[Federal Register Volume 61, Number 212 (Thursday, October 31, 1996)]
[Notices]
[Page 56236]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-27935]


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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 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 November 14, 1996.
    A. Federal Reserve Bank of Boston, (Robert M. Brady, Vice 
President) 600 Atlantic Avenue, Boston, Massachusetts 02106:
    1. Bank of Boston Corporation, Boston, Massachusetts, The Bank of 
New York Company, Inc., New York, New York, The Chase Manhattan 
Corporation, New York, New York, Citicorp, New York, New York, First 
Union Corporation, Charlotte, North Carolina, Fleet Financial Group, 
Inc., Providence, Rhode Island, The Governor and Company of the Bank of 
Ireland, Dublin, Ireland, The Royal Bank of Scotland Group plc, 
Edinburgh, Scotland, The Royal Bank of Scotland, plc, Edinburgh, 
Scotland, Citizens Financial Group, Inc., Providence, Rhode Island, 
HSBC Holdings plc, London, United Kingdom, HSBC Holdings BV, Amsterdam, 
Netherlands, HSBC Americas, Inc., Buffalo, New York, and National 
Westminster Bank plc, London, England; to engage de novo through their 
subsidiary, NYCE Corporation, Woodcliff Lake, New Jersey, in data 
processing and related services (including transaction switching) in 
connection with the distribution through electronic banking terminals 
of: (1) public transportation tickets; (2) event and attraction 
tickets; (3) gift certificates; (4) prepaid telephone cards; (5) other 
forms of alternate media that evidence a cardholder's prepayment for 
goods or services; and (6) other forms of alternate media, the 
dispensing of which is the automated equivalent of a customary banking 
activity such as distributing money orders, mutual fund shares and 
insurance policies under circumstances permitted by law, Banc One 
Corporation, (82 Fed. Res. Bull. 848 (1996).

    Board of Governors of the Federal Reserve System, October 25, 
1996.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 96-27935 Filed 10-30-96; 8:45 am]
BILLING CODE 6210-01-F