[Federal Register Volume 60, Number 156 (Monday, August 14, 1995)]
[Notices]
[Pages 41890-41891]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-19985]
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FEDERAL RESERVE SYSTEM
401 K Plan and ESOP of United States Trust Company of New York
and Affiliated Companies; Formation of, Acquisition by, or Merger of
Bank Holding Companies; and Acquisition of Nonbanking Company
The company listed in this notice has applied under Sec. 225.14 of
the Board's Regulation Y (12 CFR 225.14) for the Board's approval under
section 3 of the Bank Holding Company Act (12 U.S.C. 1842) to become a
bank holding company or to acquire voting securities of a bank or bank
holding company. The listed company has also applied under Sec.
225.23(a)(2) of Regulation Y (12 CFR 225.23(a)(2)) for the Board's
approval under section 4(c)(8) of the Bank Holding Company Act (12
U.S.C. 1843(c)(8)) and Sec. 225.21(a) of Regulation Y (12 CFR
225.21(a)) to acquire or control voting securities or assets of a
company engaged in a nonbanking activity that is listed in Sec. 225.25
of Regulation Y as closely related to banking and permissible for bank
holding companies, or to engage in such an activity. Unless otherwise
noted, these activities will be conducted throughout the United States.
The application is available for immediate inspection at the
Federal Reserve Bank indicated. Once the application 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
[[Page 41891]]
question 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.'' 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.
Comments regarding the application must be received at the Reserve
Bank indicated or the offices of the Board of Governors not later than
September 7, 1995.
A. Federal Reserve Bank of New York (William L. Rutledge, Senior
Vice President) 33 Liberty Street, New York, New York 10045:
1. 401 K Plan and ESOP of United States Trust Company of New York
New York, New York; to become a bank holding company by acquiring
between 25 and 35 percent of the voting shares of New USTC Holdings
Corporation, New York, New York (``New Holdings''), and thereby
indirectly acquire New U.S. Trust Company of New York, New York, New
York; U.S. Trust Company of Texas, N.A., Dallas, Texas; and U.S. Trust
Company of California, N.A., Los Angeles, California.
In connection with this application, Applicant also has applied to
acquire U.S. Trust Company of Florida Savings Bank, Palm Beach,
Florida, and thereby engage in trust company, investment and financial
advisory, community development, and savings association operations
activities, pursuant to Secs. 225.25(b)(3), (4), (6), and (9), of the
Board's Regulation Y; [2] through CTMC Holding Company and its wholly-
owned subsidiaries, U.S. Trust Company of the Pacific Northwest, and
CTC Consulting, all of Portland, Oregon, in trust company, and
investment and financial advisory activities pursuant to Secs.
225.25(b)(3) and (4) of the Board's Regulation Y, respectively, [3]
through Campbell, Cowperthwait & Co., Inc., New York, New York, in
investment or financial advice pursuant to Sec. 225.25(b)(4) of the
Board's Regulation Y, [4] through U.S. Trust Company of New Jersey and
its wholly-owned subsidiary, U.S.T. Securities Corp., both of
Princeton, New Jersey, in trust company, investment and financial
advisory, securities brokerage, and riskless principal activities
pursuant to Secs. 225.25(b)(3), (4), (15) of the Board's Regulation Y
and previous Board order (U.S. Trust Corporation, 78 Federal Reserve
Bulletin 336, (1992)), respectively, and [5] through U.S. Trust Company
of Connecticut, Stamford, Connecticut, in trust company and investment
and financial advisory activities pursuant to Secs. 225.25(b)(3) and
(4) of the Board's Regulation Y.
Board of Governors of the Federal Reserve System, August 8,
1995.
William W. Wiles,
Secretary of the Board.
[FR Doc. 95-19985 Filed 8-11-95; 8:45 am]
BILLING CODE 6210-01-F
