97-6165. Notice of Proposals to Engage in Permissible Nonbanking Activities or to Acquire Companies that are Engaged in Permissible Nonbanking Activities  

  • [Federal Register Volume 62, Number 48 (Wednesday, March 12, 1997)]
    [Notices]
    [Page 11455]
    From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
    [FR Doc No: 97-6165]
    
    
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    FEDERAL RESERVE SYSTEM
    
    Notice of Proposals to Engage in Permissible Nonbanking 
    Activities or to Acquire Companies that are Engaged in Permissible 
    Nonbanking Activities
    
        The companies listed in this notice have given notice under section 
    4 of the Bank Holding Company Act (12 U.S.C. 1843) (BHC Act) and 
    Regulation      Y, (12 CFR Part 225) to engage de novo, or to acquire 
    or control voting securities or assets of a company that engages either 
    directly or through a subsidiary or other company, in a nonbanking 
    activity that is listed in Sec.  225.25 of Regulation Y (12 CFR 225.25) 
    or that the Board has determined by Order to be closely related to 
    banking and permissible for bank holding companies. Unless otherwise 
    noted, these activities will be conducted throughout the United States.
        Each notice is available for 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 the proposal complies with the standards of section 4 
    of the BHC Act.
        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 26, 1997.
        A. Federal Reserve Bank of New York (Christopher J. McCurdy, Senior 
    Vice President) 33 Liberty Street, New York, New York 10045-0001:
        1. Lloyds TSB Group PLC and Lloyds Bank PLC, both of London, 
    England; to retain indirectly all the voting shares of IAI Holdings 
    Inc., and its subsidiaries, including Investment Advisers, Inc., IAI 
    Securities, Inc., IAI Trust Company, IAI Ventures, Inc., and Itasca 
    Ventures, LLC, all of Minneapolis, Minnesota, and thereby engage in the 
    following nonbanking activities: (i) performing functions or activities 
    that may be conducted by a trust company, pursuant to 12 CFR 
    225.25(b)(3) of the Board's Regulation Y; (ii) providing investment 
    advisory services, pursuant to 12 CFR 225.25(b)(4) of the Board's 
    Regulation Y; (iii) providing full-service brokerage services, pursuant 
    to 12 CFR 225.25(b)(15) of the Board's Regulation Y; (iv) providing 
    foreign exchange execution and advisory services Banco Commerciale 
    Italiano S.p.A., 76 Fed. Res. Bull. 649 (1990); (v) providing advice on 
    futures contracts and options on futures contracts based on certain 
    financial commodities, pursuant to 12 CFR 225.25(b)(19) of the Board's 
    Regulation Y; Caisse Nationale de Credit Agricole, S.A., 82 Fed. Res. 
    Bull. 754 (1996); Security Pacific Corporation, 74 Fed. Res. Bull. 820 
    (1988); and providing investment advisory and administrative services 
    to open-end investment companies (``mutual funds'') Mellon Bank 
    Corporation, 79 Fed. Res. Bull. 626 (1993); Bank of Ireland, 82 Fed. 
    Res. Bull. 1129 (1996). Notificants would engage in these activities in 
    accordance with the limitations and conditions previously established 
    by the Board by regulation or order, with certain exceptions relating 
    to the proposed provision of advisory and administrative services to 
    mutual funds that are discussed in the notice.
    
        Board of Governors of the Federal Reserve System, March 6, 1997.
    William W. Wiles,
    Secretary of the Board.
    [FR Doc. 97-6165 Filed 3-11-97; 8:45 am]
    BILLING CODE 6210-01-F
    
    
    

Document Information

Published:
03/12/1997
Department:
Federal Reserve System
Entry Type:
Notice
Document Number:
97-6165
Pages:
11455-11455 (1 pages)
PDF File:
97-6165.pdf