[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]



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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