[Federal Register Volume 59, Number 158 (Wednesday, August 17, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-20155]


[[Page Unknown]]

[Federal Register: August 17, 1994]


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FEDERAL RESERVE SYSTEM
 

NationsBank Corporation; Notice of Application to Engage De Novo 
in Nonbanking Activities

    NationsBank Corporation, Charlotte, North Carolina (``Applicant''), 
has applied, pursuant to section 4(c)(8) of the Bank Holding Company 
Act (12 U.S.C. Sec.  1843(c)(8)) (the ``BHC Act'') and Sec.  225.23 of 
the Board's Regulation Y (12 CFR 225.23), to engage de novo through its 
wholly owned subsidiaries, NationsBanc-CRT Services, Incorporated, 
Chicago, Illinois, and NationsBanc-CRT Energy (U.K.) Limited, London, 
England (collectively, ``Companies''), in the following activities:
    (1) providing futures commission merchant (``FCM'') execution, 
clearance and advisory services to affiliated and unaffiliated 
customers with respect to futures and options on futures contracts on 
financial instruments and financial commodities on stock and bond 
indexes that have been previously approved by the Board, and on 
exchanges previously approved by the Board, pursuant to Secs.  
225.25(b)(18) and (b)(19) of the Board's Regulation Y and SR Letter No. 
93027 (FIS) (May 21, 1993);
    (2) providing FCM execution, clearance, and advisory services to 
affiliated and unaffiliated customers with respect to futures and 
options on futures contracts on non-financial commodities that have 
been previously approved by the Board, and on exchanges previously 
approved by the Board, as well as futures and options on futures 
contracts on certain non-financial contracts on an exchange that the 
Board has not previously approved for bank holding companies, in 
accordance with J.P. Morgan & Co., Inc., 80 Federal Reserve Bulletin 
151 (1994), Caisse Nationale de Credit Agricole, 80 Federal Reserve 
Bulletin 552 (1994); and Bank of Montreal, 79 Federal Reserve Bulletin 
1049 (1993); and
    (3) providing discount and full service brokerage services and 
related securities credit services, and conducting incidental 
activities thereto, to institutional customers, and conducting 
incidental activities thereto, pursuant to Sec.  225.25(b)(15) of the 
Board's Regulation Y.
    The exchange and futures and options on futures contracts with 
respect to which Applicant proposes to provide FCM services, which the 
Board has not previously approved, include the International Petroleum 
Exchange, London, England, and the following contracts traded thereon: 
Brent crude oil futures, Options on Brent crude oil futures, gas oil 
futures, options on gas oil futures, and unleaded gasoline futures. 
These activities will be conducted on a worldwide basis.
    Any comments or requests for a hearing should be submitted in 
writing and received by William W. Wiles, Secretary, Board of Governors 
of the Federal Reserve System, Washington, DC 20551, not later than 
August 31, 1994. Any request for a hearing on this application must, as 
required by Sec.  262.3(e) of the Board's Rules of Procedure (12 CFR 
262.3(e)), be accompanied by a statement of the reasons why 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.
    This application may be inspected at the offices of the Board of 
Governors or the Federal Reserve Bank of Richmond.

    Board of Governors of the Federal Reserve System, August 11, 
1994.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 94-20155 Filed 8-16-94; 8:45 am]
BILLING CODE 6210-01-F