[Federal Register Volume 62, Number 81 (Monday, April 28, 1997)]
[Notices]
[Page 22945]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-10842]


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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.  225.28 of Regulation Y (12 CFR 225.28) 
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.
    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 May 12, 1997.
    A. Federal Reserve Bank of New York (Christopher J. McCurdy, Senior 
Vice President) 33 Liberty Street, New York, New York 10045-0001:
    1. Commerzbank AG, Frankfurt, (Main), Federal Republic of Germany; 
to acquire through Commerzbank Asset Management USA Corporation and CAM 
Acquisitions, LLC, Montgomery Asset Management, LLC, San Francisco, 
California, and thereby indirectly engage in financial and investment 
advisory activities, pursuant to Sec.  225.28(b)6) of the Board's 
Regulation Y; in agency transactional services for customer 
investments, including securities brokerage services, pursuant to Sec.  
225.28(b)(7) of the Board's Regulation Y; and in the provision of 
certain administrative services for investment companies, including 
those previously found to be permissible by Board order. With respect 
to administrative services for mutual funds, see The Governor and 
Company of the Bank of Ireland, 83 Fed. Res. Bull. 1129 (1996); 
Dresdner Bank AG, 83 Fed. Res. Bull. 676 (1996); Barclays Banks PLC, 82 
Fed. Res. Bull. 158 91996); Mellon Bank Corporation, 79 Fed. Res. Bull. 
626 (1993). With respect to mutual fund transfer agency services, see 
12 CFR 225.125(i).
    2. Deutsche Bank, AG (Main), Federal Republic of Germany; to 
acquire through Deutsche Financial Services Corporation, St. Louis, 
Missouri, Ganis Credit Corporation, Newport Beach, California, and 
thereby engage in the making and servicing of loans, pursuant to Sec.  
225.28(b)(1) of the Board's Regulation Y.
    3. The Industrial Bank of Japan, Ltd., Tokyo, Japan, to engage de 
novo through its subsidiary, Aubrey G. Lanston & Co., Inc., New York, 
New York, in securities brokerage, pursuant to Sec.  225.28(b)(7)(i) of 
the Board's Regulation Y; in riskless principal transactions, pursuant 
to Sec.  225.28(b)(7)(ii) of the Board's Regulation Y; in private 
placement services, pursuant to Sec.  225.28(b)(7)(iii) of the Board's 
Regulation Y; in other transactional services, pursuant to Sec.  
225.28(b)(7)(v); in data processing, pursuant to Sec.  225.28(b)(14) of 
the Board's Regulation Y; in financial and investment advisory 
activities, pursuant to Sec.  225.28(b)(6) of the Board's Regulation Y; 
in futures commission merchant activities, pursuant to Sec.  
225.28(b)(7)(iv) of the Board's Regulation Y; in underwriting and 
dealing in government obligations and money market instruments, 
pursuant to Sec.  225.28(b)(8)(i) of the Board's Regulation Y; in 
investing and trading in (a) foreign exchange, and in (b) forward 
contracts, options, futures, options on futures, swaps, and similar 
contracts, whether traded on exchanged or not, based on any rate, 
price, financial asset, nonfinancial asset, or group of assets, 
pursuant to Sec.  225.28(b)(8)(ii) of the Board's Regulation Y.

    Board of Governors of the Federal Reserve System, April 22, 
1997.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 97-10842 Filed 4-25-97; 8:45 am]
BILLING CODE 6210-01-F