[Federal Register Volume 63, Number 235 (Tuesday, December 8, 1998)]
[Pages 67692-67693]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-32463]



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 December 22, 1998.

[[Page 67693]]

    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. First Security Corporation, Salt Lake City, Utah; to acquire Van 
Kasper & Company, San Francisco, California, and thereby indirectly 
acquire Van Kasper Advisers, Inc., San Francisco, California; Van 
Kasper Capital, San Francisco, California; Van Kasper Ventures, San 
Francisco, California. Van Kasper & Company is the general partner of 
the following limited partnerships: Van Kasper Growth Fund, L.P., San 
Francisco, California; Van Kasper American Labor Short-term Fixed 
Income Fund, L.P., San Francisco, California. Van Kasper & Company also 
controls 24.5 percent of Redwood Securities Group, Inc., San Francisco, 
    Notificant proposes to engage in providing credit and credit 
related services, pursuant to Secs.  225.28(b)(1) and (b)(2) of 
Regulation Y; providing investment and financial advisory services, 
pursuant to Sec.  225.28(b)(6) of Regulation Y; providing brokerage 
services and investment advisory services, both separately and on a 
combined basis in connection with the purchase and sale of securities 
and related credit, custodial and other incidental services, pursuant 
to Sec.  225.28(b)(7)(i) of Regulation Y; buying and selling all types 
of securities on a ``riskless principal'' basis, pursuant to Sec.  
225.28(b)(7)(ii) of Regulation Y; acting as agent in the private 
placement of all types of securities, pursuant to Sec.  
225.28(b)(7)(iii) of Regulation Y ; underwriting and dealing in 
obligations of the United States, general obligations of the states and 
their political subdivisions and other obligations, instruments and 
securities that member bank of the Federal Reserve System may 
underwrite or deal in, pursuant to Sec.  225.28(b)(8)(i) of Regulation 
Y; engaging as principal in investing and trading activities, pursuant 
to Sec.  225.28(b)(8)(ii) of Regulation Y; underwriting and dealing in 
the following securities (collectively ``Tier II Securities''): all 
types of debt, equity, and other securities (other than ownership 
interests in open-end investment companies offered and sold to U.S. 
persons that a member bank may not underwrite or deal in) (``bank 
ineligible securities'') as permissible by Board Orders, See, Fifth 
Third Bancorp, 84 Fed. Res. Bull. 677 (1998), and J.P. Morgan & Co., 75 
Fed. Res. Bull. 192 (1989); acting as agent in the sale of insurance 
and annuities, pursuant to Sec.  225.28(b)(8)(iv) of Regulation Y; and 
serving as general partner of private investment limited partnerships 
as permissible by Board Order, See, Dresdner Bank AC/Oeschle 
International Advisors, L.P., 84 Fed. Res. Bull. 361 (1998).

    Board of Governors of the Federal Reserve System, December 2, 
Robert deV. Frierson,
Associate Secretary of the Board.
[FR Doc. 98-32463 Filed 12-7-98; 8:45 am]