[Federal Register Volume 59, Number 97 (Friday, May 20, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-12373]


[[Page Unknown]]

[Federal Register: May 20, 1994]


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FEDERAL RESERVE SYSTEM
 

SunTrust Banks, Inc.; Acquisition of Company Engaged in 
Nonbanking Activities

    The organization listed in this notice has applied under Secs.  
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 
June 6, 1994.
    A. Federal Reserve Bank of Atlanta (Zane R. Kelley, Vice President) 
104 Marietta Street, NW., Atlanta, Georgia 30303:
    1. SunTrust Banks, Inc., Atlanta, Georgia; to engage de novo 
through a wholly owned subsidiary SunTrust Capital Markets, Inc., 
Atlanta, Georgia, in making, servicing, or acquiring loans or other 
extensions of credit, in acting as an investment or financial advisor, 
in leasing personal or real property, in arranging commercial real 
estate equity financing, in providing securities brokerage services, 
and in underwriting and dealing in government obligations and money 
market instruments, pursuant to Secs.  225.25(b)(1), (4), (5), (14), 
(15), and (16) of the Board's Regulation Y, respectively.
    In addition, Applicant proposes to engage, through Company, in 
certain nonbank activities that have been approved by Board Order, but 
have not yet been added to the laundry list of permissible nonbank 
activities. Applicant proposes to engage in the private placement of 
all types of debt and equity securities, see Bankers Trust New York 
Corporation, 75 Federal Reserve Bulletin 829 (1989) (Bankers Trust); 
J.P. Morgan & Company Incorporated, 76 Federal Reserve Bulletin 26 
(1990) (J.P. Morgan); to buy and sell all types of debt and equity 
securities on the order of customers as a riskless principal, see 
Bankers Trust and J.P. Morgan; and to underwrite and deal in municipal 
revenue bonds, mortgage-related securities, consumer-receivable related 
securities and commercial paper, see Citicorp, J.P. Morgan & Company 
Incorporated and Bankers Trust New York Corporation, 73 Federal Reserve 
Bulletin 473 (1987); Chemical New York Corporation et al, 73 Federal 
Reserve Bulletin 731 (1987); as modified by Order Approving 
Modification to Section 20 Orders, 75 Federal Reserve Bulletin 751 
(1989).

    Board of Governors of the Federal Reserve System, May 16, 1994.
Jennifer J. Johnson,
Associate Secretary of the Board.
[FR Doc. 94-12373 Filed 5-19-94; 8:45 am]
BILLING CODE 6210-01-F