to engage de novo through its
subsidiary, Key Capital Markets, Inc., Cleveland, Ohio, in providing
certain investment and financial advisory services, pursuant to Sec.
225.25(b)(4) of the Board's Regulation Y; in providing brokerage
services and investment advisory services, both separately and on a
combined basis in connection with the purchase and sale of securities,
pursuant to Sec. 225.25(b)(15) of the Board's Regulation Y; in
underwriting and dealing in bank eligible securities, pursuant to Sec.
225.25(b)(16) of the Board's Regulation Y; in underwriting and dealing
in Tier 1 securities on a limited basis and within the framework
previously imposed by the Board of Governors; in buying and selling all
types of securities on a riskless principal basis; in acting as agent
in the private placement of all types of securities Citicorp 73 Fed.
Res. Bull. 473 (1987); and Bankers Trust New York Corporation, 75 Fed.
Res. Bull. 829 (1989); in providing certain foreign exchange and
transactional advisory services, pursuant to Sec. 225.25(b)(17) of the
Board's Regulation Y; and in trading for its own account, for purposes
other than hedging, in futures, options and options on certificates of
deposit or other money market instruments that are permissible for
national banks, Swiss Bank Corporation, 77 Fed. Res. Bull. 759 (1991).
[[Page 67137]]
Board of Governors of the Federal Reserve System, December 21,
1995.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 95-31429 Filed 12-27-95; 8:45 am]
BILLING CODE 6210-01-F
