[Federal Register Volume 61, Number 40 (Wednesday, February 28, 1996)]
[Notices]
[Page 7520]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-4449]



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FEDERAL RESERVE SYSTEM

Woodforest Bancshares, Inc.; Notice to Engage in Nonbanking 
Activities

    Woodforest Bancshares, Inc., Houston, Texas (Notificant), has given 
notice pursuant to section 4(c)(8) of the Bank Holding Company Act (12 
U.S.C. 1843(c)(8)) (BHC Act) and Sec.  225.23(a)(3) of the Board's 
Regulation Y (12 CFR 225.23(a)(3)), to acquire Mutual Money 
Investments, Inc. (d/b/a Tri-Star Financial), Houston, Texas (Company), 
and thereby engage in providing securities brokerage services pursuant 
to Sec.  225.25(b)(15) of Regulation Y (12 CFR 225.25(b)(15)) and data 
processing services pursuant to Sec.  225.25(b)(7) of Regulation Y (12 
CFR 225.25(b)(7)). Notificant also proposes to act through Company as a 
riskless principal in the purchase and sale of all types of securities 
on the order of investors. This activity has previously been determined 
by Board Order to be closely related to banking. Notificant proposes to 
engage in the proposed activities nationwide.
    Section 4(c)(8) of the BHC Act provides that a bank holding company 
may, with Board approval, engage in any activity ``which the Board 
after due notice and opportunity for hearing has determined (by order 
or regulation) to be so closely related to banking or managing or 
controlling banks as to be a proper incident thereto.'' 12 U.S.C. 
1843(c)(8).
    Notificant maintains that the Board previously has determined that 
the proposed activities are ``so closely related to banking or managing 
or controlling banks as to be proper incident thereto.'' The Board 
previously has approved, by order, the proposed riskless principal 
activities, and Notificant has stated that it will conduct these 
activities using the same methods and subject to the prudential 
limitations established by the Board in its previous orders. See J.P. 
Morgan & Co. Incorporated, 76 Fed. Res. Bull. 26 (1990); Bankers Trust 
New York Corporation, 75 Fed. Res. Bull. 829 (1989).
    In publishing the proposal for comment, the Board does not take a 
position on issues raised by the proposal. Notice of the proposal is 
published solely in order to seek the views of interested persons on 
the issues presented by the notice, and does not represent a 
determination by the Board that the proposal meets or is likely to meet 
the standards of the BHC Act.
    Any comments or requests for hearing should be submitted in writing 
and received by William W. Wiles, Secretary, Board of Governors of the 
Federal Reserve System, Washington, D.C. 20551, not later than March 
13, 1996. Any request for a hearing on this proposal must, as required 
by section 262.3(e) of the Board's Rules of Procedure (12 CFR 
262.3(e)), be accompanied by a statement of the reasons why 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. The 
notice may be inspected at the offices of the Board of Governors or the 
Federal Reserve Bank of Dallas.

    Board of Governors of the Federal Reserve System, February 22, 
1996.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 96-4449 Filed 2-27-96; 8:45 am]
BILLING CODE 6210-01-F