[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