[Federal Register Volume 64, Number 127 (Friday, July 2, 1999)]
[Notices]
[Page 36018]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-16918]



[[Page 36018]]

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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 July 19, 1999.
    A. Federal Reserve Bank of New York (Betsy Buttrill White, Senior 
Vice President) 33 Liberty Street, New York, New York 10045-0001:
    1. HSBC Holdings PLC, London, England; HSBC Finance (Netherlands) 
Limited, London, England; HSBC Holdings BV, Amsterdam, The Netherlands, 
to engage de novo through HSBC Asset Management Americas Inc., New 
York, New York, in providing financial and investment advisory 
services, pursuant to Sec.  225.28(b)(6) of Regulation Y; providing 
securities brokerage, riskless principal, private placement, futures 
commission merchant, and other agency transactional services for 
customers, pursuant to Sec.  225.28(b)(7) of Regulation Y, and acting 
as an investment advisor and general partner for private investment 
limited partnerships that invest in assets in which a bank holding 
company is permitted to invest, see, Dresdner Bank AG, 84 Fed. reg. 
Bull. 361 (1998); Cooperatieve Centrale Raiffeisen-Boerenleenbank, 
B.A., Rabobank Nederland, 84 Fed. Res. Bull. 852 (1998).

    Board of Governors of the Federal Reserve System, June 29, 1999.
Robert deV. Frierson,
Associate Secretary of the Board.
[FR Doc. 99-16918 Filed 7-1-99; 8:45 am]
BILLING CODE 6210-01-F