...Board must also rind that Applicant's performance of the activities through RERC "can reasonably be expected to produce benefits to the public, such as...resources, decreased or unfair competition, conflicts of interests, or unsound banking practices." The Board notes that since acquiring RERC in 1970, Applicant...

...conducted by the foreign banks unless the Board determines that their continued conduct would result in adverse effects, such as undue concentration of resources,...decreased or unfair competition, conflicts of interest, or unsafe or unsound banking practices. Under the grandfather exemption of the IBA, foreign banks conduct...

...governments. There is no evidence in the record that approval of this proposal would result in any adverse effects such as undue concentration of resources, decreased or unfair competition, conflicts of interests, or unsound banking practices. Accordingly, the Board finds that the balance of public interest...

...the Board shall consider whether the performance by the applicant of the activity can reasonably be expected to produce benefits to the public (such as greater convenience, increased competition, the gains in efficiency) that outweigh possible adverse effects (such as undue concentration of resources,...

...conducted by the foreign banks unless the Board determines that their continued conduct would result in adverse effects, such as undue concentration of resources, decreased or unfair competition, conflicts "i interest, or unsafe or unsound banking practices. Under the grandfather exemption of the IBA, foreign...

...or activities by the real estate affiliate described in the notice or application can reasonably be expected to produce benefits to the public, such as...unfair competition, conflicts of interest, or unsound banking practices; provided that any application submitted within one year of the date of the enactment...

...is also required to weigh the benefits of -5the securities affiliate to the public against possible effects, such as undue concentration of resources,...decreased or unfair competition, conflicts of interest, or iiminnmil hamfcimg practices. An exception to the public purpose test is provid for the transfer of...

...in determining the appropr lateness of new activities for bank holding companies, whether they will produce benefits to the public such as greater convenience, increased competition, or gains in efficiency. It also asks us to evaluate whether these gains nay be outweighed by possible adverse effects, such...

...Board is required to determine both that the activities are "closely related to banking" and that any possible adverse effects, such as undue concentration of resources, decreased or unfair competition or unsound banking practices are outweighed by benefits to the public. In approving a new activity,...

...Board shall consider whether its performance by an affiliate of a holding company can reasonably be expected to produce benefits to the public, such as...resources, decreased or unfair competition, conflicts of interests, or unsound banking practices* * *. ' Section 4(cX8) establishes what can be described as...