[Federal Register Volume 61, Number 174 (Friday, September 6, 1996)]
[Notices]
[Pages 47128-47129]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-22742]


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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

[[Page 47129]]

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 September 19, 1996.
    A. Federal Reserve Bank of Boston (Robert M. Brady, Vice President) 
600 Atlantic Avenue, Boston, Massachusetts 02106:
    1. State Street Boston Corporation, Boston, Massachusetts; to 
engage de novo through its subsidiaries, Boston Financial Data 
Services, Inc., Quincy, Massachusetts, and National Financial Data 
Services, Inc., Kansas City, Missouri, in securities brokerage 
activities, pursuant to Sec.  225.25(b)(15)(i) 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. Summit Bancorp, Princeton, New Jersey; to acquire Central Jersey 
Financial Corp., East Brunswick, New Jersey, and thereby indirectly 
acquire Central Jersey Savings Bank, SLA, East Brunswick, New Jersey, 
and thereby engage in operating a savings association, pursuant to 
Sec.  225.25(b)(9) of the Board's Regulation Y.
    C. Federal Reserve Bank of Philadelphia (Michael E. Collins, Senior 
Vice President) 100 North 6th Street, Philadelphia, Pennsylvania 19105:
    1. CoreStates Financial Corp., Philadelphia, Pennsylvania; to 
engage de novo through its subsidiary, CoreStates Securities Corp, 
Philadelphia, Pennsylvania, in underwriting and dealing in government 
obligations, pursuant to Sec.  225.25(b)(16) of the Board's Regulation 
Y.
    2. Fulton Financial Corporation, Lancaster, Pennsylvania; to engage 
de novo in community development activities through a limited 
partnership, pursuant to Sec.  225.25(b)(6) of the Board's Regulation 
Y.
    D. Federal Reserve Bank of Chicago (James A. Bluemle, Vice 
President) 230 South LaSalle Street, Chicago, Illinois 60690:
    1. Caisse Nationale de Credit Agricole S.A., Paris, France; to 
retain through Banque Indosuez, Paris, France, Indosuez Carr Futures, 
Inc., Chicago, Illinois, Daniel Breen & Company, L.P., Houston, Texas, 
and thereby engage in acting as a futures commission merchant and 
providing related advisory services, and in investment advisory 
activities. In connection with this application, Caisse Nationale de 
Credit Agricole S.A., Paris, France, and Banque Indosuez, Paris, 
France, also have applied to engage through Daniel Breen & Company, 
L.P., Houston, Texas, and Breen Trust Company, Houston, Texas, in 
functions and activities permitted for trust companies. In addition, 
Applicants also have applied to engage de novo in acting as a futures 
commission merchant and providing related advisory services with 
respect to non-financial futures and, to provide execution-only and 
clearance-only services with respect to futures transactions. Applicant 
proposed to engage in these activities, pursuant to Sec.  225.25 
b)(18), and (b)(3) of the Board's Regulation Y and Board Order. 79 Fed. 
Res. Bull. 1049 (1993); 80 Fed. Res. Bull. 151 (1994); 80 Fed. Res. 
Bull. 649 (1994); and 80 Fed. Res. Bull. 552 (1994).
    2. Stichting Prioriteit ABN AMRO Holding, Amsterdam, The 
Nertherlands; Stichting Administratiekantoor ABN AMRO Holding, 
Amsterdam, The Netherlands; ABN AMRO Holding N.V., Amsterdam, The 
Netherlands; ABN AMRO Bank N.V., Amsterdam, The Netherlands; ABN AMRO 
North America, Inc., Chicago, Illinois, to acquire Heigle Mortgage and 
Financial Corporation, Bloomington, Minnesota, and thereby indirectly 
acquire LaSalle Home Mortgage Corporation, Chicago, Illinois, and 
thereby engage in the nonbanking activity of making and servicing 
loans, pursuant to Sec.  225.25(b)(1) of the Board's Regulation Y.
    E. Federal Reserve Bank of St. Louis (Randall C. Sumner, Vice 
President) 411 Locust Street, St. Louis, Missouri 63166:
    1. National Commerce Bancorporation, Memphis, Tennessee; to acquire 
Kenesaw Leasing Inc., Knoxville, Tennessee, and thereby engage in 
leasing personal or real property, pursuant to Sec.  225.25(b)(5) of 
the Board's Regulation Y.

    Board of Governors of the Federal Reserve System, August 30, 
1996.
William W. Wiles
Secretary of the Board
[FR Doc. 96-22742 Filed 9-5-96; 8:45 am]
BILLING CODE 6210-01-F