[Federal Register Volume 60, Number 60 (Wednesday, March 29, 1995)]
[Notices]
[Page 16139]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-7692]



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FEDERAL RESERVE SYSTEM

U.S. Trust Corporation; Formation of, Acquisition by, or Merger 
of Bank Holding Companies; and Acquisition of Nonbanking Company

    The company listed in this notice has applied under Sec.  225.14 of 
the Board's Regulation Y (12 CFR 225.14) for the Board's approval under 
section 3 of the Bank Holding Company Act (12 U.S.C. 1842) to become a 
bank holding company or to acquire voting securities of a bank or bank 
holding company. The listed company has also applied under Sec.  
225.23(a)(2) of Regulation Y (12 CFR 225.23(a)(2)) 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 acquire or control voting securities or assets of a 
company engaged 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, or to engage in such an activity. Unless otherwise 
noted, these 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 
April 12, 1995.
    A. Federal Reserve Bank of New York (William L. Rutledge, Senior 
Vice President) 33 Liberty Street, New York, New York 10045:
    1. U.S. Trust Corporation, New York, New York; to acquire all of 
the voting shares of New USTC Holding Company, New York, New York, and 
New U.S. Trust Company, New York, New York. United States Trust Company 
of New York, New York, New York, also has applied to become a bank 
holding company by acquiring New U.S. Trust Company of New York (in 
organization). New USTC Holding Company has applied to become a bank 
holding company by acquiring New U.S. Trust Company of New York, New 
York, New York; U.S.T.L.P.O. Corp., Dallas, Texas, and thereby 
indirectly acquire U.S. Trust Company of Texas, N.A., Dallas, Texas; 
and U.S. Trust Company of California, Los Angeles, California.
    In connection with these applications, New USTC Holdings 
Corporation has applied to acquire certain of U.S. Trust Corporation's 
nonbanking subsidiaries and thereby engage in through the U.S. Trust 
Company of Florida Savings Bank, Palm Beach, Florida, in the following 
activities: (1) trust company, investment and financial advisory, 
community development, and savings association operations activities, 
pursuant to Secs.  225.25(b)(3), (4), (6), and (9), of the Board's 
Regulation Y; (2) through CTMC Holding Company and its wholly-owned 
subsidiaries, U.S. Trust Company of the Pacific Northwest, and CTC 
Consulting, all of Portland, Oregon, in trust company, and investment 
and financial advisory activities, pursuant to Secs.  225.25(b)(3) and 
(4) of the Board's Regulation Y; (3) through Campbell, Cowperthwait & 
Co., Inc., New York, New York, in investment or financial advice, 
pursuant to Sec.  225.25(b)(4) of the Board's Regulation Y; (4) through 
U.S. Trust Company of New Jersey and its wholly-owned subsidiary, 
U.S.T. Securities Corp., both of Princeton, New Jersey, in trust 
company, investment and financial advisory, securities brokerage, and 
riskless principal activities, pursuant to Secs.  225.25(b)(3), (4), 
and (15) of the Board's Regulation Y and by Board order (U.S. Trust 
Corporation 78 Federal Reserve Bulletin 336 (1992)); and (5) through 
U.S. Trust Company of Connecticut, Stamford, Connecticut, in trust 
company and investment and financial advisory activities, pursuant to Secs.  
225.25(b)(3) and (4) of the Board's Regulation Y.

    Board of Governors of the Federal Reserve System, March 23, 
1995.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 95-7692 Filed 3-28-95; 8:45 am]
BILLING CODE 6210-01-F