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

[Federal Register Volume 64, Number 54 (Monday, March 22, 1999)]
[Notices]
[Page 13799]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-6825]


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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 April 5, 1999.
    A. Federal Reserve Bank of New York (Betsy Buttrill White, Senior 
Vice President) 33 Liberty Street, New York, New York 10045-0001:
    1. BankBoston Corporation, Boston, Massachusetts; The Bank of New 
York Company, Inc., New York, New York; The Chase Manhattan 
Corporation, New York, New York; Comerica Incorporated, Detroit, 
Michigan; First Union Corporation, Charlotte, North Carolina; Fleet 
Financial Group, Inc., Boston, Massachusetts; HSBC Holdings plc, 
London, England; HSBC Holdings BV, Amsterdam, Netherlands; HSBC 
Americas, Inc., Buffalo, New York; The Royal Bank of Scotland Group, 
plc, Edinburgh, United Kingdom; The Royal Bank of Scotland plc, 
Edinburgh, United Kingdom; Citizens Financial Group, Inc., Providence, 
Rhode Island; and Summit Bancorp, Princeton, New Jersey; to acquire for 
NYCE Corporation, Woodcliff Lake, New Jersey (NYCE), all the stock of 
Magic Line, Inc., Dearborn, Michigan, and the subsequent merger of 
Magic Line, Inc., with and into NYCE Midwest, Inc., a wholly-owned 
subsidiary of NYCE, and thereby engage in the following data processing 
and check verification activities including network services, EFT 
processing, and remote branching services, pursuant to Secs.  
225.28(b)(14) and (b)(2)(iii) of Regulation Y. See also, The Bank of 
New York Company, Inc, 80 Fed. Res. Bull. 1107 (1994); Banc One 
Corporation, 81 Fed. Res. Bull. 491 (1995); and Barnett Banks, Inc, 83 
Fed. Res. Bull. 131 (1996).

    Board of Governors of the Federal Reserve System, March 16, 
1999.
Robert deV. Frierson,
Associate Secretary of the Board.
[FR Doc. 99-6825 Filed 3-19-99; 8:45 am]
BILLING CODE 6210-01-F