NEW YORK—The Federal Reserve Bank of New York Tuesday approved the application by National Bank of Canada, Montreal, Quebec, Canada and NatBC Holding Corporation, Wilmington, Delaware, to become bank holding companies through the acquisition of Natbank N.A., Hollywood, Florida, the proposed national bank successor to Natbank, F.S.B.
According to standard procedure, the proposal cannot be completed for 15 days.
The Reserve Bank acted under authority delegated by the Board of Governors of the Federal Reserve System.
