Federal Reserve Release, Press Release; image with eagle logo links to home page
Release Date: June 30, 1999


For immediate release

The Federal Reserve Board today announced its approval of the notice filed by BankBoston Corporation, Boston, Massachusetts; The Bank of New York Company, Inc., New York, New York; The Chase Manhattan Corporation, New York, New York; Citizens Financial Group, Inc., Providence, Rhode Island; Comerica Incorporated, Detroit, Michigan; First Union Corporation, Charlotte, North Carolina; Fleet Financial Group, Inc., Boston, Massachusetts; HSBC Holdings PLC, London, England; HSBC Holdings BV, Amsterdam, The Netherlands; HSBC Americas, Inc., Buffalo, New York; The Royal Bank of Scotland Group PLC, Edinburgh, Scotland; The Royal Bank of Scotland PLC, Edinburgh, Scotland; and Summit Bancorp, Princeton, New Jersey, to acquire Magic Line, Inc., Dearborn, Michigan, through NYCE Corporation, Woodcliff Lake, New Jersey, and thereby engage in providing data processing services and check verification services.

Attached is the Board's Order relating to this action.

Summary and order (46 KB PDF)

1999 Orders on banking applications

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Last update: June 30, 1999