[Federal Register Volume 62, Number 82 (Tuesday, April 29, 1997)]
[Notices]
[Page 23244]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-11042]


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

FEDERAL RESERVE SYSTEM


Notice to Engage in Certain Nonbanking Activities

    Commerzbank AG, Frankfurt am Main, Germany (Notificant), has 
provided notice pursuant to section 4(c)(8) of the Bank Holding Company 
Act, 12 U.S.C. Sec.  1843(c)(8)), and Sec.  225.24 of the Board's 
Regulation Y (12 CFR 225.24), to acquire through its wholly owned 
subsidiary, CAM Acquisition, LLC, Wilmington, Delaware, substantially 
all the assets of Montgomery Asset Management, L.P. (Partnership), 
including a membership interest in Montgomery Services, LLC, a 
subsidiary of Partnership, both in San Francisco, California, and 
thereby engage in the following nonbanking activities: (1) providing 
securities brokerage services and acting as agent for the private 
placement of securities, pursuant to 12 CFR 225.28(b)(7)(i) and (iii) 
of the Board's Regulation Y; (2) providing financial and investment 
advisory services, pursuant to 12 CFR 225.28(b)(6) of the Board's 
Regulation Y; and (3) providing administrative services to open-end 
investment companies (mutual funds), see Mellon Bank Corporation, 79 
Fed. Res. Bull. 626 (1993); Bank of Ireland, 82 Fed. Res. Bull. 1129 
(1996). Notificant would engage in these activities in accordance with 
most of the limitations and conditions established by the Board by 
regulation or order with certain exceptions relating to the proposed 
provision of advisory and administrative services to mutual funds, as 
set forth in the notice. These activities will be conducted worldwide.
    Unless otherwise noted, comments regarding this application must be 
received at the Federal Reserve Bank of New York or the offices of the 
Board of Governors not later than May 14, 1997.

    Board of Governors of the Federal Reserve System, April 24, 
1997.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 97-11042 Filed 4-28-97; 8:45 am]
BILLING CODE 6210-01-F