[Federal Register Volume 65, Number 136 (Friday, July 14, 2000)]
[Notices]
[Pages 43763-43764]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 00-17823]


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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. Additional information on all 
bank holding companies may be obtained from the National Information 
Center website at www.ffiec.gov/nic/.
    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 28, 2000.
    A. Federal Reserve Bank of New York (Betsy Buttrill White, Senior 
Vice President) 33 Liberty Street, New York, New York 10045-0001:
    1. UniCredito Italiano, S.p.A., Milan, Italy; to acquire The 
Pioneer Group, Inc., Boston, Massachusetts, and thereby engage in 
acting as investment and financial adviser to any person, pursuant to 
Sec. 225.28(b)(6) of Regulation Y; acting as investment adviser to 
variable annuities investment fund, see Banque Nationale de Paris, 89 
Fed. Res. Bull. 638 (1994); providing administrative services to mutual 
funds, see Lloyds TSB Group, plc, 84 Fed. Res. Bull. 116 (1998); acting 
directly or

[[Page 43764]]

indirectly as general partner or, managing member in, or otherwise 
controlling investment funds that invest in up to 5 percent of the 
voting securities and 25 percent of the nonvoting equity of companies 
under section 4(c)7 of the Bank Holding Company Act and The Dresdner 
Bank, A.G., 84 Fed. Res. Bull. 361, (1998), and The Bessemer Group, 82 
Fed. Res. Bull. 569 (1996); acting as a commodity pool operator, see 
The Dresdner Bank, A.G., 84 Fed. Res. Bull. 361, (1998), and The 
Bessemer Group, 82 Fed. Res. Bull. 569 (1996); and conducting agency 
transactional services for customer investments, pursuant to 
Sec. 225.28(b)(7) of Regulation Y.

    Board of Governors of the Federal Reserve System, July 10, 2000.
Robert deV. Frierson,
Associate Secretary of the Board.
[FR Doc. 00-17823 Filed 7-13-00; 8:45 am]
BILLING CODE 6210-01-P