63344 Federal Register / Vol. 62, No. 229 / Friday, November 28, 1997 / Notices

1 Copies of the Minutes of the Federal Open

Market Committee meeting of September 30, 1997,

which include the domestic policy directive issued

at that meeting, are available upon request to the

Board of Governors of the Federal Reserve System,

Washington, D.C. 20551. The minutes are published

in the Federal Reserve Bulletin and in the Board’s

annual report.

inspection at the Federal Reserve Bank

indicated. The application also will be

available for inspection at the offices of

the Board of Governors. Interested

persons may express their views in

writing on the standards enumerated in

the BHC Act (12 U.S.C. 1842(c)). If the

proposal also involves the acquisition of

a nonbanking company, the review also

includes whether the acquisition of the

nonbanking company complies with the

standards in section 4 of the BHC Act.

Unless otherwise noted, nonbanking

activities will be conducted throughout

the United States.

Unless otherwise noted, comments

regarding each of these applications

must be received at the Reserve Bank

indicated or the offices of the Board of

Governors not later than December 23,

1997.

A. Federal Reserve Bank of Kansas

City (D. Michael Manies, Assistant Vice

President) 925 Grand Avenue, Kansas

City, Missouri 64198-0001:

1. Commerce Bancshares, Inc., and

CBI-Kansas, Inc., both of Kansas City,

Missouri; to acquire Pittsburg

Bancshares, Inc., Pittsburg, Kansas, and

thereby indirectly acquire City National

Bank, Pittsburg, Kansas.

B. Federal Reserve Bank of Dallas

(Genie D. Short, Vice President) 2200

North Pearl Street, Dallas, Texas 75201-

2272:

1. American State Financial Corp.,

Lubbock, Texas, and American State

Financial Corp Delaware, Wilmington,

Delaware; to merge with Security

Shares, Inc., Abilene, Texas, and

thereby indirectly acquire Security State

Bank, Abilene, Texas.

Board of Governors of the Federal Reserve

System, November 24, 1997.

Jennifer J. Johnson,

Deputy Secretary of the Board.

[FR Doc. 97–31312 Filed 11–26–97; 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 23, 1997.

A. Federal Reserve Bank of Chicago

(Philip Jackson, Applications Officer)

230 South LaSalle Street, Chicago,

Illinois 60690-1413:

1. Marshall & Ilsley Corporation,

Milwaukee, Wisconsin; to acquire

Advantage Bancorp, Inc., Kenosha,

Wisconsin, and thereby indirectly

acquire Advantage Bank, FSB, Kenosha,

Wisconsin, and thereby engage in the

operation of a savings association,

pursuant to § 225.28(b)(4)(i) of the

Board’s Regulation Y.

Board of Governors of the Federal Reserve

System, November 21, 1997.

Jennifer J. Johnson,

Deputy Secretary of the Board.

[FR Doc. 97–31142 Filed 11–26–97; 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 23, 1997.

A. Federal Reserve Bank of New

York (Betsy Buttrill White, Senior Vice

President) 33 Liberty Street, New York,

New York 10045-0001:

1. North Fork Bancorporation, Inc.,

Melville, New York; to acquire New

York Bancorp, Inc., New York, New

York, and thereby indirectly acquire

Home Federal Savings Bank, New York,

New York, and thereby engage in

operating a savings association,

pursuant to § 225.28(b)(4)(ii) of the

Board’s Regulation Y.

Board of Governors of the Federal Reserve

System, November 24, 1997.

Jennifer J. Johnson,

Deputy Secretary of the Board.

[FR Doc. 97–31313 Filed 11–26–97; 8:45 am]

BILLING CODE 6210–01–F

FEDERAL RESERVE SYSTEM

Federal Open Market Committee;

Domestic Policy Directive of

September 30, 1997

In accordance with § 271.5 of its rules

regarding availability of information (12

CFR part 271), there is set forth below

the domestic policy directive issued by

the Federal Open Market Committee at

its meeting held on September 30,

1997.1 The directive was issued to the

Federal Reserve Bank of New York as

follows:

The information reviewed at this

meeting suggests that growth of

economic activity remains brisk. In

labor markets, hiring continued robust

over the summer months and the

civilian unemployment rate, at 4.9

percent in August, remained near its

low for the current economic expansion.

Industrial production increased

considerably further in July and August.

Retail sales have risen sharply over

recent months after a pause during the

spring. Housing starts declined in July

and August, but home sales have been

strong. Business fixed investment has

increased substantially further since