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Fed approves merger

Chris Hamblin

14 June 2021

The Fed also approved the proposals by SVB (Silicon Valley Bank, also of Santa Clara) under section 18(c) Federal Deposit Insurance Act to merge with Boston Private Bank & Trust Company, under section 9 Federal Reserve Act, to establish and operate branches at the locations of the main office and branches of Boston Private Bank & Trust Company, and under section 9 of the same Act and section 208.3(d)(2) of the Fed's Regulation H to change the general character of Silicon Valley Bank's business to engage in trust activities.