[Federal Register Volume 60, Number 158 (Wednesday, August 16, 1995)]
[Notices]
[Pages 42568-42569]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-20232]



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FEDERAL RESERVE SYSTEM


First Union Corporation; NationsBank Corporation; Southern 
National Corporation; and Wachovia Corporation; Notice to Engage in 
Certain Nonbanking Activities

    First Union Corporation, Charlotte, North Carolina; NationsBank 
Corporation, Charlotte, North Carolina; Southern National Corporation, 
Winston-Salem, North Carolina; and Wachovia Corporation, Winston-Salem, 
North Carolina (collectively, Notificants), have given notice pursuant 
to section 4(c)(8) of the Bank Holding Company Act (12 U.S.C. 
1843(c)(8)) (BHC Act) and Sec.  225.23 of the Board's Regulation Y (12 
CFR 225.23), of their intention to acquire 15.252 percent, 18.293 
percent, 12.889 percent, and 17.242 percent, respectively, of Education 
Financing Services, LLC, Winston-Salem, North Carolina (EFS). Through 
EFS, Notificants will provide development, management, software, 
marketing, and training services to the North Carolina State Education 
Assistance Authority, the North Carolina State Treasurer's office, and 
the College Foundation, Inc. in connection with the administration of 
the College Vision Fund, a program designed to assist North Carolina 
families in financing the higher education of their children. This 
activity will be conducted in North Carolina.
    Section 4(c)(8) of the BHC Act provides that a bank holding company 
may, with Board approval, engage in any activity ``which the Board 
after due notice and opportunity for hearing has determined (by order 
or regulation) to be so closely related to banking or managing or 
controlling banks as to be a proper incident thereto.'' 12 U.S.C. 
1843(c)(8). In publishing the proposal for comment, the Board does not 
take a position on issues raised by the proposal. Notice of the 
proposal is published solely in order to seek the views of interested 
persons on the issues presented by the notice, and does not represent a 
determination by the Board that the proposal meets or is likely to meet 
the standards of the BHC Act.
    Any comments or requests for hearing should be submitted in writing 
and received by William W. Wiles, Secretary, Board of Governors of the 

[[Page 42569]]
Federal Reserve System, Washington, D.C. 20551, not later than 
September 8, 1995. Any request for a hearing on this proposal must, as 
required by Sec.  262.3(e) of the Board's Rules of Procedure (12 CFR 
262.3(e)), be accompanied by a statement of the reasons why 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. The 
notice may be inspected at the offices of the Board of Governors or the 
Federal Reserve Bank of Richmond.
    Board of Governors of the Federal Reserve System, August 10, 
1995.

William W. Wiles,
Scretary of the Board.
[FR Doc. 95-20232 Filed 8-15-95; 8:45 am]
BILLING CODE 6210-01-F