[Federal Register Volume 59, Number 96 (Thursday, May 19, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-12417]
[[Page Unknown]]
[Federal Register: May 19, 1994]
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FEDERAL RESERVE SYSTEM
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FEDERAL RESERVE SYSTEM
Waterhouse Investor Services, Inc.; 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
June 6, 1994.
A. Federal Reserve Bank of New York (William L. Rutledge, Senior
Vice President) 33 Liberty Street, New York, New York 10045:
1. Waterhouse Investor Services, Inc., New York, New York, to
become a bank holding company by acquiring 100 percent of the voting
shares of Waterhouse National Bank, White Plains, New York, a de novo
bank.
In connection with this application, Applicant has also applied to
acquire Waterhouse Securities Inc., and Washington Discount Brokerage
Corp., both of New York, and thereby engage in providing securities
brokerage services restricted to buying and selling securities solely
as agent for the account of customers pursuant to Sec.
225.25(b)(15)(i) of the Board's Regulation Y. In addition, Applicant
will execute, on a riskless principal basis, customer orders for
securities that are eligible for underwriting or dealing in by state
member banks pursuant to 12 U.S.C. Secs. 24 and 335. Such activities
are authorized for bank holding company subsidiaries pursuant to Sec.
225.25(b)(16) of the Board's Regulation Y.
Board of Governors of the Federal Reserve System, May 17, 1994.
Jennifer J. Johnson,
Associate Secretary of the Board.
[FR Doc. 94-12417 Filed 5-18-94; 8:45 am]
BILLING CODE 6210-01-F
