[Federal Register Volume 59, Number 90 (Wednesday, May 11, 1994)] [Unknown Section] [Page 0] From the Federal Register Online via the Government Publishing Office [www.gpo.gov] [FR Doc No: 94-11388] [[Page Unknown]] [Federal Register: May 11, 1994] ----------------------------------------------------------------------- FEDERAL MARITIME COMMISSION Signet Banking Corporation, et al.; Notice of Applications to Engage de novo in Permissible Nonbanking Activities The companies listed in this notice have filed an application under Sec. 225.23(a)(1) of the Board's Regulation Y (12 CFR 225.23(a)(1)) 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 commence or to engage de novo, either directly or through a subsidiary, 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. Unless otherwise noted, such activities will be conducted throughout the United States. Each 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. 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 May 31, 1994. A. Federal Reserve Bank of Richmond (Lloyd W. Bostian, Jr., Senior Vice President) 701 East Byrd Street, Richmond, Virginia 23261: 1. Signet Banking Corporation, Richmond, Virginia; to engage de novo through its subsidiary, Signet Credit Card Bank, Richmond, Virginia in making, acquiring, or servicing loans or other extensions of credit for the company's account or the account of others, such as would be made by a credit card company pursuant to Sec. 225.25(b)(1) of the Board's Regulation Y. B. Federal Reserve Bank of Dallas (Genie D. Short, Vice President) 2200 North Pearl Street, Dallas, Texas 75201-2272: 1. Northwest Bancorporation, Inc., Houston, Texas; to engage de novo in trust company activities pursuant to Sec. 225.25(b)(3) of the Board's Regulation Y. Board of Governors of the Federal Reserve System, May 5, 1994. William W. Wiles, Secretary of the Board. [FR Doc. 94-11388 Filed 5-10-94; 8:45 am] BILLING CODE 6210-01-F