[Federal Register Volume 61, Number 123 (Tuesday, June 25, 1996)]
[Notices]
[Page 32817]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-16088]
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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. 225.25 of Regulation Y (12 CFR 225.25)
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, including 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'' (12 U.S.C. 1843). 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 July 19, 1996.
A. Federal Reserve Bank of Richmond (Lloyd W. Bostian, Jr., Senior
Vice President) 701 East Byrd Street, Richmond, Virginia 23261:
1. Southern National Corporation, Winston-Salem, North Carolina; to
engage de novo through its subsidiary, Money 24, Inc., Winston-Salem,
North Carolina, in placing, in locations owned or leased by third
parties, cash dispensing machines which would only be able to: (1)
dispense cash, (2) render account balances, and (3) transfer funds
between existing accounts, pursuant to Sec. 225.25(b)(7) of the
Board's Regulation Y.
B. Federal Reserve Bank of Minneapolis (James M. Lyon, Vice
President) 250 Marquette Avenue, Minneapolis, Minnesota 55480:
1. Norwest Corporation, Minneapolis, Minnesota; to merge Central
Computers, Inc., Victoria, Texas into Norwest Technical Services, Inc.,
Minneapolis, Minnesota, and thereby engage in data processing
activities, pursuant to Sec. 225.25(b)(7) of the Board's Regulation Y.
This application represents a corporate reorganization.
Board of Governors of the Federal Reserve System, June 19, 1996.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 96-16088 Filed 6-24-96; 8:45 am]
BILLING CODE 6210-01-F
