[Federal Register Volume 59, Number 4 (Thursday, January 6, 1994)]
[Notices]
[Pages 749-750]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-216]


[[Page Unknown]]

[Federal Register: January 6, 1994]


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FEDERAL RESERVE SYSTEM
 

Norwest Corporation; Acquisition of Company Engaged in Nonbanking 
Activities

    The organization listed in this notice has applied under Sec.  
225.23(a) or (f) of the Board's Regulation Y (12 CFR 225.23(a) or (f)) 
for the Board's approval under section 4(c)(8) of the Bank Holding 
Company Act (12 U.S.C. 1843(c)(8)) and Sec.  225.21(a) of Regulation Y 
(12 CFR 225.21(a)) to acquire or control voting securities or assets of 
a company engaged in a nonbanking activity. Unless otherwise noted, 
such activities will be conducted throughout the United States.
    The application is available for immediate inspection at the 
Federal Reserve Bank indicated. Once the application 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 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.'' 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.
    Comments regarding the application must be received at the Reserve 
Bank indicated or the offices of the Board of Governors not later than 
January 31, 1994.
    A. Federal Reserve Bank of Minneapolis (James M. Lyon, Vice 
President) 250 Marquette Avenue, Minneapolis, Minnesota 55480:
    1. Norwest Corporation, Minneapolis, Minnesota, and Norwest 
Investment Services, Inc., Minneapolis, Minnesota; to acquire FN 
Investment Center, Phoenix, Arizona, and thereby engage in securities 
brokerage activities pursuant to Sec.  225.25(b)(15) of the Board's 
Regulation Y, including private placement, limited underwriting, 
precious metal brokerage, riskless pincipal and leasing activities 
pursuant to Norwest Corp., 76 Federal Reserve Bulletin 79 (1990).

    Board of Governors of the Federal Reserve System, December 30, 
1993.
Jennifer J. Johnson,
Associate Secretary of the Board.
[FR Doc. 94-216 Filed 1-5-94; 8:45 am]
BILLING CODE 6210-01-F