[Federal Register Volume 65, Number 206 (Tuesday, October 24, 2000)]
[Notices]
[Page 63591]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 00-27194]



[[Page 63591]]

-----------------------------------------------------------------------

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 November 7, 2000.
    A. Federal Reserve Bank of New York (Betsy Buttrill White, Senior 
Vice President) 33 Liberty Street, New York, New York 10045-0001:
    1. Dresdner Bank Aktiengesellschaft, Frankfurt, Germany; to acquire 
indirectly all the voting shares of Wasserstein Perella Group, Inc, New 
York, New York, and its subsidiaries, including Wasserstein Perella & 
Co., Inc., New York, New York, and thereby engage in financial and 
investment advisory activities, including among other things providing 
advice in connection with mergers, acquisitions, divestitures, 
investments, joint ventures, leveraged buyouts, recapitalizations, 
capital structuring, financing transactions, and similar transactions, 
and conducting financial feasibility studies, pursuant to 
Sec. 225.28(b)(6) of Regulation Y; and Wasserstein Perella Securities, 
Inc., New York, New York, a registered broker-dealer, and thereby 
engage in underwriting and dealing in, to a limited extent, all types 
of debt and equity securities (other than ownership interests in open-
end investment companies) both in the United States and globally, see 
Travelers Group, Inc., 84 Fed. Res. Bull. 985 (September 1998); Fleet 
Financial Group, Inc., 84 Fed. Res. Bull. 227 (March 1998); SunTrust 
Banks, Inc., 84 Fed. Res. Bull. 126 (February 1998); First Union 
Corporation, 84 Fed. Res. Bull. 59 (January 1998); Canadian Imperial 
Bank of Commerce, 83 Fed. Res. Bull. 1008 (December 1997); BankBoston 
Corporation, 84 Fed. Res. Bull. 850 (1998); BankAmerica Corporation, 83 
Fed. Res. Bull. 913 (November 1997); BB&T Corporation, 83 Fed. Res. 
Bull. 919 (November 1997); KeyCorp, 83 Fed. Res. Bull. 921 (November 
1997); NationsBank Corporation, 83 Fed. Res. Bull. 924 (November 1997); 
Swiss Bank Corporation, 83 Fed. Res. Bull. 786 (September 1997); First 
Chicago NBD Corporation, 83 Fed. Res. Bull. 784 (September 1997); 
Bankers Trust New York Corporation, 83 Fed. Res. Bull. 780 (September 
1997); and in the following listed nonbanking activities both in the 
United States and globally (with the revenues derived from these 
activities considered to be eligible revenues); extending credit and 
servicing loans, pursuant to Sec. 225.28(b)(1) of Regulation Y; 
acquiring debt that is in default at the time of acquisition, pursuant 
to Sec. 225.28(b)(2)(vii) of Regulation Y; providing financial and 
investment advice, pursuant to Sec. 225.28(b)(6) of Regulation Y; 
providing securities brokerage services as agent for customers, 
pursuant to Sec. 225.28(b)(7)(i) of Regulation Y; 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; acting as agent for the private placement of securities, 
pursuant to Sec. 225.28(b)(7)(iii) of Regulation Y; and buying and 
selling permissible derivatives contracts as principal, pursuant to 
Sec. 225.28(b)(8)(ii) of Regulation Y.

    Board of Governors of the Federal Reserve System, October 18, 
2000.
Robert deV. Frierson,
Associate Secretary of the Board.
[FR Doc. 00-27194 Filed 10-23-00; 8:45 am]
BILLING CODE 6210-01-P