Sumitomo Trust & Banking Co., Ltd., et al.; Acquisitions of Companies Engaged in Permissible Nonbanking Activities

FEDERAL RESERVE SYSTEM

Sumitomo Trust & Banking Co., Ltd., et al.; Acquisitions of

Companies Engaged in Permissible Nonbanking Activities

The organizations listed in this notice have applied under Sec.

225.23(a)(2) or (f) of the Board's Regulation Y (12 CFR 225.23(a)(2) or

(f)) for the Board's approval under section 4(c)(8) of the Bank Holding

Company Act (12 U.S.C. 1843(c)(8)) and Sec. 225.21(a) of Regulation Y

(12 CFR 225.21(a)) to acquire or control voting securities or assets of

a company engaged in a nonbanking activity that is listed in Sec.

225.25 of Regulation Y as closely related to banking and permissible

for bank holding companies. Unless otherwise noted, such activities

will be conducted throughout the United States.

Each application is available for immediate inspection at the

Federal Reserve Bank indicated. Once the application has been accepted

for processing, it will also be available for inspection at the offices

of the Board of Governors. Interested persons may express their views

in writing on the question whether consummation of the proposal can

``reasonably be expected to produce benefits to the public, such as

greater convenience, increased competition, or gains in efficiency,

that outweigh possible adverse effects, such as undue concentration of

resources, decreased or unfair competition, conflicts of interests, or

unsound banking practices.'' Any request for a hearing on this question

must be accompanied by a statement of the reasons 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.

Unless otherwise noted, comments regarding each of these

applications must be received at the Reserve Bank indicated for the

application or the offices of the Board of Governors not later than

March 25, 1994.

A. Federal Reserve Bank of New York (William L. Rutledge, Vice

President) 33 Liberty Street, New York, New York 10045:

1. Sumitomo Trust & Banking Co., Ltd., Osaka, Japan; to acquire

Boullioun Aviation Services, Inc., Bellevue, Washington, and thereby

engage in leasing personal property and acting as agent, broker or

advisor in leasing such property pursuant to Sec. 225.25(b)(5)(i);

leasing tangible personal property and acting as agent, broker or

advisor in leasing such property, in which the lessor relies on an

estimated residential value of the property in excess of 25 percent

pursuant to Sec. 225.25(b)(5)(ii); making, acquiring or servicing

commercial loans and other extensions of credit for its account or that

of others and acting as agent, broker or advisor with respect to such

credit financing transactions, pursuant to Sec. 225.25(b)(1); acting

as an investment or financial advisor to the extent of (i) providing

portfolio investment advice regarding investments in aircraft leases

and other financing of aircraft and related equipment; (ii) furnishing

general economic statistical forecasting services and industry studies

regarding the aircraft and air transportation industry; and (iii)

providing advice, including rendering fairness opinions and providing

valuation services, in connection with financing transactions or

aircraft and related equipment (including private and public financing

and loan syndications) and conducting financial feasibility studies

pursuant to Sec. 225.25(b)(4) of the Board's Regulation Y.

B. Federal Reserve Bank of Cleveland (John J. Wixted, Jr., Vice

President) 1455 East Sixth Street, Cleveland, Ohio 44101:

1. United Bancorp of Kentucky, Inc., Lexington, Kentucky; to

acquire Computer Bank Services, Inc., Lexington, Kentucky, and thereby

engage in providing to commercial banks and others data processing and

data transmission services, facilities (including data processing and

data transmission hardware and software) for the processing of

financial, banking, and economic data pursuant to Sec. 225.25(b)(7) of

the Board's Regulation Y.

Board of Governors of the Federal Reserve System, February 24,

1994.

Jennifer J. Johnson,

Associate Secretary of the Board.

[FR Doc. 94-4778 Filed 3-1-94; 8:45 am]

BILLING CODE 6210-01-F