[Federal Register Volume 60, Number 31 (Wednesday, February 15, 1995)]
[Notices]
[Pages 8660-8661]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-3747]
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FEDERAL RESERVE SYSTEM
Norwest Corporation, et al.; Acquisitions of Companies Engaged in
Permissible Nonbanking Activities
The organizations listed in this notice have applied under Sec.
225.23(a)(2) or (f) of the Board's Regulation Y (12 CFR 225.23(a)(2) or
(f)) 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 acquire or control voting securities or assets of
a company engaged 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.
Each application is available for immediate inspection at the
Federal Reserve Bank indicated. Once the [[Page 8661]] 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.
Comments regarding each of these applications must be received at
the Reserve Bank indicated or the offices of the Board of Governors not
later than March 1, 1995, unless otherwise indicated.
A. Federal Reserve Bank of Minneapolis (James M. Lyon, Vice
President) 250 Marquette Avenue, Minneapolis, Minnesota 55480:
1. Norwest Corporation, Minneapolis, Minnesota; to engage de novo
in consumer and real estate lending activities pursuant to Sec.
225.25(b)(1) of the Board's Regulation Y and credit insurance
activities pursuant to Sec. 225.25(b)(8)(vii) of the Board's
Regulation Y by acquiring through two newly incorporated subsidiaries,
54 subsidiaries of ITT Financial Corporation, doing business in Puerto
Rico under the name Island Finance Corporation and by acquiring the
assets of five branch offices of ITT FInancial Corporation doing
business in the U.S. Virgin Islands.
B. Federal Reserve Bank of Kansas City (John E. Yorke, Senior Vice
President) 925 Grand Avenue, Kansas City, Missouri 64198:
1. Bolder Bancorporation, Boulder, Colorado; to engage in the
activity of making, acquiring or servicing loans or other extensions of
credit pursuant to Sec. 225.25(b)(1) of the Board's Regulation Y.
Comments regarding this application must be received not later than
February 27, 1995.
Board of Governors of the Federal Reserve System, February 9,
1995
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 95-3747 Filed 2-14-95; 8:45 am]
BILLING CODE 6210-01-F
