[Federal Register Volume 61, Number 41 (Thursday, February 29, 1996)]
[Notices]
[Pages 7792-7793]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-4591]
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FEDERAL RESERVE SYSTEM
Wachovia Corporation, et al.; Notice of Applications to Engage de
novo in Permissible Nonbanking Activities
The companies listed in this notice have filed an application 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.
Each application is available for immediate inspection at the
Federal Reserve Bank indicated. Once the 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.
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 March 15, 1996.
A. Federal Reserve Bank of Richmond (Lloyd W. Bostian, Jr., Senior
Vice President) 701 East Byrd Street, Richmond, Virginia 23261:
1. Wachovia Corporation, Winston-Salem, North Carolina, and
Wachovia Capital Markets, Inc., Atlanta, Georgia; to engage de novo
through its subsidiary, Wachovia Capital Partners, Inc., Atlanta,
Georgia, in providing tax planning and preparation services, pursuant
to Sec. 225.25(b)(21) of the Board's Regulation Y.
B. Federal Reserve Bank of Kansas City (John E. Yorke, Senior Vice
[[Page 7793]]
President) 925 Grand Avenue, Kansas City, Missouri 64198:
1. Greater Metro Bank Holding Company, Aurora, Colorado; to engage
de novo through its subsidiary, Greater Metro Insurance and Consulting
Services, Inc., Aurora, Colorado, in the activity of providing
management consulting services to depository institutions, pursuant to
Sec. 225.25(b)(11) of the Board's Regulation Y.
2. Labette County Bankshares, Inc., Altamont, Kansas; to engage de
novo through its subsidiary, Kansas Credit, Inc., Altamont, Kansas, in
establishing a consumer finance company, pursuant to Sec. 225.25(b)(1)
of the Board's Regulation Y.
C. Federal Reserve Bank of Dallas (Genie D. Short, Vice President)
2200 North Pearl Street, Dallas, Texas 75201-2272:
1. South Plains Financial, Inc., Lubbock, Texas, and South Plains
Delaware Financial Corporation, Dover, Delaware; to engage de novo
through their subsidiary, South Plains Financial Services, Inc.,
Lubbock, Texas, in providing to others, data processing and data
transmission services, facilities (including data processing and data
transmission hardware, software, documentation or operating personnel),
data bases, or access to such services, facilities, or data bases by
any technological means pursuant to written agreements describing and
limiting the services to the processing or furnishing of financial,
banking, or economic data within the scope allowed by applicable
statutes and regulations, including, processing and transmitting
banking, financial, and economic related data for others through;
timesharing; electronic funds transfer; home banking; authentication;
provision of packaged financial systems to depository or other
institutions to perform traditional banking functions such as data
capture and sorting, balancing and statement printing; and back office
services such as statement rendering, proof operations, research,
filming, NSF's, data input and return items; selling excess capacity on
data processing and transmission facilities; providing by-products of
permissible data processing and data transmission services for the
internal operations of South Plains Financial, Inc., and its
subsidiaries, pursuant to Sec. 225.25(b)(7) of the Board's Regulation
Y, and in performing appraisals of real estate and tangible and
intangible personal property, including securities, pursuant to Sec.
225.25(b)(13) of the Board's Regulation Y. The activities will be
conducted thoughout the state of Texas.
Board of Governors of the Federal Reserve System, February 23,
1996.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 96-4591 Filed 2-28-96; 8:45 am]
BILLING CODE 6210-01-F
