[Federal Register Volume 60, Number 62 (Friday, March 31, 1995)]
[Notices]
[Page 16653]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-7917]
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FEDERAL RESERVE SYSTEM
The Chase Manhattan 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 14, 1995
A. Federal Reserve Bank of New York (William L. Rutledge, Senior
Vice President) 33 Liberty Street, New York, New York 10045:
1. The Chase Manhattan Corporation, New York, New York; to merge
with U.S. Trust Corporation, New York, New York, and thereby indirectly
acquire United States Trust Company of New York, New York, New York.
In connection with this application, Applicant also has applied to
acquire U.S. Trust Corporation's wholly-owned direct subsidiaries,
Mutual Funds Services Company, Boston, Massachusetts, and U.S. Trust
Company of Wyoming, Cody, Wyoming, and certain assets and liabilities
associated with certain custodial relationships from the U.S. Trust
Company of California, N.A., Los Angeles, California, and thereby
engage in data processing and trust company activities, pursuant to Secs.
225.25(b)(7) and (3) of the Board's Regulation Y.
Board of Governors of the Federal Reserve System, March 27,
1995.
William W. Wiles,
Secretary of the Board.
[FR Doc. 95-7917 Filed 3-30-95; 8:45 am]
BILLING CODE 6210-01-F
