[Federal Register Volume 60, Number 149 (Thursday, August 3, 1995)]
[Notices]
[Pages 39740-39741]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-19105]



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FEDERAL RESERVE SYSTEM

Notice of Public Meeting

AGENCY: Board of Governors of the Federal Reserve System.

[[Page 39741]]

ACTION: Notice of Meeting

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SUMMARY: The Federal Reserve Board is announcing a series of public 
meeting in connection with the application of Fleet Financial Group 
Inc., Providence, Rhode Island, to acquire Shawmut National 
Corporation, Boston, Massachusetts, and Hartford, Connecticut, pursuant 
to sections 3 and 4 of the Bank Holding Company Act of 1956.
FOR FURTHER INFORMATION CONTACT: Diane A. Koonjy, Senior Attorney, 
Legal Division (202-452-3274), or Patricia A. Robinson, Attorney, Legal 
Division (202-452-3005), or Kathleen Conley, Review Examiner, Division 
of Consumer and Community Affairs (202-452-2389), Board of Governors of 
the Federal Reserve System, Washington, D.C. 20551. For the hearing 
impaired only, Telecommunication Device for the Deaf (TDD), Dorthea 
Thompson (202-452-3344), Board of Governors of the Federal Reserve 
System, 20th and C Streets, N.W., Washington, D.C. 20551.
SUPPLEMENTARY INFORMATION:
Background and Public Meeting Notice
    On July 7, 1995, Fleet Financial Group, Inc., Providence, Rhode 
Island (Fleet), applied pursuant to sections 3 and 4 of the Bank 
Holding Company Act (12 U.S.C. Secs.  1842, 1843)(BHC Act) to acquire 
Shawmut National Corporation, Boston, Massachusetts, and Hartford, 
Connecticut (Shawmut), and thereby acquire the banking and nonbanking 
subsidiaries of Shawmut. Under authority delegated by the Board of 
Governors of the Federal Reserve System (Board) in section 265.6(a)(2) 
of the Board's Rules, the General Counsel of the Board hereby orders 
that public meetings on the applications be held in Boston, 
Massachusetts; Hartford, Connecticut, and Albany, New York, beginning 
August 26, 1995, to collect information on the convenience and needs of 
the communities to be served by this proposal, including the records of 
performance of these institutions under the Community Reinvestment Act 
(CRA).
    The public meetings well be held at the following locations:
    Boston-Saturday, August 26, 1995, at the Federal Reserve Bank of 
Boston, 600 Atlantic Avenue, Boston, Massachusetts 02106. The meeting 
will begin at 9:00 a.m.
    Hartford-Monday, August 28, at the Wild Auditorium, Gray Conference 
Center, University of Hartford, 200 Bloomfield Avenue, West Hartford, 
Connecticut 06117. The meeting will begin at 12:00 noon, E.D.T.
    Albany-Tuesday, August 29, at the New York State Museum, Museum 
Theater, West Gallery, Cultural Education Center, Empire State Plaza, 
Madison Avenue, Albany, New York 12230. The meeting will begin at 12:00 
noon, E.D.T.
    To accommodate interested persons, the public meetings in Hartford, 
Connecticut, and Albany, New York, will include evening hours scheduled 
for testimony.
Purpose and Procedures
    The purpose of the public meetings is to receive information 
regarding the convenience and needs of the communities to be served by 
this proposal, including the records of performance of Fleet and 
Shawmut under the CRA. The CRA requires the appropriate federal 
financial supervisory agency to ``assess [an] institution's record of 
meeting the credit needs of its entire community, including low- and 
moderate-income neighborhoods, consistent with the safe and sound 
operation of [the] institution.'' 12 U.S.C. Sec.  2903. The Board, as a 
federal financial supervisory agency, is required to take this record 
into account in its evaluation of an application under section 3 of the 
BHC Act.
    The public meetings are convened under the Board's policy statement 
regarding informal meetings in section 262.25(d) of the Board's Rules 
(12 C.F.R. 225.25(d)). This policy statement provides that the purpose 
of a public meeting is to elicit information, to clarify factual issues 
related to an application, and to provide testimony. In contrast to a 
formal administrative hearing, the rules for taking evidence in an 
administrative proceeding will not apply to these public meetings. 
Testimony at the public meetings will be presented to a panel 
consisting of a Presiding Officer, Griffith L. Garwood, Director of the 
Board's Division of Consumer and Community Affairs, or his designee, 
and other panel members appointed by the Presiding Officer. These panel 
members may question witnesses, but no cross-examination of witnesses 
will be permitted.
     In conducting each public meeting, the Presiding Officer will have 
the authority and discretion to ensure that the meeting proceeds in a 
fair and orderly manner. The public meetings will be transcribed and 
information regarding procedures for obtaining a copy of the 
transcripts will be announced at the public meetings.
    All persons wishing to testify at the public meetings should submit 
a written request to William W. Wiles, Secretary of the Board, Board of 
Governors of the Federal Reserve System, 20th Street and Constitution 
Avenue, N.W., Washington, D.C. 20551 (facsimile: 202-452-3819), not 
later than August 16, 1995, providing the following information:
    (i) identification of which meeting they wish to attend,
    (ii) a brief statement of the nature of the expected testimony and 
the estimated time required for the presentation,
    (iii) address and telephone number (and facsimile number, if 
available), and
    (iv) identification of any special needs, such as persons desiring 
translation services, persons with a physical disability who may need 
assistance, or persons using visual aids for their presentation. To the 
extent available, translators will be provided to persons wishing to 
present their views in a language other than English if they include 
this information in their request to testify.
Persons interested only in attending a meeting do not need to submit a 
written request to attend.
    On the basis of the requests received, the Presiding Officer will 
prepare a schedule for persons wishing to testify. Persons not listed 
on the schedule may be permitted to speak at the public meetings at the 
discretion of the Presiding Officer if time permits at the conclusion 
of the schedule of witnesses. Copies of testimony may, but need not, be 
filed with the Presiding Officer before a person's presentation.

    By order of the General Counsel of the Board of Governors, 
acting pursuant to authority delegated by the Board of Governors, 
effective, July 27, 1995.
William W. Wiles,
Secretary of the Board.
[FR Doc. 95-19105 Filed 8-2-95; 8:45am]
BILLING CODE 6210-01-F