[Federal Register Volume 60, Number 72 (Friday, April 14, 1995)]
[Notices]
[Page 19064]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-9210]



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FEDERAL RESERVE SYSTEM


Commerzbank AG, et al.; Notice of Applications to Engage de novo 
in Permissible Nonbanking Activities

    The companies listed in this notice have 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 closely related to 
banking and permissible for bank holding companies. Unless otherwise 
noted, such activities will be conducted throughout the United States.
    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 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.
    Unless otherwise noted, comments regarding the applications must be 
received at the Reserve Bank indicated or the offices of the Board of 
Governors not later than April 28, 1995.
    A. Federal Reserve Bank of New York (William L. Rutledge, Senior 
Vice President) 33 Liberty Street, New York, New York 10045:
    1. Commerzbank AG, Frankfurt, Germany; to engage de novo through 
its subsidiary Commerz Immobilien GMBH, Frankfurt, Germany, in leasing 
real and personal property or acting as agent, broker or adviser in 
leasing such property, pursuant to Sec.  225.25(b)(5) of the Board's 
Regulation Y, and making, acquiring or servicing loans or other 
extension of credit (including issuing letters of credit and accepting 
drafts) for the company's account or the account of others, pursuant to 
Sec.  225.25(b)(1) of the Board's Regulation Y.
    2. National Westminster Bank PLC., London, England; to engage de 
novo through its subsidiary Natwest Futures, Inc., Chicago, Illinois, 
in the provision of execution, clearance and advisory services with 
respect to futures and options on futures on nonfinancial commodities 
both for affiliated and nonaffiliated persons. Bank of Montreal, 79 
Federal Reserve Bulletin 1049 (1993); J.P. Morgan & Co. Incorporated, 
80 Federal Reserve Bulletin 151 (1994), Credit Agricole, 80 Federal 
Reserve Bulletin 552 (1994); Societe Generale, 80 Federal Reserve 
Bulletin 649 (1994); Citicorp, Federal Reserve Board Press Release, 
December 13, 1994.

    Board of Governors of the Federal Reserve System, April 10, 
1995.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 95-9210 Filed 4-13-95; 8:45 am]
BILLING CODE 6210-01-F