[Federal Register Volume 60, Number 156 (Monday, August 14, 1995)]
[Notices]
[Pages 41890-41891]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-19985]



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FEDERAL RESERVE SYSTEM

401 K Plan and ESOP of United States Trust Company of New York 
and Affiliated Companies; Formation of, Acquisition by, or Merger of 
Bank Holding Companies; and Acquisition of Nonbanking Company

    The company listed in this notice has applied under Sec.  225.14 of 
the Board's Regulation Y (12 CFR 225.14) for the Board's approval under 
section 3 of the Bank Holding Company Act (12 U.S.C. 1842) to become a 
bank holding company or to acquire voting securities of a bank or bank 
holding company. The listed company has also applied under Sec.  
225.23(a)(2) of Regulation Y (12 CFR 225.23(a)(2)) 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, or to engage in such an activity. Unless otherwise 
noted, these activities will be conducted throughout the United States.
    The 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 

[[Page 41891]]
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.
    Comments regarding the application must be received at the Reserve 
Bank indicated or the offices of the Board of Governors not later than 
September 7, 1995.
    A. Federal Reserve Bank of New York (William L. Rutledge, Senior 
Vice President) 33 Liberty Street, New York, New York 10045:
    1. 401 K Plan and ESOP of United States Trust Company of New York 
New York, New York; to become a bank holding company by acquiring 
between 25 and 35 percent of the voting shares of New USTC Holdings 
Corporation, New York, New York (``New Holdings''), and thereby 
indirectly acquire New U.S. Trust Company of New York, New York, New 
York; U.S. Trust Company of Texas, N.A., Dallas, Texas; and U.S. Trust 
Company of California, N.A., Los Angeles, California.
    In connection with this application, Applicant also has applied to 
acquire U.S. Trust Company of Florida Savings Bank, Palm Beach, 
Florida, and thereby engage in trust company, investment and financial 
advisory, community development, and savings association operations 
activities, pursuant to Secs.  225.25(b)(3), (4), (6), and (9), of the 
Board's Regulation Y; [2] through CTMC Holding Company and its wholly-
owned subsidiaries, U.S. Trust Company of the Pacific Northwest, and 
CTC Consulting, all of Portland, Oregon, in trust company, and 
investment and financial advisory activities pursuant to Secs.  
225.25(b)(3) and (4) of the Board's Regulation Y, respectively, [3] 
through Campbell, Cowperthwait & Co., Inc., New York, New York, in 
investment or financial advice pursuant to Sec.  225.25(b)(4) of the 
Board's Regulation Y, [4] through U.S. Trust Company of New Jersey and 
its wholly-owned subsidiary, U.S.T. Securities Corp., both of 
Princeton, New Jersey, in trust company, investment and financial 
advisory, securities brokerage, and riskless principal activities 
pursuant to Secs.  225.25(b)(3), (4), (15) of the Board's Regulation Y 
and previous Board order (U.S. Trust Corporation, 78 Federal Reserve 
Bulletin 336, (1992)), respectively, and [5] through U.S. Trust Company 
of Connecticut, Stamford, Connecticut, in trust company and investment 
and financial advisory activities pursuant to Secs.  225.25(b)(3) and 
(4) of the Board's Regulation Y.

    Board of Governors of the Federal Reserve System, August 8, 
1995.
William W. Wiles,
Secretary of the Board.
[FR Doc. 95-19985 Filed 8-11-95; 8:45 am]
BILLING CODE 6210-01-F