[Federal Register Volume 59, Number 90 (Wednesday, May 11, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-11388]
[[Page Unknown]]
[Federal Register: May 11, 1994]
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FEDERAL MARITIME COMMISSION
Signet Banking Corporation, 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 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 May 31, 1994.
A. Federal Reserve Bank of Richmond (Lloyd W. Bostian, Jr., Senior
Vice President) 701 East Byrd Street, Richmond, Virginia 23261:
1. Signet Banking Corporation, Richmond, Virginia; to engage de
novo through its subsidiary, Signet Credit Card Bank, Richmond,
Virginia in making, acquiring, or servicing loans or other extensions
of credit for the company's account or the account of others, such as
would be made by a credit card company pursuant to Sec. 225.25(b)(1)
of the Board's Regulation Y.
B. Federal Reserve Bank of Dallas (Genie D. Short, Vice President)
2200 North Pearl Street, Dallas, Texas 75201-2272:
1. Northwest Bancorporation, Inc., Houston, Texas; to engage de
novo in trust company activities pursuant to Sec. 225.25(b)(3) of the
Board's Regulation Y.
Board of Governors of the Federal Reserve System, May 5, 1994.
William W. Wiles,
Secretary of the Board.
[FR Doc. 94-11388 Filed 5-10-94; 8:45 am]
BILLING CODE 6210-01-F
