[Federal Register Volume 63, Number 126 (Wednesday, July 1, 1998)]
[Notices]
[Pages 35932-35933]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-17453]
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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, including the
companies listed below, 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. The notice also will 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 July 17, 1998.
A. Federal Reserve Bank of Boston (Richard Walker, Community
Affairs Officer) 600 Atlantic Avenue, Boston, Massachusetts 02106-2204:
1. BankBoston Corporation (BKB), Boston, Massachusetts; to acquire
Robertson Stephens, Inc., San Francisco, California, and thereby engage
in
[[Page 35933]]
underwriting and dealing to a limited extent in all types of equity
securities, other than ownership interest in open-end investment
companies; making, acquiring and servicing loans and other extensions
of credit, pursuant to Sec. 225.28(b)(1) of Regulation Y; providing
investment and financial advisory services, pursuant to Sec.
225.28(b)(6) of Regulation Y; arranging commercial or industrial real
estate equity financing, pursuant to Sec. 225.28(b)(2)(ii) of
Regulation Y; underwriting and dealing in obligations of the United
States and Canada, general obligations of U.S. States, Canadian
provinces, and their political subdivisions, and other obligation in
which state member banks may underwrite and deal under 12 U.S.C. 24 and
335, pursuant to Sec. 225.28(b)(8) of Regulation Y; and providing
securities brokerage, private placement, and riskless principal
services, pursuant to Sec. 225.28(b)(7)(i), (ii), and (iii) of
Regulation Y. The proposed activities are currently being conducted,
directly or indirectly, by the subject entities with Board approval.
(See Bank of Boston Corp., 83 Fed. Res. Bull. 42 (1997) and Bank
America Corp., 83 Fed. Res. Bull. 1008 (1997)).
Board of Governors of the Federal Reserve System, June 25, 1998.
Robert deV. Frierson,
Associate Secretary of the Board.
[FR Doc. 98-17453 Filed 6-30-98; 8:45 am]
BILLING CODE 6210-01-F
