E6-12876. 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, including the companies listed below, that engages either directly or through a subsidiary or other company, in a nonbanking activity that is listed in § 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. Additional information on all bank holding companies may be obtained from the National Information Center Web site at www.ffiec.gov/​nic/​.

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 23, 2006.

A. Federal Reserve Bank of New York (Anne McEwen, Financial Specialist) 33 Liberty Street, New York, New York 10045-0001:

1. Westpac Banking Corporation, Sydney, Australia; to engage de novo through its subsidiary, Hastings Funds Management (US), Inc., New York, New York, in providing investment and financial advice, pursuant to section 225.28(b)(6) of Regulation Y.

B. Federal Reserve Bank of San Francisco (Tracy Basinger, Director, Regional and Community Bank Group) 101 Market Street, San Francisco, California 94105-1579:

1. Belvedere Capital Fund II L.P. and Belvedere Capital Partners II LLC, both of San Francisco, California; to acquire Hometown Commercial Capital, LLC, Burlingame, California, and thereby engage in funding commercial real estate loans through established warehouse lines and subsequently securitizing pools through major Wall Street firms, pursuant to sections 225.28(b)(1) and (b)(2)(ii) of Regulation Y.

Board of Governors of the Federal Reserve System, August 3, 2006.

Jennifer J. Johnson,

Secretary of the Board.