[Federal Register Volume 60, Number 25 (Tuesday, February 7, 1995)]
[Notices]
[Pages 7201-7202]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-2941]
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FEDERAL RESERVE SYSTEM
Berkshire Financial Services, Inc., 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 February 21, 1995.
A. Federal Reserve Bank of Boston (Robert M. Brady, Vice President)
600 Atlantic Avenue, Boston, Massachusetts 02106:
1. Berkshire Financial Services, Inc., Lee, Massachusetts; to
engage de novo through its subsidiary Berkshire Financial Centers,
Inc., Lee, Massachusetts, in providing securities brokerage activities,
related securities credit activities, and incidental activities solely
for the account of customers (and not securities underwriting or
dealing), pursuant to Sec. 225.25(b)(15) of the Board's Regulation Y;
and also providing mortgage origination services pursuant to
Sec. 225.25(b)(1) of the Board's Regulation Y. These activities will be
conducted in Massachusetts, Connecticut, New York and Vermont.
B. Federal Reserve Bank of St. Louis (Randall C. Sumner, Vice
President) 411 Locust Street, St. Louis, Missouri 63166:
1. Carlinville National Bank Shares, Inc., Carlinville, Illinois;
to make an equity investment of 41 percent of the common stock of
Macoupin County Community Development Corporation, Carlinville,
Illinois, and thereby engage [[Page 7202]] de novo in providing small
business access to financial capital that otherwise is unavailable in
the private section and assisting housing development for low and
moderate income residents, meeting the requirements for community
development activities, pursuant to Sec. 225.25(b)(6) of the Board's
Regulation Y.
Board of Governors of the Federal Reserve System, February 1,
1995.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 95-2941 Filed 2-6-95; 8:45 am]
BILLING CODE 6210-01-F
