Notice of Proposals To Engage in Permissible Nonbanking Activities or To Acquire Companies That are Engaged in Permissible Nonbanking Activities

[Federal Register Volume 61, Number 70 (Wednesday, April 10, 1996)]
[Notices]
[Pages 15946-15947]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-8894]



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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 that engages either 
directly or through a subsidiary or other company, in a nonbanking 
activity that is listed in Sec.  225.25 of Regulation Y (12 CFR 225.25) 
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. Once the notice has been accepted for processing, it will 
also 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, including whether consummation of the proposal can 
``reasonably be expected to produce benefits to the public, such as 
greater convenience, increased competition, or gains in efficiency, 
that outweigh possible adverse effects, such as undue concentration of 
resources, decreased or unfair competition, conflicts of interests, or 
unsound banking practices'' (12 U.S.C. 1843). Any request for a hearing 
on this question must be accompanied by a statement of the reasons a 
written presentation would not suffice in lieu of a hearing, 
identifying specifically any questions of fact that are in dispute, 
summarizing the evidence that would be presented at a hearing, and 
indicating how the party

[[Page 15947]]
commenting would be aggrieved by approval of the proposal.
    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 April 24, 1996.
    A. Federal Reserve Bank of New York (Christopher J. McCurdy, Senior 
Vice President) 33 Liberty Street, New York, New York 10045:
    1. Industrial Bank of Japan, Limited, Tokyo, Japan; to acquire 
Government Pricing Information Systems, Inc., New York, New York, and 
thereby engage in data processing activities pursuant to Sec.  
225.25(b)(7) of the Board's Regulation Y.
    2. Societe Generale, Paris, France; to engage de novo through its 
subsidiary, FIMAT Futures USA, Inc., New York, New York, in expanding 
its existing authority to provide securities brokerage and investment 
advisory services with respect to all classes of securities to the full 
extent pursuant to Secs.  225.25(b)(4) and (15) of the Board's 
Regulation Y.
    B. Federal Reserve Bank of Cleveland (John J. Wixted, Jr., Vice 
President) 1455 East Sixth Street, Cleveland, Ohio 44101:
    1. PNC Bank Corp., Pittsburgh, Pennsylvania; through its wholly-
owned subsidiary, PNC Venture Corp., to make an approximate 20 percent 
voting equity investment in BankVest Capital Corp, Westboro, 
Massachusetts, and thereby engage in lease financing activities 
pursuant to Sec.  225.25(b)(5) of the Board's Regulation Y.
    C. Federal Reserve Bank of St. Louis (Randall C. Sumner, Vice 
President) 411 Locust Street, St. Louis, Missouri 63166:
    1. Farmers Bancshares, Inc., Hardinsburg, Kentucky; to engage de 
novo in the selling of insurance directly related to extensions of 
credit made by its finance company subsidiary, Farmers Bancshares 
Finance Corp., Inc., Hardinsburg, Kentucky, pursuant to Sec.  
225.25(b)(8)(ii) of the Board's Regulation Y.
    D. Federal Reserve Bank of Kansas City (John E. Yorke, Senior Vice 
President) 925 Grand Avenue, Kansas City, Missouri 64198:
    1. FEO Investments, Hoskins, Nebraska; to engage de novo through 
its subsidiary, Meadow Ridge Partners, L.L.C., Norfolk, Nebraska, in 
community development activities pursuant to Sec.  225.25(b)(6) of the 
Board's Regulation Y.

    Board of Governors of the Federal Reserve System, April 4, 1996.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 96-8894 Filed 4-9-96; 8:45 am]
BILLING CODE 6210-01-F