[Federal Register Volume 59, Number 97 (Friday, May 20, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-12373]
[[Page Unknown]]
[Federal Register: May 20, 1994]
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FEDERAL RESERVE SYSTEM
SunTrust Banks, Inc.; Acquisition of Company Engaged in
Nonbanking Activities
The organization listed in this notice has applied under Secs.
225.23(a) or (f) of the Board's Regulation Y (12 CFR 225.23(a) 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. 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 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 Atlanta (Zane R. Kelley, Vice President)
104 Marietta Street, NW., Atlanta, Georgia 30303:
1. SunTrust Banks, Inc., Atlanta, Georgia; to engage de novo
through a wholly owned subsidiary SunTrust Capital Markets, Inc.,
Atlanta, Georgia, in making, servicing, or acquiring loans or other
extensions of credit, in acting as an investment or financial advisor,
in leasing personal or real property, in arranging commercial real
estate equity financing, in providing securities brokerage services,
and in underwriting and dealing in government obligations and money
market instruments, pursuant to Secs. 225.25(b)(1), (4), (5), (14),
(15), and (16) of the Board's Regulation Y, respectively.
In addition, Applicant proposes to engage, through Company, in
certain nonbank activities that have been approved by Board Order, but
have not yet been added to the laundry list of permissible nonbank
activities. Applicant proposes to engage in the private placement of
all types of debt and equity securities, see Bankers Trust New York
Corporation, 75 Federal Reserve Bulletin 829 (1989) (Bankers Trust);
J.P. Morgan & Company Incorporated, 76 Federal Reserve Bulletin 26
(1990) (J.P. Morgan); to buy and sell all types of debt and equity
securities on the order of customers as a riskless principal, see
Bankers Trust and J.P. Morgan; and to underwrite and deal in municipal
revenue bonds, mortgage-related securities, consumer-receivable related
securities and commercial paper, see Citicorp, J.P. Morgan & Company
Incorporated and Bankers Trust New York Corporation, 73 Federal Reserve
Bulletin 473 (1987); Chemical New York Corporation et al, 73 Federal
Reserve Bulletin 731 (1987); as modified by Order Approving
Modification to Section 20 Orders, 75 Federal Reserve Bulletin 751
(1989).
Board of Governors of the Federal Reserve System, May 16, 1994.
Jennifer J. Johnson,
Associate Secretary of the Board.
[FR Doc. 94-12373 Filed 5-19-94; 8:45 am]
BILLING CODE 6210-01-F
