[Federal Register Volume 62, Number 183 (Monday, September 22, 1997)]
[Notices]
[Pages 49517-49518]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-25118]


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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. The notice also will 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 October 17, 1997.
    A. Federal Reserve Bank of Minneapolis (Karen L. Grandstrand, Vice 
President) 250 Marquette Avenue, Minneapolis, Minnesota 55480-2171:
    1. Norwest Corporation, Minneapolis, Minnesota; through its wholly-
owned subsidiaries, Norwest Financial Services, Inc. and Norwest 
Financial, Inc., both of Des Moines, Iowa, to acquire Cityside 
Financial Services of Wisconsin, Inc., Cityside Savings & Financial 
Services, Co. and Cityside Insurance Company, Ltd., all of Eden 
Prairie, Minnesota, and thereby engage in consumer finance activities, 
pursuant to Sec.  225.28(b)(1) of the Board's Regulation Y; in the sale 
of insurance related to extensions of credit as well as the reinsurance 
of such insurance, pursuant to Secs.  225.28(b)(11)(i), (ii), and (vii) 
of the Board's Regulation Y; and in

[[Page 49518]]

the operation of a nonbank depository institution, pursuant to Sec.  
225.28(b)(4) of the Board's Regulation Y.

    Board of Governors of the Federal Reserve System, September 17, 
1997.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 97-25118 Filed 9-19-97; 8:45 am]
BILLING CODE 6210-01-F