[Federal Register Volume 62, Number 217 (Monday, November 10, 1997)]
[Notices]
[Page 60513]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-29517]


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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 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 November 24, 1997.
    A. Federal Reserve Bank of New York (Betsy Buttrill White, Senior 
Vice President) 33 Liberty Street, New York, New York 10045-0001:
    1. National Bank of Canada, Montreal, Quebec, Canada; to acquire 
NBC Levesque International Ltd., Montreal, Quebec, Canada, and thereby 
engage in buying and selling in the secondary market all types of 
securities on the order of a customer as a ``riskless principal'' to 
the extent of engaging in transactions in which the company, after 
receiving an order to buy (or sell) a security from a customer, 
purchases (or sells) the security for its own account to offset a 
contemporaneous sale to (or purchase from) a customer, subject to the 
limitations and conditions, pursuant to Sec.  225.28(b)(7)(ii) of the 
Board's Regulation Y, and acting as agent for the private placement of 
securities, pursuant to Sec.  225.28(b)(7)(iii) of the Board's 
Regulation Y.
    2. The Bank of Nova Scotia, Toronto, Ontario, Canada; to acquire 
Iron Mountain Depository Corporation, New York, New York, and thereby 
engage in buying, selling and storing bars, rounds, bullion, and coins 
of gold, silver platinum, palladium, copper, and any other metal 
approved by the Board, for company's own account and the account of 
others, and providing incidential services such as arranging for 
storage, safe custody, assaying, and shipment, pursuant to Sec.  
225.28(b)(8)(iii) of the Board's Regulation Y.

    Board of Governors of the Federal Reserve System, November 4, 
1997.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 97-29517 Filed 11-7-97; 8:45 am]
BILLING CODE 6210-01-F