For immediate release

The Federal Reserve Board today announced its approval of the application of The Dai-Ichi Kangyo Bank, Limited, Tokyo, Japan, to acquire through its subsidiary, the CIT Group, Inc., Livingston, New Jersey, all the outstanding voting shares of Newcourt Credit Group, Inc., Toronto, Canada. Attached is the Board's Order relating to this action.

Summary and order (29 KB PDF)

1999 Orders on banking applications