[Federal Register Volume 63, Number 114 (Monday, June 15, 1998)]
[Notices]
[Pages 32661-32662]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-15776]


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FEDERAL RESERVE SYSTEM


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. 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 July 14, 1998.
    A. Federal Reserve Bank of Chicago (Philip Jackson, Applications 
Officer) 230 South LaSalle Street, Chicago, Illinois 60690-1413:
    1. Banc One Corporation (``Banc One'') and Banc One Corporation 
(DE) (``Banc One DE'') both of Columbus, Ohio; to merge with First 
Chicago NBD Corporation, Chicago, Illinois (``FCNBD''), and thereby 
acquire all of FCNBD's subsidiary banks: American National Bank and 
Trust Company, Chicago, Illinois; FCC National Bank, Wilmington, 
Delaware; NBD Bank, Detroit, Michigan; NBD Bank, NA, Indianapolis, 
Indiana; First National Bank of Chicago, Chicago, Illinois; NBD

[[Page 32662]]

Bank, Venice, Florida; and NBD Bank, Elkhart, Indiana. Banc One and 
Banc One DE also have requested the Board's approval to hold and 
exercise options to purchase up to 19.9 percent of the voting shares of 
FCNBD, if certain events occur. Banc One and Banc One DE may form one 
or more intermediate bank holding companies.
    In connection with the proposed transaction, Banc One and Banc One 
DE also have provided notice to acquire all of the nonbanking 
subsidiaries of FCNBD and to engage, directly or indirectly, in all of 
the nonbanking activities that FCNBD is currently authorized by the 
Board to conduct. The nonbanking activities, and the subsidiaries of 
FCNBD engaged in these activities, are described in the notice filed by 
Banc One and Banc One DE with the Board. The activities and 
subsidiaries include the following: extending credit and servicing 
loans through First Chicago Capital Corporation, Chicago, Illinois, and 
other subsidiaries, pursuant to Sec.  225.28(b)(1) of Regulation Y; 
activities related to extending credit through First Chicago NBD Real 
Estate Services, Inc., Indianapolis, Indiana, and other companies, 
pursuant to Sec.  225.28(b)(2) of Regulation Y; engaging in leasing 
personal or real property through FNW Capital, Inc., Mt. Prospect, 
Illinois, and other companies, pursuant to Sec.  225.28(b)(3) of 
Regulation Y; performing trust company functions through First Chicago 
Trust Company of New York, New York, New York, pursuant to Sec.  
225.28(b)(5) of Regulation Y; providing financial and investment 
advisory services through First Chicago Capital Markets, Inc., Chicago, 
Illinois (``FCCM''), and other companies, pursuant to Sec.  
225.28(b)(6) of Regulation Y; providing agency transactional services 
for customer investments through FCCM and other companies, pursuant to 
Sec.  225.28(b)(7) of Regulation Y; engaging in investment transactions 
as principal through FCCM and other companies, pursuant to Sec.  
225.28(b)(8) of Regulation Y; engaging in insurance agency and 
underwriting activities through NBD Insurance Agency, Inc., Troy, 
Michigan, and other companies, pursuant to Sec.  225.28(b)(11) of 
Regulation Y; engaging in community development activities through 
various subsidiaries, pursuant to Sec.  225.28(b)(12) of Regulation Y; 
and providing data processing services through various subsidiaries, 
pursuant to Sec.  225.28(b)(14) of Regulation Y. In addition, Banc One 
and Banc One DE propose to engage in certain other activities that the 
Board has approved by order, including engaging through FCCM in 
underwriting and dealing, to a limited extent, in all types of debt and 
equity securities (other than ownership interests in open-end 
investment companies). Banc One and Banc One DE propose to engage in 
these activities in accordance with previous Board decisions.
    Under this proposal, Banc One and Banc One DE would retain all of 
Banc One's subsidiary banks, including Bank One, NA, Columbus, Ohio; 
Bank One Trust Company, NA, Columbus, Ohio; Bank One, Arizona, NA, 
Phoenix, Arizona; Bank One, Colorado, NA, Denver, Colorado; Bank One, 
Illinois, NA, Springfield, Illinois; Bank One, Indiana, NA, 
Indianapolis, Indiana; Bank One, Oklahoma, NA, Oklahoma City, Oklahoma; 
Bank One, Louisiana, NA, Baton Rouge, Louisiana; Bank One, Kentucky, 
NA, Louisville, Kentucky; Bank One, Texas, NA, Dallas, Texas; Bank One, 
Wisconsin, Milwaukee, Wisconsin; Bank One, West Virginia, NA, 
Huntington, West Virginia; Bank One, Utah, NA, Salt Lake City, Utah; 
and Bank One, Wheeling Steubenville, NA, Wheeling, West Virginia. 
Pending consummation of the proposed acquisition of First Commerce 
Corporation, New Orleans, Louisiana (``First Commerce''), by Banc One, 
Banc One and Banc One DE also would retain the bank and nonbank 
subsidiaries of First Commerce, including First National Bank of 
Commerce, New Orleans; City National Bank of Baton Rouge, Baton Rouge; 
Rapides Bank & Trust Company in Alexandria, Alexandria; The First 
National Bank of Lafayette, Lafayette; The First National Bank of Lake 
Charles, Lake Charles; and Central Bank, Monroe, all in Louisiana.
    Banc One and Banc One DE would continue to engage in all of the 
nonbanking activities in which Banc One is currently authorized by the 
Board to conduct. The nonbanking activities and the companies 
conducting these activities are described in the notice filed with the 
Board. These subsidiaries and activities include: extending credit and 
servicing loans through Finance One Corporation, Columbus, Ohio, and 
other companies, pursuant to Sec.  225.28(b)(1) of Regulation Y; 
activities related to extending credit through Banc One Mortgage 
Capital Markets, LLC, Dallas, Texas, and other companies, pursuant to 
Sec.  225.28(b)(2) of Regulation Y; leasing personal or real property 
through BOI Leasing Corporation, Indianapolis, Indiana, and other 
companies, pursuant to Sec.  225.28(b)(3) of Regulation Y; operating an 
industrial bank through First USA Financial Services, Inc., Salt Lake 
City, Utah, pursuant to Sec.  225.28(b)(4)(i) of Regulation Y; 
performing trust company functions through Liberty Trust Company, 
Oklahoma City, Oklahoma, pursuant to Sec.  225.28(b)(5) of Regulation 
Y; providing financial and investment advisory services through Banc 
One Capital Markets, Inc., Columbus, Ohio (``BOCM''), and other 
companies, pursuant to Sec.  225.28(b)(6) of Regulation Y; engaging in 
agency transactional services for customer investments through BOCM and 
other companies, pursuant to Sec.  225.28(b)(7) of Regulation Y; 
engaging in investment transactions as principal through BOCM and other 
companies, pursuant to Sec.  225.28(b)(8) of Regulation Y; engaging 
insurance agency and underwriting activities through various companies, 
pursuant to Sec.  225.28(b)(11) of Regulation Y; engaging in community 
development activities through various companies, pursuant to Sec.  
225.28(b)(12) of Regulation Y; engaging in data processing activities 
through Paymentech Merchant Services, Inc., Dallas, Texas, and other 
companies, pursuant to Sec.  225.28(b)(14) of Regulation Y. In 
addition, Banc One and Banc One (DE) propose to engage in certain other 
activities that the Board has approved by order, including underwriting 
and dealing, to a limited extent, in all types of debt and equity 
securities (other than ownership interests in open-end investment 
companies), in accordance with previous Board decisions.

    Board of Governors of the Federal Reserve System, June 9, 1998.
Robert deV. Frierson,
Associate Secretary of the Board.
[FR Doc. 98-15776 Filed 6-12-98; 8:45 am]
BILLING CODE 6210-01-F