ANNOUNCEMENT H.2, 1990, NO. 50 Actions of the Board, its Staff, and BOARD OF GOVERNORS RESEARCH LIBRARY the Federal Reserve Banks; OF THE Applications and Reports Received FEDERAL RESERVE SYSTJ||i g jg DjL|j:ag'jg the Week Ending December 15, 1990 FEDERAL RESERVE BANK ACTIONS TAKEN BY THE BOAftP (Q£v$QXBBNORS I M K H0LPIN6 COMPANIES Firstar Corporation# Milwaukee# Wisconsin — to acquire Banks of Iowa# Inc.# Des Moines# Iowa# and B0ITs subsidiary banks and nonbanking subsidiaries. Approved# December 14# 1990. Mitsui Bank# Limited# Tokyo# Japan# and The Taiyo Kobe Bank# Limited# Kobe# Japan — order for public meeting concerning application to convert Taiyo Kobe Bank and Trust Company# New York# New York into a commercial bank. Authorized# December 14# 1990. Mitsui Taiyo Kobe Bank# Limited# Tokyo# Japan — to engage in interest rate and currency swaps# options on swaps# and private placement activities through Mitsui Taiyo Kobe Global Capital# Inc.# New York# New York. Approved# December 10# 1990. NCNB Corporation# Charlotte# North Carolina — to acquire De Novo NCNB Florida Federal Savings Bank# IV# Tampa# Florida# which was formed to acquire the assets and assume the liabilities of two branches of American Savings and Loan Association# Miami# Florida# and for NCNB to merge De Novo Savings into NCNB National Bank of Florida# Tampa# Florida. Approved# December 10# 1990. ISMS Annual and Quarterly Reports of Repurchase Agreements on U.S. Government and Federal Agency Securities with Specified Holders CFR 2090a and FR 2090q) — extension. Proposed# December 11# 1990. Application for Membership in the Federal Reserve System (FR 2083 through FR 2083E) — extension with revision. Approved# December 10# 1990. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis H.2 DECEMBER 10, 1990 TO DECEMBER 14, 1990 PAGE 2 ACTIONS TAKEN BY THE BOARD OP GOVERNORS FORMS Demand Deposit Ownership Survey (FR 2591) — to discontinue. Proposed, December 11, 1990. Form for Registration as a Transfer Agent (FR TA-1) — extension. Approved, December 10, 1990. Report by Banks Proposing to Amortize Losses on Qualified Agricultural Loans (FR 4020) — extension. Approved, December 10, 1990. Report of Selected Deposits in Foreign Branches Held By U.S. Addressees (FR 2050) — extension with revision. Proposed, December 11, 1990. Reports Related To Securities of State Member Banks as Required By Regulation H — extension. Approved, December 10, 1990. Weekly Report of Assets and Liabilities for Large Banks (FR 2416) and the Weekly Report of Selected Assets (FR 2644) extension with revision. Proposed, December 11, 1990. INTERNATIONAL OPERATIONS Chase Manhattan Overseas Banking Corporation, Wilmington, Delaware — to make an investment in The Chase Manhattan Bank of Canada, Toronto, Canada• Permitted, December 10, 1990. REGULATIONS AND POLICIES Foreign government treatment of U.S. companies operating in government debt markets abroad — determination under the Primary Dealers Act of 1988 pertaining to Germany. Approved, December 12, 1990. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis H.2 DECEMBER 10, 1990 TO DECEMBER 14, 1990 PAGE 3 ACTIONS TAKEN BY THE BOARD OF GOVERNORS REGULATIONS AND POLICIES Rules Regarding Delegation of Authority — delegation to Reserve Banks to approve the issuance and redemption of capital notes and to approve investments in bank premises by State member banks. Approved, December 12, 1990. RESERVE BANK OPERATIONS Budgets for 1991. Approved, December 12, 1990. ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY ABBREVIATIONS: BS&R - Banking Supervision and Regulation; C&CA - Consumer and Community Affairs; FOMC - Federal Open Market Committee; FRBO - Federal Reserve Bank Operations; IF - International Finance; OSDM - Office of Staff Director for Management BANK BRANCHES, DOMESTIC New York Chemical Bank, New York, New York — to establish a branch at Lenox Hill Hospital, 100 East 77th Street. Approved, December 12, 1990. Chicago De Motte State Bank, De Motte, Indiana — to establish a branch at the northside of East Commercial Avenue at the intersection of Joe Martin Road, Lowell, Indiana. Approved, December 14, 1990. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis H.2 DECEMBER 10, 1990 TO DECEMBER 14, 1990 PAGE 4 ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY BANK BRANCHES. DOMESTIC Richmond First Virginia Bank* Falls Church* Virginia — to establish a branch at 12435 Dillingham Square* Woodbridge* Virginia. Approved, December 12* 1990. Chicago Rock Island Bank* Rock Island* Illinois — to establish a branch at Friendship Manor Retirement Complex* 1209 21st Avenue. Approved* December 11* 1990. Chicago Rock Island Bank* Rock Island* Illinois — to establish offsite electronic facilities at Econofoods* 4401 27th Street* Moline; and Building 1* Black Hawk College* 6600 34th Avenue. Approved* December 11* 1990. E/^IK HOLDING COMPANIES Staff Director BankAmerica Corporation, San Francisco, California — BS&R proposal that Bank of America Nevada* Reno* Nevada, purchase the assets and assume the liabilities of BAN Interim Federal Savings Bank* Las Vegas, Nevada* which was formed to acquire certain assets and assume deposit liabilities of Frontier Savings Association. Approved, December 14, 1990. Secretary BankAmerica Corporation* San Francisco* California — proposal that BAN Interim Federal Savings Bank, Las Vegas* Nevada* acquire certain assets and assume certain liabilities of Frontier Savings Association* and engage in the operation of a savings association. Approved, December 14* 1990. Staff Director Boatmen's Bancshares, Inc., St. Louis, Missouri — BS&R proposal that The BoatmenTs National Bank of St. Louis* St. Louis* Missouri* purchase the assets and assume the liabilities of Boatmen1s Interim Federal Savings Bank* which was formed to acquire certain assets and assume deposit liabilities of Community Federal Savings and Loan Association. Approved* December 14* 1990. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis H.2 DECEMBER 10, 1990 TO DECEMBER 14, 1990 PAGE 5 ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY BMK HPWINg COMPANIES St. Louis Boatmen1s Bancshares, Inc., St. Louis# Missouri — proposal that BoatmenTs Interim Federal Savings Bank acquire Community Savings and Loan Association. Approved # December 14# 1990. Atlanta Brannen Acquisition Corp.# Inverness# Florida — to acquire Brannen Banks of Florida. Withdrawn# December 10# 1990. Staff Director Bright Financial Services, Inc., Flora, Indiana BS&R proposal that Bright National Bank# Flora# Indiana# purchase the assets and assume the liabilities of Bright Savings Bank# F.S.B.# which was formed to acquire certain assets and assume deposit liabilities of the Burlington# Delphi# Lafayette - Greenbush# and Rossville branches of Hometown Federal Savings Bank. Approved# December 14» 1990. Staff Director Business Banc of America, Inc., Wichita, Kansas - BS&R proposal that Citizens Bank and Trust Company# Abilene# Kansas# purchase the assets and assume the liabilities of Citizens Interim Savings Ass.# Wichita# Kansas# which was formed to acquire certain assets and assume deposit liabilities of the of the Wichita branch of First Federal Savings Bank of Kansas# Wellington# Kansas. Approved# December 14# 1990. Kansas City Business Banc of America# Inc.# Abilene# Kansas — proposal to establish Citizens Interim Savings Association# Wichita# Kansas# which was formed to acquire certain assets and assume certain liabilities of the Wichita branch of First Federal Savings Bank of Kansas# Wellington# Kansas. Approved# December 14# 1990. Philadelphia Citizens Bancorp# Inc.# Coudersport# Pennsylvania — to acquire Citizens Trust Company. Approved# December 14# 1990. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis H. 2 DECEMBER 10, 1990 TO DECEMBER 14, 1990 PAGE 6 ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY BANK HOLDING COMPANIES Atlanta Covington Capital Corporation, Collins, Mississippi - - to acquire Covington County Bank. Withdrawn, December 10, 1990. Staff Director Emprise Financial Corp. - Hutchinson, Wichita, Kansas BS&R — proposal that Emprise Bank, N.A., Hutchinson, Kansas, purchase the assets and assume the liabilities of Emprise Interim Savings Bank, F.S.B., Lindsborg, Kansas, which was formed to acquire certain assets and assume deposit liabilities of the Lindsborg branch of First Federal Savings Bank of Kansas, Wellington, Kansas. Approved, December 14, 1990. Kansas City Emprise rinaneial Corp. - Hutchinson, Wichita, Kansas — proposal to establish Emprise Interim Savings Bank, F.S.B., Lindsborg, Kansas, which was formed to acquire certain assets and assume certain liabilities of the Lindsborg branch of First Federal Savings Bank of Kansas, Wellington, Kansas. Approved, December 14, 1990. Kansas City Emprise Financial Corporation - East, Wichita, Kansas — to acquire Sierra Petroleum Company, Wichita, Kansas, and Emprise Financial Corporation - Hutchinson, Hutchinson, Kansas. Approved, December 13, 1990. Cleveland First Bancorporation of Ohio, Akron, Ohio — to engage de novo in disaster recovery activities through First Bancorporation Services Division, Brecksville, Ohio. Permitted, December 14, 1990. Chicago First Chicago Corporation, Chicago, Illinois — to engage de novo in trust company activities