[Federal Register Volume 61, Number 132 (Tuesday, July 9, 1996)]
[Notices]
[Pages 36061-36062]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-17423]


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FEDERAL RESERVE SYSTEM

Notice of Proposals to Engage in Permissible Nonbanking 
Activities or to Acquire Companies That are Engaged in Permissible 
Nonbanking Activities

    The companies listed in this notice have given notice under section 
4 of the Bank Holding Company Act (12 U.S.C. 1843) (BHC Act) and 
Regulation      Y, (12 CFR Part 225) to engage de novo, or to acquire 
or control voting securities or assets of a company that engages either 
directly or through a subsidiary or other company, in a nonbanking 
activity that is listed in Sec.  225.25 of Regulation Y (12 CFR 225.25) 
or that the Board has determined by Order to be closely

[[Page 36062]]

related to banking and permissible for bank holding companies. Unless 
otherwise noted, these activities will be conducted throughout the 
United States.
    Each notice is available for 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 the proposal complies with the standards of section 4 
of the BHC Act, including 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'' (12 U.S.C. 1843). 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 July 22, 1996.
    A. Federal Reserve Bank of Boston (Robert M. Brady, Vice President) 
600 Atlantic Avenue, Boston, Massachusetts 02106:
    1. Cambridge Bancorp, Cambridge, Massachusetts; to engage de novo 
through its subsidiary, Cambridge Investment Services of NH, Inc., 
Cambridge, Massachusetts, in investment advisory activities pursuant to 
Sec.  225.25(b)(4) of the Board's Regulation Y.
    B. Federal Reserve Bank of New York (Christopher J. McCurdy, Senior 
Vice President) 33 Liberty Street, New York, New York 10045:
    1. Deutsche Bank AG, Frankfurt (Main), Federal Republic of Germany; 
to engage de novo through its indirect subsidiary, Deutsche Morgan 
Grenfell Financial Products Corporation, New York, New York, in trading 
for its own account, for purposes other than hedging, in U.S. 
government securities and Eurodollars and options on futures on U.S. 
government securities and Eurodollars. Notificant proposes to engage in 
the proposed activities worldwide. The Board previously has determined, 
by order, that the proposed activities are ``so closely related to 
banking or managing or controlling banks as to be proper incident 
thereto.'' See Swiss Bank Corporation, 77 Federal Reserve Bulletin 759 
(1991). Notificant has stated that Company will conduct the proposed 
activities subject to the limitations established by the Board in its 
previous orders.
    C. Federal Reserve Bank of San Francisco (Kenneth R. Binning, 
Director, Bank Holding Company) 101 Market Street, San Francisco, 
California 94105:
    1. Zions Bancorporation, Salt Lake City, Utah; to engage de novo 
through its subsidiary, Cash Access, Inc., Salt Lake City, Utah, a de 
novo, wholly-owned subsidiary, in data processing and data transmission 
services through the installation and operation of automatic teller 
machines, pursuant to Sec.  225.25(b)(7) of the Board's Regulation Y.

    Board of Governors of the Federal Reserve System, July 2, 1996.
Jennifer J. Johnson
Deputy Secretary of the Board
[FR Doc. 96-17423 Filed 7-08-96; 8:45 am]
BILLING CODE 6210-01-F