[Federal Register Volume 61, Number 215 (Tuesday, November 5, 1996)] [Notices] [Pages 56961-56962] From the Federal Register Online via the Government Publishing Office [www.gpo.gov] [FR Doc No: 96-28296] ----------------------------------------------------------------------- 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. [[Page 56962]] 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 November 19, 1996. A. Federal Reserve Bank of New York (Christopher J. McCurdy, Senior Vice President) 33 Liberty Street, New York, New York 10045: 1. The Royal Bank of Canada, Montreal, Canada; to engage de novo through an unnamed wholly-owned subsidiary, in the activity of making and servicing loans or other extensions of credit, pursuant to Sec. 225.25(b)(1) of the Board's Regulation Y. 2. Unidanmark A/S and Unibank A/S, both of Copenhagen, Denmark (collectively, Notificants); to retain 100 percent of the voting interests in Aros Securities, Inc., New York, New York (Aros), and thereby engage in providing investment and financial advisory services; providing discount and full-service brokerage services; buying and selling all types of debt and equity securities on the order of customers as a ``riskless principal''; and acting as agent in the private placement of all types of debt and equity securities. The Board previously has determined that the proposed activities are closely related to banking. 12 CFR 225.25(b)(4), and (15); Bankers Trust New York Corporation, 75 Fed. Res. Bull. 829 (1989); J.P. Morgan & Company Incorporated, 76 Fed. Res. Bull. 26 (1990); see also Order Revising the Limitations Applicable to Riskless Principal Activities, 82 Fed. Res. Bull. 759 (1996). Notificants would engage in the proposed activities pursuant to the limitations contained in Regulation Y and the Board's prior orders relating to the proposed activities. Aros would engage in the proposed activities throughout the United States and the world. B. Federal Reserve Bank of Minneapolis (Karen L. Grandstrand, Vice President) 250 Marquette Avenue, Minneapolis, Minnesota 55480: 1. Cattail Bancshares, Inc., Atwater, Minnesota; to engage de novo in making and servicing loans, pursuant to Sec. 225.25(b)(1) of the Board's Regulation Y. These activities will be conducted throughout Atwater, Kimball, and St. Augusta Township and other surrounding communities (all in Minnesota). Board of Governors of the Federal Reserve System, October 30, 1996. Jennifer J. Johnson, Deputy Secretary of the Board. [FR Doc. 96-28296 Filed 11-4-96; 8:45 am] BILLING CODE 6210-01-F