[Federal Register Volume 62, Number 48 (Wednesday, March 12, 1997)] [Notices] [Page 11455] From the Federal Register Online via the Government Publishing Office [www.gpo.gov] [FR Doc No: 97-6165] ----------------------------------------------------------------------- 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. 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 March 26, 1997. A. Federal Reserve Bank of New York (Christopher J. McCurdy, Senior Vice President) 33 Liberty Street, New York, New York 10045-0001: 1. Lloyds TSB Group PLC and Lloyds Bank PLC, both of London, England; to retain indirectly all the voting shares of IAI Holdings Inc., and its subsidiaries, including Investment Advisers, Inc., IAI Securities, Inc., IAI Trust Company, IAI Ventures, Inc., and Itasca Ventures, LLC, all of Minneapolis, Minnesota, and thereby engage in the following nonbanking activities: (i) performing functions or activities that may be conducted by a trust company, pursuant to 12 CFR 225.25(b)(3) of the Board's Regulation Y; (ii) providing investment advisory services, pursuant to 12 CFR 225.25(b)(4) of the Board's Regulation Y; (iii) providing full-service brokerage services, pursuant to 12 CFR 225.25(b)(15) of the Board's Regulation Y; (iv) providing foreign exchange execution and advisory services Banco Commerciale Italiano S.p.A., 76 Fed. Res. Bull. 649 (1990); (v) providing advice on futures contracts and options on futures contracts based on certain financial commodities, pursuant to 12 CFR 225.25(b)(19) of the Board's Regulation Y; Caisse Nationale de Credit Agricole, S.A., 82 Fed. Res. Bull. 754 (1996); Security Pacific Corporation, 74 Fed. Res. Bull. 820 (1988); and providing investment advisory and administrative services to open-end investment companies (``mutual funds'') Mellon Bank Corporation, 79 Fed. Res. Bull. 626 (1993); Bank of Ireland, 82 Fed. Res. Bull. 1129 (1996). Notificants would engage in these activities in accordance with the limitations and conditions previously established by the Board by regulation or order, with certain exceptions relating to the proposed provision of advisory and administrative services to mutual funds that are discussed in the notice. Board of Governors of the Federal Reserve System, March 6, 1997. William W. Wiles, Secretary of the Board. [FR Doc. 97-6165 Filed 3-11-97; 8:45 am] BILLING CODE 6210-01-F