[Federal Register Volume 60, Number 94 (Tuesday, May 16, 1995)]
[Notices]
[Pages 26034-26035]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-11996]



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FEDERAL RESERVE SYSTEM


Cooperatieve Centrale Raiffeisen-Boerenleenbank B.A.; Notice of 
Application to Engage de novo in Permissible Nonbanking Activities

    The company listed in this notice has filed an application under 
Sec.  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 Sec.  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 the Board has 
determined is 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 [[Page 26035]] indicated or the offices of the Board of Governors 
not later than May 30, 1995.
    A. Federal Reserve Bank of New York (William L. Rutledge, Senior 
Vice President) 33 Liberty Street, New York, New York 10045:
    1. Cooperatieve Centrale Raiffeisen-Boerenleenbank B.A., Rabobank 
Nederland, Utrecht, Netherland to engage de novo through its 
subsidiary, Rabo Capital Services, Inc., New York, New York, in 
intermediating in the international swap markets by acting as an 
originator and principal in interest rate swap and currency swap 
transactions; acting as an originator and principal with respect to 
certain risk-management products such as caps, floors and collars, as 
well as options on swaps, caps, floors and collars (Swap Derivative 
Products); acting as a broker or agent with respect to the foregoing 
transactions and instruments; and acting as an advisor to institutional 
customers regarding financial strategies involving interest rate and 
currency swaps and Swap Derivative Products. See Long-Term Credit Bank 
of Japan, Limited, 79 Federal Reserve Bulletin 345 (1993)).

    Board of Governors of the Federal Reserve System, May 10, 1995.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 95-11996 Filed 5-15-95; 8:45 am]
BILLING CODE 6210-01-F