[Federal Register Volume 64, Number 130 (Thursday, July 8, 1999)]
[Notices]
[Pages 36876-36877]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-17271]


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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

[[Page 36877]]

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 21, 1999.
    A. Federal Reserve Bank of Richmond (A. Linwood Gill III, Assistant 
Vice President) 701 East Byrd Street, Richmond, Virginia 23261-4528:
    1. FNB Financial Services Corporation, Reidsville, North Carolina; 
to acquire Black Diamond Savings Bank, FSB, Norton, Virginia, and 
thereby engage in operating a savings association, pursuant to Sec.  
225.28(b)(4)(ii) of Regulation Y. Comments regarding this application 
must be received not later than July 30, 1999.
    B. Federal Reserve Bank of San Francisco (Maria Villanueva, Manager 
of Analytical Support, Consumer Regulation Group) 101 Market Street, 
San Francisco, California 94105-1579:
    1. Wells Fargo & Company, San Francisco, California; Norwest 
Mortgage, Inc., Des Moines, Iowa, and Southwest Partners, Inc., Des 
Moines, Iowa; to engage de novo through a joint venture subsidiary, 
United Mortgage Group, San Diego, California, in extending credit and 
servicing loans, pursuant to Sec.  225.28(b)(1) of Regulation Y.

    Board of Governors of the Federal Reserve System, July 1, 1999.
Robert deV. Frierson,
Associate Secretary of the Board.
[FR Doc. 99-17271 Filed 7-7-99; 8:45 am]
BILLING CODE 6210-01-F