[Federal Register Volume 63, Number 99 (Friday, May 22, 1998)]
[Notices]
[Pages 28386-28387]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-13788]


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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, including the 
companies listed below, 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

[[Page 28387]]

or the offices of the Board of Governors not later than June 9, 1998.
    A. Federal Reserve Bank of Philadelphia (Michael E. Collins, Senior 
Vice President) 100 North 6th Street, Philadelphia, Pennsylvania 19105-
1521:
    1. Commerce Bancorp, Cherry Hill, Pennsylvania; to acquire Commerce 
Capital, Philadelphia, Pennsylvania, and thereby engage in Tier II 
securities underwriting and dealing and related activites, including 
bonds issued by not-for-profit entities that qualify under Section 
501(c)(3) of the Internal Revenue Code for a tax exempt status; and 
bonds issued by private entities that qualify under Section 142(d) of 
the Internal Revenue Code for a partially tax exempt status (subject to 
only to the alternative minimum tax). See Citicorp, 75 Fed. Res. Bull., 
751 (1989) & 83 Fed. Res. Bull. 510 (1997).
    B. Federal Reserve Bank of Chicago (Philip Jackson, Applications 
Officer) 230 South LaSalle Street, Chicago, Illinois 60690-1413:
    1. CITBA Financial Corporation, Mooresville, Indiana; to acquire 
Independent Bankers Life Insurance Company of Indiana, Phoenix, 
Arizona, a reinsurance subsidiary, and thereby indirectly engage in 
underwriting credit life, accident and health insurance directly 
related to extensions of credit by the banks and bank holding companies 
owning stock in the insurance agency, pursuant to Sec.  
225.28(b)(11)(i) of the Board's Regulation Y.

    Board of Governors of the Federal Reserve System, May 19, 1998.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 98-13788 Filed 5-21-98; 8:45 am]
BILLING CODE 6210-01-F