[Federal Register Volume 60, Number 164 (Thursday, August 24, 1995)]
[Notices]
[Page 44032]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: X95-10824]
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FEDERAL RESERVE SYSTEM
Banco Santander, S.A.; FFB Participacoes e Servicos, S.A.
Acquisition of Voting Securities of a Bank Holding Company
Banco Santander, S.A., Madrid, Spain, and its wholly owned
subsidiary, FFB Participacoes e Servicos, S.A., Funchal, Portugal
(together, Applicant), has applied under sections 3 and 4 of the Bank
Holding Company Act (12 U.S.C. 1842 and 1843) (BHC Act) and
Secs. 225.14, 225.21(a) and 225.23(a) of the Board's Regulation Y (12
CFR 225.14, 225.21(a), and 225.23(a)), to acquire approximately 11.4
percent of the outstanding voting shares of First Union Corporation,
Charlotte, North Carolina (First Union), and thereby indirectly acquire
interests in the following First Union bank and nonbank subsidiaries:
First Union National Bank of Florida, Jacksonville, Florida; First
Union National Bank of North Carolina, Charlotte, North Carolina; First
Union National Bank of Georgia, Atlanta, Georgia; First Union National
Bank of Tennessee, Nashville, Tennessee; First Union National Bank of
Maryland, Rockville, Maryland; First Union National Bank of Virginia,
Roanoke, Virginia; First Union National Bank of Washington, D.C.,
Washington, D.C.; First Union National Bank of South Carolina,
Greenville, South Carolina; First Union Home Equity Bank, National
Association, Charlotte, North Carolina; First Union Capital Markets
Corporation, Charlotte, North Carolina; First Union Community
Development Corporation, Charlotte, North Carolina; First Union
Development Corporation, Charlotte, North Carolina; First Union Export
Trading Company, Charlotte, North Carolina; First Union Futures
Corporation, Charlotte, North Carolina; First Union Mortgage
Corporation, Charlotte, North Carolina, and General Financial Life
Insurance Company, Charlotte, North Carolina.
Applicant is not applying to, and will not, acquire control of
First Union. Applicant will provide commitments to the Board to ensure
that Applicant will not exercise control over First Union. Applicant's
acquisition of voting shares of First Union are in consideration for
Applicant's ownership interest in First Fidelity Bancorporation,
Newark, New Jersey, and Philadelphia, Pennsylvania (First Fidelity).
First Union has applied to merge First Fidelity with First Union's
direct subsidiary, First Union Corporation of New Jersey, Newark, New
Jersey.
Any comments or requests for hearing should be submitted in writing
and received by William W. Wiles, Secretary, Board of Governors of the
Federal Reserve System, Washington, D.C. 20551, not later than
September 11, 1995. Any request for a hearing on this proposal must, as
required by section 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. The
notice may be inspected at the offices of the Board of Governors or the
Federal Reserve Bank of New York.
Board of Governors of the Federal Reserve System, August 18,
1995.
Jennifer J. Johnson,
Deputy Secretary of the Board
[FR. Doc. 95-20999 Filed 8-23-95; 8:45 am]
BILLING CODE 6210-01-F
