[Federal Register Volume 59, Number 8 (Wednesday, January 12, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-651]


[[Page Unknown]]

[Federal Register: January 12, 1994]


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FEDERAL RESERVE SYSTEM
 

First National Sylacauga Corporation, et al.; Notice of 
Applications to Engage de novo in Permissible Nonbanking Activities

    The companies listed in this notice have filed an application under 
Sec. 225.23(a)(1) of the Board's Regulation Y (12 CFR 225.23(a)(1)) 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 commence or to engage de novo, either directly or through 
a subsidiary, in a nonbanking activity that is listed in Sec. 225.25 of 
Regulation Y as closely related to banking and permissible for bank 
holding companies. Unless otherwise noted, such activities will be 
conducted throughout the United States.
    Each 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.
    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 31, 1994.
    A. Federal Reserve Bank of Atlanta (Zane R. Kelley, Vice President) 
104 Marietta Street, N.W., Atlanta, Georgia 30303:
    1. First National Sylacauga Corporation, Sylacauga, Alabama; to 
engage de novo through its subsidiary, Frontier Financial Services, 
Inc., Sylacauga, Alabama, in making, acquiring, or servicing loans or 
other extensions of credit pursuant to Sec. 225.25(b)(1) of the Board's 
Regulation Y.
    B. Federal Reserve Bank of Minneapolis (James M. Lyon, Vice 
President) 250 Marquette Avenue, Minneapolis, Minnesota 55480:
    1. First Bank System, Inc., Minneapolis, Minnesota; to engage de 
novo in data processing and data transmission services through the 
ownership, installation, operation, and maintenance of automatic teller 
machines at various retail store locations pursuant to 
Sec. 225.25(b)(7) of the Board's Regulation Y.

    Board of Governors of the Federal Reserve System, January 6, 
1994.
Jennifer J. Johnson,
Associate Secretary of the Board.
[FR Doc. 94-651 Filed 1-11-94; 8:45 am]
BILLING CODE 6210-01-F