[Federal Register Volume 60, Number 176 (Tuesday, September 12, 1995)]
[Notices]
[Page 47368]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-22575]



=======================================================================
-----------------------------------------------------------------------

FEDERAL RESERVE SYSTEM


First Union Corporation, et al.; Acquisitions of Companies 
Engaged in Permissible Nonbanking Activities

    The organizations listed in this notice have applied under Sec.  
225.23(a)(2) or (f) of the Board's Regulation Y (12 CFR 225.23(a)(2) or 
(f)) 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. 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 
September 26, 1995.
    A. Federal Reserve Bank of Richmond (Lloyd W. Bostian, Jr., Senior 
Vice President) 701 East Byrd Street, Richmond, Virginia 23261:
    1. First Union Corporation, Charlotte, North Carolina; to acquire 
RS Financial Corporation, Raleigh, North Carolina, and thereby 
indirectly acquire Raleigh Federal Savings Bank, Raleigh, North 
Carolina, and engage in operating a savings association, pursuant to 
Sec.  225.25(b)(9) of the Board's Regulation Y.
    B. Federal Reserve Bank of Kansas City (John E. Yorke, Senior Vice 
President) 925 Grand Avenue, Kansas City, Missouri 64198:
    1. Downs Bancshares, Inc., Downs, Kansas; to acquire Cushing 
Insurance, Inc., Downs, Kansas, and thereby engage in the sale of 
general insurance in a town of less than 5,000 in population, pursuant 
to Sec.  225.25(b)(8)(iii)(A) of the Board's Regulation Y. The 
geographic scope for this activity is Downs, Kansas.

    Board of Governors of the Federal Reserve System, September 6, 
1995.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 95-22575 Filed 9-11-95; 8:45 am]
BILLING CODE 6210-01-F