[Federal Register Volume 60, Number 249 (Thursday, December 28, 1995)]
[Notices]
[Pages 67136-67137]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-31429]



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FEDERAL RESERVE SYSTEM

Keycorp; Notice of Proposal to Engage de novo in Permissible 
Nonbanking Activities

    The company listed in this notice has given notice 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 is listed in Sec.  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 notice is available for immediate 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 commencement of the activity 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 
January 11, 1996.
    A. Federal Reserve Bank of Cleveland (John J. Wixted, Jr., Vice 
President) 1455 East Sixth Street, Cleveland, Ohio 44101:
    1. KeyCorp, Cleveland, Ohio; to engage de novo through its 
subsidiary, Key Capital Markets, Inc., Cleveland, Ohio, in providing 
certain investment and financial advisory services, pursuant to Sec.  
225.25(b)(4) of the Board's Regulation Y; in providing brokerage 
services and investment advisory services, both separately and on a 
combined basis in connection with the purchase and sale of securities, 
pursuant to Sec.  225.25(b)(15) of the Board's Regulation Y; in 
underwriting and dealing in bank eligible securities, pursuant to Sec.  
225.25(b)(16) of the Board's Regulation Y; in underwriting and dealing 
in Tier 1 securities on a limited basis and within the framework 
previously imposed by the Board of Governors; in buying and selling all 
types of securities on a riskless principal basis; in acting as agent 
in the private placement of all types of securities Citicorp 73 Fed. 
Res. Bull. 473 (1987); and Bankers Trust New York Corporation, 75 Fed. 
Res. Bull. 829 (1989); in providing certain foreign exchange and 
transactional advisory services, pursuant to Sec.  225.25(b)(17) of the 
Board's Regulation Y; and in trading for its own account, for purposes 
other than hedging, in futures, options and options on certificates of 
deposit or other money market instruments that are permissible for 
national banks, Swiss Bank Corporation, 77 Fed. Res. Bull. 759 (1991).


[[Page 67137]]

    Board of Governors of the Federal Reserve System, December 21, 
1995.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 95-31429 Filed 12-27-95; 8:45 am]
BILLING CODE 6210-01-F