[Federal Register Volume 63, Number 166 (Thursday, August 27, 1998)]
[Notices]
[Page 45816]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-23079]


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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 September 11, 1998.
    A. Federal Reserve Bank of Minneapolis (Karen L. Grandstrand, Vice 
President) 90 Hennepin Avenue, P.O. Box 291, Minneapolis, Minnesota 
55480-0291:
    1. Norwest Corporation, Minneapolis, Minnesota, Norwest Mortgage, 
Inc., Des Moines, Iowa, and Norwest Ventures, LLC, Des Moines, Iowa; to 
sell 50 percent of Edina Realty Mortgage, LLC, Minneapolis, Minnesota, 
an indirect non-bank subsidiary, to Edina Financial Services, Inc., 
Edina, Minnesota, an indirect wholly-owned subsidiary of MidAmerican 
Energy Holding Company, and thereby form a joint venture to engage in a 
residential mortgage lending and similar activities, pursuant to Sec.  
225.28(b)(1) of Regulation Y.
    2. Norwest Corporation, Minneapolis, Minnesota, Norwest Mortgage, 
Inc., Des Moines, Iowa, and Norwest Asset Company, Des Moines, Iowa; to 
sell 50 percent of RELS Title Services, LLC, Edina, Minnesota, and 50 
percent of RELS, LLC, San Diego, California, both indirect non-bank 
subsidiaries, to, respectively, First American Title Insurance Company 
and First American Real Estate Solutions, LLC, both of Santa Ana, 
California, and thereby form joint ventures to engage in residential 
real estate appraisal, consumer income verification, consumer credit 
reporting activities, title insurance agency, escrow and other 
residential real estate closing services activities, pursuant to Secs.  
225.28(b)(2) and (b)(11)(vii) of Regulation Y.

    Board of Governors of the Federal Reserve System, August 24, 
1998.
Robert deV. Frierson,
Associate Secretary of the Board.
[FR Doc. 98-23079 Filed 8-26-98; 8:45 am]
BILLING CODE 6210-01-F