[Federal Register Volume 61, Number 137 (Tuesday, July 16, 1996)]
[Notices]
[Pages 37067-37068]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-18008]
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[[Page 37068]]
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 30, 1996.
A. Federal Reserve Bank of Kansas City (John E. Yorke, Senior Vice
President) 925 Grand Avenue, Kansas City, Missouri 64198:
1. First Kansas Bancshares, Inc., Hutchinson, Kansas; to engage de
novo through its subsidiary, Personal Finance Corp., Hutchinson,
Kansas, in a joint venture in consumer finance lending activities
pursuant to Sec. 225.25(b)(1) of the Board's Regulation Y.
B. Federal Reserve Bank of San Francisco (Kenneth R. Binning,
Director, Bank Holding Company) 101 Market Street, San Francisco,
California 94105:
1. Wells Fargo & Company, San Francisco, California; to engage de
novo through all their subsidiary banks, in expanding the geographic
scope of the activities authorized by Board Order dated December 16,
1985. Specifically to engage in the issuance and sale of payment
instruments as follows: (1) domestic money orders up to a maximum face
value of $10,000; (2) international money orders in denominations not
to exceed $10,000; and (3) official checks with no maximum limitation
on the face amount, but subject to certain conditions. Wells Fargo will
engage in these activities nationwide.
Board of Governors of the Federal Reserve System, July 10, 1996.
Jennifer J. Johnson
Deputy Secretary of the Board
[FR Doc. 96-18008 Filed 7-15-96; 8:45 am]
BILLING CODE 6210-01-F
