Federal Reserve Release, Press Release; image with eagle logo links to home page
Release Date: August 17, 1998

For immediate release

The Federal Reserve Board today announced its approval of the proposal of NationsBank Corporation, Charlotte, North Carolina, to merge with BankAmerica Corporation, San Francisco, California, and thereby acquire all of BankAmerica's bank, nonbank, and foreign subsidiaries.

The Board's approval is conditioned on the divestiture of 17 branches in three local banking markets in New Mexico. NationsBank also must report to the Federal Reserve System semi-annually during the two-year period after consummation of the merger all branch closings that occur as a result of this proposal.

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

Attachment (253 KB PDF)

1998 Orders on banking applications

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Last update: August 17, 1998, 4:00 PM