[Federal Register Volume 63, Number 203 (Wednesday, October 21, 1998)]
[Notices]
[Page 56189]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-28186]


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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; Correction

    This notice corrects a notice (FR Doc. 98-27635) published on page 
55390 of the issue for Thursday, October 15, 1998.
    Under the Federal Reserve Bank of San Francisco heading, the entry 
for Banque Nationale de Paris, Paris, France, is revised to read as 
follows:
    A. 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. These activities will be conducted worldwide.
    Comments on this application must be received by October 28, 1998.

    Board of Governors of the Federal Reserve System, October 15, 
1998.
Robert deV. Frierson,
Associate Secretary of the Board.
[FR Doc. 98-28186 Filed 10-20-98; 8:45 am]
BILLING CODE 6210-01-P