[Federal Register Volume 63, Number 199 (Thursday, October 15, 1998)]
[Notices]
[Page 55390]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-27635]
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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, including the
companies listed below, that engages either directly or through a
subsidiary or other company, in a nonbanking activity that is listed in
Sec. 225.28 of Regulation Y (12 CFR 225.28) 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. The notice also will 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 October 28, 1998.
A. Federal Reserve Bank of Boston (Richard Walker, Community
Affairs Officer) 600 Atlantic Avenue, Boston, Massachusetts 02106-2204:
1. Machias Bancorp, MHC, and Machias Bancorp, Inc., both of
Machias, Maine; to acquire M&M Consulting, LLC, Bangor, Maine, and
thereby engage in consulting services to a number of financial
institutions, pursuant to Sec. 225.28(b)(9) of Regulation Y.
B. Federal Reserve Bank of San Francisco (Maria Villanueva, Manager
of Analytical Support, Consumer Regulation Group) 101 Market Street,
San Francisco, California 94105-1579:
1. Banque Nationale de Paris, Paris, France; to engage de novo
through its subsidiary, BNP Capital Markets, LLC, New York, New York,
in underwriting and dealing to a limited extent in all types of debt
securities (including, without limitation, corporate debt securities,
sovereign debt securities, and debt securities convertible into equity
securities) and equity securities (including, without limitation,
common stock, preferred stock, American Depositary Receipts, Global
Depository Receipts, securities convertible into equity securities and
options, other direct and indirect equity ownership interests in
corporations and other entities, warrants and other rights issued in
connection with the above securities, and other rights issued by close-
end investment companies, but not including ownership interests in
open-end investment companies); See e.g. Societe Generale, 84 Fed. Res.
Bull. 680 (1998); in underwriting and dealing in bank-eligible
securities, pursuant to Sec. 225.28(b)(8)(i) of Regulation Y; in
acting as private placement agent, pursuant to Sec. 225.28(b)(7)(iii)
of Regulation Y; in acting as a riskless principal, pursuant to Sec.
225.28(b)(7)(ii) of Regulation Y; in acting as investment or financial
advisor to any person, pursuant to Sec. 225.28(b)(6) of Regulation Y;
in brokerage activities, pursuant to Sec. 225.28(b)(7)(i) of
Regulation Y; in providing transactional services as agent with respect
to a broad range of foreign exchange and derivatives instruments,
pursuant to Sec. 225.28(b)(7)(v) of Regulation Y; in acting as
principal in foreign exchange and certain derivatives transactions,
pursuant to Sec. 225.28(b)(8)(ii) of Regulation Y; in making,
acquiring, brokering or servicing loans or other extensions of credit,
pursuant to Sec. 225.28(b)(1) of Regulation Y; in asset management,
servicing and collection of assets of a type that an insured depository
institution may originate and own, pursuant to Sec. 225.28(b)(2)(vi)
of Regulation Y; and acquiring debt that is in default at the time of
acquisition, pursuant to Sec. 225.28(b)(2)(vii) of Regulation Y.
Board of Governors of the Federal Reserve System, October 8,
1998.
Robert deV. Frierson,
Associate Secretary of the Board.
[FR Doc. 98-27635 Filed 10-14-98; 8:45 am]
BILLING CODE 6210-01-F