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r ANNOUNCMENT BY BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM ( H . 2 , 1980 No. 51) A c t i o n s of t h e Board; A p p l i c a t i o n s and Reports Received During t h e Week Ending December 2 0 , APPLICABLE ACTIONS OF THE BOARD RESERVE BANK 1980 P r o p o s a l t o amend R e g u l a t i o n s D and Q, t o f a c i l i t a t e t h e e s t a b l i s h m e n t i n the United S t a t e s o f i n t e r n a t i o n a l banking f a c i l i t i e s o f d e p o s i t o r y i n s t i t u t i o n s , Edge and Agreement c o r p o r a t i o n s , and branches and a g e n c i e s of f o r e i g n banks l o c a t e d i n t h e United S t a t e s ; t h e Board r e q u e s t e d comment by February 13, 1981. R e v i s e d s c h e d u l e of o p e r a t i n g hours for the t r a n s f e r and s e t t l e m e n t of funds d i s p a t c h e d o v e r the Fe d e r a l Reserve S y s t e m ' s w i r e network. C r e a t i o n of Nonbank D e p o s i t o r y I n s t i t u t i o n s A d v i s o r y Group made up of n i n e r e p r e s e n t a t i v e s from t h r i f t i n s t i t u t i o n s . 1 H.2, 1980 No. 51 - 2 - ACTIONS OF THE BOARD-Continued To E s t a b l i s h a Domestic Branch Pursuant to S e c t i o n 9 o f t h e F e d e r a l Reserve Act New York Philadelphia Approved Bank of New York, New York, New York. To e s t a b l i s h a branch a t 26 West C i r c l e , Green Acres H a l l , Town of Hempstead, Nassau County, New York. 1/ & 2 / Girard Bank, Bala Cynwyd, P e n n s y l v a n i a . To e s t a b l i s h an o f f s i t e e l e c t r o n i c f a c i l i t y to be l o c a t e d at t h e Neshaminy V a l l e y Carpet C o . , I n c . , 535 Andrews Road, T r e v o s e , Penns y l v a n i a . 1/ & 2 / * * * * * I s s u e d I n t e n t Not t o Disapprove Change o f C o n t r o l Pursuant t o Change i n Bank C o n t r o l Act of 1978 Not Disapproved A . S . B . B a n c s h a r e s , I n c . , A r c h i e , M i s s o u r i . JJ * * * * * A p p l i c a t i o n s and N o t i f i c a t i o n s f o r I n t e r n a t i o n a l I n v e s t ments and Other A c t i o n s Pursuant t o S e c t i o n s 25 and 2 5 ( a ) of the F e d e r a l Reserve Act and S e c t i o n s 4 ( c ) ( 9 ) and 4 ( c ) ( 1 3 ) of t h e Bank Holding Company Act o f 1956, as amended New York 1/ 2/ Approved C i t i b a n k , N.A. , New York, New York: grants p e r m i s s i o n t o C i t i b a n k O v e r s e a s Investment C o r p o r a t i o n , Wilmington, Delaware to i n c r e a s e i t s investment i n Adela Investment Company, S . A . , a Luxembourg Corporation by a c q u i r i n g 3,000 preferred shares of Adela. A p p l i c a t i o n p r o c e s s e d on b e h a l f of the Board of Governors under d e l e g a t e d authority A p p l i c a t i o n s u b j e c t to Community Reinvestment A c t . The Community Reinvestment O f f i c e r of t h e a p p l i c a b l e Reserve Bank may be c o n t a c t e d as to the l e n g t h o f the comment p e r i o d . ACTIONS OF THE BOARD-Continued S i x t y Day N o t i f i c a t i o n Period Allowed t o Expire The Chase Manhattan Corporation, New York, New York: no o b j e c t i o n to make an a d d i t i o n a l investment in i t s w h o l l y owned s u b s i d i a r y , Chase Manhattan Finance & S e c u r i t i e s C o . , L t d . ( T h a i l a n d ) , Bangkok, T h a i l a n d . Chase Manhattan Overseas Banking C o r p o r a t i o n , Newark, Delaware: no o b j e c t i o n to n o t i f y the Board of CMOBC's i n t e n t to a c q u i r e from a f f i l i a t e s 1 4 . 8 and 2 5 . 0 percent i n t e r e s t in A l l i a n c e Holdings L i m i t e d , Sydney, A u s t r a l i a and I n v e r s i o n e s A t l a n t i d a , S . A . , T e g u c i g a l p a , Honduras, respectively. C i t i b a n k , N . A . , New York, New York: no o b j e c t i o n to make an a d d i t i o n a l investment i n I n v e s t o r ' s Finance Corporat i o n , Makati, R i z a l , P h i l i p p i n e s . * * * * * To E s t a b l i s h a U.S. Branch of an Edge Act Corporation Pursuant t o S e c t i o n 2 5 ( a ) o f t h e Federal Reserve Act Approved Crocker N a t i o n a l Bank, San F r a n c i s c o , C a l i f o r n i a : g r a n t s consent on behalf of Crocker Bank I n t e r n a t i o n a l (New York), New York, New York to e s t a b l i s h and operate a branch i n Chicago, I l l i n o i s . * * * * * To Organize, or Invest i n , a Corporation Doing Foreign Banking and Other Foreign Financing Pursuant t o S e c t i o n 25 or 2 5 ( a ) o f t h e Federal Reserve Act Approved The Chase Manhattan Bank, N.A. , New York, New York: g r a n t s consent to e s t a b l i s h an Edge Corporation to be known as Chase Bank I n t e r n a t i o n a l , Newark, Delaware; a l s o grants consent by Chase Bank I n t e r n a t i o n a l , Newark, Delaware to e s t a b l i s h and operate branches i n Chicago, I l l i n o i s ; Houston, Texas; Los A n g e l e s , C a l i f o r n i a ; and Miami, Florida. H.2, 1980 No. 51 - 4 ACTIONS OF THE BOARD-Continued To Form a Bank Holding Company Pursuant to S e c t i o n 3 ( a ) ( 1 ) o f t h e Bank Holding Company Act of 1956 Cleveland Approved Finance Ohio Company, Martins F e r r y , Ohio, for approval to a c q u i r e 90 percent of the v o t i n g s h a r e s of P e o p l e s S a v i n g s Bank Company, Martins F e r r y , Ohio. If & 2 / Chicago IDA GROVE BANCSHARES, INC., Ida Grove, lowa, f o r approval to a c q u i r e 95 percent o r more of t h e v o t i n g s h a r e s of Ida County S t a t e Bank, Ida Grove, Iowa. JL/ & 2 / Chicago KEYSTONE, INC., Rock Rapids, Iowa, for approval to a c q u i r e 100 p e r c e n t of the v o t i n g s h a r e s of Ashton Investment Company, Rock Rapids, Iowa; 100 percent of t h e v o t i n g s h a r e s o f Midwest A g r i c u l t u r a l Credit C o r p o r a t i o n , Rock Rapids, Iowa; 100 percent of t h e v o t i n g s h a r e s of Sioux County S t a t e Bank, Orange C i t y , Iowa; 100 percent of the v o t i n g s h a r e s of P e o p l e s Bank & T r u s t , Rock V a l l e y , Iowa and 100 percent of the v o t i n g s h a r e s of Ashton S t a t e Bank, Ash t o n , Iowa. \J & 2 / Chicago Morning Sun Bank C o r p . , Morning Sun, Iowa, f o r approval to a c q u i r e 9 9 . 3 percent of t h e v o t i n g s h a r e s of Iowa S t a t e Bank, Morning Sun, Iowa. If & 2 / S t . Louis H u t s o n v i l l e Banc C o r p . , H u t s o n v i l l e , I l l i n o i s , for a p proval t o a c q u i r e 80 percent of the v o t i n g s h a r e s of Farmers and Merchants Bank of H u t s o n v i l l e , H u t s o n v i l l e 5 I l l i n o i s . 2/ Minneapolis F i r s t Breck Holding Company, Breckenridge, Minnesota, f o r approval to a c q u i r e 100 percent of t h e v o t i n g s h a r e s of The F i r s t N a t i o n a l Bank of B r e c k e n r i d g e , Breckenridge, M i n n e s o t a . If & 7J Minneapolis Hudson Bancshares C o r p o r a t i o n , Hudson, W i s c o n s i n , f o r approval to a c q u i r e a t l e a s t 8 4 . 5 percent of t h e v o t i n g shares o f The S t a t e Bank o f Hudson, Hudson, W i s c o n s i n . If & If Minneapolis V a l l e y B a n c s h a r e s , I n c . , K a l i s p e l l , Montana, f o r approval to a c q u i r e 8 9 . 8 percent of t h e v o t i n g s h a r e s of V a l l e y Bank o f K a l i s p e l l , K a l i s p e l l , Montana. JJ & 2 / l7 2/ A p p l i c a t i o n p r o c e s s e d on b e h a l f of the Board of Governors under d e l e g a t e d authority. A p p l i c a t i o n s u b j e c t to Community Reinvestment Act. The Community Reinvestment O f f i c e r of the a p p l i c a b l e Reserve Bank may be c o n t a c t e d as to the l e n g t h of the comment p e r i o d . ti.2, 1980 No. 51 - 5 ACTIONS OF THE BOARD-Continued Kansas C i t y Blythedale Bancshares, I n c . , Blythedale, Missouri, f o r a p p r o v a l to a c q u i r e a t l e a s t 80 percent of t h e v o t i n g s h a r e s o f C i t i z e n s Bank o f B l y t h e d a l e , B l y t h e d a l e , Missouri. JL/ & 2/ Kansas C i t y F i n a n c i a l S e c u r i t y C o r p o r a t i o n , B a s i n , Wyoming, f o r app r o v a l to a c q u i r e 8 7 . 6 percent of t h e v o t i n g s h a r e s of S e c u r i t y S t a t e Bank o f B a s i n , B a s i n , Wyoming. 2/ Kansas C i t y Strong C i t y Banco, I n c . , L i n c o l n , Nebraska, for approval t o a c q u i r e a t l e a s t 9 7 . 7 8 p e r c e n t of the v o t i n g s h a r e s of The S t r o n g C i t y S t a t e Bank, Strong C i t y , Kansas. 1/ & 2/ Dallas Bant ex Bancs h a r e s , I n c . , H o u s t o n , T e x a s , f o r approval t o a c q u i r e a t l e a s t 80 percent of t h e v o t i n g s h a r e s of G r e a t e r Houston Bank, H o u s t o n , T e x a s . 1/ & 2/ Dal l a s Western B a n c s h a r e s of Truth o r C o n s e q u e n c e s , I n c . , Truth o r C o n s e q u e n c e s , New Mexico, f o r approval t o a c q u i r e 80 percent of t h e v o t i n g s h a r e s o f Western Bank, Truth o r Consequences, New M e x i c o . 1/ & 2J San Francisco Guardian Bancorp, I n c . , S a l t Lake C i t y , U t a h , for approval t o a c q u i r e 9 9 . 8 p e r c e n t of t h e v o t i n g s h a r e s o f Guardian S t a t e Bank, S a l t Lake C i t y , U t a h , a proposed new bank. 1/ & 2/ * * * * * To Expand a Bank Holding Company Pursuant to S e c t i o n 3 ( a ) ( 3 ) o f t h e Bank Holding Company Act o f 1956 Cleveland Cleveland Approved P e o p l e s Bancorp, I n c . , M a r i e t t a , O h i o , for approval t o a c q u i r e 100 p e r c e n t of the v o t i n g s h r e s o f The F i r s t N a t i o n a l Bank o f C a l d w e l l , C a l d w e l l , O h i o . J7 & 7J Winters N a t i o n a l C o r p o r a t i o n , Dayton, O h i o , f o r approval to a c q u i r e 100 percent of t h e v o t i n g s h a r e s of The F i r s t N a t i o n a l Bank o f C i r c l e v i l l e , C i r c l e v i l l e , O h i o . 1/ & 2/ 1/ 2/ ~~ A p p l i c a t i o n p r o c e s s e d on b e h a l f o f the Board of Governors under d e l e g a t e d authority. A p p l i c a t i o n s u b j e c t to Community Reinvestment A c t . The Community Reinvestment O f f i c e r of t h e a p p l i c a b l e R e s e r v e Bank may be c o n t a c t e d a s to the l e n g t h of the comment p e r i o d . H.2, 1980 No. 51 6 — ACTIONS OF THE BOARD-Continued Atlanta Trust Company of Georgia, A t l a n t a , Georgia, f o r approval to acquire 80 percent of the v o t i n g s h a r e s of Commerce N a t i o n a l Bank of Warner Robins, Warner Robins, Georgia. 1/ & 2/ Chicago Commercial Banc-Corp., Monroe, W i s c o n s i n , f o r approval to r e t a i n 4 6 . 5 percent of t h e v o t i n g s h a r e s of The Commercial and Savings Bank, Monroe, Wisconsin. JL/ & 2] Chicago Old Kent F i n a n c i a l Corporation, Grand Rapids, Michigan, f o r approval to acquire 100 percent of the v o t i n g s h a r e s of Old Kent Bank of Kalamazoo, Kalamazoo, Michigan. JL/ & 2/ Dallas San Francisco Republic of Texas Corporation, D a l l a s , Texas, f o r approval to a c q u i r e 100 percent of t h e v o t i n g shares ( l e s s d i r e c t o r s ' q u a l i f y i n g s h a r e s ) o f The F i r s t National Bank o f Richmond, Richmond, Texas, 1/ & 2 / Denied U.S. Bancorp, P o r t l a n d , Oregon, for approval to a c q u i r e 100 percent of the v o t i n g s h a r e s of The F o r e s t Grove N a t i o n a l Bank, F o r e s t Grove, Oregon. J7 & 2/ * * * * * To Expand a Bank Holding Company Pursuant to S e c t i o n 4 ( c ) ( 8 ) of t h e Bank Holding Company Act of 1956 Chicago Minneapolis T7 2/ Approved KEYSTONE, INC., Rock Rapids, Iowa, for approval to engage i n g e n e r a l insurance a c t i v i t i e s i n Ashton and L e s t e r , Iowa, communities w i t h l e s s than 5 , 0 0 0 p o p u l a t i o n . JL/ Guaranty S e c u r i t i e s Corporation, M i n n e a p o l i s , Minnesota, for approval to c o n t i n u e to engage in a c t i n g as an i n s u r ance broker, through l i c e n s e d a g e n t s , with r e s p e c t to i n s u r a n c e t h a t i s d i r e c t l y r e l a t e d to an e x t e n s i o n of c r e d i t by Guaranty S t a t e Bank of M i n n e a p o l i s , i n s u r i n g such bank a g a i n s t l o s s due to death and/or d i s a b i l i t y of d e b t o r s of such bank. A p p l i c a t i o n processed on b e h a l f of the Board of Governors under d e l e g a t e d authority. A p p l i c a t i o n s u b j e c t to Community Reinvestment A c t . The Community Reinvestment O f f i c e r of t h e a p p l i c a b l e Reserve Bank may be c o n t a c t e d as to the l e n g t h of the comment p e r i o d . I H.2, 1980 No. 51 - 7 ACTIONS OF THE BOARD-Continued Minneapolis Tower-Soudan Agency, I n c . , Tower, Minnesota, f o r approval to c o n t i n u e to engage in o p e r a t i n g a general insurance agency i n Tower, Minnesota, a community with l e s s than 5,000 population. Dallas Mustang F i n a n c i a l Corporation, Rio V i s t a , Texas, f o r approval to a c q u i r e 100 percent of t h e v o t i n g s h a r e s of Mustang L i f e Insurance Company, Rio V i s t a , Texas, a proposed new company. JL/ Kansas C i t y San Francisco San Francisco if 3/ Denied Republic Bancorporat i o n , I n c . , T u l s a , Oklahoma, for approval t o a c q u i r e 100 percent of the v o t i n g s h a r e s of Guaranty Trust Company, Ponea C i t y , Oklahoma and concurrent e s t a b l i s h m e n t of a de novo branch of Company i n Oklahoma C i t y , Oklahoma. Delayed W e l l s Fargo & Company, San F r a n c i s c o , C a l i f o r n i a , n o t i f i c a t i o n of i n t e n t to engage in de novo a c t i v i t i e s (making or a c q u i r i n g , l o a n s and other e x t e n s i o n s of c r e d i t i n c l u d i n g consumer i n s t a l l m e n t l o a n s o r i g i n a t e d by o t h e r s and commercial l o a n s secured by a b o r r o w e r ' s or a guara n t o r ' s a s s e t s ; s e r v i c i n g loans f o r the account of o t h e r s ; making f u l l pay-out l e a s e s of personal property i n accordance w i t h the Board's R e g u l a t i o n Y; a c t i n g as agent for c r e d i t l i f e or a c c i d e n t and h e a l t h i n s u r a n c e r e l a t e d t o i t s e x t e n s i o n s of c r e d i t ; and i n a c t i n g as agent for c r e d i t property and c a s u a l t y insurance and a s s o c i a t e d l i a b i l i t y insurance r e l a t e d t o WFCC's e x t e n s i o n s o f c r e d i t to the extent p e r m i s s i b l e under a p p l i c a b l e S t a t e insurance laws or r e g u l a t i o n s ) i n Wheaton, Maryland and Tyson 1 8 Corner, V i r g i n i a , s e r v i n g the S t a t e of Kentucky, through i t s s u b s i d i a r y , Wells Fargo Credit Corporation ( 1 2 / 1 7 / 8 0 ) 3/ S e c u r i t y P a c i f i c Corporation, Los A n g e l e s , C a l i f o r n i a , n o t i f i c a t i o n of i n t e n t to engage i n de novo a c t i v i t i e s (making or a c q u i r i n g , f o r i t s own account or f o r the account of o t h e r s , commercial loans and other e x t e n s i o n s of c r e d i t ) a t 14 Wall S t r e e t , New York, New York; 333 South Hope A p p l i c a t i o n processed on b e h a l f of the Board of Governors under d e l e g a t e d authority. 4 ( c ) ( 8 ) o r 4 ( c ) ( 1 2 ) n o t i f i c a t i o n processed by Reserve Bank on behalf of t h e Board of Governors under d e l e g a t d a u t h o r i t y . I H.2, 1980 No. 51 — 8 — ACTIONS OF THE BOARD-Continued S t r e e t , Los A n g e l e s , C a l i f o r n i a ; 208 South La S a l l e S t r e e t , C h i c a g o , I l l i n o i s ; Union Trust B u i l d i n g , 510 W i l l i a m Penn Way, P i t t s b u r g h , P e n n s y l v a n i a ; and 1 Commerce Square, Memphis, T e n n e s s e e , through i t s s u b s i d i a r y , S e c u r i t y P a c i f i c C l e a r i n g & S e r v i c e s Corp. ( 1 2 / 1 7 / 8 0 ) 3/ St.Louis C i t i z e n s F i d e l i t y C o r p o r a t i o n , L o u i s v i l l e , Kentucky, n o t i f i c a t i o n of i n t e n t to engage in de novo a c t i v i t i e s ( l e a s i n g of p e r s o n a l p r o p e r t y and equipment and a c t i n g as a g e n t , broker or a d v i s e r in the l e a s i n g of such property i n a manner such t h a t t h e l e a s i n g would serve as a f u n c t i o n a l e q u i v a l e n t of an e x t e n s i o n of c r e d i t ) i n S t . L o u i s , M i s s o u r i , Western Kentucky and I l l i n o i s , through a s u b s i d i a r y , C i t i z e n s F i d e l i t y Leasing Corporation ( 1 2 / 2 0 / 8 0 ) 2/ New York New York Permitted C i t i c o r p , New York, New York, n o t i f i c a t i o n of i n t e n t t o engage i n de novo a c t i v i t i e s ( u n d e r w r i t i n g d i r e c t l y o r as r e i n s u r e r c r e d i t l i f e and c r e d i t a c c i d e n t and h e a l t h i n s u r a n c e d i r e c t l y r e l a t e d t o e x t e n s i o n s of c r e d i t by C i t i c o r p ' s lending s u b s i d i a r i e s ) in Arkansas, Connecticut, Delaware, I l l i n o i s , Iowa, Kansas, Kentucky, M a s s a c h u s e t t s , Michigan, M i n n e s o t a , New J e r s e y , North Dakota, O h i o , South C a r o l i n a , T e n n e s s e e , West V i r g i n i a , Wisconsin and t h e D i s t r i c t o f Columbia, through i t s i n d i r e c t s u b s i d i a r y , Family Guardian L i f e Insurance Company ( 1 2 / 2 0 / 8 0 ) 3 / Manufacturers Hanover C o r p o r a t i o n , New York, New York, n o t i f i c a t i o n of i n t e n t to engage i n j3e novo a c t i v i t i e s (making or a c q u i r i n g , for i t s own account of for t h e account of o t h e r s , l o a n s and o t h e r e x t e n s i o n s of c r e d i t such a s would be made by a mortgage company; s e r v i c i n g any such l o a n s and o t h e r e x t e n s i o n s of c r e d i t f o r any person; a c t i n g as agent or b r o k e r , through an i n d i r e c t s u b s i d i a r y known as CMC I n s u r a n c e Agency, I n c . , f o r the s a l e o f c r e d i t l i f e i n s u r a n c e and c r e d i t a c c i d e n t and h e a l t h i n s u r a n c e r e l a t i n g t o such l o a n s and o t h e r e x t e n s i o n s o f c r e d i t ) a t 1819 South Dobson Road, Mesa, A r i z o n a , through i t s s u b s i d i a r y , Manufacturers Hanover Mortgage C o r p o r a t i o n ( 1 2 / 2 0 / 8 0 ) 3_/ 3 / 4 ( c ) ( 8 ) o r 4 ( c ) ( 1 2 ) n o t i f i c a t i o n p r o c e s s e d by Reserve Bank on b e h a l f of t h e Board of Governors under d e l e g a t e d a u t h o r i t y . H . 2 , 1980 No. 51 - 9 — ACTIONS OF THE BOARD-Continued Richmond Maryland N a t i o n a l C o r p o r a t i o n , B a l t i m o r e , Maryland, n o t i f i c a t i o n of i n t e n t to engage i n de novo a c t i v i t i e s (comm e r c i a l l e n d i n g o p e r a t i o n s i n c l u d i n g , but not l i m i t e d t o , f i n a n c i n g of a c c o u n t s r e c e i v a b l e , i n v e n t o r i e s and o t h e r t y p e s o f secured and unsecured loans to commercial e n t e r p r i s e s ; s e r v i c i n g commercial l o a n s for a f f i l i a t e d or nona f f i l i a t e d i n d i v i d u a l s , p a r t n e r s h i p s , c o r p o r a t i o n s or o t h e r e n t i t i e s ; and a c t i n g as a d v i s e r or broker i n comm e r c i a l l e n d i n g t r a n s a c t i o n s ) a t S u i t e 2 5 5 , Murray F i n a n c i a l C e n t e r , 5580 LBJ Freeway, D a l l a s , T e x a s , through i t s s u b s i d i a r y , Maryland N a t i o n a l I n d u s t r i a l Finance Corporation (12/20/80) 3/ St. Louis C i t i z e n s F i d e l i t y C o r p o r a t i o n , L o u i s v i l l e , Kentucky, n o t i f i c a t i o n of i n t e n t to engage i n de novo a c t i v i t i e s ( l e a s ing of p e r s o n a l p r o p e r t y and equipment and a c t i n g as a g e n t , broker or a d v i s e r i n t h e l e a s i n g of such property i n a manner such t h a t the l e a s i n g would s e r v e as a f u n c t i o n a l e q u i v a l e n t of an e x t e n s i o n o f c r e d i t ) i n S t . L o u i s , M i s s o u r i , Western Kentucky and I l l i n o i s , through a s u b s i d i a r y , F i d e l i t y Leasing Corporation (12/20/80) 3/ San Francisco U.S. Bancorp, P o r t l a n d , Oregon, n o t i f i c a t i o n of i n t e n t to engage i n de novo a c t i v i t i e s (making, a c q u i r i n g and s e r v i c i n g loans and o t h e r e x t e n s i o n s of c r e d i t , s e c u r e d and u n s e c u r e d , for i t s own account o r for t h e account of o t h e r s i n c l u d i n g consumer and commercial l o a n s ; i n s t a l l ment s a l e s c o n t r a c t s and o t h e r forms of r e c e i v a b l e s ; making i n v e s t m e n t s as permitted by S t a t e law; and a c t i n g as agent f o r t h e s a l e o f l i f e and d i s a b i l i t y i n s u r a n c e , and p r o p e r t y and c a s u a l t y i n s u r a n c e d i r e c t l y r e l a t e d t o e x t e n s i o n s o f c r e d i t by CILC) at N o r t h e a s t Fourth S t r e e t and 108th Avenue N o r t h e a s t , B e l l e v u e , Washington, through a s u b s i d i a r y , U . S . , C r e d i t c o r p I n d u s t r i a l Loan Company ( 1 2 / 1 5 / 8 0 ) 3/ San Francisco 57 Correction: Wells Fargo & Company, San F r a n c i s c o , C a l i f o r n i a , n o t i f i c a t i o n of i n t e n t to engage i n de novo a c t i v i t i e s ( a c t i n g as agent f o r c r e d i t p r o p e r t y , c a s u a l t y and homeowners i n s u r a n c e and a s s o c i a t e d l i a b i l i t y i n s u r a n c e r e l a t e d t o e x t e n s i o n s of c r e d i t or the p r o v i s i o n of o t h e r f i n a n c i a l s e r v i c e s ) i n S c o t t s d a l e , A r i z o n a , s e r v i n g t h e S t a t e s of A r i z o n a , Oklahoma, Utah, T e x a s , Kansas, M i s s o u r i , Arkansas, New Mexico and L o u i s i a n a , through i t s s u b s i d i a r y , W e l l s Fargo I n s u r a n c e S e r v i c e s ( 1 2 / 1 3 / 8 0 ) 3 / 4 ( c ) ( 8 ) o r 4 ( c ) ( 1 2 ) n o t i f i c a t i o n p r o c e s s e d by R e s e r v e Bank on b e h a l f of t h e Board of Governors under d e l e g a t e d a u t h o r i t y . H . 2 , 1980 No. 51 10 ACTIONS OF THE BOARD-Continued San Francisco Wells Fargo & Company, San F r a n c i s c o , C a l i f o r n i a , n o t i f i c a t i o n of i n t e n t to engage i n de novo a c t i v i t i e s (making or a c q u i r i n g , loans o r o t h e r e x t e n s i o n s of c r e d i t i n c l u d i n g commercial l o a n s secured by a b o r r o w e r ' s i n v e n t o r y , a c c o u n t s r e c e i v a b l e , o r o t h e r a s s e t s and s e r v i c i n g l o a n s ) a t 55 West Monroe, 11th F l o o r , C h i c a g o , I l l i n o i s , through i t s d i r e c t s u b s i d i a r y , Wells Fargo Business Credit (12/15/80) 3/ San Francisco Wells Fargo & Company, San F r a n c i s c o , C a l i f o r n i a , n o t i f i c a t ion of i n t e n t to engage i n de novo a c t i v i t i e s (making or a c q u i r i n g , loans and o t h e r e x t e n s i o n s of c r e d i t i n c l u d i n g consumer i n s t a l l m e n t l o a n s o r i g i n a t e d by o t h e r s and commercial loans secured by a b o r r o w e r ' s or a g u a r a n t o r ' s a s s e t s ; s e r v i c i n g l o a n s for the account of o t h e r s ; making f u l l p a y - o u t l e a s e s of personal p r o p e r t y i n a c c o r d a n c e with t h e B o a r d ' s R e g u l a t i o n Y; a c t i n g as agent f o r c r e d i t l i f e or a c c i d e n t and h e a l t h i n s u r ance r e l a t e d to i t s e x t e n s i o n s o f c r e d i t ; and in a c t i n g as agent f o r c r e d i t property and c a s u a l t y i n s u r a n c e and a s s o c i a t e d l i a b i l i t y i n s u r a n c e r e l a t e d t o WFCC's e x t e n s i o n s of c r e d i t to the e x t e n t p e r m i s s i b l e under a p p l i c a b l e S t a t e i n s u r a n c e laws or r e g u l a t i o n s ) i n Wheaton, Maryland and T y s o n ' s Corner, V i r g i n i a , s e r v i n g t h e S t a t e s of Maryland, V i r g i n i a , North C a r o l n a , D i s t r i c t o f Columbia, Delaware, T e n n e s s e e and West V i r g i n i a , through i t s subs i d i a r y , W e l l s Fargo C r e d i t C o r p o r a t i o n ( 1 2 / 2 1 / 8 0 ) 3J San Francisco Zions Utah B a n c o r p o r a t i o n , S a l t Lake C i t y , Utah, not i f i c a t i o n of i n t e n t to engage i n de novo a c t i v i t i e s ( t o engage in i n d u s t r i a l banking, l o a n s e r v i c i n g and c r e d i t r e l a t e d insurance a c t i v i t i e s ) i n Pueblo, Colorado, through a w h o l l y owned s u b s i d i a r y , Pueblo 1 s t I n d u s t r i a l Bank ( 1 2 / 2 1 / 8 0 ) 3 / * * * * * Agreements F i l e d Pursuant to S e c t i o n 8 of t h e S e c u r i t i e s Exchange Act o f 1934 B u f f a l o S a v i n g s Bank o f B u f f a l o , New York, has f i l e d an agreement w i t h the Board u n d e r t a k i n g t o comply w i t h a l l p r o v i s i o n s vriiich r e l a t e to t h e use o f c r e d i t t o f i n a n c e transactions in s e c u r i t i e s . 37 4 ( c ) ( 8 ) o r 4 ( c ) ( 1 2 ) n o t i f i c a t i o n p r o c e s s e d by R e s e r v e Bank on b e h a l f of t h e Board of Governors under d e l e g a t e d a u t h o r i t y . I H.2, 1980 No. 51 - 11 - APPLICATIONS RECEIVED To Become a Member of the Federal Reserve System Pursuant t o S e c t i o n 9 o f t h e F e d e r a l Reserve Act Richmond Dickenson-Buchanan Bank, H a y s i , V i r g i n i a . 2/ * * * * * To E s t a b l i s h a Domestic Branch Pursuant to S e c t i o n 9 o f t h e F e d e r a l Reserve Act New York S o l v a y Bank, S o l v a y , New York. Branch to be e s t a b l i s h e d a t 2318 West Genesee S t r e e t , S y r a c u s e , New York. 2 / Atlanta Commerce Union Bank o f Summer County, G a l l a t i n , T e n n e s s e e . To e s t a b l i s h a branch a t 875 N a s h v i l l e P i k e , G a l l a t i n , T e n n e s s e e . 2/ Chicago American Bank and Trust Company, L a n s i n g , Michigan. To e s t a b l i s h a branch at t h e v i c i n i t y of t h e i n t e r s e c t i o n of H a s l e t t and March Roads, u n i n c o r p o r a t e d v i l l a g e of Has l e t t , Meridian Township, Ingham County, Michigan • 2 / Philadelphia Girard Bank, Bala Cynwyd, P e n n s y l v a n i a . To e s t a b l i s h a remote s e r v i c e f a c i l i t y a t The Shop N Bag, 101 West Cheltenham Avenue, Cheltenham, P e n n s y l v a n i a . 2 / * * * * * To E s t a b l i s h an Overseas Branch of a Member Bank Pursuant t o S e c t i o n 25 of t h e F e d e r a l Reserve Act San Franci sco 2/ R a i n i e r N a t i o n a l Bank, S e a t t l e , Washington: p r i o r n o t i f i c a t i o n of i n t e n t to e s t a b l i s h i t s i n i t i a l branch i n t h e Cayman I s l a n d s . A p p l i c a t i o n s u b j e c t to Community Reinvestment A c t . The Community Reinvestment O f f i c e r of t h e a p p l i c a b l e R e s e r v e Bank may be c o n t a c t e d as to the l e n g t h of the comment p e r i o d . I h.2, 1980 No. 51 - 1 2 APPLICATIONS RECEIVED-Cont inued To Form a Bank Holding Company Pursuant to S e c t i o n 3 ( a ) ( 1 ) o f t h e Bank Holding Company Act o f 1956 Richmond F i r s t Bancorp o f War, I n c . , Welch, West V i r g i n i a , f o r approval to a c q u i r e 8 5 . 2 percent of t h e v o t i n g s h a r e s of The Bank o f War, War, West V i r g i n i a . 2/ Atlanta F i r s t P e o p l e s Bancorp, I n c . , J e f f e r s o n C i t y , T e n n e s s e e , f o r approval t o a c q u i r e a t l e a s t 80 p e r c e n t of the v o t i n g s h a r e s o f F i r s t P e o p l e s Bank of J e f f e r s o n County, J e f f e r s o n C i t y , Tennessee. 2/ Atlanta Guardian Banks F i n a n c i a l C o r p o r a t i o n , S e m i n o l e , F l o r i d a , f o r approval t o a c q u i r e 90 p e r c e n t of the v o t i n g s h a r e s of Guardian Bank, P i n e l l a s County (P.O. S e m i n o l e ) , Florida, 2/ Atlanta Mid-South Bancorp, I n c . , H u r f r e e s b o r o , T e n n e s s e e , f o r app r o v a l to a c q u i r e 100 percent of t h e v o t i n g s h a r e s of The H u r f r e e s b o r o Bank & Trust Company, H u r f r e e s b o r o , Tennessee. 2/ Atlanta Hiddle G e o r g i a C o r p o r a t i o n , E l l a v i l l e , G e o r g i a , f o r approval to a c q u i r e 9 9 . 3 9 percent of t h e v o t i n g s h a r e s o f Bank of E l l a v i l l e , E l l a v i l l e , Georgia. 2/ Chicago STEEL CITY BANCORPORATION, C h i c a g o , I l l i n o i s , for approval t o a c q u i r e a t l e a s t 80 p e r c e n t of the v o t i n g s h a r e s o f The S t e e l C i t y N a t i o n a l Bank o f C h i c a g o , C h i c a g o , I l l i n o i s 1} Hinneapolis Cokato B a n c s h a r e s , I n c . , Cokato, H i n n e s o t a , f o r approval to a c q u i r e a t l e a s t 8 5 . 8 percent of t h e v o t i n g s h a r e s of S t a t Bank o f C o k a t o , Cokato, H i n n e s o t a . 2J Kansas C i t y B o e l u s I n v e s t m e n t C o . , B o e l u s , Nebraska, for approval t o a c q u i r e at l e a s t 9 9 . 3 3 p e r c e n t of the v o t i n g s h a r e s o f B o e l u s S t a t e Bank, B o e l u s , Nebraska. 2 / Kansas C i t y F i r s t M e d i c i n e Lodge B a n c s h a r e s , I n c . , H e d i c i n e Lodge, Kansas, for approval to a c q u i r e a t l e a s t 100 percent of the v o t i n g s h a r e s o f The F i r s t N a t i o n a l Bank o f H e d i c i n e Lodge, H e d i c i n e Lodge, Kansas. 2 / 1} A p p l i c a t i o n s u b j e c t to Community Reinvestment A c t . The Community Reinvestment O f f i c e r of t h e a p p l i c a b l e R e s e r v e Bank may be c o n t a c t e d a s to the l e n g t h of the comment p e r i o d . H. 2, 1980 No. 51 - 1 3 APPLICATIONS RECEIVED-Cont inued Kansas City V a l l e y Bank proval to s h a r e s of Colorado. Dallas D a i n g e r f i e l d Bancshares, I n c . , D a i n g e r f i e l d , T e x a s , f o r approval to a c q u i r e at l e a s t 80 percent of t h e v o t i n g s h a r e s o f The National Bank o f D a i n g e r f i e l d , D a i n g e r f i e l d , Texas. 2/ Dallas F i r s t of A u s t i n Bancshares, I n c . , A u s t i n , T e x a s , f o r approval to a c q u i r e a t l e a s t 80 percent of t h e v o t i n g shares o f Western National Bank, A u s t i n , T e x a s . 2/ Dal l a s F i r s t Granbury Bancorporation, Granbury, T e x a s , for approval t o a c q u i r e 80 percent of the v o t i n g s h a r e s of The F i r s t N a t i o n a l Bank of Granbury, Granbury, Texas. 2 / Dallas United M e r c a n t i l e Bancshares, I n c . , S h r e v e p o r t , L o u i s i a n a , for approval to a c q u i r e at l e a s t 80 percent of t h e v o t i n g s h a r e s o f United M e r c a n t i l e Bank, S h r e v e p o r t , L o u i s i a n a . 2/ Holding Company, S e c u r i t y , Colorado, f o r apa c q u i r e a t l e a s t 80 percent of t h e v o t i n g The Bank of Fountain V a l l e y , S e c u r i t y , 2/ * * * * * To Expand a Bank Holding Company Pursuant to S e c t i o n 3 ( a ) ( 3 ) of t h e Bank Holding Company Act of 1956 Cleveland Banc One C o r p o r a t i o n , Columbus, Ohio, for approval to a c q u i r e 100 percent ( l e s s d i r e c t o r s ' q u a l i f y i n g s h a r e s ) of t h e v o t i n g s h a r e s of the s u c c e s s o r by merger t o Lake N a t i o n a l Bank, P a i n e s v i l l e , Ohio. 7 j Richmond Piedmont BankGroup I n c o r p o r a t e d , M a r t i n s v i l l e , V i r g i n i a , f o r approval t o a c q u i r e 100 percent of the v o t i n g s h a r e s of t h e s u c c e s s o r by merger to The F i r s t National Bank of Ferrum, Ferrum, V i r g i n i a . 2 j Atlanta Georgia B a n c s h a r e s , I n c . , Macon, Georgia, for approval t o a c q u i r e at l e a s t 80 percent of the v o t i n g s h a r e s of The Farmers N a t i o n a l Bank o f M o n t i c e l l o , M o n t i c e l l o , Georgia. 2/ 2? A p p l i c a t i o n s u b j e c t to Community Reinvestment A c t . The Community Reinvestment O f f i c e r of the a p p l i c a b l e Reserve Bank may be c o n t a c t e d as to the l e n g t h of the comment p e r i o d . H.2, 1980 No. 51 - 1 4 APPLICATIONS RECEIVED-Cont inued St. Louis Boatmen's Bancshares, I n c . , S t . L o u i s , M i s s o u r i , f o r approval to a c q u i r e 80 percent or more of t h e v o t i n g s h a r e s of Plaza N a t i o n a l Bancshares, I n c . , S t . L o u i s County, Missouri and i n d i r e c t l y a c q u i r e P l a z a Bank of West Port (P.O. S t . L o u i s ) , M i s s o u r i . 2/ Dallas Commerce S o u t h e s t I n c . , D a l l a s , T e x a s , for approval t o a c q u i r e 100 percent of the v o t i n g s h a r e s of The Farmers & Merchants N a t i o n a l Bank of Kaufman, Kaufman, Texas. 2/ * * * * * To Expand a Bank Holding Company Pursuant to S e c t i o n 4 ( c ) ( 8 ) of t h e Bank Holding Company Act of 1956 Boston I n d u s t r i a l N a t i o n a l Corporation, P r o v i d e n c e , Rhode I s l a n d , n o t i f i c a t i o n of i n t e n t to engage in de novo a c t i v i t i e s ( t h e o r i g i n a t i o n and s a l e of r e s i d e n t i a l mortgages and the s e r v i c i n g of r e s i d e n t i a l mortgage l o a n s ) a t 2250 McCulloch Boulevard, Lake Havasu C i t y , A r i z o n a , through i t s i n d i r e c t s u b s i d i a r y , Mortgage A s s o c i a t e s , I n c . (12/18/80) 3/ Boston I n d u s t r i a l National Corporation, P r o v i d e n c e , Rhode I s l a n d , n o t i f i c a t i o n of i n t e n t to engage i n de novo a c t i v i t i e s ( t h e o r i g i n a t i o n and s a l e of l o a n s f o r the purchase of mobile homes and s e r v i c i n g o f mobile home l o a n s ) at 10830 North Central Expressway, D a l l a s , T e x a s , through i t s i n d i r e c t s u b s i d i a r y , Kensington Mortgage and Finance Corp.. ( 1 2 / 1 8 / 8 0 ) 3 / Boston I n d u s t r i a l N a t i o n a l Corporation, P r o v i d e n c e , Rhode I s l a n d , n o t i f i c a t i o n of i n t e n t to engage i n de novo a c t i v i t i e s ( t h e o r i g i n a t i o n and s a l e of r e s i d e n t i a l mortgages and the s e r v i c i n g of r e s i d e n t i a l mortgage l o a n s ) at 5286 South 320 West, Murray, Utah, through i t s i n d i r e c t subs i d i a r y , Mortgage A s s o c i a t e s , I n c . ( 1 2 / 1 8 / 8 0 ) 3/ 2 / A p p l i c a t i o n s u b j e c t to Community Reinvestment A c t . The Community Reinvestment O f f i c e r of the a p p l i c a b l e Reserve Bank may be c o n t a c t e d as to the l e n g t h of the comment p e r i o d . 3 / 4 ( c ) ( 8 ) or 4 ( c ) ( 1 2 ) n o t i f i c a t i o n processed by Reserve Bank on b e h a l f of the Board of Governors under d e l e g a t e d a u t h o r i t y . H . 2 , 1980 No. 51 - 1 5 APPLICATIONS RECEIVED-Cont inued New York C i t i c o r p , New York, New York, n o t i f i c a t i o n of i n t e n t to engage i n de novo a c t i v i t i e s ( p u r c h a s i n g for i t s own account and s e r v i c i n g s a l e s f i n a n c e c o n t r a c t s ; the s a l e o f c r e d i t r e l a t e d l i f e and a c c i d e n t and h e a l t h or dec r e a s i n g or l e v e l ( i n the c a s e of s i n g l e payment l o a n s ) term l i f e i n s u r a n c e by l i c e n s e d a g e n t s or b r o k e r s , as r e q u i r e d ; making or a c q u i r i n g loans and o t h e r e x t e n s i o n s o f c r e d i t , secured o r u n s e c u r e d , for consumer and other p u r p o s e s ; and the e x t e n s i o n of l o a n s to d e a l e r s f o r the f i n a n c i n g of i n v e n t o r y ( f l o o r p l a n n i n g ) and working c a p i t a l p u r p o s e s , c r e d i t r e l a t e d l i f e , a c c i d e n t , and h e a l t h i n s u r a n c e may b e w r i t t e n by Family Guardian L i f e I n s u r a n c e Company, an a f f i l i a t e of C i t i c o r p P e r s o n - t o P e r s o n F i n a n c i a l C e n t e r , I n c . ) a t 3636 S. Sherwood F o r e s t B o u l e v a r d , Baton Rouge, L o u i s i a n a , through i t s s u b s i d i a r y , C i t i c o r p Person-to-Person Financial Center, I n c . (12/16/80) 3/ New York Manufacturers Hanover C o r p o r a t i o n , New York, New York, n o t i f i c a t i o n of i n t e n t to engage i n de novo a c t i v i t i e s (making or a c q u i r i n g , f o r i t s own account or f o r the a c count of o t h e r s , l o a n s and o t h e r e x t e n s i o n s o f c r e d i t s e c u r e d by second mortgages on r e s i d e n t i a l r e a l p r o p e r t y such as would be made by a consumer f i n a n c e company; s e r v i c i n g such l o a n s and o t h e r e x t e n s i o n s of c r e d i t f o r any person; a c t i n g as an agent or broker f o r t h e s a t e of c r e d i t l i f e i n s u r a n c e which i s d i r e c t l y r e l a t e d t o such l o a n s and e x t e n s i o n s o f c r e d i t and, through i t s s u b s i d i a r y , Tempco L i f e Insurance Company, r e i n s u r i n g such c r e d i t l i f e i n s u r a n c e ) a t 304 E. A l t o n S t r e e t , I n d e p e n d e n c e , M i s s o u r i and 1938-C South Glens t o n e , Springf i e l d , M i s s o u r i , through i t s s u b s i d i a r y , Tempco L i f e I n s u r a n c e Company ( 1 2 / 1 7 / 8 0 ) 3/ Philadelphia F i d e l c o r , I n c . , Rosemont, P e n n s y l v a n i a , f o r p e r m i s s i o n t o engage i n r e i n s u r a n c e a c t i v i t i e s through i t s dje novo s u b s i d i a r y , F i d e l c o r L i f e I n s u r a n c e Company, P h o e n i x , Arizona. Atlanta D e p o s i t Guaranty C o r p . , J a c k s o n , M i s s i s s i p p i , f o r approval to a c q u i r e through i t s wholly-owned s u b s i d i a r y , D e p o s i t Guaranty Mortgage Company, J a c k s o n , M i s s i s s i p p i , t h e s e r v i c i n g r i g h t s of t h e f i r s t mortgage l o a n s e r v i c i n g p o r t f o l i o and t h e Federal N a t i o n a l Mortgage A s s o c i a t i o n s t o c k owned by M i d - S t a t e Mortgage Company, J a c k s o n , Mississippi. 57 4 ( c ) ( 8 ) o r 4 ( c ) ( 1 2 ) n o t i f i c a t i o n p r o c e s s e d by R e s e r v e Bank on b e h a l f of t h e Board of Governors under d e l e g a t e d a u t h o r i t y . I H . 2 , 1980 No. 51 — 16 — APPLICATIONS RECEIVED-Cont inued Chicago N a t i o n a l D e t r o i t C o r p o r a t i o n , D e t r o i t , Michigan, f o r approval to open a l i m i t e d purpose <le novo bank, A u t o D r a f t Forwarding Company, I n c . , Highland Park, Michigan, to engage i n p r o c e s s i n g cash d r a f t s for Chrysler Corporation. St. Louis Tradewater B a n c s h a r e s , I n c . , P r o v i d e n c e , Rhode I s l a n d , n o t i f i c a t i o n of i n t e n t to engage i n de novo a c t i v i t i e s ( a c t i n g as agent o r broker w i t h r e s p e c t to the s a l e of any type of i n s u r a n c e i n communities h a v i n g a p o p u l a t i o n not e x c e e d i n g 5 , 0 0 0 i n c l u d i n g , but not l i m i t e d t o , t h e s a l e of f i r e , c a s u a l t y , v e h i c l e , a c c i d e n t , h e a l t h d i s a b i l i t y , r e n t , b u r g l a r y , and l i f e i n s u r a n c e regard l e s s of whether r e l a t e d to e x t e n s i o n s o f c r e d i t or n o t ) on Main S t r e e t , P r o v i d e n c e , Rhode I s l a n d , through a s u b s i d i a r y , Union N a t i o n a l I n s u r a n c e Agency, I n c . ( 1 2 / 1 8 / 8 0 ) 3/ St. Louis Union P l a n t e r s C o r p o r a t i o n , Memphis, T e n n e s s e e , n o t i f i c a t i o n of i n t e n t to engage i n de novo a c t i v i t i e s ( t o engage s o l e l y i n the a c t i v i t y o f p r o v i d i n g management c o n s u l t i n g a d v i c e to n o n - a f f i l i a t e d banks on a n o n - c o n t i n u i n g and e x p l i c i t f e e b a s i s ) a t 67 Madison Avenue, Memphis, T e n n e s s e e , through a s u b s i d i a r y , Union P l a n t e r s Risk Management Company ( 1 2 / 1 7 / 8 0 ) V Kansas C i t y M o r r i l l B a n c s h a r e s , I n c . , M o r r i l l , Kansas, for approval t o a c q u i r e 100 p e r c e n t of the v o t i n g s h a r e s of S a y l o r I n s u r ance S e r v i c e , I n c . , S a b e t h a , Kansas and t h e r e b y engage i n general insurance a c t i v i t i e s . San Francisco BankAmerica C o r p o r a t i o n , San F r a n c i s c o , C a l i f o r n i a , n o t i f i c a t i o n of i n t e n t to engage i n de novo a c t i v i t i e s ( a c t i n g as an i n d u s t r i a l loan company under t h e Iowa I n d u s t r i a l Loan Law; such a c t i v i t y w i l l i n c l u d e , but not be l i m i t e d t o , t h e i s s u i n g of i n v e s t m e n t c e r t i f i c a t e s ; and to c o n t i n u e to engage i n the a c t i v i t i e s of making or a c q u i r i n g f o r i t s own account l o a n s and other e x t e n s i o n s o f c r e d i t such as w i l l be made or acquired by a f i n a n c e company; s e r v i c i n g l o a n s and other e x t e n s i o n s o f c r e d i t ; and t h e J7 4 ( c ) ( 8 ) o r 4 ( c ) ( 1 2 ) n o t i f i c a t i o n p r o c e s s e d by R e s e r v e Bank on b e h a l f of t h e Board of Governors under d e l e g a t e d a u t h o r i t y . H.2, 1980 No. 51 - 17 APPLICATIONS RECEIVED-Continued o f f e r i n g of c r e d i t r e l a t e d l i f e , a c c i d e n t and h e a l t h and p r o p e r t y i n s u r a n c e ) a t 22 1/2 Wilson Avenue, S.W. , S u i t e B, Cedar Rapids, Iowa; 1013 L o c u s t S t r e e t , Des Moines, Iowa; and 111 West S t a t e S t r e e t , Mason C i t y , Iowa, through i t s i n d i r e c t s u b s i d i a r y , FinanceAmerica C o r p o r a t i o n (an Iowa C o r p o r a t i o n ) ( 1 2 / 1 5 / 8 0 ) 3 / 4 * * * * * REPORTS RECEIVED None * * if * * PETITIONS FOR RULEMAKING None 37 4 ( c ) ( 8 ) o r 4 ( c ) ( 1 2 ) n o t i f i c a t i o n p r o c e s s e d by Reserve Bank on b e h a l f of t h e Board o f Governors under d e l e g a t e d a u t h o r i t y . I
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