[Federal Register Volume 59, Number 77 (Thursday, April 21, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-9603]


[[Page Unknown]]

[Federal Register: April 21, 1994]


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FEDERAL RESERVE SYSTEM
 

The Sumitomo Bank, Limited, 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 May 10, 1994.
    A. Federal Reserve Bank of San Francisco (Kenneth R. Binning, 
Director, Bank Holding Company) 101 Market Street, San Francisco, 
California 94105:
    1. The Sumitomo Bank, Limited, Tokyo, Japan; to engage de novo 
through its majority owned subsidiary Sumitomo Bank Leasing and 
Finance, Inc., in leasing tangible personal property or acting as 
agent, broker, or adviser in leasing such property, in which the lessor 
relies on an estimated residual value of the property (at the 
expiration of the initial term of the lease) in excess of 25 percent, 
pursuant to Sec.  225.25(b)(5)(ii) of the Board's Regulation Y.
    2. The Sumitomo Bank, Limited, Tokyo, Japan; to engage de novo 
through its majority owned subsidiary Sumitomo Bank Leasing and 
Finance, Inc., in providing advice, including rendering fairness 
opinions and providing valuation services, in connection with mergers, 
acquisitions, divestitures, joint ventures, leveraged buyouts, 
recapitalizations, capital structurings, and financing transactions 
(including private and public financings and loan syndications); and 
conducting financial feasibility studies, pursuant to Sec.  
225.25(b)(4)(vi)(A) System April 14, 1994.
Jennifer J. Johnson,
Associate Secretary of the Board.
[FR Doc. 94-9603 Filed 4-20-94; 8:45 am]
BILLING CODE 6210-01-F