[Federal Register Volume 63, Number 235 (Tuesday, December 8, 1998)]
[Notices]
[Pages 67692-67693]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-32463]
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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 22, 1998.
[[Page 67693]]
A. Federal Reserve Bank of San Francisco (Maria Villanueva, Manager
of Analytical Support, Consumer Regulation Group) 101 Market Street,
San Francisco, California 94105-1579:
1. First Security Corporation, Salt Lake City, Utah; to acquire Van
Kasper & Company, San Francisco, California, and thereby indirectly
acquire Van Kasper Advisers, Inc., San Francisco, California; Van
Kasper Capital, San Francisco, California; Van Kasper Ventures, San
Francisco, California. Van Kasper & Company is the general partner of
the following limited partnerships: Van Kasper Growth Fund, L.P., San
Francisco, California; Van Kasper American Labor Short-term Fixed
Income Fund, L.P., San Francisco, California. Van Kasper & Company also
controls 24.5 percent of Redwood Securities Group, Inc., San Francisco,
California.
Notificant proposes to engage in providing credit and credit
related services, pursuant to Secs. 225.28(b)(1) and (b)(2) of
Regulation Y; providing investment and financial advisory services,
pursuant to Sec. 225.28(b)(6) of Regulation Y; providing brokerage
services and investment advisory services, both separately and on a
combined basis in connection with the purchase and sale of securities
and related credit, custodial and other incidental 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; acting as agent in the private
placement of all types of securities, pursuant to Sec.
225.28(b)(7)(iii) of Regulation Y ; underwriting and dealing in
obligations of the United States, general obligations of the states and
their political subdivisions and other obligations, instruments and
securities that 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; underwriting and dealing in
the following securities (collectively ``Tier II Securities''): all
types of debt, equity, and other securities (other than ownership
interests in open-end investment companies offered and sold to U.S.
persons that a member bank may not underwrite or deal in) (``bank
ineligible securities'') as permissible by Board Orders, See, Fifth
Third Bancorp, 84 Fed. Res. Bull. 677 (1998), and J.P. Morgan & Co., 75
Fed. Res. Bull. 192 (1989); acting as agent in the sale of insurance
and annuities, pursuant to Sec. 225.28(b)(8)(iv) of Regulation Y; and
serving as general partner of private investment limited partnerships
as permissible by Board Order, See, Dresdner Bank AC/Oeschle
International Advisors, L.P., 84 Fed. Res. Bull. 361 (1998).
Board of Governors of the Federal Reserve System, December 2,
1998.
Robert deV. Frierson,
Associate Secretary of the Board.
[FR Doc. 98-32463 Filed 12-7-98; 8:45 am]
BILLING CODE 6210-01-F