[Federal Register Volume 61, Number 132 (Tuesday, July 9, 1996)]
[Notices]
[Pages 36061-36062]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-17423]
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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
[[Page 36062]]
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 22, 1996.
A. Federal Reserve Bank of Boston (Robert M. Brady, Vice President)
600 Atlantic Avenue, Boston, Massachusetts 02106:
1. Cambridge Bancorp, Cambridge, Massachusetts; to engage de novo
through its subsidiary, Cambridge Investment Services of NH, Inc.,
Cambridge, Massachusetts, in investment advisory activities pursuant to
Sec. 225.25(b)(4) of the Board's Regulation Y.
B. Federal Reserve Bank of New York (Christopher J. McCurdy, Senior
Vice President) 33 Liberty Street, New York, New York 10045:
1. Deutsche Bank AG, Frankfurt (Main), Federal Republic of Germany;
to engage de novo through its indirect subsidiary, Deutsche Morgan
Grenfell Financial Products Corporation, New York, New York, in trading
for its own account, for purposes other than hedging, in U.S.
government securities and Eurodollars and options on futures on U.S.
government securities and Eurodollars. Notificant proposes to engage in
the proposed activities worldwide. The Board previously has determined,
by order, that the proposed activities are ``so closely related to
banking or managing or controlling banks as to be proper incident
thereto.'' See Swiss Bank Corporation, 77 Federal Reserve Bulletin 759
(1991). Notificant has stated that Company will conduct the proposed
activities subject to the limitations established by the Board in its
previous orders.
C. Federal Reserve Bank of San Francisco (Kenneth R. Binning,
Director, Bank Holding Company) 101 Market Street, San Francisco,
California 94105:
1. Zions Bancorporation, Salt Lake City, Utah; to engage de novo
through its subsidiary, Cash Access, Inc., Salt Lake City, Utah, a de
novo, wholly-owned subsidiary, in data processing and data transmission
services through the installation and operation of automatic teller
machines, pursuant to Sec. 225.25(b)(7) of the Board's Regulation Y.
Board of Governors of the Federal Reserve System, July 2, 1996.
Jennifer J. Johnson
Deputy Secretary of the Board
[FR Doc. 96-17423 Filed 7-08-96; 8:45 am]
BILLING CODE 6210-01-F
