[Federal Register Volume 60, Number 60 (Wednesday, March 29, 1995)]
[Notices]
[Page 16139]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-7692]
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FEDERAL RESERVE SYSTEM
U.S. Trust Corporation; Formation of, Acquisition by, or Merger
of Bank Holding Companies; and Acquisition of Nonbanking Company
The company listed in this notice has applied under Sec. 225.14 of
the Board's Regulation Y (12 CFR 225.14) for the Board's approval under
section 3 of the Bank Holding Company Act (12 U.S.C. 1842) to become a
bank holding company or to acquire voting securities of a bank or bank
holding company. The listed company has also applied under Sec.
225.23(a)(2) of Regulation Y (12 CFR 225.23(a)(2)) 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 acquire or control voting securities or assets of a
company engaged 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, or to engage in such an activity. Unless otherwise
noted, these activities will be conducted throughout the United States.
The 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.
Comments regarding the application must be received at the Reserve
Bank indicated or the offices of the Board of Governors not later than
April 12, 1995.
A. Federal Reserve Bank of New York (William L. Rutledge, Senior
Vice President) 33 Liberty Street, New York, New York 10045:
1. U.S. Trust Corporation, New York, New York; to acquire all of
the voting shares of New USTC Holding Company, New York, New York, and
New U.S. Trust Company, New York, New York. United States Trust Company
of New York, New York, New York, also has applied to become a bank
holding company by acquiring New U.S. Trust Company of New York (in
organization). New USTC Holding Company has applied to become a bank
holding company by acquiring New U.S. Trust Company of New York, New
York, New York; U.S.T.L.P.O. Corp., Dallas, Texas, and thereby
indirectly acquire U.S. Trust Company of Texas, N.A., Dallas, Texas;
and U.S. Trust Company of California, Los Angeles, California.
In connection with these applications, New USTC Holdings
Corporation has applied to acquire certain of U.S. Trust Corporation's
nonbanking subsidiaries and thereby engage in through the U.S. Trust
Company of Florida Savings Bank, Palm Beach, Florida, in the following
activities: (1) trust company, investment and financial advisory,
community development, and savings association operations activities,
pursuant to Secs. 225.25(b)(3), (4), (6), and (9), of the Board's
Regulation Y; (2) through CTMC Holding Company and its wholly-owned
subsidiaries, U.S. Trust Company of the Pacific Northwest, and CTC
Consulting, all of Portland, Oregon, in trust company, and investment
and financial advisory activities, pursuant to Secs. 225.25(b)(3) and
(4) of the Board's Regulation Y; (3) through Campbell, Cowperthwait &
Co., Inc., New York, New York, in investment or financial advice,
pursuant to Sec. 225.25(b)(4) of the Board's Regulation Y; (4) through
U.S. Trust Company of New Jersey and its wholly-owned subsidiary,
U.S.T. Securities Corp., both of Princeton, New Jersey, in trust
company, investment and financial advisory, securities brokerage, and
riskless principal activities, pursuant to Secs. 225.25(b)(3), (4),
and (15) of the Board's Regulation Y and by Board order (U.S. Trust
Corporation 78 Federal Reserve Bulletin 336 (1992)); and (5) through
U.S. Trust Company of Connecticut, Stamford, Connecticut, in trust
company and investment and financial advisory activities, pursuant to Secs.
225.25(b)(3) and (4) of the Board's Regulation Y.
Board of Governors of the Federal Reserve System, March 23,
1995.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 95-7692 Filed 3-28-95; 8:45 am]
BILLING CODE 6210-01-F
