Federal Register / Vol. 62, No. 239 / Friday, December 12, 1997 / Notices 65429

1. Lenox Financial Services Corp.,

Lenox, Massachusetts; to become a bank

holding company by acquiring 100

percent of the coring shares of Lenox

Savings Bank, Lenox, Massachusetts.

In connection with this application,

Applicant also has applied to acquire

Trust Company of the Berkshires, N.A.,

Pittsfield, Massachusetts, and thereby

engage in trust company activities,

pursuant to § 225.28(b)(5) of the Board’s

Regulation Y.

B. Federal Reserve Bank of Cleveland

(Jeffery Hirsch, Banking Supervisor)

1455 East Sixth Street, Cleveland, Ohio

44101-2566:

1. National City Corporation,

Cleveland, Ohio; to merge with First of

America Bank Corporation, Kalamazoo,

Michigan, and thereby indirectly

acquire First of America Bank -

Michigan, N.A., Kalamazoo, Michigan,

and First of America Bank - Illinois,

N.A., Bannockburn, Illinois.

In connection with this application,

Applicant has also applied to acquire

First of America Community

Development Corporation, Kalamazoo,

Michigan, and thereby indirectly

acquire: (1) SunAmerica Affordable

Housing Partners, Carson City, Nevada,

and thereby engage in community

development financing and investment

activities, pursuant to § 225.28 (b)(12) of

the Board’s Regulation Y; (2) First of

America Insurance Company,

Kalamazoo, Michigan, and thereby

engage in credit life and disability

insurance activities, pursuant to §

225.28 (b)(11) of the Board’s Regulation

Y; (3) First of America Securities, Inc.,

Kalamzoo, Michigan, and thereby

engage in discount and full service

brokerage activities through agency

transactional services for consumer

investments, pursuant to § 225.28 (b)(7)

of the Board’s Regulation Y; investment

transactions as principal, pursuant to §

225.28(b)(8) of the Board’s Regulation Y;

financial and investment advisory

activities, pursuant to § 225.28(b)(6) of

the Board’s Regulation Y; extending

credit and servicing loans, pursuant to

§ 225.28(b)(1) of the Board’s Regulation

Y; and in underwriting and dealing to

a limited extent, in all types of debt and

equity securities, (see Citicorp, et al., 73

Fed. Res. Bull. 473 (1987) (1987 Section

20 Order) as modified, and First of

America Bank Corporation, 80 Fed. Res.

Bull. 1120 (1994); and (4) First of

America Trust Company, Peoria,

Illinois, and thereby indirectly acquire

New England Trust Company,

Providence, Rhode Island, and thereby

engage in trust activities and financial

and investment advisory activities,

pursuant to §§ 225.28 (b)(5) and (b)(6)

of the Board’s Regulation Y.

Board of Governors of the Federal Reserve

System, December 9, 1997.

Jennifer J. Johnson,

Deputy Secretary of the Board.

[FR Doc. 97–32557 Filed 12–11–97; 8:45 am]

BILLING CODE 6210–01–F

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 § 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 29, 1997.

A. Federal Reserve Bank of Boston

(Richard Walker, Community Affairs

Officer) 600 Atlantic Avenue, Boston,

Massachusetts 02106-2204:

1. Fleet Financial Group, Inc., Boston,

Massachusetts (Notificant); to acquire

through its wholly owned subsidiary,

Fleet Securities, Inc., New York, New

York (Section 20 Subsidiary), all the

shares of The Quick & Reilly Group,

Inc., Palm Beach, Florida (Q&R Group),

and all the shares of the subsidiaries of

Q&R Group, including JJC Specialist

Corp., New York, New York, Nash,

Weiss & Co., Jersey City, New Jersey,

and Sure Trade Corp., New York, New

York, and thereby engage in certain

nonbanking activities. Notificant

proposes to engage in the following: (1)

extending credit and servicing loans,

pursuant to § 225.28(b)(1) of the Board’s

Regulation Y; (2) providing services

related to extending credit, pursuant to

§ 225.28(b)(2) of the Board’s Regulation

Y; (3) providing financial and

investment advisory services, pursuant

to § 225.28(b)(6) of the Board’s

Regulation Y; (4) providing securities

brokerage, riskless principal, private

placement, and other agency

transactional services, pursuant to §

225.28(b)(7) of the Board’s Regulation Y;

(5) underwriting and dealing in

government obligations and money

market instruments (‘‘bank-eligible

securities’’) and buying and selling

bullion and related activities, pursuant

to § 225.28(b)(8) of the Board’s

Regulation Y; (6) providing data

processing services, pursuant to §

225.28(b)(14) of the Board’s Regulation

Y, and activities incidental thereto; and

(7) providing administrative services to

open-end investment companies, see

Commerzbank AG, 83 Fed. Res. Bull.

678 (1997) and Bankers Trust New York

Corp., 83 Fed. Res. Bull. 780 (1997).

Notificant also proposes to provide

certain swaps-related back-office and

middle-office services in connection

with the provision of agency

transactional services, pursuant to §

225.28(b)(7) of the Board’s Regulation Y.

In addition, Notificant proposes to

engage in underwriting and dealing to a

limited extent in all types of equity and

debt securities that a state member bank

may not underwrite and deal in (‘‘bankineligible securities’’), except ownership

interests in open-end investment

companies, see J.P. Morgan & Co., Inc.,

75 Fed. Res. Bull. 192 (1989) and

Citicorp. 73 Fed. Res. Bull. 473 (1987).

In connection with these activities,

Notificant proposes to act as a specialist

for certain issues listed on the New York

Sock Exchange (NYSE).

B. Federal Reserve Bank of Atlanta

(Lois Berthaume, Vice President) 104

Marietta Street, N.W., Atlanta, Georgia

30303-2713:

1. Middle Georgia Corporation,

Ellaville, Georgia; to acquire Fairbanco

Holding Company, Inc., Fairburn,

Georgia, and thereby indirectly acquire

Fairburn Banking Company, Fairburn,

Georgia, and thereby engage in

operating a savings association,

pursuant to § 225.28(b)(4) of the Board’s

Regulation Y. This activity will be

conducted throughout the State of

Georgia. Comments regarding this

application must be received by January

8, 1998.

Board of Governors of the Federal Reserve

System, December 9, 1997.

Jennifer J. Johnson,

Deputy Secretary of the Board.

[FR Doc. 97–32554 Filed 12–11–97; 8:45 am]

BILLING CODE 6210–01–F