The Federal Reserve Board has announced its approval of an application filed by Banco Santander, S.A. and its U.S. intermediate holding company, Santander Holdings USA, Inc., according to an official announcement published on the Federal Reserve’s website.
The approval was issued through the Federal Reserve’s applications and structure change process, which governs mergers, acquisitions, and other corporate reorganizations involving bank holding companies and foreign banking organizations operating in the United States. Banco Santander, S.A. is a global banking institution, and Santander Holdings USA, Inc. serves as its primary holding company structure within the United States.
