13726 Federal Register / Vol. 60, No. 49 / Tuesday, March 14, 1995 / Notices

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 April 7,

1995.

A. Federal Reserve Bank of Chicago

(James A. Bluemle, Vice President) 230

South LaSalle Street, Chicago, Illinois

60690:

1. GreatBanc, Inc., Aurora, Illinois; to

acquire 54.5 percent of the voting shares

of GreatBank, Algonquin, Illinois, a de

novo bank.

B. Federal Reserve Bank of Kansas

City (John E. Yorke, Senior Vice

President) 925 Grand Avenue, Kansas

City, Missouri 64198:

1. Armstrong Bancshares, Inc., Vian,

Oklahoma; to become a bank holding

company by acquiring 100 percent of

the voting shares of Vian State bank,

Vian, Oklahoma.

2. Western Oklahoma Financial

Services, Inc., Elk City, Oklahoma; to

become a bank holding company by

acquiring 100 percent of the voting

shares of First National Bank, Elk City,

Oklahoma.

Board of Governors of the Federal Reserve

System, March 8, 1995.

Jennifer J. Johnson,

Deputy Secretary of the Board.

[FR Doc. 95–6202 Filed 3–13–95; 8:45 am]

BILLING CODE 6210–01–F

HSBC Holdings plc and HSBC

Holdings BV; Application to Engage in

Nonbanking Activities

HSBC Holdings plc, London, England,

and HSBC Holdings BV, Amsterdam,

The Netherlands (Applicants), have

applied pursuant to section 4(c)(8) of

the Bank Holding Company Act (12

U.S.C. 1843(c)(8)) (BHC Act) and section

225.23 of the Board’s Regulation Y (12

CFR 225.23), to engage de novo through

their wholly owned subsidiary, James

Capel Incorporated, New York, New

York (Company), in the following

nonbanking activities:

(1) Providing investment and

financial advice, pursuant to §

225.25(b)(4) of Regulation Y;

(2) Providing securities brokerage

service on a discount and full-service

basis, pursuant to § 225.25(b)(15) of

Regulation Y;

(3) Acting as agent in the private

placement of all types of securities, and

providing related advisory services; and

(4) Purchasing and selling all types of

securities on the order of customers as

a ‘‘riskless principal.’’

Applicant seeks approval to conduct

the proposed activities throughout the

United States.

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

provides that a bank holding company

may, with 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.’’ 12 U.S.C. §

1843(c)(8). In determining whether a

proposed activity is closely related to

banking for purposes of the BHC Act,

the Board considers, inter alia, the

criteria set forth in National Courier

Association v. Board of Governors of the

Federal Reserve System, 516 F.2d 1229

(D.C. Cir. 1975). These considerations

are: (1) whether banks generally have in

fact provided the proposed services; (2)

whether banks generally provide

services that are operationally or

functionally so similar to the proposed

services as to equip them particularly

well to provide the proposed services;

and (3) whether banks generally provide

services that are so integrally related to

the proposed services as to require their

provision in a specialized form. See 516

F.2d at 1237. In addition, the Board 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 Federal Register 806

(1984).

Applicant states that the Board

previously has determined by regulation

that some of the proposed activities,

when conducted within limitations

established by the Board, are closely

related to banking for purposes of

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

CFR 225.25(b)(4) (providing investment

and financial advice); 12 CFR

225.25(b)(15) (providing securities

brokerage service on a discount and fullservice basis).

Applicant also states that the Board

has determined by order that the

remaining proposed activities, when

conducted within the limitations

established by the Board in its previous

orders, are closely related to banking.

See J.P. Morgan & Co. Incorporated, 76

Federal Reserve Bulletin 26 (1990) and

Bankers Trust New York Corporation,

75 Federal Reserve Bulletin 829 (1989)

(private placement and riskless

principal activities).

Applicant maintains that Company

would conduct the foregoing, previously

approved activities in conformity with

the conditions and limitations

established by the Board in prior cases.

In order to approve the proposal, the

Board must determine that the proposed

activities to be conducted by Company

‘‘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.’’ 12 U.S.C. 1843(c)(8).

Applicant believes that the proposal

will produce public benefits that

outweigh any potential adverse effects.

In particular, Applicant maintains that

the proposal will enhance competition

and efficiency. In addition, Applicant

states that the proposed activities will

not result in adverse effects such as an

undue concentration of resources,

decreased or unfair competition,

conflicts of interest, or unsound banking

practices.

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 in order 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, on or before March 28,

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.
Federal Register / Vol. 60, No. 49 / Tuesday, March 14, 1995 / Notices 13727

Board of Governors of the Federal Reserve

System, March 8, 1995.

Jennifer J. Johnson,

Deputy Secretary of the Board.

[FR Doc. 95–6203 Filed 3–13–95; 8:45 am]

BILLING CODE 6210–01–F

Sequatchie Valley Bancshares, Inc.;

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 March 28,

1995.

A. Federal Reserve Bank of Atlanta

(Zane R. Kelley, Vice President) 104

Marietta Street, N.W., Atlanta, Georgia

30303:

1. Sequatchie Valley Bancshares, Inc.,

Chattanooga, Tennessee; to engage de

novo through its subsidiary Tennessee

Business and Industrial Development

Corporation, Chattanooga, Tennessee, in

community development activities,

pursuant to § 225.25(b)(6) of the Board’s

Regulation Y. The proposed activity will

be conducted throughout the state of

Tennessee.

Board of Governors of the Federal Reserve

System, March 8, 1995.

Jennifer J. Johnson,

Deputy Secretary of the Board.

[FR Doc. 95–6204 Filed 3–13–95; 8:45 am]

BILLING CODE 6210–01–F

DEPARTMENT OF HEALTH AND

HUMAN SERVICES

Administration on Aging

White House Conference on Aging

Advisory Committee on Disability;

Notice of Establishment

Pursuant to Public Law 92–463, the

Federal Advisory Committee Act, the

Department of Health and Human

Services announces the establishment

by the Secretary of the White House

Conference on Aging Advisory

Committee on Disabilities.

The Committee shall advise and make

recommendations with respect to

disability issues to the Secretary and the

Assistant Secretary for Aging to assist in

planning and conducting the

Conference and in reviewing the

resolutions produced by the Conference

delegates.

The Committee shall terminate on

September 30, 1995.

Dated: March 8, 1995.

Fernando M. Torres-Gil,

Assistant Secretary for Aging.

[FR Doc. 95–6190 Filed 3–13–95; 8:45 am]

BILLING CODE 4130–02–M

White House Conference on Aging

Business Advisory Committee; Notice

of Establishment

Pursuant to Public Law 92–463, the

Federal Advisory Committee Act, the

Department of Health and Human

Services announces the establishment

by the Secretary of the White House

Conference on Aging Business Advisory

Committee.

The Committee shall advise and make

recommendations with respect to

business issues to the Secretary and the

Assistant Secretary for Aging to assist in

planning and conducting the

Conference and in reviewing the

resolutions produced by the Conference

delegates.

The Committee shall terminate on

September 30, 1995.

Dated: March 8, 1995.

Fernando M. Torres-Gil,

Assistant Secretary for Aging.

[FR Doc. 95–6191 Filed 3–13–95; 8:45 am]

BILLING CODE 4130–02–M

DEPARTMENT OF HEALTH AND

HUMAN SERVICES

Administration for Children and

Families

Administration on Children, Youth and

Families

[Program Announcement No. ACF–

93588.951–A]

DEPARTMENT OF EDUCATION

Office of Elementary and Secondary

Education

Safe and Drug Free Schools Program;

The Community Schools Youth

Services and Supervision Grant

Program, and

The Family and Community Endeavor

Schools Grant Program; Availability of

Fiscal Year (FY) 1995 Funds and

Request for Applications; Correction

AGENCIES: Administration for Children

and Families (ACF), Department of

Health and Human Services (HHS), and

the Office of Elementary and Secondary

Education (OESE), Department of

Education (ED).

ACTION: Correction Notice to amend the

announcement of the availability of

funds and request for applications

under the Family and Community

Endeavor School Grant Program.

SUMMARY: This Notice will correct

several items in Program

Announcement No. ACF–93588.951,

prepared by the Family and Youth

Services Bureau of the ACYF and the

Safe and Drug Free Schools Program of

the Office of Elementary and Secondary

Education and published in the March

6, 1995 Federal Register Notice (60 FR

12332).

Part II of the announcement describes

the three priority areas under which

application may be made. In the Table

of Contents and in the body of the

announcement, Part II, subparts D, E, F,

and G were mistakenly identified as

‘‘Priority Areas’’. Only subparts A, B,

and C of Part II are priority areas under

which applications may be submitted.

Subparts D through G provide

supplemental information and are not

priority areas.

DATES: The closing date for receipt of

applications under this announcement