98-32463. Notice of Proposals to Engage in Permissible Nonbanking Activities or to Acquire Companies that are Engaged in Permissible Nonbanking Activities  

  • [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
    
    
    

Document Information

Published:
12/08/1998
Department:
Federal Reserve System
Entry Type:
Notice
Document Number:
98-32463
Pages:
67692-67693 (2 pages)
PDF File:
98-32463.pdf