[Federal Register Volume 61, Number 156 (Monday, August 12, 1996)]
[Notices]
[Pages 41788-41789]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-20448]


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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

[[Page 41789]]

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 August 26, 1996.
    A. Federal Reserve Bank of Cleveland (R. Chris Moore, Senior Vice 
President) 1455 East Sixth Street, Cleveland, Ohio 44101:
    1. Mellon Bank Corporation, Pittsburgh, Pennsylvania; and The Chase 
Manhattan Corporation, New York, New York, to acquire through their 
joint venture ChaseMellon Shareholder Services, L.L.C., Ridgefield 
Park, New Jersey, certain assets relating to the shareholder service 
business of Wells Fargo Bank, N.A., San Francisco, California, and 
certain of its affiliated banks pursuant to Sec.  225.25(b)(3) of the 
Board's Regulation Y. Comments regarding this application must be 
received by August 23, 1996.
    B. Federal Reserve Bank of Chicago (James A. Bluemle, Vice 
President) 230 South LaSalle Street, Chicago, Illinois 60690:
    1. Capitol Bankshares, Inc., Madison, Wisconsin; to engage de novo 
through its subsidiary Capitol Mortgage Corporation, Madison, 
Wisconsin, in making and servicing loans, pursuant to Sec.  
225.25(b)(1) of the Board's Regulation Y.
    C. Federal Reserve Bank of Kansas City (John E. Yorke, Senior Vice 
President) 925 Grand Avenue, Kansas City, Missouri 64198:
    1. King Bancshares, Inc., Kingman, Kansas to engage de novo through 
its subsidiary, Western Credit, Inc., Hutchinson, Kansas, and thereby 
engage in making consumer finance loans pursuant to Sec.  
225.25(b)(1)(i) of the Board's Regulation Y.

    Board of Governors of the Federal Reserve System, August 6, 
1996.
Jennifer J. Johnson
Deputy Secretary of the Board
[FR Doc. 96-20448 Filed 8-9-96; 8:45 am]
BILLING CODE 6210-01-F