[Federal Register Volume 60, Number 54 (Tuesday, March 21, 1995)]
[Notices]
[Pages 14941-14942]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-6868]
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FEDERAL RESERVE SYSTEM
Allied Irish Banks, plc, 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 [[Page 14942]] 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 April 4, 1995.
A. Federal Reserve Bank of Richmond (Lloyd W. Bostian, Jr., Senior
Vice President) 701 East Byrd Street, Richmond, Virginia 23261:
1. Allied Irish Banks, plc, Dublin, Ireland, to engage de novo
through its subsidiary AIB Investment Managers Limited, Dublin,
Ireland, in providing portfolio investment advice to any other person,
serving as investment adviser to an investment company, including
sponsoring, organizing, and managing a closed-end investment company,
and furnishing general economic information and advice, general
economic statistical forecasting services and industry studies,
pursuant to Secs. 225.25(b)(4)(ii), (iii), and (iv) of the Board's
Regulation Y; providing foreign exchange advisory and transactional
services, pursuant to Sec. 225.25(b)(17) of the Board's Regulation Y;
and providing investment advice as a commodity trading advisor for
institutional and other financially sophisticated customers with
respect to the purchase and sale of futures contracts and options on
futures contracts for (1) bullion, foreign exchange, government
securities, certificates of deposit, and other money market instruments
that a bank may buy or sell in the cash market for its own account, (2)
other financial instruments listed on the Board's list entitled
``Approved Exchanges and Contracts'' (as from time to time revised),
and (3) other financial instruments which the Federal Reserve Board (or
a Federal Reserve Bank under delegated authority) may from time to time
approve for Applicant or for any other bank holding company, pursuant
to Sec. 225.25(b)(19) of the Board's Regulation Y.
B. Federal Reserve Bank of Kansas City (John E. Yorke, Senior Vice
President) 925 Grand Avenue, Kansas City, Missouri 64198:
1. McCook National Company, McCook, Nebraska; to engage de novo in
credit related life insurance activities, pursuant to Sec.
225.25(b)(8)(i) of the Board's Regulation Y.
Board of Governors of the Federal Reserve System, March 15,
1995.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 95-6868 Filed 3-20-95; 8:45 am]
BILLING CODE 6210-01-F
