[Federal Register: September 21, 1999 (Volume 64, Number 182)]
[Notices]               
[Page 51125]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr21se99-57]                         

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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.
    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 October 5, 1999.
    A. Federal Reserve Bank of Boston (Richard Walker, Community 
Affairs Officer) 600 Atlantic Avenue, Boston, Massachusetts 02106-2204:
    1. Boston Private Financial Holdings, Inc., Boston, Massachusetts; 
to acquire RINET Company, Inc., Boston, Massachusetts, and thereby 
indirectly acquire Cornerstone Fund Advisors, Inc., Boston, 
Massachusetts, and thereby engage in providing tax-planning and 
preparation services, business valuation and liquidation strategies, 
and asset allocation, estate planning, charitable planning, investment 
consulting, general financial planning, and other investment advisory 
services, pursuant to Sec.  225.28(b)(6) of Regulation Y; in trust 
management services, pursuant to Sec.  225.28(b)(5) of Regulation Y; in 
private placement services, pursuant to Sec.  225.28(b)(7)(iii) of 
Regulation Y; in employee benefits consulting, pursuant to Sec.  
225.28(b)(9)(ii) of Regulation Y; in providing administrative services 
to closed-end investment funds, pursuant to Board Order, see Dresdner 
Bank AG, 82 Fed. Res. Bull. 676 (1996); and in serving as the general 
partner of private investment funds, pursuant to Board Order, see 
Dresdner Bank AG 84 Fed. Res. Bull. 361 (1998).
    B. Federal Reserve Bank of New York (Betsy Buttrill White, Senior 
Vice President) 33 Liberty Street, New York, New York 10045-0001:
    1. Cera Holding, C.V., Brussels, Belgium; Almanij N.V. (Algemene 
Maatschappij Voor Nijverheidskrediet), Antwerp, Belgium; KBC Bank & 
Insurance Holding Company, N.V., Brussels, Belgium; and KBC Bank N.V., 
Brussels, Belgium; to acquire D.E. Shaw & Company, New York, New York, 
through KBC Financial Products USA, Inc., New York, New York, and 
thereby engage in financial and investment advisory activities, 
pursuant to Sec.  225.28(b)(6) of Regulation Y; in agency transactional 
services for customer investments, including securities brokerage, 
riskless principal transactions, private placement services, and other 
transactional services, pursuant to Secs.  225.28(b)(7)(i), (ii), (iii) 
and (v) of Regulation Y, respectively; and in investment transactions 
as principal, including underwriting and dealing in government 
obligations and money market instruments, and investing and trading 
activities, pursuant to Secs.  225.28(b)(8)(i) and (ii) of Regulation 
Y, respectively. These activities will be conducted worldwide.

    Board of Governors of the Federal Reserve System, September 15, 
1999.
Robert deV. Frierson,
Associate Secretary of the Board.
[FR Doc. 99-24542 Filed 9-20-99; 8:45 am]
BILLING CODE 6210-01-F