[Federal Register Volume 62, Number 150 (Tuesday, August 5, 1997)]
[Notices]
[Pages 42130-42131]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-20584]
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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. 225.28 of Regulation Y (12 CFR 225.28)
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. The notice also will 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.
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 August 20, 1997.
A. Federal Reserve Bank of Richmond (A. Linwood Gill III, Assistant
Vice President) 701 East Byrd Street, Richmond, Virginia 23261-4528:
1. BB&T Corporation, Winston-Salem, North Carolina; to acquire
Craigie Incorporated, Richmond, Virginia, and thereby engage in
underwriting and
[[Page 42131]]
dealing in, to a limited extent, all types of debt and equity
securities, other than interests in open end investment companies; See
J.P. Morgan & Co., Inc., et al., 75 Fed. Res. Bull. 192 (1989) and
Citicorp, et al., 73 Fed. Res. Bull. 473 (1987); underwriting and
dealing in bank-eligible securities, pursuant to Sec. 225.28(b)(8) of
the Board's Regulation Y; providing securities brokerage services on
either a stand-alone or full-service basis, pursuant to Sec.
225.28(b)(7) of the Board's Regulation Y; acting as agent for issuers
and holders in the private placement of various types of securities
with financially sophisticated counterparties in a non-public offering,
pursuant to Sec. 225.28(b)(7) of the Board's Regulation Y; buying and
selling on the order of investors as a riskless principal, pursuant to
Sec. 225.28(b)(7) of the Board's Regulation Y; making, acquiring or
servicing loans or other extensions of credit, including purchasing and
selling such loans and extensions of credit in the secondary market,
and engaging in mortgage banking activities, pursuant to Sec.
225.28(b)(1) of the Board's Regulation Y; acting as an investment or
financial advisor to the extent of (i) serving as the advisory company
for a mortgage or real estate investment trust; (ii) serving as an
investment adviser to an investment company registered under the 1940
Act, including sponsoring, organizing and managing a closed-end
investment company; (iii) providing portfolio investment advice; (iv)
furnishing general economic information and advice, general economic
statistical forecasting services and industry studies; and/or (v)
providing financial advice to state and local governments, such as with
respect to the issuance of their securities, pursuant to Sec.
225.28(b)(6) of the Board's Regulation Y; providing advice and acting
as arranger in connection with merger, acquisition, divestiture and
financial transactions, including public and private financings, loan
syndications, interest rate and currency swaps, interest rate caps and
similar transactions and/or furnishing evaluation and fairness opinions
in connection with merger, acquisition, and similar transactions,
pursuant to Secs. 225.28(b)(6) and (b)(7) of the Board's Regulation Y;
acting as agent or broker with respect to interests in loan
syndications, interest rate and currency swaps, interest rate caps,
floors and collars, and options on such instruments, pursuant to Sec.
225.28(b)(7) of the Board's Regulation Y; leasing personal or real
property or acting as agent, broker or adviser in leasing such
property, pursuant to Sec. 225.28(b)(3) of the Board's Regulation Y;
providing management consulting advice to non-affiliated depository
institutions, pursuant to Sec. 225.28(b)(9) of the Board's Regulation
Y; engaging in futures, forward and option contracts on bank-eligible
securities for hedging purposes, pursuant to Sec. 225.28(b)(8) of the
Board's Regulation Y; engaging in securities credit activities,
pursuant to the Federal Reserve's Regulation T (covering credit by
brokers and dealers), including acting as a ``conduit'' or
``intermediary'' in securities borrowing and lending, pursuant to Sec.
225.28(b)(7) of the Board's Regulation Y; and serving as the general
partner of and holding equity interests in certain limited partnerships
that would be exempt from registration under the 1940 Act, See Meridian
Bancorp, Inc., 80 Fed. Res. Bull. 736 (1994).
B. Federal Reserve Bank of Atlanta (Lois Berthaume, Vice President)
104 Marietta Street, N.W., Atlanta, Georgia 30303-2713:
1. C B & T, Inc., McMinnville, Tennessee; to acquire CBT Insurance,
Inc., Smithville, Tennessee, and thereby continue to engage in
insurance activities, pursuant to Sec. 225.28(b)(11) of the Board's
Regulation Y. The proposed activity will be conducted throughout the
state of Tennessee.
Board of Governors of the Federal Reserve System, July 31, 1997.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 97-20584 Filed 8-4-97; 8:45 am]
BILLING CODE 6210-01-F
