[Federal Register Volume 60, Number 235 (Thursday, December 7, 1995)]
[Notices]
[Pages 62858-62859]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-29820]
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FEDERAL RESERVE SYSTEM
The Mitsubishi Bank, Limited; Formation of, Acquisition by, or
Merger of Bank Holding Companies; and Acquisition of Nonbanking Company
The company listed in this notice has applied under Sec. 225.14 of
the Board's Regulation Y (12 CFR 225.14) for the Board's approval under
section 3 of the Bank Holding Company Act (12 U.S.C. 1842) to become a
bank holding company or to acquire voting securities of a bank or bank
holding company. The listed company also has given notice under Sec.
225.23(a)(2) of Regulation Y (12 CFR 225.23(a)(2)) for the 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,
or to engage in such an activity. Unless otherwise noted, these
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 to
acquire the non-banking subsidiaries 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
January 4, 1996.
A. Federal Reserve Bank of San Francisco (Kenneth R. Binning,
Director, Bank Holding Company) 101 Market Street, San Francisco,
California 94105:
1. The Mitsubishi Bank, Limited, Tokyo, Japan; to merge with The
Bank of Tokyo, Ltd., Tokyo, Japan, and thereby indirectly acquire The
Bank of Tokyo Trust Company, New York, New York, The Chicago-Tokyo
Bank, Chicago, Illinois, and Union Bank, San Francisco, California.
In connection with this application, Applicant also has applied to
acquire BOT Securities, Inc., New York, New York, and thereby engage in
making, acquiring or servicing loans, pursuant to Sec. 225.25(b)(1),
providing investment or financial advice, pursuant to Sec.
225.25(b)(4),providing brokerage services separately and in combination
with investment advisory services, pursuant to Sec. 225.25(b)(15),
underwriting and dealing in bank-eligible securities, pursuant to Sec.
225.25(b)(16), providing general information and statistical
forecasting with respect to foreign exchange markets, pursuant to Sec.
225.25(b)(17), acting as a futures commission merchant, pursuant to
Sec. 225.25(b)(18), and trading for its own account in
[[Page 62859]]
certain foreign exchange spot, forward, futures, and options
transactions, The Bank of Tokyo, Ltd., 76 Fed. Res. Bull. 654 (1990),
and BOT Financial Corp., Boston, Massachusetts, and thereby engage in
making, acquiring or servicing loans, pursuant to Sec. 225.25(b)(1),
acting as investment or financial advisor, pursuant to Sec.
225.25(b)(4), leasing services, pursuant to Sec. 225.25(b)(5), and
providing data processing and data transmission services, pursuant to
Sec. 225.25(b)(7) of the Board's Regulation Y.
In connection with this application, Union Bank, San Francisco,
California, will become a bank holding company by acquiring 100 percent
of the voting shares of BanCal Tri-State Corporation, San Francisco,
California, and thereby indirectly acquire The Bank of California,
N.A., San Francisco, California. The Bank of California will acquire
the banking assets and assume the liabilities of Union Bank and Union
Bank will cease to be an insured institution.
In connection with this proposal, The Mitsubishi Bank Ltd. and
Union Bank have applied to acquire UB Investment Services, Inc., Los
Angeles, California, and thereby engage in investment advisory
services, pursuant to Sec. 225.25(b)(4) of the Board's Regulation Y;
securities brokerage activities, pursuant to Sec. 225.25(b)(15) of the
Board's Regulation Y; and acting as riskless principal, pursuant to
Bankers Trust New York Corporation, 75 Fed. Res. Bull. 829 (1989);
Bankers Commercial Corporation, San Diego, California, UB Leasing,
Inc., Los Angeles, California, and Unionbanc Leasing Corp., Los
Angeles, California, and thereby engage in making, acquiring or
servicing loans, pursuant to Sec. 225.25(b)(1); acting as investment
or financial advisor, pursuant to Sec. 225.25(b)(4); and leasing
services, pursuant to Sec. 225.25(b)(5), and providing data processing
and data transmission services, pursuant to Sec. 225.25(b)(7) of the
Board's Regulation Y; Stanco Properties, Inc., San Francisco,
California, and thereby engage in escrow and custodial services,
pursuant to Sec. 225.25(b)(3) of the Board's Regulation Y; and UB
Mortgage Corp., San Francisco, California, and thereby engage in acting
as trustee under deeds of trust, pursuant to Sec. 225.25(b)(1) of the
Board's Regulation Y.
Board of Governors of the Federal Reserve System, December 1,
1995.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 95-29820 Filed 12-6-95; 8:45 am]
BILLING CODE 6210-01-F