The Federal Reserve Bank of New York works to promote sound and well-functioning financial systems and markets through its provision of industry and payment services, advancement of infrastructure reform in key markets and training and educational support to international institutions.
The Outreach and Education function engages, empowers and educates the Second District communities that the Bank serves, especially civic leaders, students, educators, small business owners, policymakers and the general public. It furthers the Bank's commitment to the region by listening to the communities we serve and leveraging our unique attributes to positively impact school and university programs, as well as analysis and research.
NEW YORK -- The Federal Reserve Bank of New York Monday approved the application by U.S. Trust Corporation, New York City ("US Trust"), to acquire U.S. Trust Bank of Connecticut, Inc., Greenwich, CT ("UST Bank"), a de novo Connecticut state bank. US Trust will convert its limited purpose trust subsidiary, U.S. Trust Company of Connecticut, Greenwich, CT ("UST-CT"), to a full-service bank by establishing UST Bank, and merging UST-CT with and into UST Bank.
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.