NEW YORK—The Federal Reserve Bank of New York Monday approved the application by Bay View Capital Corporation, San Mateo, California to become a bank holding company through the acquisition of Great Lakes Bancorp, Buffalo, New York, and thereby acquiring Greater Buffalo Savings Bank, Buffalo, New York, pursuant to Section 3(a)(1) of the Bank Holding Company Act of 1956, as amended.

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.