Federal Register / Vol. 60, No. 89 / Tuesday, May 9, 1995 / Notices 24633

its investment advisor and other service

providers, accounting and

recordkeeping, disbursing payments for

the investment company’s expenses,

providing office space for the

investment company, and preparing and

filing tax and regulatory reports for the

investment company. Applicant states

that the proposed investment advisory

activities include serving as the nominal

administrator for closed-end investment

companies established pursuant to

Wyoming law. All of these activities are

to be conducted throughout the United

States.

Section 4(c)(8) of the BHC Act

provides that a bank holding company

may, with prior Board approval, engage

in any activity which the Board, after

due notice and opportunity for hearing,

has determined (by order or regulation)

to be so closely related to banking or

managing or controlling banks as to be

a proper incident thereto. This statutory

test requires that two separate tests be

met for an activity to be permissible for

a bank holding company. First, the

Board must determine that the activity

is, as a general matter, closely related to

banking. Second, the Board must find in

a particular case that the performance of

the activity by the applicant bank

holding company may reasonably be

expected to produce public benefits that

outweigh possible adverse effects.

A particular activity may be found to

meet the ‘‘closely related to banking’’

test if it is demonstrated that banks have

generally provided the proposed

activity, that banks generally provide

services that are operationally or

functionally similar to the proposed

activity so as to equip them particularly

well to provide the proposed activity, or

that banks generally provide services

that are so integrally related to the

proposed activity as to require their

provision in a specialized form.

National Courier Ass’n v. Board of

Governors, 516 F.2d 1229, 1237 (D.C.

Cir. 1975). The Board also may consider

any other basis that may demonstrate

that the activity has a reasonable or

close relationship to banking or

managing or controlling banks. Board

Statement Regarding Regulation Y, 49

FR 806 (January 5, 1984).

The Board previously has determined

by order that providing administrative

services to mutual funds and closed-end

investment companies, when conducted

within the limitations established by the

Board in its previous orders, are closely

related to banking. State Street Boston

Corporation, 81 Federal Reserve

Bulletin 297 (1995), Mellon Bank

Corporation, 79 Federal Reserve

Bulletin 626 (1993). In addition, the

Board previously has determined by

regulation that investment advisory

activities, when conducted within the

limitations established by the Board in

its regulations and in related

interpretations and orders, are closely

related to banking for purposes of

section 4(c)(8) of the BHC Act. See 12

CFR 225.25(b)(4). Applicant maintains

that it will conduct all of the proposed

activities in conformity with the

conditions and limitations established

by the Board by regulation or in prior

cases.

In order to satisfy the proper incident

to banking test, section 4(c)(8) of the

BHC Act requires the Board to find that

the performance of the activities by

Applicant 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 interest, or unsound banking

practices. Applicant believes that the

proposed activities will benefit the

public by promoting competition and

lowering costs. Applicant also believes

that approval of this application will

allow Applicant to provide a wider

range of services and added

convenience to its customers. Applicant

believes that the proposed activities will

not result in any unsound banking

practices or other adverse effects.

In publishing the proposal for

comment, the Board does not take a

position on issues raised by the

proposal. Notice of the proposal is

published solely to seek the views of

interested persons on the issues

presented by the application and does

not represent a determination by the

Board that the proposal meets, or is

likely to meet, the standards of the BHC

Act.

Any comments or requests for hearing

should be submitted in writing and

received by William W. Wiles,

Secretary, Board of Governors of the

Federal Reserve System, Washington,

D.C. 20551, not later than May 23, 1995.

Any request for a hearing on this

application must, as required by §

262.3(e) of the Board’s Rules of

Procedure (12 CFR 262.3(e)), be

accompanied by a statement of the

reasons why a written presentation

would not suffice in lieu of a hearing,

identifying specifically any questions of

fact that are in dispute, summarizing the

evidence that would be presented at a

hearing, and indicating how the party

commenting would be aggrieved by

approval of the proposal.

This application may be inspected at

the offices of the Board of Governors or

the Federal Reserve Bank of New York.

Board of Governors of the Federal Reserve

System, May 3, 1995.

Jennifer J. Johnson,

Deputy Secretary of the Board.

[FR Doc. 95-11347 Filed 5-8-95; 8:45 am]

BILLING CODE 6210-01-F

First National Corporation, et al.;

Formations of; Acquisitions by; and

Mergers of Bank Holding Companies

The companies listed in this notice

have applied for the Board’s approval

under section 3 of the Bank Holding

Company Act (12 U.S.C. 1842) and §

225.14 of the Board’s Regulation Y (12

CFR 225.14) to become a bank holding

company or to acquire a bank or bank

holding company. The factors that are

considered in acting on the applications

are set forth in section 3(c) of the Act

(12 U.S.C. 1842(c)).

Each application is 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 to the

Reserve Bank or to the offices of the

Board of Governors. Any comment on

an application that requests a hearing

must include a statement of why a

written presentation would not suffice

in lieu of a hearing, identifying

specifically any questions of fact that

are in dispute and summarizing the

evidence that would be presented at a

hearing.

Unless otherwise noted, comments

regarding each of these applications

must be received not later than June 2,

1995.

A. Federal Reserve Bank of Atlanta

(Zane R. Kelley, Vice President) 104

Marietta Street, N.W., Atlanta, Georgia

30303:

1. First National Corporation,

Folkston, Georgia; to become a bank

holding company by acquiring 100

percent of the voting shares of First

National Bank, Folkston, Georgia, in

organization.

B. Federal Reserve Bank of St. Louis

(Randall C. Sumner, Vice President) 411

Locust Street, St. Louis, Missouri 63166:

1. Central Bancompany, Inc., Jefferson

City, Missouri; to acquire 100 percent of

the voting shares of Jeffries Insurance

Agency, Inc., Buckner, Missouri, and

thereby indirectly acquire at least 80 of

the voting shares of First State Bank of

Missouri, Buckner, Missouri.
24634 Federal Register / Vol. 60, No. 89 / Tuesday, May 9, 1995 / Notices

Board of Governors of the Federal Reserve

System, May 3, 1995.

Jennifer J. Johnson,

Deputy Secretary of the Board.

[FR Doc. 95-11348 Filed 5-8-95; 8:45 am]

BILLING CODE 6210-01-F

Norwest Corporation; Notice of

Application to Engage de novo in

Permissible Nonbanking Activities

The company listed in this notice has

filed an application under § 225.23(a)(1)

of the Board’s Regulation Y (12 CFR

225.23(a)(1)) for the Board’s approval

under section 4(c)(8) of the Bank

Holding Company Act (12 U.S.C.

1843(c)(8)) and § 225.21(a) of Regulation

Y (12 CFR 225.21(a)) to commence or to

engage de novo, either directly or

through a subsidiary, in a nonbanking

activity that is listed in § 225.25 of

Regulation Y as closely related to

banking and permissible for bank

holding companies. Unless otherwise

noted, such activities will be conducted

throughout the United States.

The application is 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

question 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.’’ Any request for a

hearing on this question must be

accompanied by a statement of the

reasons a written presentation would

not suffice in lieu of a hearing,

identifying specifically any questions of

fact that are in dispute, summarizing the

evidence that would be presented at a

hearing, and indicating how the party

commenting would be aggrieved by

approval of the proposal.

Comments regarding the application

must be received at the Reserve Bank

indicated or the offices of the Board of

Governors not later than May 23, 1995.

A. Federal Reserve Bank of

Minneapolis (James M. Lyon, Vice

President) 250 Marquette Avenue,

Minneapolis, Minnesota 55480:

1. Norwest Corporation, Minneapolis,

Minnesota; to engage de novo through

its subsidiary, Norwest Ventures, Inc.,

Des Moine, Iowa, in a joint venture with

Conerstone Mortgage, Ho-Ho-Kus, New

Jersey, and engage in the residential

mortgage lending business, including

activities such as prequalification,

mortgage loan origination and

processing and closing loans, pursuant

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

Y. The georgraphic scope of this activity

is Paramus, New Jersey, and the

surrounding area.

Board of Governors of the Federal Reserve

System, May 3, 1995.

Jennifer J. Johnson,

Deputy Secretary of the Board.

[FR Doc. 95-11349 Filed 5-8-95; 8:45 am]

BILLING CODE 6210-01-F

DEPARTMENT OF HEALTH AND

HUMAN SERVICES

Centers for Disease Control and

Prevention

[CDC–538]

Cooperative Agreement for the

Hepatitis B Coalition Notice of

Availability of Funds for Fiscal Year

1995

Introduction

The Centers for Disease Control and

Prevention (CDC), National

Immunization Program (NIP),

announces the availability of

cooperative agreement funds in fiscal

year (FY) 1995 to assist the Hepatitis B

Coalition in promoting hepatitis B

prevention activities. Approximately

$150,000 is available in FY 1995 to fund

one cooperative agreement award. It is

expected the award will begin on or

about September 1, 1995, for a 12-month

budget period within a project period of

up to five years. Continuation awards

within the project period will be made

on the basis of satisfactory progress and

the availability of funds. The funding

estimate may vary and is subject to

change.

The purpose of this cooperative

agreement will be to improve: (1)

Provider knowledge about hepatitis B

prevention through the development

and dissemination of information and

educational materials, and the

implementation of promotional

activities for health care professionals;

(2) community awareness of the need

for hepatitis B screening and

vaccination through the development

and dissemination of information and

educational materials, and the

implementation of promotional

activities for specific target audiences

within the general population; and (3)

communication and facilitate

partnerships between State and local

health departments, private provider

organizations, hospitals, voluntary

groups, and other health care coalitions

to increase awareness about hepatitis B

prevention activities. By strategically

focusing resources through this

cooperative agreement, efforts to reach

national hepatitis B vaccination

coverage levels of 70% by 1996 and

90% by 1998 will be greatly enhanced.

CDC will provide technical assistance

in the development of programs by

providing scientific collaboration for

appropriate aspects of the activities,

including information on disease

impact, vaccination coverage levels, and

prevention strategies; and assisting in

reporting and validating relevant

hepatitis B information made available

to Federal, State, local health agencies,

health care providers, and volunteer

organizations.

The Public Health Service (PHS) is

committed to achieving the health

promotion and disease prevention

objectives of Healthy People 2000, a

PHS-led national activity to reduce

morbidity and mortality and improve

the quality of life. This announcement

is related to the priority area of

Immunization and Infectious Diseases.

(For ordering a copy of Healthy People

2000, see the section WHERE TO OBTAIN

ADDITIONAL INFORMATION.)

Authority

This program is authorized under the

Public Health Service Act, Section

317(k)(3) [42 U.S.C. 247b(k)(3)], as

amended.

Smoke-Free Workplace

PHS strongly encourages all grant

recipients to provide a smoke-free

workplace and to promote the nonuse of

all tobacco products, and Public Law

103–227, the Pro-Children Act of 1994,

prohibits smoking in certain facilities

that receive Federal funds in which

education, library, day care, health care,

and early childhood development

services are provided to children.

Eligible Applicants

Assistance will be provided only to

the Hepatitis B Coalition for this project.

No other applications will be solicited.

The Program Announcement and

application kit have been sent to the

Hepatitis B Coalition.

The Hepatitis B Coalition is the most

appropriate entity to conduct work

under this cooperative agreement

because:

1. The Hepatitis B Coalition

represents an established collaboration

among professional, voluntary, and

public and private sector organizations

with a history of combining resources,

sharing information, developing and