Federal Register / Vol. 62, No. 32 / Tuesday, February 18, 1997 / Notices 7231

Reserve Bank indicated. Once the

notices have been accepted for

processing, they will also be available

for inspection at the offices of the Board

of Governors. Interested persons may

express their views in writing to the

Reserve Bank indicated for that notice

or to the offices of the Board of

Governors. Comments must be received

not later than March 4, 1997.

A. Federal Reserve Bank of Dallas

(Genie D. Short, Vice President) 2200

North Pearl Street, Dallas, Texas 75201-

2272:

1. Clyde Crews, as Trustee for the

Grossman Trust, both of San Antonio,

Texas; to retain power to vote 99

percent of the voting shares of

InterContinental Bank Shares

Corporation, San Antonio, Texas, and

thereby indirectly acquire

InterContinental National Bank, San

Antonio, Texas.

Board of Governors of the Federal Reserve

System, February 11, 1997.

Jennifer J. Johnson,

Deputy Secretary of the Board.

[FR Doc. 97–3870 Filed 2–14–97; 8:45 am]

BILLING CODE 6210–01–F

Formations of, Acquisitions by, and

Mergers of Bank Holding Companies

The companies listed in this notice

have applied to the Board for approval,

pursuant to the Bank Holding Company

Act of 1956 (12 U.S.C. 1841 et seq.)

(BHC Act), Regulation Y (12 CFR Part

225), and all other applicable statutes

and regulations to become a bank

holding company and/or to acquire the

assets or the ownership of, control of, or

the power to vote shares of a bank or

bank holding company and all of the

banks and nonbanking companies

owned by the bank holding company,

including the companies listed below.

The applications listed below, as well

as other related filings required by the

Board, are available for immediate

inspection at the Federal Reserve Bank

indicated. Once the application has

been accepted for processing, it will also

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,

including whether the acquisition of the

nonbanking company can ‘‘reasonably

be expected to produce benefits to the

public, such as greater convenience,

increased competition, or gains in

efficiency, that outweigh possible

adverse effects, such as undue

concentration of resources, decreased or

unfair competition, conflicts of

interests, or unsound banking practices’’

(12 U.S.C. 1843). 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 March 14,

1997.

A.Federal Reserve Bank of

Philadelphia (Michael E. Collins, Senior

Vice President) 100 North 6th Street,

Philadelphia, Pennsylvania 19105-1521:

1. USA BancShares, Inc.,

Philadelphia, Pennsylvania; to acquire

between 5.0 percent of, and 9.9 percent

of, the voting shares of Regent

Bancshares Corp., Philadelphia,

Pennsylvania, and thereby indirectly

acquire Regent Bank, Philadelphia,

Pennsylvania.

B. Federal Reserve Bank of Cleveland

(R. Chris Moore, Senior Vice President)

1455 East Sixth Street, Cleveland, Ohio

44101-2566:

1. Banc One Corporation, Columbus,

Ohio, and Banc One Oklahoma

Corporation, Oklahoma City, Oklahoma;

to merge with Liberty Bancorp, Inc.,

Oklahoma City, Oklahoma, and thereby

indirectly acquire Liberty Bank and

Trust Company of Oklahoma City, N.A.,

Oklahoma City, Oklahoma; and Liberty

Bank and Trust Company of Tulsa, N.A.,

Tulsa, Oklahoma.

In connection with this application,

Applicant has also applied to acquire

Mid-America Credit Life Assurance

Company, Oklahoma City, Oklahoma,

and thereby engage in underwriting

insurance solely related to extensions of

credit by subsidiaries of Liberty

Bancorp, Inc., pursuant to §

225.25(b)(8)(i) of the Board’s Regulation

Y; Mid-America Insurance Agency, Inc.,

Oklahoma City, Oklahoma, and thereby

engage in selling insurance solely

related to extensions of credit by

subsidiaries of Liberty Bancorp, Inc.,

pursuant to § 225.25(b)(8)(i) of the

Board’s Regulation Y; Liberty Trust

Company of Texas, Dallas, Texas, and

thereby engage in providing trust

services, pursuant § 225.25(b)(3) of the

Board’s Regulation Y; and Liberty

Financial Corporation, Oklahoma City,

Oklahoma, and thereby engage in real

estate financing and equipment leasing

activities for Liberty Bancorp, Inc.,

pursuant to §§ 225.25(b)(1) and (5) of

the Board’s Regulation Y.

Board of Governors of the Federal Reserve

System, February 11, 1997.

Jennifer J. Johnson,

Deputy Secretary of the Board.

[FR Doc. 97–3871 Filed 2–14–97; 8:45 am]

BILLING CODE 6210–01–F

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 § 225.25 of Regulation Y (12

CFR 225.25) 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.

Once the notice has been accepted for

processing, it will also 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, including whether

consummation of the proposal can

‘‘reasonably be expected to produce

benefits to the public, such as greater

convenience, increased competition, or

gains in efficiency, that outweigh

possible adverse effects, such as undue

concentration of resources, decreased or

unfair competition, conflicts of

interests, or unsound banking practices’’

(12 U.S.C. 1843).

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 March 4, 1997.

A. Federal Reserve Bank of New

York (Christopher J. McCurdy, Senior

Vice President) 33 Liberty Street, New

York, New York 10045-0001:

1. Banco Bilbao Vizcaya, S.A., Bilbao,

Spain;, to engage de novo through its

wholly-owned subsidiary, BBV

LatInvest Securities Inc., New York,

New York (‘‘Company’’), in: (1)

underwriting and dealing in, to a

limited extent, all types of debt and

equity securities that a state member

bank may not underwrite or deal in (see,

e.g., J.P. Morgan & Co., Inc., 75 Fed. Res.
7232 Federal Register / Vol. 62, No. 32 / Tuesday, February 18, 1997 / Notices

Bull. 192 (1989)); (2) acting as agent in

the private placement of all types of

securities (see Bankers Trust New York

Corp., 75 Fed. Res. Bull. 829 (1989)); (3)

buying and selling all types of securities

on order of customers as ‘‘riskless

principal’’ (see The Bank of New York

Company, Inc., 82 Fed. Res. Bull. 748

(1996); (4) providing investment and

financial advisory services, pursuant to

§ 225.25(b)(4) of the Board’s Regulation

Y; (5) providing full-service brokerage

services, pursuant to § 225.25(b)(15) of

the Board’s Regulation Y; (6) making

and servicing loans, pursuant to §

225.25(b)(1) of the Board’s Regulation Y;

(7) underwriting and dealing in

government obligations and money

market instruments in which state

member banks may underwrite and deal

under 12 U.S.C. §§ 335 and 24(7),

putsuant to § 225.25(b)(16) of the

Board’s Regulation Y; (8) in addition to

the securities credit activities under the

Board’s Regulation T, acting as

‘‘conduit’’ or ‘‘intermediary’’ in

securities borrowing and lending (see

Republic New York Corp., et al., 80 Fed.

Res. Bull. 249 (1994); and (9) engaging

in the following swaps-related activities:

(a) acting as agent or broker with respect

to interests in loan syndications, interest

rate and currency swap transactions and

related caps, floors, collars and options

thereon (‘‘swap derivative products’’);

(b) acting as a broker or agent with

respect to swaps and swap derivative

products, and over-the-counter options

transactions, linked to products other

than interest rates and currencies, such

as certain commodities, stock, bond, or

commodity indices, or a hybrid of

interest rates and such commodities or

indices, a specially tailored basket of

securities selected by the parties, or

single securities; (c) providing financial

and transactions advice regarding the

structuring and arranging of swaps and

swap derivative products relating to

non-financial commodity swap

transactions; and (d) providing

investment advice, including counsel,

written analyses and reports, and other

advisory services, including

discretionary portfolio management

services, with respect to futures and

options on futures on non-financial

commodities (see, e.g., Caisse Nationale

de Credit Agricole, S.A., 82 Fed. Res.

Bull. 754 (1996); First Union

Corporation, 81 Fed. Res. Bull. 726

(1995). Company would conduct these

activities in accordance with Regulation

Y and the Board’s prior orders involving

these activities. Company proposes to

conduct these activities throughout the

world.

B. Federal Reserve Bank of Chicago

(James A. Bluemle, Vice President) 230

South LaSalle Street, Chicago, Illinois

60690-1413:

1. Stichting Prioriteit ABN AMRO

Holding, Amsterdam, The Netherlands;

Stichting Administratiekantoor ABN

AMRO Holding, Amsterdam, The

Netherlands; ABN AMRO Holding N.V.,

Amsterdam, The Netherlands; ABN

AMRO Bank N.V., Amsterdam, The

Netherlands; and ABN AMRO North

America, Inc., Chicago, Illinois; to

acquire Standard Federal Bancorp, Inc.,

Troy, Michigan, and thereby indirectly

acquire Standard Federal Bank, Troy,

Michigan (a federally-chartered stock

savings bank), and Standard Brokerage

Services, Inc., Troy, Michigan, and

thereby engage in the nonbanking

activities of operating a savings

association, pursuant to § 225.25(b)(9)

of the Board’s Regulation Y, and in

providing securities brokerage services

in combination with investment

advisory services, pursuant to §

225.25(b)(15) of the Board’s Regulation

Y.

Board of Governors of the Federal Reserve

System, February 11, 1997.

Jennifer J. Johnson,

Deputy Secretary of the Board.

[FR Doc. 97–3869 Filed 2–14–97; 8:45 am]

BILLING CODE 6210–01–F

FEDERAL TRADE COMMISSION

[File No. 932–3023]

The Money Tree, Inc.; Vance R. Martin;

Analysis To Aid Public Comment

AGENCY: Federal Trade Commission.

ACTION: Proposed consent agreement.

SUMMARY: In settlement of alleged

violations of federal law prohibiting

unfair or deceptive acts or practices and

unfair methods of competition, this

consent agreement, accepted subject to

final commission approval, would

require, among other things, the

Georgia-based money lender and its

president to send a notice to all of its

current customers offering them the

opportunity to cancel the credit-life,

credit-disability, and accidental death

and disbursement insurance coverages

written on their loans, and to receive

cash refunds or credits. The agreement

also prohibits Money Tree and Martin

from requiring consumers to sign

statements that credit-related insurance

or auto club memberships are

voluntarily purchased if these extras

are, in fact, required to obtain the loan.

The complaint accompanying the

consent agreement alleges that Money

Tree required consumers to purchase

credit-related insurance and auto club

memberships (thus substantially

increasing the cost of their loans) but

failed to disclose to consumers the true

cost of their credit, in violation of the

Truth in Lending Act and the Federal

Trade Commission Act.

DATES: Comments must be received on

or before April 21, 1997.

ADDRESSES: Comments should be

directed to: FTC/Office of the Secretary,

Room 159, 6th St. and Pa. Ave., N.W.,

Washington, D.C. 20580.

FOR FURTHER INFORMATION CONTACT:

David Medicine, Federal Trade

Commission, S–4429, 6th and

Pennsylvania Ave, NW, Washington,

DC 20580. (202) 326–3025.

Rolando Berrele, Federal Trade

Commission, S–4429, 6th and

Pennsylvania Ave, NW, Washington,

DC 20580. (202) 326–3211.

Thomas Kane, Federal Trade

Commission, S–4429, 6th and

Pennsylvania Ave, NW, Washington,

DC 20580. (202) 326–2304.

SUPPLEMENTARY INFORMATION: Pursuant

to Section 6(f) of the Federal Trade

Commission, Act, 38 Stat. 721, 15 U.S.C.

46, and Section 2.34 of the

Commission’s Rules of Practice (16 CFR

2.34), notice is hereby given that the

above-captioned consent agreement

containing a consent order to cease and

desist, having been filed with and

accepted, subject to final approval, by

the Commission, has been placed on the

public record for a period of sixty (60)

days. The following Analysis to Aid

Public Comment describes the terms of

the consent agreement, and the

allegations in the accompanying

compliant. An electronic copy of the

full text of the consent agreement

package can be obtained from the

Commission Actions section of the FTC

Home Page (for February 4, 1997), on

the World Wide Web, at ‘‘http://

www.ftc.gov/os/actions/htm.’’ A paper

copy can be obtained from the FTC

Public Reference Room, Room H–130,

Sixth Street and Pennsylvania Avenue,

N.W., Washington, D.C. 20580, either in

person or by calling (202) 326–3627.

Public comment is invited. Such

comments or views will be considered

by the Commission and will be available

for inspection and copying at its

principal office in accordance with

Section 4.9(b)(6)(ii) of the Commission’s

Rules of Practice (16 CFR 4.9(b)(6)(ii)).

Analysis of Proposed Consent Order To

Aid Public Comment

The Federal Trade Commission has

accepted an agreement, subject to final