[Federal Register Volume 59, Number 48 (Friday, March 11, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-5690]
[[Page Unknown]]
[Federal Register: March 11, 1994]
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FEDERAL RESERVE SYSTEM
Creditanstalt-Bankverin, 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 31, 1994.
A. Federal Reserve Bank of New York (William L. Rutledge, Vice
President) 33 Liberty Street, New York, New York 10045:
1. Creditanstalt-Bankverein, Vienna, Austria; to engage de novo
through its subsidiary Creditanstalt Corporate Finance, Inc., Westport,
Connecticut, in acquiring or servicing loans or other extensions of
credit, for the Company's own account or for the account of others,
such as would be made by a commercial finance company, pursuant to
Sec. 225.25(b)(1) of the Board's Regulation Y.
2. The Long-Term Credit Bank of Japan, Limited, Tokyo, Japan; to
engage de novo through its subsidiary Capstar Partners, Inc., in the
activities of leasing tangible personal property, or acting as agent,
broker or adviser in leasing such property, in which the lessor relies
on an estimated residual value of the property in excess of the 25
percent limitation described in Sec. 225.25(b)(5)(i)(D)(3) of the
Board's Regulation Y.
B. Federal Reserve Bank of Cleveland (John J. Wixted, Jr., Vice
President) 1455 East Sixth Street, Cleveland, Ohio 44101:
1. First Western Bancorp, Inc., New Castle, Pennsylvania; to engage
de novo through its subsidiary Residential Mortgage Company, New
Castle, Pennsylvania, in conducting business consisting of making
residential mortgage loans for its affiliates and others, pursuant to
Sec. 225.25(b)(1) of the Board's Regulation Y.
C. Federal Reserve Bank of Atlanta (Robert E. Heck, Vice President)
104 Marietta Street, N.W., Atlanta, Georgia 30303:
1. First Alabama Bancshares, Inc., Birmingham, Alabama, to engage
de novo in leasing tangible personal property, or acting as agent,
broker, or adviser in such property, utilizing residual values up to
100 percent of acquisition cost, pursuant to Sec. 225.25(b)(5)(ii) of
the Board's Regulation Y.
D. Federal Reserve Bank of Chicago (David S. Epstein, Vice
President) 230 South LaSalle Street, Chicago, Illinois 60690:
1. Old Kent Financial Corporation, Grand Rapids, Michigan, to
engage de novo in investing in low income housing projects by making
equity investments as a limited partner, pursuant to Sec. 225.25(b)(6)
of the Board's Regulation Y.
Board of Governors of the Federal Reserve System, March 7, 1994.
Jennifer J. Johnson,
Associate Secretary of the Board.
[FR Doc. 94-5690 Filed 3-10-94; 8:45 am]
BILLING CODE 6210-01-F
