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.
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NEW YORK—The Federal Reserve Bank of New York Friday approved the application by Deutsche Bank AG, Frankfurt, Germany, to acquire 100 percent of the shares of Ganis Credit Corporation, Newport Beach, California, and its venture subsidiary, Thor Credit Corporation, Newport Beach, California, and thereby engage in the making and servicing of loans.
Ganis Credit Corporation is a wholly-owned subsidiary of The First National Bank of Boston, Boston, Massachussets.
The Reserve Bank acted under authority delegated by the Board of Governors of the Federal Reserve System.