[Federal Register Volume 60, Number 232 (Monday, December 4, 1995)]
[Notices]
[Page 62092]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-29390]



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FEDERAL RESERVE SYSTEM


Caisse Nationale de Credit Agricole, S.A.; Notice of Proposal to 
Engage de novo in Permissible Nonbanking Activities

    The company listed in this notice has given notice under Sec.  
225.23(a)(1) of the Board's Regulation Y (12 CFR 225.23(a)(1)) 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 commence or to engage de novo, either directly or through 
a subsidiary, 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 notice is available for immediate inspection at the Federal 
Reserve Bank indicated. Once the notice 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 commencement of the activity 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 
December 18, 1995.
    A. Federal Reserve Bank of Chicago (James A. Bluemle, Vice 
President) 230 South LaSalle Street, Chicago, Illinois 60690:
    1. Caisse Nationale de Credit Agricole S.A., Paris, France; to 
engage de novo through its subsidiaries Credit Agricole Lazard 
Financial Products Bank, London, England, and CAL FP (US), Inc., New 
York, New York, in providing investment advisory services, pursuant to Secs.  
225.25(b)(4), 225.25(b)(15)(i), and (ii) of the Board's Regulation Y; 
acting as an agent in the private placement of all types of securities, 
including providing related advisory services, pursuant to Bankers 
Trust New York Corporation, 75 Fed. Res. Bull. 829 (1989); providing 
riskless principal brokerage services, pursuant to Bankers Trust New 
York Corporation, 75 Fed. Res. Bull. 829 (1989); acting as broker or 
agent with respect to interest rate and currency swaps and swap 
derivative products relating thereto, pursuant to Swiss Bank 
Corporation, 81 Fed. Res. Bull. 185 (1995); acting as broker or agent 
with respect to swaps and swap derivative products, and over-the-
counter option transactions, linked to certain commodities, stock, 
bond, or commodity indices, or a hybrid of interest rates and such 
commodities or indices, a specially tailored basket of securities 
selected by the parties, or single equity securities, pursuant to Swiss 
Bank Corporation, 81 Fed. Res. Bull. 185 (1995); providing financial 
and transactional advice regarding the structuring and arranging of 
swaps, swap derivative products, and similar transactions relating to 
interest rates, currency exchange rates or prices, and economic and 
financial indices, and similar transactions, pursuant to Sec.  
225.25(b)(4) of the Board's Regulation Y, and regarding commodity and 
index swap transactions, pursuant to Swiss Bank Corporation, 81 Fed. 
Res. Bull. 185 (1995); providing investment advice, including counsel, 
publication, written analyses and reports, with respect to the purchase 
and sale of futures contracts and options on futures contracts, 
pursuant to Security Pacific Corp., 74 Fed. Res. Bull. 820 (1988); J.P. 
Morgan & Company Incorporated, 80 Fed. Res. Bull. 151 (1994); and Swiss 
Bank Corporation, 81 Fed. Res. Bull. 185 (1995); providing foreign 
exchange advisory and transactional services, including providing 
general information and statistical forecasting with respect to foreign 
exchange markets; advisory services designed to assist customers in 
monitoring, evaluating, and managing their foreign exchange exposures; 
and transactional execution of foreign exchange by arranging for the 
execution of foreign exchange transactions, pursuant to Sec.  
225.25(b)(17) of the Board's Regulation Y; providing portfolio 
investment advice to customers; furnishing economic information and 
advice, general economic statistical forecasting services and industry 
studies; and providing advice, including rendering fairness opinions 
and providing evaluation services, in connection with mergers, 
acquisitions, divestitures, joint ventures, leverage buyouts, 
recapitalizations, capital structurings, and financing transactions 
(including private and public financing and loan syndications), and 
conducting feasibility studies, pursuant to Sec.  225.25(b)(4) of the 
Board's Regulation Y. These activities will be conducted worldwide.

    Board of Governors of the Federal Reserve System, November 28, 
1995.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 95-29390 Filed 12-1-95; 8:45 am]
BILLING CODE 6210-01-F