[Federal Register Volume 64, Number 212 (Wednesday, November 3, 1999)]
[Notices]
[Pages 59772-59773]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-28659]
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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 November 17, 1999.
A. Federal Reserve Bank of San Francisco (Maria Villanueva, Manager
of Analytical Support, Consumer
[[Page 59773]]
Regulation Group) 101 Market Street, San Francisco, California 94105-
1579:
1. Banque Nationale de Paris, and Paribas, both of Paris, France;
to acquire Paribas Corporation, New York, New York, and thereby
indirectly acquire Paribas Asset Management, Inc., New York, New York,
and Paribas Futures, Inc., New York, New York, and thereby engage in
underwriting and dealing to a limited extent in all types of equity
securities and debt securities that a member bank may not underwrite or
deal in, see First Security Corporation, 85 Fed Res. Bull. 207 (1999);
in acting as investment or financial advisor to any person, pursuant to
Sec. 224.28(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
underwriting and dealing in governmental obligations and money market
instruments, pursuant to Sec. 225.28(b)(8)(i) of Regulation Y; 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; in making, acquiring, brokering or
servicing loans or other extensions of credit for its own account or
for the account of others, pursuant to Sec. 225.28(b)(1) of Regulation
Y; in engaging in asset management, servicing and collection of assets
of a type that an insured depository institution may originate and own,
pursuant to Sec. 225.25(b)(2)(vi) of Regulation Y; in acquiring debt
that is in default at the time of acquisition, pursuant to Sec.
225.28(b)(2)(vii) of Regulation Y; in acting as a futures commission
merchant in the execution, clearance, or execution and clearance of
futures contracts and options on futures contracts, pursuant to Sec.
225.28(b)(7)(iv) of Regulation Y; in engaging as principal in certain
forward contracts, options, futures, options on futures, swaps and
similar contracts, pursuant to Sec. 225.28(b)(8)(ii)(B) or (C) 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
Dresdner Bank AG, 84 Fed. Res. Bull. 361 (1998).
Board of Governors of the Federal Reserve System, October 28,
1999.
Robert deV. Frierson,
Associate Secretary of the Board.
[FR Doc. 99-28659 Filed 11-2-99; 8:45 am]
BILLING CODE 6210-01-F