[Federal Register Volume 63, Number 199 (Thursday, October 15, 1998)]
[Notices]
[Page 55390]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-27635]


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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 October 28, 1998.
    A. Federal Reserve Bank of Boston (Richard Walker, Community 
Affairs Officer) 600 Atlantic Avenue, Boston, Massachusetts 02106-2204:
    1. Machias Bancorp, MHC, and Machias Bancorp, Inc., both of 
Machias, Maine; to acquire M&M Consulting, LLC, Bangor, Maine, and 
thereby engage in consulting services to a number of financial 
institutions, pursuant to Sec.  225.28(b)(9) of Regulation Y.
    B. Federal Reserve Bank of San Francisco (Maria Villanueva, Manager 
of Analytical Support, Consumer Regulation Group) 101 Market Street, 
San Francisco, California 94105-1579:
    1. Banque Nationale de Paris, Paris, France; to engage de novo 
through its subsidiary, BNP Capital Markets, LLC, New York, New York, 
in underwriting and dealing to a limited extent in all types of debt 
securities (including, without limitation, corporate debt securities, 
sovereign debt securities, and debt securities convertible into equity 
securities) and equity securities (including, without limitation, 
common stock, preferred stock, American Depositary Receipts, Global 
Depository Receipts, securities convertible into equity securities and 
options, other direct and indirect equity ownership interests in 
corporations and other entities, warrants and other rights issued in 
connection with the above securities, and other rights issued by close-
end investment companies, but not including ownership interests in 
open-end investment companies); See e.g. Societe Generale, 84 Fed. Res. 
Bull. 680 (1998); in underwriting and dealing in bank-eligible 
securities, pursuant to Sec.  225.28(b)(8)(i) of Regulation Y; in 
acting as private placement agent, pursuant to Sec.  225.28(b)(7)(iii) 
of Regulation Y; in acting as a riskless principal, pursuant to Sec.  
225.28(b)(7)(ii) of Regulation Y; in acting as investment or financial 
advisor to any person, pursuant to Sec.  225.28(b)(6) of Regulation Y; 
in brokerage activities, pursuant to Sec.  225.28(b)(7)(i) of 
Regulation Y; in providing transactional services as agent with respect 
to a broad range of foreign exchange and derivatives instruments, 
pursuant to Sec.  225.28(b)(7)(v) of Regulation Y; in acting as 
principal in foreign exchange and certain derivatives transactions, 
pursuant to Sec.  225.28(b)(8)(ii) of Regulation Y; in making, 
acquiring, brokering or servicing loans or other extensions of credit, 
pursuant to Sec.  225.28(b)(1) of Regulation Y; in asset management, 
servicing and collection of assets of a type that an insured depository 
institution may originate and own, pursuant to Sec.  225.28(b)(2)(vi) 
of Regulation Y; and acquiring debt that is in default at the time of 
acquisition, pursuant to Sec.  225.28(b)(2)(vii) of Regulation Y.

    Board of Governors of the Federal Reserve System, October 8, 
1998.
Robert deV. Frierson,
Associate Secretary of the Board.
[FR Doc. 98-27635 Filed 10-14-98; 8:45 am]
BILLING CODE 6210-01-F