[Federal Register Volume 67, Number 140 (Monday, July 22, 2002)]
[Notices]
[Page 47804]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 02-18466]


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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 August 6, 2002.
    A. Federal Reserve Bank of New York (Betsy Buttrill White, Senior 
Vice President) 33 Liberty Street, New York, New York 10045-0001:
    1. Bayerische Hypo-und Vereinsbank AG, Munich, Germany; which is 
partially owned by Munchener Ruckversicherungs-Gesellschaft AG, Munich, 
Germany, which is partially owned by Allianz AG, Munich, Germany; to 
engage de novo through its subsidiary, Identrus, LLC, New York, New 
York, in certain data processing activities, pursuant to Sec.  
225.28(b)(14), of Regulation Y. See also The Royal Bank of Canada, 82 
Fed. Res. Bull. 363 (1996) (the ``First Integrion Order'') and the 
Royal Bank of Canada, 83 Fed. Res. Bull. 135 (1997) (the ``Second 
Integrion Order''; and together with the First Integrion Order, the 
``Integrion Orders''). See also, Cardinal Bancshares, Inc., 82 Fed. 
Res. Bull. 674 (1996) (permitting bank holding company to provide data 
processing and transmission services to unaffiliated institutions to 
assist those institutions in offering banking and financial services to 
their customers over the internet); Toronto-Dominion Bank, 83 Fed. Res. 
Bull. 335 (1997) (permitting bank holding company to provide computer 
software to broker-dealers and other financial institutions to permit 
those institutions to execute purchases and sales of securities for 
their customers).

    Board of Governors of the Federal Reserve System, July 17, 2002.
Robert deV. Frierson,
Deputy Secretary of the Board.
[FR Doc.02-18466 Filed 7-19-02; 8:45 am]
BILLING CODE 6210-01-S