[Federal Register Volume 60, Number 249 (Thursday, December 28, 1995)]
[Notices]
[Pages 67134-67135]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-31425]



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FEDERAL RESERVE SYSTEM


CoreStates Financial Corp., et al.; Notice of Applications to 
Engage de novo in Permissible Nonbanking Activities

    The companies listed in this notice have filed an application 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 

[[Page 67135]]
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 the applications must be 
received at the Reserve Bank indicated or the offices of the Board of 
Governors not later than January 11, 1996.
    A. Federal Reserve Bank of Philadelphia (Michael E. Collins, Senior 
Vice President) 100 North 6th Street, Philadelphia, Pennsylvania 19105, 
and Federal Reserve Bank of Cleveland (John J. Wixted, Jr., Vice 
President) 1455 East Sixth Street, Cleveland, Ohio 44101:
    1. CoreStates Financial Corp., Philadelphia, Pennsylvania, Banc One 
Corporation, Columbus, Ohio, KeyCorp, Cleveland, Ohio, National City 
Corporation, Cleveland, Ohio, PNC Bank Corp., Pittsburgh, Pennsylvania; 
to engage de novo through their joint venture subsidiary, Electronic 
Payment Services, Inc., Wilmington, Delaware, in providing data 
processing services in connection with an enhanced automated teller 
machine function, enabling financial institutions to dispense money 
orders, travelers checks, and postage stamps, pursuant to Board Order, 
The Bank of New York Company, 80 Fed. Res. Bull. 1107 (1994).

    Board of Governors of the Federal Reserve System, December 21, 
1995.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 95-31425 Filed 12-27-95; 8:45 am]
BILLING CODE 6210-01-F