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Fed approves Nordea Bank's application for New York branch
April 13, 2017 / 8:02 PM / 5 months ago

Fed approves Nordea Bank's application for New York branch

NEW YORK, April 13 (Reuters) - The U.S. Federal Reserve said on Thursday that it has approved Nordea Bank AG’s application to establish a bank branch in New York.

Nordea’s application followed an internal reorganization of the Swedish bank’s Finnish and Swedish subsidiaries, the Fed said. Under U.S. law, foreign banks must get approval from the Fed to establish branches. (Reporting by Lauren Tara LaCapra; Editing by Chris Reese)

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