[Federal Register Volume 64, Number 109 (Tuesday, June 8, 1999)]
[Notices]
[Pages 30521-30522]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-14484]


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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 June 23, 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:

[[Page 30522]]

    1. Banque Nationale de Paris, Paris, France; to acquire Charter 
Atlantic Corporation, New York, New York, and thereby engage in acting 
as investment advisor to any person, pursuant to Sec.  225.28(b)(6) of 
Regulation Y; in providing securities brokerage services and incidental 
activities, as agent for the account of customers, pursuant to Sec.  
225.28(b)(7)(i) of Regulation Y; in buying and selling in the secondary 
market all types of securities on the order of customers as a riskless 
principal, pursuant to Sec.  225.28(b)(7)(ii) of Regulation Y; in 
acting as agent in the private placement of all types of securities, 
including providing related advisory services, pursuant to Sec.  
225.28(b)(7)(iii) of Regulation Y; in providing to customers as agent 
transactional services, pursuant to Sec.  225.28(b)(7)(v) of Regulation 
Y; in engaging as principal in (i) underwriting and dealing in 
governmental obligations and money market instruments, pursuant to 
Sec.  225.28(b)((8)(i) of Regulation Y, and in investing and trading 
in: foreign exchange, and forward contracts, options, futures, options 
on futures, swaps and similar contracts, whether traded on exchanges or 
not, based on any rate, price, financial asset, nonfinancial asset or 
group of assets, pursuant to Sec.  225.28(b)((8)(ii) of Regulation Y; 
and in serving as the investment advisor to and the general partner of, 
and holding and placing equity interests in, certain investment funds 
which invest only in securities and other instruments which Notificant 
would be permitted to hold directly under the Bank Holding Company Act, 
including acting as a commodity pool operator for private investment 
funds organized as commodity pools, see USB AG, 84 Fed. Res. Bull. 684 
(1998).

    Board of Governors of the Federal Reserve System, June 3, 1999.
Robert deV. Frierson,
Associate Secretary of the Board.
[FR Doc. 99-14484 Filed 6-7-99; 8:45 am]
BILLING CODE 6210-01-F