[Federal Register Volume 64, Number 178 (Wednesday, September 15, 1999)]
[Notices]
[Page 50091]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-24012]
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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, including the
companies listed below, 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 September 29, 1999.
A. Federal Reserve Bank of Cleveland (Paul Kaboth, Banking
Supervisor) 1455 East Sixth Street, Cleveland, Ohio 44101-2566:
1. PNC Bank Corp., Pittsburgh, Pennsylvania; to acquire First Data
Investor Services Group, Inc., Westborough, Massachusetts; and thereby
indirectly acquire Actuarial Computer Technology, Inc., Westborough,
Massachusetts; Applied Mailing Systems, Inc., Westborough,
Massachusetts; First Data Distributors, Inc., Westborough,
Massachusetts; and United States Pension Services, Inc., Westborough,
Massachusetts, and thereby engage in various administrative service
activities as previously approved in Board Orders (see Bankers Trust
New York Corp., 83 Fed. Res. Bull. 780 (1997) and Commerzbank AG, 83
Fed. Res. Bull. 679 (1997)) and in financial and investment advisory
services, pursuant to Sec. 225.28(b)(6) of Regulation Y; agency
transactional services, pursuant to Sec. 225.28(b)(7) of Regulation Y;
employee benefits consulting services, pursuant to Sec.
225.28(b)(9)(ii) of Regulation Y; support services, pursuant to Sec.
225.28(b)(10) of Regulation Y; data processing services, pursuant to
Sec. 225.28(b)(14) of Regulation Y; and in serving as a transfer agent
to investment companies, pursuant to Sec. 225.28(b)(5) of Regulation
Y.
In addition to this application, Applicant also has applied to
acquire NA Insurance Services, Inc., Seal Beach, California, and
thereby engage in operating as a necessary incident to retirement plan
services, (see Mellon Bank Corp./Buckeye Consultants, (83 Fed. Res.
Bull. 681 (1997)) and section 225.28(b)(5) of Regulation Y.
Board of Governors of the Federal Reserve System, September 9,
1999.
Robert deV. Frierson,
Associate Secretary of the Board.
[FR Doc. 99-24012 Filed 9-14-99; 8:45 am]
BILLING CODE 6210-01-F
