[Federal Register Volume 61, Number 197 (Wednesday, October 9, 1996)]
[Notices]
[Pages 52946-52947]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-25868]


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FEDERAL RESERVE SYSTEM


Change in Bank Control Notices; Formations of, Acquisitions by, 
and Mergers of Bank Holding Companies; Correction

    This notice corrects a notice (FR Doc. 96-24789) published on page 
50825 of

[[Page 52947]]

the issue for Friday, September 27, 1996.
    Under the Federal Reserve Bank of Boston heading, the entry for 
Bank of Boston Corporation, Boston, Massachusetts, is revised to read 
as follows:
    1. Bank of Boston Corporation, Boston, Massachusetts; to engage de 
novo through its subsidiary, BancBoston Securities, Inc., Boston, 
Massachusetts, in: (1) Underwriting and dealing to a limited extent in 
all types of debt and equity securities (See J.P. Morgan & Co., Inc., 
75 Fed. Res. Bull. 192, 209 n.49(1989), Dresdner Order; HSBC Holdings 
plc et al., 82 Fed. Res. Bull 356(1996) and ABN AMRO, 81 Fed. Res. Bull 
182(1995)); (2) Acting as agent in the private placement of all types 
of securities including providing related advisory services (See 
Bankers Trust New York Corporation, 75 Fed. Res. Bull. 829(1989)); (3) 
Buying and selling all types of securities on the order of investors as 
a ``riskless principal''(See Order Revising the Limitations Applicable 
to Riskless Principal Activities, 82 Fed. Res. Bull. 759(1996)); (4) 
Making and servicing loans, pursuant to Sec.  225.25(b)(1) of the 
Board's Regulation Y; (5) Providing investment or financial advice, 
pursuant to Sec.  225.25(b)(4) of the Board's Regulation Y; (6) 
Arranging commercial or industrial real estate financing pursuant to 
Sec.  225.25(b)(14) of the Board's Regulation Y; (7) Providing 
securities execution and clearance (brokerage) services as agent for 
the account of customers, related securities credit activities, 
pursuant to the Board's Regulation T, and related activities such as 
offering custodial services, individual retirement accounts and cash 
management services pursuant to Sec.  225.25(b)(15) of the Board's 
Regulation Y; (8) Underwriting and dealing in obligations of the United 
States and Canada, general obligations of U.S. states, Canadian 
provinces and their respective political subdivisions, and other 
obligations that state member banks of the Federal Reserve System may 
underwrite and deal, pursuant to Sec.  225.25(b)(16) of the Board's 
Regulation Y; (9) Engaging in the following ``swaps-related'' 
activities: (a) acting as broker or agent with respect to interest rate 
and currency swap transactions and related caps, floors, collars and 
options on swaps, caps, floors and collars (``swap derivative 
products''; (b) acting as broker or agent with respect to swaps and 
swap derivative products, and over-the-counter option transactions, 
linked to products other than interest rates and currencies, such as 
certain commodities, stock, bond or commodity indices, or a hybrid of 
interest rates and such commodities or indicies, a specially tailored 
basket of securities selected by the parties, or single securities; (c) 
providing financial and transactional advice regarding the structuring 
and arranging of swaps and swap derivative products relating to non-
financial commodity swap transactions; (d) providing investment advice, 
including counsel, publication, written analyses and reports, and other 
advisory services, including discretionary portfolio management 
services, with respect to futures and options on futures on non-
financial commodities; (See Secs.  225.25(b)(4)(vi)(A)(2), (B) and (C); 
Caisse Nationale de Credit Agricole, S.A., 82 Fed. Res. Bull 754(1996); 
First Union Corporation, 81 Fed. Res. Bull. 726(1995); SBC Section 20 
Order; First of America Order; Republic Order; Morgan, 80 Fed. Res. 
Bull. 151(1994); The Long-Term Credit Bank of Japan, Limited, 79 Fed. 
Res. Bull. 347(1993); Security Pacific Corporation, 74 Fed. Res. Bull. 
820(1988)), and (10) in addition to the securities credit activities 
under the Board's Regulation T, acting as ``conduit'' or 
``intermediary'' in securities borrowing and lending. (See  Republic 
New York Corp., et al. 80. Fed. Res. Bull. 249, 250 (1994)). These 
activities would be conducted throughout the United States and 
throughout the world.
    Comments on this application must be received by October 11, 1996.

    Board of Governors of the Federal Reserve System, October 3, 
1996.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 96-25868 Filed 10-8-96; 8:45 am]
BILLING CODE 6210-01-F