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Approval of Application by Treetops Groups, CAM Discount, Ltd. and Bronfman Trusts
October 18, 2010
NEW YORK—The Federal Reserve Bank of New York approved the application by Treetops Acquisition Group LP, Treetops Acquisition Group II LP, Treetops Acquisition Group Ltd., Treetops Acquisition Group II Ltd., CAM Discount Ltd. and the Edgar M. Bronfman IDB Trusts A, B, C, D, E, F, G, each organized under the laws of the Cayman Islands and located in New York, New York, to increase their ownership from 26 percent to up to 28.5 percent of the outstanding shares of Israel Discount Bank, Ltd., Tel Aviv, Israel and thereby acquire Discount Bancorp Inc., New York, New York and its New York State-chartered non-member bank, Israel Discount Bank of New York, New York, New York, pursuant to Section 3(a)(3) of the Bank Holding Company Act of 1956.
The Reserve Bank acted under authority delegated by the Board of Governors of the Federal Reserve System.