[Federal Register Volume 60, Number 71 (Thursday, April 13, 1995)]
[Notices]
[Page 18816]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-9091]



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FEDERAL RESERVE SYSTEM


Signet Banking Corporation, 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 
April 27, 1995.
    A. Federal Reserve Bank of Richmond (Lloyd W. Bostian, Jr., Senior 
Vice President) 701 East Byrd Street, Richmond, Virginia 23261:
    1. Signet Banking Corporation, Richmond, Virginia to acquire 
through its subsidiaries, Virtus Capital Management, Inc.,and Signet 
Financial Services, Inc., both of Richmond, Virginia, Sheffield 
Management Company, New York, New York, and thereby indirectly acquire 
Sheffield Investments, Inc., New York, New York, and thereby engage in 
acting as investment advisor to the Blanchard Group of Funds, pursuant 
to Sec.  225.25(b)(4) of the Board's Regulation Y, and providing 
brokerage, marketing, and related services to the Blanchard Group of 
Funds, pursuant to Sec.  225.25(b)(15) of the Board's Regulation Y, but 
will not serve as distributor for the Blanchard Group of Funds or any 
other mutual fund.
    B. Federal Reserve Bank of Minneapolis (James M. Lyon, Vice 
President) 250 Marquette Avenue, Minneapolis, Minnesota 55480:
    1. Ramsey Financial Corporation, Devils Lake, North Dakota; to 
acquire through its subsidiary, the Rugby, Cavalier, and Bottineau 
branches of Heritage Federal Savings Bank, fsb, Cando, North Dakota, 
First Bank, fsb, Fargo, North Dakota, and thereby engage in operating a 
savings association, pursuant to Sec.  225.25(b)(9) of the Board's 
Regulation Y.

    Board of Governors of the Federal Reserve System, April 7, 1995.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 95-9091 Filed 4-12-95; 8:45 am]
BILLING CODE 6210-01-F