[Federal Register Volume 63, Number 126 (Wednesday, July 1, 1998)]
[Notices]
[Pages 35932-35933]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-17453]


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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 or the offices of the Board of 
Governors not later than July 17, 1998.
    A. Federal Reserve Bank of Boston (Richard Walker, Community 
Affairs Officer) 600 Atlantic Avenue, Boston, Massachusetts 02106-2204:
    1. BankBoston Corporation (BKB), Boston, Massachusetts; to acquire 
Robertson Stephens, Inc., San Francisco, California, and thereby engage 
in

[[Page 35933]]

underwriting and dealing to a limited extent in all types of equity 
securities, other than ownership interest in open-end investment 
companies; making, acquiring and servicing loans and other extensions 
of credit, pursuant to Sec.  225.28(b)(1) of Regulation Y; providing 
investment and financial advisory services, pursuant to Sec.  
225.28(b)(6) of Regulation Y; arranging commercial or industrial real 
estate equity financing, pursuant to Sec.  225.28(b)(2)(ii) of 
Regulation Y; underwriting and dealing in obligations of the United 
States and Canada, general obligations of U.S. States, Canadian 
provinces, and their political subdivisions, and other obligation in 
which state member banks may underwrite and deal under 12 U.S.C. 24 and 
335, pursuant to Sec.  225.28(b)(8) of Regulation Y; and providing 
securities brokerage, private placement, and riskless principal 
services, pursuant to Sec.  225.28(b)(7)(i), (ii), and (iii) of 
Regulation Y. The proposed activities are currently being conducted, 
directly or indirectly, by the subject entities with Board approval. 
(See Bank of Boston Corp., 83 Fed. Res. Bull. 42 (1997) and Bank 
America Corp., 83 Fed. Res. Bull. 1008 (1997)).

    Board of Governors of the Federal Reserve System, June 25, 1998.
Robert deV. Frierson,
Associate Secretary of the Board.
[FR Doc. 98-17453 Filed 6-30-98; 8:45 am]
BILLING CODE 6210-01-F