[Federal Register Volume 64, Number 59 (Monday, March 29, 1999)]
[Notices]
[Pages 14920-14921]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-7555]


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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 April 12, 1999.
    A. Federal Reserve Bank of Cleveland (Paul Kaboth, Banking 
Supervisor) 1455 East Sixth Street, Cleveland, Ohio 44101-2566:
    1. KeyCorp, Cleveland, Ohio, through its subsidiary, McDonald 
Investments, Inc., Cleveland, Ohio, to acquire NTH Holdings, Inc., 
Raleigh, North Carolina, and thereby indirectly acquire Trident 
Securities, Inc., Raleigh, North Carolina, and Trident Financial 
Corporation, Raleigh, North Carolina, and thereby engage in providing 
permissible trust company services, pursuant to Sec.  225.28(b)(5) of 
Regulation Y; providing financial advisory services, pursuant to Sec.  
225.28(b)(6) of Regulation Y; providing agency transactional services 
for customer investments, pursuant to Sec.  225.28(b)(7) of Regulation 
Y; in investment transactions as principal, pursuant to Sec.  
225.28(b)(8) of Regulation Y; underwriting (principally on a best 
efforts basis) and dealing in all types of debt and equity securities 
(other than ownership interests in open-end investment companies) on a 
limited basis and within the prudential framework previously imposed by 
the Board, and providing such services as

[[Page 14921]]

are a necessary incident thereto, See J.P. Morgan & Co., Inc., 75 Fed. 
Res. Bull. 192 (1989).
    B. Federal Reserve Bank of Chicago (Philip Jackson, Applications 
Officer) 230 South LaSalle Street, Chicago, Illinois 60690-1413:
    1. National Australia Bank Limited, Melbourne, Australia; to 
acquire, indirectly through Homeside Lending, Inc., Jacksonville, 
Florida, certain assets of First Chicago NBD Mortgage Company, Troy, 
Michigan, and thereby engage in extending credit and servicing loans 
and activities related to extending credit, pursuant to Secs.  
225.28(b)(1) and 225.28(b)(2) of Regulation Y.
    C. Federal Reserve Bank of Dallas (W. Arthur Tribble, Vice 
President) 2200 North Pearl Street, Dallas, Texas 75201-2272:
    1. Cullen/Frost Bankers, Inc., San Antonio, Texas, and New 
Galveston Company, Wilmington, Delaware; to engage de novo through 
their subsidiary, Frost Securities, Inc., Dallas, Texas, in financial & 
investment advisory services, pursuant to Sec.  225.28(b)(6) of 
Regulation Y; agency transactional services for customer investments, 
pursuant to Sec.  225.28(b)(7) of Regulation Y; investment transactions 
as principal, pursuant to Sec.  225.28(b)(8) of Regulation Y; extending 
credit and servicing loans and engaging in activities related to 
extending credit, pursuant to Secs.  225.28(b)(1) and (2) of Regulation 
Y; underwriting and dealing in all types of debt and equity securities 
(other than ownership interests in open-end investment companies) on a 
limited basis and with the prudential framework previously imposed by 
the Board, and providing such services as are a necessary incident 
thereto, See, J.P. Morgan & Co. Inc, 75 Fed. Res. Bull. 192 (1989).

    Board of Governors of the Federal Reserve System, March 23, 
1999.
Robert deV. Frierson,
Associate Secretary of the Board.
[FR Doc. 99-7555 Filed 3-26-99; 8:45 am]
BILLING CODE 6210-01-F