[Federal Register Volume 60, Number 198 (Friday, October 13, 1995)] [Notices] [Page 53377] From the Federal Register Online via the Government Publishing Office [www.gpo.gov] [FR Doc No: 95-25401] ----------------------------------------------------------------------- FEDERAL RESERVE SYSTEM National Bank of Canada; Notice of Application to Engage de novo in Permissible Nonbanking Activities The company listed in this notice has 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. 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 October 26, 1995. A. Federal Reserve Bank of New York (William L. Rutledge, Senior Vice President) 33 Liberty Street, New York, New York 10045: 1. National Bank of Canada, Montreal, Quebec, Canada; to engage de novo through its subsidiary, Levesque Beaubien Geoffrion LTD., New York, New York, in acting as investment or financial advisor to the extent of providing portfolio investment advice and, furnishing general economic information and advice, general economic statistical forecasting services and industry studies, pursuant to Sec. 225.25(b)(4) of the Board's Regulation Y; providing securities brokerage services, related securities credit activities and incidental activities such as offering custodial services as permitted alone or in combination with investment advisory services, pursuant to Sec. 225.25 (b)(15) of the Board's Regulation Y; and underwriting and dealing in obligations of the United States, general obligations of states and their political subdivisions, and other obligations that member banks of the Federal Reserve System may be authorized to underwrite and deal in under 12 U.S.C. 24 and 335, including bankers' acceptances and certificates of deposit, pursuant to Sec. 225.25 (b)(16) of the Board's Regulation Y. These activities will be conducted worldwide. Board of Governors of the Federal Reserve System, October 6, 1995. Jennifer J. Johnson, Deputy Secretary of the Board. [FR Doc. 95-25401 Filed 10-12-95; 8:45 am] BILLING CODE 6210-01-F