[Federal Register Volume 59, Number 158 (Wednesday, August 17, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-20155]
[[Page Unknown]]
[Federal Register: August 17, 1994]
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FEDERAL RESERVE SYSTEM
NationsBank Corporation; Notice of Application to Engage De Novo
in Nonbanking Activities
NationsBank Corporation, Charlotte, North Carolina (``Applicant''),
has applied, pursuant to section 4(c)(8) of the Bank Holding Company
Act (12 U.S.C. Sec. 1843(c)(8)) (the ``BHC Act'') and Sec. 225.23 of
the Board's Regulation Y (12 CFR 225.23), to engage de novo through its
wholly owned subsidiaries, NationsBanc-CRT Services, Incorporated,
Chicago, Illinois, and NationsBanc-CRT Energy (U.K.) Limited, London,
England (collectively, ``Companies''), in the following activities:
(1) providing futures commission merchant (``FCM'') execution,
clearance and advisory services to affiliated and unaffiliated
customers with respect to futures and options on futures contracts on
financial instruments and financial commodities on stock and bond
indexes that have been previously approved by the Board, and on
exchanges previously approved by the Board, pursuant to Secs.
225.25(b)(18) and (b)(19) of the Board's Regulation Y and SR Letter No.
93027 (FIS) (May 21, 1993);
(2) providing FCM execution, clearance, and advisory services to
affiliated and unaffiliated customers with respect to futures and
options on futures contracts on non-financial commodities that have
been previously approved by the Board, and on exchanges previously
approved by the Board, as well as futures and options on futures
contracts on certain non-financial contracts on an exchange that the
Board has not previously approved for bank holding companies, in
accordance with J.P. Morgan & Co., Inc., 80 Federal Reserve Bulletin
151 (1994), Caisse Nationale de Credit Agricole, 80 Federal Reserve
Bulletin 552 (1994); and Bank of Montreal, 79 Federal Reserve Bulletin
1049 (1993); and
(3) providing discount and full service brokerage services and
related securities credit services, and conducting incidental
activities thereto, to institutional customers, and conducting
incidental activities thereto, pursuant to Sec. 225.25(b)(15) of the
Board's Regulation Y.
The exchange and futures and options on futures contracts with
respect to which Applicant proposes to provide FCM services, which the
Board has not previously approved, include the International Petroleum
Exchange, London, England, and the following contracts traded thereon:
Brent crude oil futures, Options on Brent crude oil futures, gas oil
futures, options on gas oil futures, and unleaded gasoline futures.
These activities will be conducted on a worldwide basis.
Any comments or requests for a hearing should be submitted in
writing and received by William W. Wiles, Secretary, Board of Governors
of the Federal Reserve System, Washington, DC 20551, not later than
August 31, 1994. Any request for a hearing on this application must, as
required by Sec. 262.3(e) of the Board's Rules of Procedure (12 CFR
262.3(e)), be accompanied by a statement of the reasons why 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.
This application may be inspected at the offices of the Board of
Governors or the Federal Reserve Bank of Richmond.
Board of Governors of the Federal Reserve System, August 11,
1994.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 94-20155 Filed 8-16-94; 8:45 am]
BILLING CODE 6210-01-F
