[Federal Register Volume 60, Number 54 (Tuesday, March 21, 1995)]
[Notices]
[Pages 14941-14942]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-6868]



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FEDERAL RESERVE SYSTEM


Allied Irish Banks, plc, 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 [[Page 14942]] 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 April 4, 1995.
    A. Federal Reserve Bank of Richmond (Lloyd W. Bostian, Jr., Senior 
Vice President) 701 East Byrd Street, Richmond, Virginia 23261:
    1. Allied Irish Banks, plc, Dublin, Ireland, to engage de novo 
through its subsidiary AIB Investment Managers Limited, Dublin, 
Ireland, in providing portfolio investment advice to any other person, 
serving as investment adviser to an investment company, including 
sponsoring, organizing, and managing a closed-end investment company, 
and furnishing general economic information and advice, general 
economic statistical forecasting services and industry studies, 
pursuant to Secs.  225.25(b)(4)(ii), (iii), and (iv) of the Board's 
Regulation Y; providing foreign exchange advisory and transactional 
services, pursuant to Sec.  225.25(b)(17) of the Board's Regulation Y; 
and providing investment advice as a commodity trading advisor for 
institutional and other financially sophisticated customers with 
respect to the purchase and sale of futures contracts and options on 
futures contracts for (1) bullion, foreign exchange, government 
securities, certificates of deposit, and other money market instruments 
that a bank may buy or sell in the cash market for its own account, (2) 
other financial instruments listed on the Board's list entitled 
``Approved Exchanges and Contracts'' (as from time to time revised), 
and (3) other financial instruments which the Federal Reserve Board (or 
a Federal Reserve Bank under delegated authority) may from time to time 
approve for Applicant or for any other bank holding company, pursuant 
to Sec.  225.25(b)(19) of the Board's Regulation Y.
    B. Federal Reserve Bank of Kansas City (John E. Yorke, Senior Vice 
President) 925 Grand Avenue, Kansas City, Missouri 64198:
    1. McCook National Company, McCook, Nebraska; to engage de novo in 
credit related life insurance activities, pursuant to Sec.  
225.25(b)(8)(i) of the Board's Regulation Y.

    Board of Governors of the Federal Reserve System, March 15, 
1995.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 95-6868 Filed 3-20-95; 8:45 am]
BILLING CODE 6210-01-F