[Federal Register Volume 60, Number 171 (Tuesday, September 5, 1995)]
[Notices]
[Pages 46126-46127]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-21981]
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FEDERAL RESERVE SYSTEM
NBD Bancorp, Inc.; Formation of, Acquisition by, or Merger of
Bank Holding Companies; and Acquisition of Nonbanking Company
The company listed in this notice has applied under Sec. 225.14 of
the Board's Regulation Y (12 CFR 225.14) for the Board's approval under
section 3 of the Bank Holding Company Act (12 U.S.C. 1842) to become a
bank holding company or to acquire voting securities of a bank or bank
holding company. The listed company has also applied under Sec.
225.23(a)(2) of Regulation Y (12 CFR 225.23(a)(2)) for the Board's
approval under section 4(c)(8) of the Bank Holding Company Act (12
U.S.C. 1843(c)(8)) and Sec. 225.21(a) of Regulation Y (12 CFR
225.21(a)) to acquire or control voting securities or assets of a
company engaged in a nonbanking activity that is listed in Sec. 225.25
of Regulation Y as closely related to banking and permissible for bank
holding companies, or to engage in such an activity. Unless otherwise
noted, these activities will be conducted throughout the United States.
The application is available for immediate inspection at the
Federal Reserve Bank indicated. Once the application has been accepted
for processing, it will also be available for inspection at the offices
of the Board of Governors. Interested persons may express their views
in writing on the question whether consummation of the proposal can
``reasonably be expected to produce benefits to the public, such as
greater convenience, increased competition, or gains in efficiency,
that outweigh possible adverse effects, such as undue concentration of
resources, decreased or unfair competition, conflicts of interests, or
unsound banking practices.'' Any request for a hearing on this question
must be accompanied by a statement of the reasons 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.
Comments regarding the application must be received at the Reserve
Bank indicated or the offices of the Board of Governors not later than
September 29, 1995.
A. Federal Reserve Bank of Chicago (James A. Bluemle, Vice
President) 230 South LaSalle Street, Chicago, Illinois 60690:
1. NBD Bancorp, Inc., Detroit Michigan (NBD Bancorp); to acquire
First Chicago Corporation, Chicago,
[[Page 46127]]
Illinois, and American National Corporation, Chicago, Illinois, and
thereby indirectly acquire First National Bank of Chicago, Chicago,
Illinois, FCC National Bank, Wilmington, Delaware, and American
National Bank & Trust Company, Chicago, Illinois.
In connection with this application, NBD Bancorp also has applied
to acquire ANB Mezzanine Corporation, Chicago, Illinois, and thereby
engage in making, acquiring, and servicing loans or other extensions of
credit, pursuant to Sec. 225.25(b)(1) of the Board's Regulation Y;
Cash Station, Inc., Chicago, Illinois, and thereby engage in data
processing activities, pursuant to Sec. 225.25(b)(7) of the Board's
Regulation Y; First Capital Corporation of Chicago, Chicago, Illinois,
and thereby engage in making, acquiring, and servicing loans or other
extensions of credit, pursuant to Sec. 225.25(b)(1) of the Board's
Regulation Y; First Chicago Capital Markets, Inc., Chicago, Illinois,
and thereby engage in providing financial and transaction advice, in
providing full-service securities brokerage services, and in
underwriting and dealing in securities that state member banks are
permitted to underwrite and deal in, pursuant to Sec. 225.25(b)(4),
(15), and (16), as well as the following: underwriting and dealing, to
a limited extent, in certain debt securities that a state member bank
may not underwrite or deal in, purchasing and selling securities as a
``riskless principal,'' and acting as an agent in the private placement
of securities, all pursuant to First Chicago Corporation, 74 Federal
Reserve Bulletin 706 (1988) and First Chicago Corporation, 80 Federal
Reserve Bulletin 448 (1994); First Chicago Investment Corporation,
Chicago, Illinois, and thereby engage in making, acquiring, and
servicing loans or other extensions of credit, pursuant to Sec.
225.25(b)(1) of the Board's Regulation Y; First Chicago Lease Holding,
Inc., Chicago, Illinois, and thereby engage in commercial leasing
activities, pursuant to Sec. 225.25(b)(5) of the Board's Regulation Y;
First Chicago Leasing Corporation, Chicago, Illinois, and thereby
engage in making, acquiring, and servicing loans, or other extensions
of credit, commercial leasing activities, and community development
activities, pursuant to Sec. 225.25(b)(1), (5), and (6) of the Board's
Regulation Y; First Chicago Realty Corporation, Chicago, Illinois, and
thereby engage in making, acquiring, and servicing loans or other
extensions of credit, pursuant to Sec. 225.25(b)(1) of the Board's
Regulation Y; Palo Verde Lease Holdings, Inc., Chicago, Illinois, and
thereby engage in commercial leasing activities, pursuant to Sec.
225.25(b)(5) of the Board's Regulation Y; First Chicago Trust Company
of New York, New York, New York, and thereby engage in performing
functions and activities that may be performed by a trust company,
pursuant to Sec. 225.25(b)(3); and G-W Life Insurance Company,
Phoenix, Arizona, and thereby engage in underwriting credit life,
accident and health insurance related to certain extensions of credit,
pursuant to Sec. 225.25(b)(8)(i) of the Board's Regulation Y.
NBD Bancorp, Inc., also has applied to exercise an option to
acquire up to 19.9 percent of the voting shares of First Chicago
Corporation, and American National Corporation, both of Chicago,
Illinois.
In addition, First Chicago Corporation, Chicago, Illinois (First
Chicago), has applied to exercise an option to acquire up to 19.9
percent of the voting shares of NBD Bancorp, Inc., Detroit, Michigan,
NBD Indiana, Inc., Indianapolis, Indiana, and NBD Illinois, Inc., Park
Ridge, Illinois, and thereby acquire NBD Bank, Detroit, Michigan, NBD
Bank, N.A., Indianapolis, Indiana, NBD Bank, Elkhart, Indiana, NBD
Bank, Wheaton, Illinois, NBD Bank, N.A., Skokie, Illinois, NBD Bank,
Columbus, Ohio, and National Bank of Detroit-Dearborn, Dearborn,
Michigan.
In connection with this application, First Chicago also has applied
to acquire NBD Bank, FSB, Venice, Florida, and Deerfield Federal
Savings & Loan Association, Deerfield, Illinois, and thereby engage in
operating a savings association, pursuant to Sec. 225.25(b)(9) of
Regulation Y; ML Inc., Detroit, Michigan, and thereby engage in data
processing activities, pursuant to Sec. 225.25(b)(7) of the Board's
Regulation Y; NBD Insurance Agency, Inc., Detroit, Michigan, and
thereby engage in insurance agency activities related to extensions of
credit, pursuant to Sec. 225.25(b)(8)(i) of Regulation Y; NBD
Insurance Company, Detroit, Michigan, and thereby engage in insurance
agency activities related to extensions of credit, pursuant to Sec.
225.25(b)(8)(i) of Regulation Y; BHC Financial, Inc., Philadelphia,
Pennsylvania, and thereby engage in securities brokerage activities,
pursuant to Sec. 225.25(b)(15); NBD Mortgage Company, Detroit,
Michigan, and thereby engage in making, acquiring, and servicing loans
or other extensions of credit, pursuant to Sec. 225.25(b)(1) of
Regulation Y; NBD Service Corporation, Belleville, Michigan, and
thereby engage in data processing activities, pursuant to Sec.
225.25(b)(7) of the Board's Regulation Y; NBD Securities, Inc.,
Detroit, Michigan, and thereby engage in securities brokerage
activities, pursuant to Sec. 225.25(b)(15) of Regulation Y; FNW
Capital, Inc., Mount Prospect, Illinois, and thereby engage in
commercial leasing, pursuant to Sec. 225.25(b)(5) of Regulation Y; NBD
Community Development Corporation, Detroit, Michigan, and thereby
engage in community development activities, pursuant to Sec.
225.25(b)(6) of Regulation Y; NBD Financial Services of Michigan, Inc.,
Traverse City, Michigan, and thereby engage in providing investment or
financial advice, pursuant to Sec. 225.25(b)(4) of Regulation Y; NBD
Brokerage Services, Inc., Indianapolis, Indiana, and thereby engage in
securities brokerage activities, pursuant to Sec. 225.25(b)(15) of
Regulation Y; Charter Agency, Incorporated, Northfield, Illinois, and
thereby engage in insurance agency activities, pursuant to Sec.
225.25(b)(8) of Regulation Y; Corporate Funding Inc., Grand Rapids,
Michigan, and thereby engage in commercial leasing, pursuant to Sec.
225.25(b)(5) of Regulation Y; NBD Leasing, Inc., Indianapolis, Indiana,
and thereby engage in commercial leasing, pursuant to Sec.
225.25(b)(5) of Regulation Y; NBD Neighborhood Revitalization
Corporation, Indianapolis, Indiana, and thereby engage in community
development activities, pursuant to Sec. 225.25(b)(6) of Regulation Y;
and NBD Real Estate Services, Indianapolis, Indiana, and thereby engage
in making, acquiring, and servicing loans or other extensions of
credit, leasing real property, insurance agency activities related to
extensions of credit, management consulting, and real estate
appraising, pursuant to Sec. 225.25(b)(1), (5), (8), (11), and (13) of
Regulation Y.
Board of Governors of the Federal Reserve System, August 30,
1995.
William W. Wiles,
Secretary of the Board.
[FR Doc. 95-21981 Filed 9-1-95; 8:45 am]
BILLING CODE 6210-01-F
