[Federal Register Volume 60, Number 72 (Friday, April 14, 1995)]
[Notices]
[Pages 19064-19065]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-9211]
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FEDERAL RESERVE SYSTEM
The Royal Bank of Canada; Acquisition of Company Engaged in
Permissible Nonbanking Activities
The organization listed in this notice has applied under Sec.
225.23(a)(2) or (f) of the Board's Regulation Y (12 CFR 225.23(a)(2) or
(f)) 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 closely related to
banking and permissible for bank holding companies. Unless otherwise
noted, such 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 [[Page 19065]] 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 28, 1995.
A. Federal Reserve Bank of New York (William L. Rutledge, Senior
Vice President) 33 Liberty Street, New York, New York 10045:
1. The Royal Bank of Canada, Montreal, Quebec, Canada; to expand
the geographic scope of its subsidiary, RBC Dominion Securities
Corporation, New York, New York (Securities Corp.), to operate on a
worldwide basis. Securities Corp., engages in securities-related
activities, including securities brokerage actvities, as well as
limited securities underwriting and dealing. All the activities have
been previously approved for this entity by order. See, e.g. The Royal
Bank of Canada, 77 Federal Reserve Bulletin 272 (1991).
Board of Governors of the Federal Reserve System, April 10,
1995.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 95-9211 Filed 4-13-95; 8:45 am]
BILLING CODE 6210-01-F
