[Federal Register Volume 62, Number 113 (Thursday, June 12, 1997)]
[Notices]
[Pages 32117-32118]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-15427]
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FEDERAL RESERVE SYSTEM
Notice of Proposals To Engage in Permissible Nonbanking
Activities or To Acquire Companies That Are Engaged in Permissible
Nonbanking Activities
The companies listed in this notice have given notice under section
4 of the Bank Holding Company Act (12 U.S.C. 1843) (BHC Act) and
Regulation Y, (12 CFR Part 225) to engage de novo, or to acquire
or control voting securities or assets of a company that engages either
directly or through a subsidiary or other company, in a nonbanking
activity that is listed in Sec. 225.28 of Regulation Y (12 CFR 225.28)
or that the Board has determined by Order to be closely related to
banking and permissible for bank holding companies. Unless otherwise
noted, these activities will be conducted throughout the United States.
Each notice is available for inspection at the Federal Reserve Bank
indicated. Once the notice 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 the proposal complies with the standards of section 4
of the BHC Act.
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 June 27, 1997.
A. Federal Reserve Bank of New York (Betsy Buttrill White, Senior
Vice President) 33 Liberty Street, New York, New York 10045-0001:
[[Page 32118]]
1. Swiss Bank Corporation, Basel, Switzerland; to acquire Dillion,
Read Holding, Inc., New York, New York, and thereby engage in providing
merger and acquisition advice and other types of investment and
financial advisory services, pursuant to Sec. 225.28(b)(6) of the
Board's Regulation Y; in providing discount and full-service brokerage
services, and activities incidental thereto, pursuant to Sec.
225.28(b)(7) of the Board's Regulation Y; in acting as agent in the
private placement of all types of securities, and providing related
advisory services, pursuant to Sec. 225.28(b)(7) of the Board's
Regulation Y; in acting as a futures commission merchant in the
execution, clearance or execution and clearance of futures contracts
and options on futures contracts, pursuant to Sec. 225.28(b)(7) of the
Board's Regulation Y; in making loans or other extensions of credit for
the account of others, pursuant to Sec. 225.28(b)(1) of the Board's
Regulation Y; in dealing in obligations of the United States, general
obligations of states and their political subdivisions, and other
obligations that state member banks of the Federal Reserve System may
be authorized to underwrite and deal in, pursuant to Sec. 225.28(b)(8)
of the Board's Regulation Y; and in underwriting and dealing in, to a
limited extent, in all types of debt and equity securities, as
authorized in J.P. Morgan & Co., Incorporated, 75 Fed. Res. Bull. 192
(1989), and the prudential framework of limitations established by the
Board therein and in other decisions.
B. Federal Reserve Bank of Philadelphia (Michael E. Collins, Senior
Vice President) 100 North 6th Street, Philadelphia, Pennsylvania 19105-
1521:
1. CoreStates Financial Corp., Philadelphia, Pennsylvania; to
engage de novo through its subsidiary, CoreStates Securities Corp.,
Philadelphia, Pennsylvania, in underwriting and dealing in bank
ineligible securities See, Citicorp J.P. Morgan & Co., and Bankers
Trust New York Corp., 73 Fed. Res. Bull. 473 (1987); and in extending
credit and servicing loans, pursuant to Sec. 225.28(b)(1) of the
Board's Regulation Y; in activities related to extending credit,
pursuant to Sec. 225.28(b)(2) of the Board's Regulation Y; in
financial and investment advisory activities, pursuant to Sec.
225.28(b)(6) of the Board's Regulation Y; in securities brokerage
activities, pursuant to Sec. 225.28(b)(7) of the Board's Regulation Y;
in riskless principal transactions, pursuant to Sec. 225.28(b)(7) of
the Board's Regulation Y; in private placement services, pursuant to
Sec. 225.28(b)(7) of the Board's Regulation Y; in other transactional
services, pursuant to Sec. 225.28(b)(7) of the Board's Regulation Y;
in investment transactions as principal, pursuant to Sec. 225.28(b)(8)
of the Board's Regulation Y; and in management consulting and
counseling activities, pursuant to Sec. 225.28(b)(9) of the Board's
Regulation Y. Applicants seek to conduct these activities in the United
States and the United Kingdom.
Board of Governors of the Federal Reserve System, June 9, 1997.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 97-15427 Filed 6-11-97; 8:45 am]
BILLING CODE 6210-01-F
