[Federal Register Volume 64, Number 250 (Thursday, December 30, 1999)]
[Notices]
[Page 73560]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-33990]
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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 January 16, 2000.
A. Federal Reserve Bank of Richmond (A. Linwood Gill III, Assistant
Vice President) 701 East Byrd Street, Richmond, Virginia 23261-4528:
1. Bank of America Corporation, Charlotte, North Carolina; BancWest
Corporation, Honolulu, Hawaii; BB&T Corporation, Winston-Salem, North
Carolina; First Union Corporation, Charlotte, North Carolina; SunTrust
Banks, Inc., Atlanta, Georgia; Wachovia Corporation, Winston-Salem,
North Carolina; and Zions Bancorporation, Salt Lake City, Utah; to
acquire through their subsidiary, Star Systems, Inc., Maitland,
Florida, and thereby indirectly acquire up to 38 percent of the voting
securities of Bank Network Securities, Inc., Chicago, Illinois (in
organization), and thereby engage in providing investment and financial
advisory services, pursuant to Sec. 225.28(b)(6) of Regulation Y;
providing brokerage services and investment advisory services, pursuant
to Sec. 225.28(b)(7)(i) of Regulation Y; buying and selling all types
of securities on a ``riskless principal'' basis, pursuant to Sec.
225.28(b)(7)(ii) of Regulation Y; underwriting and dealing in
obligations of the United States, general obligations of states and
their political subdivisions and other obligations, instruments, and
securities that a member bank of the Federal Reserve System may
underwrite or deal in, pursuant to Sec. 225.28(b)(8)(i) of Regulation
Y; engaging as principal in investing and trading activities, pursuant
to Sec. 225.28(b)(8)(ii) of Regulation Y; engaging in lending
activities, pursuant to Sec. 225.28(b)(1) of Regulation Y; engaging in
leasing activities, pursuant to Sec. 225.26(b)(3) of Regulation Y;
engaging in general insurance agency activities, pursuant to Sec.
225.28(b)(11)(vii) of Regulation Y; underwriting and dealing in the
following securities (collectively ``Tier II Securities''): all types
of debt, equity, and other securities (other than ownership interest in
open-end investment companies that a member bank may not underwrite or
deal in) (``bank ineligible securities''), see Board Order, Societe
Generale, 84 Fed. Res. Bull. 680 (1998); and in providing cash
management services, see Board Order, Societe Generale, Fed. Res. Bull.
680 (1998).
B. Federal Reserve Bank of Atlanta (Cynthia Goodwin, Vice
President) 104 Marietta Street, N.W., Atlanta, Georgia 30303-2713:
1. Citizens Community Bancorp, Inc., Marco Island, Florida; to
acquire CCB Mortgage Corporation, Marco Island, Florida, and thereby
engage in extending credit and servicing loans pursuant to Sec.
225.28(b)(1) of Regulation Y.
Board of Governors of the Federal Reserve System, December 27,
1999.
Jennifer J. Johnson,
Secretary of the Board.
[FR Doc. 99-33990 Filed 12-29-99; 8:45 am]
BILLING CODE 6210-01-F
