[Federal Register Volume 68, Number 97 (Tuesday, May 20, 2003)]
[Notices]
[Page 27565]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-12501]


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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 June 3, 2003.
    A. Federal Reserve Bank of New York (Betsy Buttrill White, Senior 
Vice President) 33 Liberty Street, New York, New York 10045-0001:
    1. Commerzbank Aktiengesellschaft, Frankfurt, Germany; to engage de 
novo through its subsidiary, Commerzbank Capital Markets Corporation, 
New York, New York, in serving as the investment adviser to and the 
general partner or general member of, and holding and placing equity 
interest in, certain investment funds which invest only in securities 
and other assets which are permitted to be held directly under the Bank 
Holding Company Act (the ``BHC Act''), including acting as a commodity 
pool operator for private investment funds organized as commodity pools 
that invest in assets which a bank holding company is permitted to hold 
directly under the BHC Act, as permitted under Board precedent, see 
First Security Corporation, 85 Fed. Res. Bull. 207 (1999), Dresdner 
Bank AG, 84 Fed. Res. Bull. 361 (1998).

    Board of Governors of the Federal Reserve System, May 14, 2003.
Robert deV. Frierson,
Deputy Secretary of the Board.
[FR Doc. 03-12501 Filed 5-19-03; 8:45 am]
BILLING CODE 6210-01-S