[Federal Register Volume 66, Number 43 (Monday, March 5, 2001)]
[Notices]
[Pages 13320-13321]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 01-5270]


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FEDERAL RESERVE SYSTEM


Notice of Proposals to Engage in Permissible Nonbanking 
Activities or to Acquire Companies that are Engaged in Permissible 
Nonbanking Activities

    The companies listed in this notice have given notice under section 
4 of the Bank Holding Company Act (12 U.S.C. 1843) (BHC Act) and 
Regulation Y (12 CFR Part 225) to engage de novo, or to acquire or 
control voting securities or assets of a company, including the 
companies listed below, that engages either directly or through a 
subsidiary or other company, in a nonbanking activity that is listed in 
Sec. 225.28 of Regulation Y (12 CFR 225.28) or that the Board has 
determined by Order to be closely related to banking and permissible 
for bank holding companies. Unless otherwise noted, these activities 
will be conducted throughout the United States.
    Each notice is available for inspection at the Federal Reserve Bank 
indicated. The notice also will be available for inspection at the 
offices of the Board of Governors. Interested persons may express their 
views in writing on the question whether the proposal complies with the 
standards of section 4 of the BHC Act. Additional information on all 
bank holding companies may be obtained from the National Information 
Center website at www.ffiec.gov/nic/.
    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 March 20, 2001.
    A. Federal Reserve Bank of New York (Betsy Buttrill White, Senior 
Vice President) 33 Liberty Street, New York, New York 10045-0001:.
    1. The Bank of New York Company, Inc., New York, New York; J.P. 
Morgan Chase & Co, New York, New York; Citizens Banking Corporation, 
Flint, Michigan; Comerica Incorporated, Detroit, Michigan; FleetBoston 
Financial Corp., Boston, Massachusetts; HSBC Holdings plc, London, 
England; HSBC Finance (Netherlands), London, U.K.; HSBC Holdings BV, 
Amsterdam, Netherlands; HSBC North America Inc., Buffalo, New York; 
HSBC USA Inc., Buffalo, New York; and Summit Bancorp, Princeton, New 
Jersey; all to acquire through NYCE Corporation, Woodcliff, New Jersey, 
voting interests in SecureAccess Company, LLC, a Delaware limited 
liability company that will implement a secure Internet payment and 
authentication system and its related product applications, and 
distribute such systems and applications worldwide. NYCE proposes

[[Page 13321]]

to directly engage in SAC-related activities, including the marketing 
and sale of the secure Internet payment and authentication system, and 
its related product applications. Notificant also will engage in data 
processing and related services to facilitate transactions among 
consumers or between consumers and commercial entities using various 
media such as the Internet, hand-held wireless devices, telephone 
systems and other account access means made available by participating 
financial institutions, pursuant to Sec.  225.28(b)(14) of Regulation 
Y.

    Board of Governors of the Federal Reserve System, February 28, 
2001.
Robert deV. Frierson,
Associate Secretary of the Board.
[FR Doc. 01-5270 Filed 3-2-00; 8:45 am]
BILLING CODE 6210-01-S