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 226 (Tuesday, November 24, 1998)]
[Notices]
[Page 64966]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-31356]


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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 8, 1998.
    A. Federal Reserve Bank of San Francisco (Maria Villanueva, Manager 
of Analytical Support, Consumer Regulation Group) 101 Market Street, 
San Francisco, California 94105-1579:
    1. VIB Corporation, El Centro, California; to acquire Bank of 
Stockdale, F.S.B., Bakersfield, California, and thereby engage in the 
operation of a savings association pursuant to Sec.  225.28(b)(4)(ii) 
of Regulation Y. Comments on this application must be received by 
December 18, 1998.
    2. Wells Fargo & Company, San Francisco, California; and Norwest 
Mortgage, Inc., and Norwest Ventures, LLC, both of Des Moines, Iowa; to 
engage, as a joint venture, through its subsidiary Mortgage 
Professionals of Tampa Bay, LLC, Tampa, Florida in Residential mortgage 
lending pursuant to Sec.  225.28(b)(1) of Regulation Y.

    Board of Governors of the Federal Reserve System, November 18, 
1998.
Robert deV. Frierson,
Associate Secretary of the Board.
[FR Doc. 98-31356 Filed 11-23-98; 8:45 am]
BILLING CODE 6210-01-F