[Federal Register Volume 60, Number 227 (Monday, November 27, 1995)]
[Notices]
[Pages 58364-58365]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-28822]



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FEDERAL RESERVE SYSTEM

National Westminster Prima Limited, 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 
December 11, 1995.
    A. Federal Reserve Bank of New York (William L. Rutledge, Senior 
Vice President) 33 Liberty Street, New York, New York 10045:
    1. National Westminster Prima Limited, London, England; to acquire 
Infinet Payment Services Inc., Hackensack, New Jersey, and thereby 
engage in data processing, pursuant to Sec.  225.25(b)(7) of the 
Board's Regulation Y and Board Order (The Bank of New York Company, 
Inc., BayBanks, Inc., 80 Fed. Res. Bull. 1107 (1994)); Natwest 
Securities Corporation, New York, New York, and thereby engage in 
securities activities, including securities brokerage and financial and 
investment advisory activities, both separately and on a combined 
basis, for institutional customers, pursuant to Sec.  225.25(b)(15) of 
the Board's Regulation Y and Board Order (72 Fed. Res. Bull. 584 
(1986)); NatWest International Securities Inc., New York, New York, and 
thereby engage in securities brokerage activities, pursuant to Sec.  
225.25(b)(15) of the Board's Regulation Y; Westminster Research 
Associates Inc., New York, New York, and thereby engage in certain 
securities brokerage activities, pursuant to Sec.  225.25(b)(15) of the 
Board's Regulation Y; NatWest Investment Management, Inc., Boston, 
Massachusetts, and thereby engage in investment advisory activities, 
pursuant to Sec.  225.25(b)(4) and Sec.  225.25(b)(19) of the Board's 
Regulation Y; NatWest Markets Leasing Corporation, New York, New York, 
and thereby engage in lending and leasing activities, pursuant to Secs.  
225.25(b)(1) and 225.25(b)(5) of the Board's Regulation Y; NatWest 
Equity Corporation, New York, New York, and thereby engage in lending 
activities, pursuant to Sec.  225.25(b)(1) the Board's Regulation Y; 
and NatWest Leasing Corporation, New York, New York, and thereby engage 
in lending and leasing activities, pursuant to Secs.  225.25(b)(1) and 
225.25(b)(5) of the Board's Regulation Y. Applicant will be a 
subsidiary of National Westminster Bank, plc, London, England, and 
NatWest Holding Inc., New York, New York. The activities will be 
conducted worldwide.
    2. Saban, S.A., Gilbralter, New York, RNYC Holdings LTD., 
Gilbralter, New York, and Republic New York Corporation, New York, New 
York; to acquire Brooklyn Bancorp, Inc., Brooklyn, New York, and 
thereby indirectly acquire its subsidiary, Crossland Federal Savings 
Bank, Brooklyn, New York, and thereby engage in operation a savings 
association, pursuant to Sec.  225.25(b)(9) of the Board's Regulation 
Y.
    B. Federal Reserve Bank of Richmond (Lloyd W. Bostian, Jr., Senior 
Vice President) 701 East Byrd Street, Richmond, Virginia 23261:
    1. Monoracy Bancshares, Inc., Taneytown, Maryland; to acquire Royal 
Oak Savings Bank, F.S.B., Randallstown, Maryland, and thereby engage in 
operating a federal savings bank, pursuant to Sec.  225.25(b)(9) of the 
Board's Regulation Y.
    C. Federal Reserve Bank of Chicago (James A. Bluemle, Vice 
President) 230 South LaSalle Street, Chicago, Illinois 60690: 

[[Page 58365]]

    1. Old Kent Financial Corporation, Grand Rapids, Michigan; to 
acquire 100 percent of the voting shares of Republic Mortgage 
Corporation, Salt Lake City, Utah, and Republic's 45 percent of the 
voting shares in World Mortgage, Logan, Utah, a Utah general 
partnership, and Republic's 51 percent interest in Republic Mortgage II 
L.C., Salt Lake City, Utah, a Utah limited liability company, and 
thereby engage in making and servicing mortgage loans, pursuant to 
Sec. 225.25(b)(1) of the Board's Regulation Y.
    D. Federal Reserve Bank of Minneapolis (James M. Lyon, Vice 
President) 250 Marquette Avenue, Minneapolis, Minnesota 55480:
    1. Banterra Corp, Eldorado, Illinois; to acquire through its 
subsidiary, Banterra Insurance Services, Inc., Eldorado, Illinois, 
certain assets of Tanner Insurance Agency, Galatia, Illinois, and 
thereby engage in general insurance activities in a town with a 
population of less than 5,000, pursuant to Sec.  225.25(b)(8)(iii)(A) 
of the Board's Regulation Y.

    Board of Governors of the Federal Reserve System, November 20, 
1995.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 95-28822 Filed 11-24-95; 8:45 am]
BILLING CODE 6210-01-F