[Federal Register Volume 59, Number 113 (Tuesday, June 14, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-14365]


[[Page Unknown]]

[Federal Register: June 14, 1994]


=======================================================================
-----------------------------------------------------------------------

FEDERAL RESERVE SYSTEM

 

Banco Santander, S.A., et al.; Acquisitions of Companies Engaged 
in Permissible Nonbanking Activities

    The organizations listed in this notice have applied under Sec.  
225.23(a)(2) or (f) of the Board's Regulation Y (12 CFR 225.23(a)(2) 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 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 each of these 
applications must be received at the Reserve Bank indicated for the 
application or the offices of the Board of Governors not later than 
June 30, 1994.
    A. Federal Reserve Bank of New York (William L. Rutledge, Senior 
Vice President) 33 Liberty Street, New York, New York 10045:
    1. Banco Santander, S.A., Santander, Spain; to acquire all of the 
voting stock of First Inter-Bancorp, and its subsidiary, Mid-Hudson 
Savings Bank FSB both of Fishkill, New York, and thereby engage in 
operating a savings association pursuant to Sec.  225.25(b)(9) of the 
Board's Regulation Y.
    B. Federal Reserve Bank of St. Louis (Randall C. Sumner, Vice 
President) 411 Locust Street, St. Louis, Missouri 63166:
    1. National Commerce Bancorporation, Memphis, Tennessee; to acquire 
NBC Bank, FSB, Knoxville, Tennessee, and thereby engage in operating a 
federally-chartered savings bank and engage in only those activities 
permitted to federal savings bank subsidiaries of bank holding 
companies pursuant to Sec.  225.25(b)(9) of the Board's Regulation Y. 
Comments on this application must be received by July 8, 1994.

    Board of Governors of the Federal Reserve System, June 8, 1994.
Jennifer J. Johnson,
Associate Secretary of the Board.
[FR Doc. 94-14365 Filed 6-13-94; 8:45 am]
BILLING CODE 6210-01-F