[Federal Register Volume 64, Number 87 (Thursday, May 6, 1999)]
[Notices]
[Pages 24395-24396]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-11315]


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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

[[Page 24396]]

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 May 20, 1999.
    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. Philippine National Bank Metro Manila, The Philippines, and 
Century Holding Corporation, Beverly Hills, California; to acquire PNB 
Remittance Centers, Inc., Los Angeles, California, and thereby engage 
in money remittance activities, as previously approved by Board order; 
See Philippine Commercial International Bank, 77 Fed. Res. Bull. 270, 
(1991); Bergen Bank A/S. 76 Fed. Res. Bull. 457 (1990); and Norwest 
Corporation, 81 Fed. Res. Bull. 974 (1995).

    Board of Governors of the Federal Reserve System, April 30, 
1999.
Robert deV. Frierson,
Associate Secretary of the Board.
[FR Doc. 99-11315 Filed 5-5-99; 8:45 am]
BILLING CODE 6210-01-F