[Federal Register Volume 64, Number 178 (Wednesday, September 15, 1999)]
[Notices]
[Page 50091]
From the Federal Register Online via the Government Printing 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