[Federal Register Volume 59, Number 130 (Friday, July 8, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-16548]


[[Page Unknown]]

[Federal Register: July 8, 1994]


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FEDERAL RESERVE SYSTEM
 

Saban, S.A., 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 July 27, 1994.
    A. Federal Reserve Bank of New York (William L. Rutledge, Senior 
Vice President) 33 Liberty Street, New York, New York 10045:
    1. Saban S.A., Panama City, Panama, to engage de novo through its 
subsidiaries RNYC Holdings Limited, Marina Bay, Gibraltar, and Republic 
New York Corporation, New York, New York, in providing investment 
advice, including counsel, publications, written analyses and reports, 
as a futures commission merchant authorized pursuant to Sec.  
225.25(b)(18) of the Board's Regulation Y. As a commodity trading 
advisor registered with the Commodity Futures Trading Commission, with 
respect to the purchase and sale of futures contracts and options on 
futures contracts for the commodities and instruments referred to in 12 
CFR 225.25(b)(18) of the Board's Regulation Y or in the Board's SR 93-
27. These activities will be conducted on a worldwide basis.
    B. Federal Reserve Bank of Chicago (James A. Bluemle, Vice 
President) 230 South LaSalle Street, Chicago, Illinois 60690:
    1. Security National Corporation, Sioux City, Iowa, to engage de 
novo in making and servicing loans pursuant to Sec.  225.25(b)(1) of 
the Board's Regulation Y.

    Board of Governors of the Federal Reserve System, July 1, 1994.
Jennifer J. Johnson,
Associate Secretary of the Board.
[FR Doc. 94-16548 Filed 7-7-94; 8:45 am]
BILLING CODE 6210-01-F