[Federal Register Volume 60, Number 185 (Monday, September 25, 1995)]
[Notices]
[Page 49413]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-23674]



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FEDERAL RESERVE SYSTEM

Norwest Corporation; Acquisition of Company Engaged in 
Permissible Nonbanking Activities

    The organization listed in this notice has 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.
    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 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 
October 10, 1995.
    A. Federal Reserve Bank of Minneapolis (James M. Lyon, Vice 
President) 250 Marquette Avenue, Minneapolis, Minnesota 55480:
    1. Norwest Corporation, Minneapolis, Minnesota; to acquire AMFED 
Financial, Inc., Reno, Nevada, and thereby acquire American Federal 
Savings Bank, Reno, Nevada, and thereby engage in operating a savings 
and loan association, pursuant to Sec.  225.25(b)(9) of the Board's 
Regulation Y; and engage in the originating and purchasing of loans 
secured by single-family residential real estate and to a lesser 
extent, originating multi-family, commercial real estate, consumer, 
construction and other loans, pursuant to Sec.  225.25(b)(1) of the 
Board's Regulation Y. AMFED also acts as a trustee under deeds of 
trust, pursuant to Sec.  225.25(b)(3) of the Board's Regulation Y.

    Board of Governors of the Federal Reserve System, September 19, 
1995.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 95-23674 Filed 9-22-95; 8:45 am]
BILLING CODE 6210-01-F