[Federal Register Volume 62, Number 200 (Thursday, October 16, 1997)]
[Notices]
[Pages 53784-53785]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-27307]


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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

[[Page 53785]]

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 October 29, 1997.
    A. Federal Reserve Bank of Minneapolis (Karen L. Grandstrand, Vice 
President) 250 Marquette Avenue, Minneapolis, Minnesota 55480-2171:
    1. U.S. Bancorp, Minneapolis, Minnesota; to engage de novo through 
its subsidiary, U.S. Bancorp Investments, Inc., Minneapolis, Minnesota, 
in underwriting and dealing in commercial paper, municipal revenue 
bonds, mortgage-backed securities, and consumer-receivable-related 
securities. See, Citicorp, J.P. Morgan & Co., Inc., and Bankers Trust 
New York Corp., 73 Fed. Res. Bull. 473 (1987); extending credit and 
servicing loans, pursuant to Sec.  225.28(b)(1) of the Board's 
Regulation Y; arranging commercial real estate equity financing, asset 
management servicing and collection activities, and acquiring debt in 
default, pursuant to Secs.  225.28(b)(2)(ii), (vi), and (vii) of the 
Board's Regulation Y; leasing personal or real property, pursuant to 
Sec.  225.28(b)(3) of the Board's Regulation Y; financial and 
investment advisory activities, pursuant to Sec.  225.28(b)(6) of the 
Board's Regulation Y; agency transactional services for customer 
investments, pursuant to Sec.  225.28(b)(7) of the Board's Regulation 
Y; investment transactions as principal, pursuant to Sec.  225.28(b)(8) 
of the Board's Regulation Y; management consulting and counseling 
activities, pursuant to Secs.  225.28(b)(9)(i)(A)(1) and (2) of the 
Board's Regulation Y; and insurance agency activities, pursuant to 
Sec.  225.28(b)(11)(vii) of the Board's Regulation Y.

    Board of Governors of the Federal Reserve System, October 9, 
1997.
William W. Wiles,
Secretary of the Board.
[FR Doc. 97-27307 Filed 10-15-97; 8:45 am]
BILLING CODE 6210-01-F