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[Federal Register Volume 61, Number 2 (Wednesday, January 3, 1996)]
[Notices]
[Page 168]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-00011]

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FEDERAL RESERVE SYSTEM

Royal Bank of Canada, Montreal, Quebec, Canada; Notice to Engage 
in Certain Nonbanking Activities

    Royal Bank of Canada, Montreal, Quebec, Canada (Applicant), has 
given notice 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 acquire 20 percent of the voting 
shares of MECA Software, L.L.C., Fairfield, Connecticut (Company), a 
joint venture, and thereby engage in the development, production, and 
provision of home banking and financial management software, pursuant 
to section 225.25(b)(7) of Regulation Y (12 CFR 225.25(b)(7)). Company 
is currently owned by national banking subsidiaries of BankAmerica 
Corporation, San Francisco, California (BankAmerica), and NationsBank 
Corporation, Charlotte, North Carolina (NationsBank). Upon consummation 
of this proposal, national banking subsidiaries of Fleet Financial 
Group, Inc., Providence, Rhode Island, First Bank Systems, Inc., 
Minneapolis, Minnesota, BankAmerica, and NationsBank, would also each 
own 20 percent of Company. Company proposes to conduct these activities 
throughout the United States and Canada.
    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 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 notice, 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, not later than January 
19, 1996. Any request for a hearing on this proposal must, as required 
by section 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. The 
notice may be inspected at the offices of the Board of Governors or the 
Federal Reserve Bank of New York.

    Board of Governors of the Federal Reserve System, December 27, 
1995.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 96-00011 Filed 1-2-96; 8:45 am]
BILLING CODE 6210-01-F
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