[Federal Register Volume 60, Number 148 (Wednesday, August 2, 1995)]
[Pages 39395-39396]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-18936]



Norwest Corporation; Acquisitions of Companies Engaged in 
Permissible Nonbanking Activities

    The organizations listed in this notice have applied under Sec.  
225.23(a)(3) of the Board's Regulation Y (12 CFR 225.23(a)(3)) 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. 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 
August 16, 1995.
    A. Federal Reserve Bank of Minneapolis (James M. Lyon, Vice 
President) 250 Marquette Avenue, Minneapolis, Minnesota 55480:

[[Page 39396]]

    1. Norwest Corporation, Minneapolis, Minnesota, to acquire through 
its subsidiaries, Norwest Financial Special Services, Inc., Des Moines, 
Iowa, and Norwest Financial, Inc., Des Moines, Iowa, Orlandi Valuta, 
Los Angeles, California, and Orlandi Valuta Nacional, Boulder City, 
Nevada, and thereby engage in money transmission activities to foreign 
countries, pursuant to Philippine Commercial International Bank, 77 
Federal Reserve Bulletin 271 (1991).

    Board of Governors of the Federal Reserve System, July 27, 1995.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 95-18936 Filed 8-1-95; 8:45 am]