[Federal Register Volume 60, Number 105 (Thursday, June 1, 1995)]
[Notices]
[Pages 28613-28614]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-13359]



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FEDERAL RESERVE SYSTEM


Cooperatieve Centrale Raiffeisen-Boerenleenbank B.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 the Board has 
determined is 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 
[[Page 28614]] 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 June 14, 1995.
    A. Federal Reserve Bank of New York (William L. Rutledge, Senior 
Vice President) 33 Liberty Street, New York, New York 10045:
    1. Cooperatieve Centrale Raiffeisen-Boerenleenbank B.A., Rabobank 
Nederland, Utrecht, The Netherlands (Notificant), to engage de novo 
through its subsidiary, Rabo Capital Services, Inc., New York, New York 
(Company), in intermediating in the international swap markets by 
acting as an originator and principal in interest rate swap and 
currency swap transactions; acting as an originator and principal with 
respect to certain risk-management products such as caps, floors and 
collars, as well as options on swaps, caps, floors and collars (Swap 
Derivative Products); acting as a broker or agent with respect to the 
foregoing transactions and instruments; and acting as an advisor to 
institutional customers regarding financial strategies involving 
interest rate and currency swaps and Swap Derivative Products. See 
Long-Term Credit Bank of Japan, Limited, 79 Federal Reserve Bulletin 
345 (1993). Notificant proposes that Company engage in these activities 
throughout the world.
    B. Federal Reserve Bank of Richmond (Lloyd W. Bostian, Jr., Senior 
Vice President) 701 East Byrd Street, Richmond, Virginia 23261:
    1. First Mariner Bancorp, Towson, Maryland; to engage de novo 
through its subsidiary, First Mariner Mortgage Corporation, Baltimore, 
Maryland, and thereby engage in originating, funding, brokering, 
servicing, selling and otherwise dealing in mortgages, pursuant to 
Sec.  225.25(b)(1) of the Board's Regulation Y.
    C. Federal Reserve Bank of Chicago (James A. Bluemle, Vice 
President) 230 South LaSalle Street, Chicago, Illinois 60690:
    1. State Banco, Ltd., Spirit Lake, Iowa; to engage de novo through 
its subsidiary, Parent Company of State Banco, Ltd., Spirit Lake, Iowa, 
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, May 25, 1995.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 95-13359 Filed 5-31-95; 8:45 am]
BILLING CODE 6210-01-F