[Federal Register Volume 61, Number 233 (Tuesday, December 3, 1996)]
[Notices]
[Page 64087]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-30695]


-----------------------------------------------------------------------


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 December 17, 1996.
    A. Federal Reserve Bank of New York (Christopher J. McCurdy, Senior 
Vice President) 33 Liberty Street, New York, New York 10045:
    1. Bayerische Vereinsbank AG, Munich, Germany; to engage de novo 
through its subsidiary, VB Risk Management Products, Inc., New York, 
New York in intermediating in the international swap markets by acting 
as an originator and principal in interest rate swap and currency swap 
transactions; in acting as an originator and principal with respect to 
certain interest rate and currency risk-management products such as 
caps, floors and collars, as well as options on swaps, caps, floors and 
collars (``swap derivative products''); in acting as a broker or agent 
with respect to the foregoing transactions or instruments; and in 
acting as an advisor to institutional customers regarding financial 
strategies involving interest rate and currency swaps and swap 
derivative products; Swiss Bank Corporation, 81 Fed. Res. Bull. 185 
(1995); The Long-Term Credit Bank of Japan, 79 Fed. Res. Bull. 345 
(1993); The Sumitomo Bank, Limited, 75 Fed. Res. Bull. 582 (1989).

    Board of Governors of the Federal Reserve System, November 26, 
1996.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 96-30695 Filed 12-2-96; 8:45 am]
BILLING CODE 6210-01-F