[Federal Register Volume 61, Number 26 (Wednesday, February 7, 1996)]
[Notices]
[Pages 4667-4668]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-2562]
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FEDERAL RESERVE SYSTEM
CoreStates Financial Corp; Notice of Proposal to Engage de novo
in Permissible Nonbanking Activities
The company listed in this notice has given notice 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.
The notice is available for immediate inspection at the Federal
Reserve Bank indicated. Once the notice 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 commencement of the activity 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 the application must be received at the Reserve
Bank indicated or the offices of the Board of Governors not later than
February 21, 1996.
A. Federal Reserve Bank of Philadelphia (Michael E. Collins, Senior
Vice President) 100 North 6th Street, Philadelphia, Pennsylvania 19105:
1. CoreStates Financial Corp, Philadelphia, Pennsylvania; to engage
de novo through its subsidiary, CoreStates Securities Corp,
Philadelphia, Pennsylvania, in full-service brokerage activities,
pursuant to Sec. 225.25(b)(15)(ii) of the Board's Regulation Y.
[[Page 4668]]
Board of Governors of the Federal Reserve System, February 1,
1996.
William W. Wiles,
Secretary of the Board.
[FR Doc. 96-2562 Filed 2-6-96; 8:45 am]
BILLING CODE 6210-01-F