[Federal Register Volume 60, Number 72 (Friday, April 14, 1995)]
[Notices]
[Page 19064]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-9210]
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FEDERAL RESERVE SYSTEM
Commerzbank AG, 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 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 April 28, 1995.
A. Federal Reserve Bank of New York (William L. Rutledge, Senior
Vice President) 33 Liberty Street, New York, New York 10045:
1. Commerzbank AG, Frankfurt, Germany; to engage de novo through
its subsidiary Commerz Immobilien GMBH, Frankfurt, Germany, in leasing
real and personal property or acting as agent, broker or adviser in
leasing such property, pursuant to Sec. 225.25(b)(5) of the Board's
Regulation Y, and making, acquiring or servicing loans or other
extension of credit (including issuing letters of credit and accepting
drafts) for the company's account or the account of others, pursuant to
Sec. 225.25(b)(1) of the Board's Regulation Y.
2. National Westminster Bank PLC., London, England; to engage de
novo through its subsidiary Natwest Futures, Inc., Chicago, Illinois,
in the provision of execution, clearance and advisory services with
respect to futures and options on futures on nonfinancial commodities
both for affiliated and nonaffiliated persons. Bank of Montreal, 79
Federal Reserve Bulletin 1049 (1993); J.P. Morgan & Co. Incorporated,
80 Federal Reserve Bulletin 151 (1994), Credit Agricole, 80 Federal
Reserve Bulletin 552 (1994); Societe Generale, 80 Federal Reserve
Bulletin 649 (1994); Citicorp, Federal Reserve Board Press Release,
December 13, 1994.
Board of Governors of the Federal Reserve System, April 10,
1995.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 95-9210 Filed 4-13-95; 8:45 am]
BILLING CODE 6210-01-F
