[Federal Register Volume 59, Number 94 (Tuesday, May 17, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-11934]


[[Page Unknown]]

[Federal Register: May 17, 1994]


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FEDERAL FINANCIAL INSTITUTIONS EXAMINATION COUNCIL
 

Fleet Financial Group, Inc.; 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 June 6, 1994.
    A. Federal Reserve Bank of Boston (Robert M. Brady, Vice President) 
600 Atlantic Avenue, Boston, Massachusetts 02106:
    1. Fleet Financial Group, Inc., Providence, Rhode Island to expand  
de novo the activities of its subsidiary Fleet Management and Recovery 
Corporation, Boston, Massachusetts in asset management, servicing and 
collection activities to include Canada; investment or financial 
advice; acting as agent, broker or adviser in certain leasing 
transactions involving real and personal property; performing 
appraisals of real estate and tangible and intangible personal 
property; and arranging commercial real estate equity financing 
throughout the Uniteded States and Canada, pursuant to Secs.  
225.25(b)(1) and (b)(13) of the Board's Regulation Y and the approval 
of November 4, 1993. Comments. on this application must be received by 
may 31, 1994.
    B. Federal Reserve Bank of Chicago (James A. Bluemle, Vice 
President) 230 South LaSalle Street, Chicago, Illinois 60690:
    1. First Midwest Corporation of Delaware, Melrose Park, Illinois to 
engage  de novo through its subsidiary Midwest One Mortgage Services, 
Inc., Melrose Park, Illinois in originating, processing, brokering and 
servicing 1-4 family residential mortgages pursuant to Sec.  
225.25(b)(1) of the Board's Regulation Y. The activities will be 
conducted in the greater Chicago area including Cook Lake, Will, DuPage 
and McHenry Countries.
    C. Federal Reserve Bank of Chicago (James A. Bluemle, Vice 
President) 230 South LaSalle Street, Chicago, Illinois 60690:
    1. First of America Bank Corporation, Kalamazoo, Michigan; to 
engage de novo in providing securities brokerage services in 
combination with investment advisory services; providing financial 
advice to state and local governments; and underwriting and dealing in 
government obligations and money market instruments pursuant to Secs.  
225.25(b)(15), (b)(4)(v) and (b)(16), respectively of the Board's 
Regulation Y.

    Board of Governors of the Federal Reserve System, May 11, 1994.
William W. Wiles,
Secretary of the Board.
[FR Doc. 94-11934 Filed 5-16-94; 8:45 am]
BILLING CODE 6210-01-F