Banks and bank holding companies: Permissable nonbanking activities,

[Federal Register: June 2, 1999 (Volume 64, Number 105)]

[Notices]

[Page 29646]

From the Federal Register Online via GPO Access [wais.access.gpo.gov]

[DOCID:fr02jn99-65]

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 June 15, 1999.

1. Federal Reserve Bank of Atlanta (Lois Berthaume, Vice President) 104 Marietta Street, N.W., Atlanta, Georgia 30303-2713:

   1. BankFirst Corporation, Knoxville, Tennessee; to retain BankFirst Trust Company, Knoxville, Tennessee, and thereby engage in trust company activities, pursuant to Sec. 225.28(b)(5) of Regulation Y.

2. Federal Reserve Bank of San Francisco (Maria Villanueva, Manager of Analytical Support, Consumer Regulation Group) 101 Market Street, San Francisco, California 94105-1579:

   1. The Sumitomo Bank, Limited, Osaka, Japan; to retain an existing indirect interest in Daiwa SB Investments (USA) Ltd., New York, New York, and thereby engage in financial and investment advisory activities, pursuant to Sec. 225.28(b)(6) of Regulation Y.

   Board of Governors of the Federal Reserve System, May 26, 1999. Robert deV. Frierson, Associate Secretary of the Board.

   [FR Doc. 99-13855Filed6-1-99; 8:45 am]

   BILLING CODE 6210-01-F