[Federal Register Volume 61, Number 154 (Thursday, August 8, 1996)]
[Notices]
[Pages 41415-41416]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-20199]
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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 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
[[Page 41416]]
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 August 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 New Hampshire,
Inc., Concord, New Hampshire, in expanding the previously approved
investment advisory activities to include the provision of
discretionary investment management services to noninstitutional
customers. The Board has previously found this activity to be so
closely related to banking. See Keystone Financial, Inc., 82 Fed. Res.
Bull. 84 (1996); CoreStates Financial Corp., 80 Fed. Res. Bull. 644
(1994).
B. Federal Reserve Bank of New York (Christopher J. McCurdy, Senior
Vice President) 33 Liberty Street, New York, New York 10045:
1. Cooperative Centrale Raiffeisen-Boereleenbank B.A., Rabobank
Nederland, Utrecht, The Netherlands; to acquire through its 51 percent
owned subsidiary, Agricredit Acceptance LLC, Des Moines, Iowa, all of
the assets of Agricredit Acceptance Corporation and thereby engage in:
(i) receivables financing (including leasing) activities pursuant to
Sec. 225.25(b)(1) of the Board's Regulation Y; (ii) leasing activities
pursuant to Sec. 225.25(b)(5) of the Board's Regulation Y; (iii)
insurance activities pursuant to Sec. 225.25(b)(8)(i) and (ii) of the
Board's Regulation Y; and (iv) data processing activities pursuant to
Sec. 225.25(b)(7) of the Board's Regulation Y.
Board of Governors of the Federal Reserve System, August 2,
1996.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 96-20199 Filed 8-7-96; 8:45 am]
BILLING CODE 6210-01-F