[Federal Register Volume 61, Number 181 (Tuesday, September 17, 1996)]
[Notices]
[Page 48957]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-23730]
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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 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 October 1, 1996.
A. Federal Reserve Bank of Boston (Robert M. Brady, Vice President)
600 Atlantic Avenue, Boston, Massachusetts 02106:
1. The Royal Bank of Scotland Group plc , Edinburgh, Scotland, The
Royal Bank of Scotland plc, Edinburgh, Scotland, The Governor and
Company of the Bank of Ireland, Dublin, Ireland, and Citizens Financial
Group, Inc., Providence, Rhode Island; to engage de novo through their
subsidiary, Citizens Capital, Inc., Boston, Massachusetts (tentative
name), in commercial lending activities, pursuant to Sec. 225.25(b)(1)
of the Board's Regulation Y.
B. Federal Reserve Bank of Atlanta (Zane R. Kelley, Vice President)
104 Marietta Street, N.W., Atlanta, Georgia 30303:
1. The Colonial BancGroup, Inc., Montgomery, Alabama; to acquire
First Family Financial Corporation, Eustis, Florida, and thereby
indirectly acquire First Family Bank, FSB, Eustis, Florida, and thereby
engage in operating a savings association, pursuant to Sec.
225.25(b)(9) of the Board's Regulation Y. These activities will be
performed throughout the State of Florida.
C. Federal Reserve Bank of Chicago (James A. Bluemle, Vice
President) 230 South LaSalle Street, Chicago, Illinois 60690:
1. Brunsville Bancorporation, Inc., Brunsville, Iowa; to engage de
novo in acting as an insurance agent and selling all types of
insurance, pursuant to Secs. 225.25(b)(8)iii and 225.25(b)(8)vi of the
Board's Regulation Y.
2. Merrill Bancorporation, Inc., Merrill, Iowa; to engage de novo
in acting as an insurance agenct and selling all types of insurance,
pursuant to Secs. 225.25(b)(8)iii and 225.25(b)(8)vi of the Board's
Regulation Y.
D. Federal Reserve Bank of Minneapolis (Karen L. Grandstrand, Vice
President) 250 Marquette Avenue, Minneapolis, Minnesota 55480:
1. Norwest Corporation, Minneapolis, Minnesota, Norwest Financial
Services, Inc., Des Moines, Iowa, and Norwest Financial, Inc., Des
Moines, Iowa; to engage de novo through their subsidiary, Norwest
Financial Maine, Inc., Des Moines, Iowa, in making, acquiring, or
servicing loans or other extensions of credit relating to consumer
finance, sales finance, and commercial finance (including but not
limited to accounts receivable financing, factoring, and other secured
lending activities), pursuant to Sec. 225.25(b)(1) of the Board's
Regulation Y; in underwriting and sale of credit life insurance,
pursuant to Secs. 225.25(b)(8)(i) and (vii) of the Board's Regulation
Y; in the sale, on an agency basis, of credit accident and health
insurance, credit property and casualty, and involuntary unemployment
insurance, pursuant to Sec. 225.25(b)(8)(vii) of the Board's
Regulation Y; in the issuance and sale at retail of money orders and
travelers checks, pursuant to Sec. 225.25(b)(12) of the Board's
Regulation Y; in the servicing of loans and other extensions of credit
for other persons, pursuant to Sec. 225.25(b)(1) of the Board's
Regulation Y; in offering and selling of bookkeeping, payroll, and
other management reporting services and data processing services,
pursuant to Sec. 225.25(b)(7) of the Board's Regulation Y. These
activities will be conducted throughout the State of Maine.
Board of Governors of the Federal Reserve System, September 11,
1996.
Jennifer J. Johnson
Deputy Secretary of the Board
[FR Doc. 96-23730 Filed 9-16-96; 8:45 am]
BILLING CODE 6210-01-F