Notice of Proposals to Engage in Permissible Nonbanking Activities or to Acquire Companies that are Engaged in Permissible Nonbanking Activities

[Federal Register Volume 63, Number 222 (Wednesday, November 18, 1998)]
[Notices]
[Page 64089]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-30775]


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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.
    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 December 2, 1998.
    A. Federal Reserve Bank of Boston (Richard Walker, Community 
Affairs Officer) 600 Atlantic Avenue, Boston, Massachusetts 02106-2204:
    1. Fleet Financial Group, Inc., Boston, Massachusetts; to acquire 
Merrill Lynch Specialists, Inc., New York, New York, and thereby engage 
in dealing to a limited extent in all types of ineligible securities; 
and in providing securities brokerage services, pursuant to Sec.  
225.28(b)(7)(i) of Regulation Y, and incidental activities (including 
related securities credit activities and custodial services as well as 
acting as a ``conduit'' or ``intermediary'' in securities borrowing and 
lending) See Fleet Financial Group, Inc., 84 Fed. Res. Bull. 227 
(1998).

    Board of Governors of the Federal Reserve System, November 12, 
1998.
Robert deV. Frierson,
Associate Secretary of the Board.
[FR Doc. 98-30775 Filed 11-17-98; 8:45 am]
BILLING CODE 6210-01-F