Approval of Proposal by the Bank of New York Mellon Corporation
FEDERAL RESERVE SYSTEM The Bank of New York Mellon Corporation New York, New York Order Approving the Formation of a Bank Holding Company and the Merger of Bank Holding Companies The Bank of New York Mellon Corporation (“BNYMellon”) has requested the Board’s approval under section 3 of the Bank Holding Company Act (“BHC Act”) 1 [Footnote 1. 12 U.S.C. § 1842. In addition, BONY and Mellon each has requested the Board’s approval to hold and exercise options to purchase up to 19.9 percent of each other’s common stock on the occurrence of certain events. Both options would expire on consummation of the merger of Mellon and BONY into BNYMellon. End footnote.] to become a bank holding company by merging with The Bank of New York Company, Inc. (“BONY”), New York, New York, and Mellon Financial Corporation (“Mellon”), Pittsburgh, Pennsylvania, and thereby acquiring The Bank of New York (“BONY Lead Bank”), New York, New York, Mellon Bank, N.A. (“Mellon Lead Bank”), Pittsburgh, Pennsylvania, and the other subsidiary banks of BONY and Mellon.2 [Footnote 2. BONY Lead Bank and Mellon Lead Bank are the largest subsidiary banks of their parent holding companies, as measured by both assets and deposits. BONY operates one other subsidiary bank, The Bank of New York (Delaware), Newark, Delaware. Mellon’s other subsidiary banks are: Mellon United National Bank, Miami, Florida; Mellon 1st Business Bank, National Association, Los Angeles, California; and Mellon Trust of New England, National Association, Boston, Massachusetts. End footnote.] BNYMellon is a newly organized corporation formed to facilitate BONY’s acquisition of Mellon.
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