[Federal Register Volume 62, Number 5 (Wednesday, January 8, 1997)] [Notices] [Page 1118] From the Federal Register Online via the Government Publishing Office [www.gpo.gov] [FR Doc No: 97-368] ----------------------------------------------------------------------- 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 January 23, 1997. A. Federal Reserve Bank of New York (Christopher J. McCurdy, Senior Vice President) 33 Liberty Street, New York, New York 10045: 1. The Bank of New York Company, Inc., New York, New York; to engage through its subsidiary, BNY Capital Markets, Inc., New York, New York, in underwriting and dealing in debt and equity securities of all types, other than shares of open-end investment companies. See Canadian Imperial Bank of Commerce, 76 Fed. Res. Bull. 158 (1990); J. P. Morgan & Co. Incorporated, 75 Fed. Res. Bull. 192 (1989), aff'd sub nom. Securities Industries Ass'n v. Board of Governors of the Federal Reserve System, 900 F.2d 360 (D.C. Cir. 1990); and Citicorp, 73 Fed. Res. Bull. 473 (1987), aff'd sub nom. Securities Industry Ass'n v. Board of Governors of the Federal Reserve System, 839 F.2d 47 (2d Cir.), cert. denied, 486 U.S. 1059 (1988). 2. The Toronto-Dominion Bank, Toronto, Canada and Waterhouse Investor Services, Inc., New York, New York; to acquire 50 percent of the voting shares of Marketware International, Inc., and thereby engage in providing data processing and data transmission services, pursuant to Sec. 225.25(b)(7) of the Board's Regulation Y. B. Federal Reserve Bank of Minneapolis (Karen L. Grandstrand, Vice President) 250 Marquette Avenue, Minneapolis, Minnesota 55480: 1. Norwest Corporation, Minneapolis Minnesota; to acquire Statewide Mortgage Company, Birmingham, Alabama, and thereby engage in the purchase, origination, and sale of mortgage loans and related servicing rights, pursuant to Sec. 225.25(b)(1) of the Board's Regulation Y. Board of Governors of the Federal Reserve System, January 2, 1997. Jennifer J. Johnson, Deputy Secretary of the Board. [FR Doc. 97-368 Filed 1-7-97; 8:45 am] BILLING CODE 6210-01-F