[Federal Register Volume 63, Number 25 (Friday, February 6, 1998)]
[Notices]
[Page 6192]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-2901]


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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 February 20, 1998.
    A. Federal Reserve Bank of Richmond (A. Linwood Gill III, Assistant 
Vice President) 701 East Byrd Street, Richmond, Virginia 23261-4528:
    1. First Union Corporation, Charlotte, North Carolina; to retain 
79.8 percent of the voting shares of Mentor Investment Group, LLC, 
Richmond, Virginia, that are held by Notificant's wholly owned 
subsidiary, Wheat First Butcher Singer, Inc., Richmond, Virginia, and 
thereby engage in providing financial and investment advisory services, 
pursuant to Sec.  225.28(b)(6) of the Board's Regulation Y, and 
providing administrative services to open-end investment 
companies(``mutual funds''). See J.P. Morgan & Co., Inc., (Order dated 
December 8, 1997); Bankers Trust New York Corporation, 83 Fed. Res. 
Bull 780 (1997); Commerzbank AG, 83 Fed. Res. Bull. 678 (1997); The 
Governor and Company of the Bank of Ireland, 82 Fed. Res. Bull. 1129 
(1996); Barclays PLC, 82 Fed. Res. Bull. 158 (1996);  Mellon Bank 
Corporation, 79 Fed. Res. Bull. 626 (1993). Notificant would engage in 
these activities in accordance with the limitations and condition 
previously established by the Board by regulation or order, with 
certain exceptions that are discussed in the notice.

    Board of Governors of the Federal Reserve System, February 2, 
1998.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 98-2901 Filed 2-5-98; 8:45 am]
BILLING CODE 6210-01-F