[Federal Register Volume 61, Number 174 (Friday, September 6, 1996)]
[Notices]
[Pages 47128-47129]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-22742]
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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. 225.25 of Regulation Y (12 CFR 225.25)
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. Once the notice 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 the proposal complies with the standards of section 4
of the
[[Page 47129]]
BHC Act, including 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'' (12 U.S.C. 1843). 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.
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 19, 1996.
A. Federal Reserve Bank of Boston (Robert M. Brady, Vice President)
600 Atlantic Avenue, Boston, Massachusetts 02106:
1. State Street Boston Corporation, Boston, Massachusetts; to
engage de novo through its subsidiaries, Boston Financial Data
Services, Inc., Quincy, Massachusetts, and National Financial Data
Services, Inc., Kansas City, Missouri, in securities brokerage
activities, pursuant to Sec. 225.25(b)(15)(i) of the Board's
Regulation Y.
B. Federal Reserve Bank of New York (Christopher J. McCurdy, Senior
Vice President) 33 Liberty Street, New York, New York 10045:
1. Summit Bancorp, Princeton, New Jersey; to acquire Central Jersey
Financial Corp., East Brunswick, New Jersey, and thereby indirectly
acquire Central Jersey Savings Bank, SLA, East Brunswick, New Jersey,
and thereby engage in operating a savings association, pursuant to
Sec. 225.25(b)(9) of the Board's Regulation Y.
C. Federal Reserve Bank of Philadelphia (Michael E. Collins, Senior
Vice President) 100 North 6th Street, Philadelphia, Pennsylvania 19105:
1. CoreStates Financial Corp., Philadelphia, Pennsylvania; to
engage de novo through its subsidiary, CoreStates Securities Corp,
Philadelphia, Pennsylvania, in underwriting and dealing in government
obligations, pursuant to Sec. 225.25(b)(16) of the Board's Regulation
Y.
2. Fulton Financial Corporation, Lancaster, Pennsylvania; to engage
de novo in community development activities through a limited
partnership, pursuant to Sec. 225.25(b)(6) of the Board's Regulation
Y.
D. Federal Reserve Bank of Chicago (James A. Bluemle, Vice
President) 230 South LaSalle Street, Chicago, Illinois 60690:
1. Caisse Nationale de Credit Agricole S.A., Paris, France; to
retain through Banque Indosuez, Paris, France, Indosuez Carr Futures,
Inc., Chicago, Illinois, Daniel Breen & Company, L.P., Houston, Texas,
and thereby engage in acting as a futures commission merchant and
providing related advisory services, and in investment advisory
activities. In connection with this application, Caisse Nationale de
Credit Agricole S.A., Paris, France, and Banque Indosuez, Paris,
France, also have applied to engage through Daniel Breen & Company,
L.P., Houston, Texas, and Breen Trust Company, Houston, Texas, in
functions and activities permitted for trust companies. In addition,
Applicants also have applied to engage de novo in acting as a futures
commission merchant and providing related advisory services with
respect to non-financial futures and, to provide execution-only and
clearance-only services with respect to futures transactions. Applicant
proposed to engage in these activities, pursuant to Sec. 225.25
b)(18), and (b)(3) of the Board's Regulation Y and Board Order. 79 Fed.
Res. Bull. 1049 (1993); 80 Fed. Res. Bull. 151 (1994); 80 Fed. Res.
Bull. 649 (1994); and 80 Fed. Res. Bull. 552 (1994).
2. Stichting Prioriteit ABN AMRO Holding, Amsterdam, The
Nertherlands; Stichting Administratiekantoor ABN AMRO Holding,
Amsterdam, The Netherlands; ABN AMRO Holding N.V., Amsterdam, The
Netherlands; ABN AMRO Bank N.V., Amsterdam, The Netherlands; ABN AMRO
North America, Inc., Chicago, Illinois, to acquire Heigle Mortgage and
Financial Corporation, Bloomington, Minnesota, and thereby indirectly
acquire LaSalle Home Mortgage Corporation, Chicago, Illinois, and
thereby engage in the nonbanking activity of making and servicing
loans, pursuant to Sec. 225.25(b)(1) of the Board's Regulation Y.
E. Federal Reserve Bank of St. Louis (Randall C. Sumner, Vice
President) 411 Locust Street, St. Louis, Missouri 63166:
1. National Commerce Bancorporation, Memphis, Tennessee; to acquire
Kenesaw Leasing Inc., Knoxville, Tennessee, and thereby engage in
leasing personal or real property, pursuant to Sec. 225.25(b)(5) of
the Board's Regulation Y.
Board of Governors of the Federal Reserve System, August 30,
1996.
William W. Wiles
Secretary of the Board
[FR Doc. 96-22742 Filed 9-5-96; 8:45 am]
BILLING CODE 6210-01-F
