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Bank Holding Company Formations, Acquisitions, and Mergers

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Published March 20th, 2026
Detected March 20th, 2026
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Summary

The Federal Reserve System has published a notice regarding applications for bank holding company formations, acquisitions, and mergers. These applications are filed under the Bank Holding Company Act of 1956 and Regulation Y. Interested parties can submit comments by April 20, 2026.

What changed

The Federal Reserve System has issued a notice detailing applications received for bank holding company formations, acquisitions, and mergers. These applications are processed under the Bank Holding Company Act of 1956 and Regulation Y. One specific application noted is from The Bank of Nova Scotia to acquire additional voting shares of KeyCorp, indirectly acquiring voting shares of KeyBank National Association.

Interested parties have until April 20, 2026, to submit written comments regarding these applications. Comments should be sent to the indicated Federal Reserve Bank or the Board of Governors. Comments received are subject to public disclosure and should not contain confidential or identifying information.

What to do next

  1. Review applications for bank holding company formations, acquisitions, and mergers.
  2. Submit written comments by April 20, 2026, if interested.

Source document (simplified)

Notice

Formations of, Acquisitions by, and Mergers of Bank Holding Companies

A Notice by the Federal Reserve System on 03/20/2026

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  • Public Inspection Published Document: 2026-05530 (91 FR 13604) Document Headings ###### Federal Reserve System

The companies listed in this notice have applied to the Board for approval, pursuant to the Bank Holding Company Act of 1956 (12 U.S.C. 1841 et seq.) (BHC Act), Regulation Y (12 CFR part 225), and all other applicable statutes and regulations to become a bank holding company and/or to acquire the assets or the ownership of, control of, or the power to vote shares of a bank or bank holding company and all of the banks and nonbanking companies owned by the bank holding company, including the companies listed below.

The public portions of the applications listed below, as well as other related filings required by the Board, if any, are available for immediate inspection at the Federal Reserve Bank(s) indicated below and at the offices of the Board of Governors. This information may also be obtained on an expedited basis, upon request, by contacting the appropriate Federal Reserve Bank and from the Board's Freedom of Information Office at https://www.federalreserve.gov/​foia/​request.htm. Interested persons may express their views in writing on the standards enumerated in the BHC Act (12 U.S.C. 1842(c)).

Comments received are subject to public disclosure. In general, comments received will be made available without change and will not be modified to remove personal or business information including confidential, contact, or other identifying information. Comments should not include any information such as confidential information that would not be appropriate for public disclosure.

Comments regarding each of these applications must be received at the Reserve Bank indicated or the offices of the Board of Governors, Benjamin W. McDonough, Secretary of the Board, 20th Street and Constitution Avenue NW, Washington, DC 20551-0001, not later than April 20, 2026.

A. Federal Reserve Bank of New York (Keith Goodwin, Head of Bank Applications) 33 Liberty Street, New York, New York 10045-0001. Comments can also be sent electronically to Comments.applications@ny.frb.org:

  1. The Bank of Nova Scotia, Toronto, Canada; to acquire additional voting shares, up to 19.99 percent, of KeyCorp, and thereby indirectly acquire voting shares of KeyBank National Association, both of Cleveland, Ohio.

Board of Governors of the Federal Reserve System.

Michele Taylor Fennell,

Associate Secretary of the Board.

[FR Doc. 2026-05530 Filed 3-19-26; 8:45 am]

BILLING CODE P

Published Document: 2026-05530 (91 FR 13604)

CFR references

12 CFR part 225

Classification

Agency
Federal Reserve System
Published
March 20th, 2026
Comment period closes
April 20th, 2026 (31 days)
Compliance deadline
April 20th, 2026 (31 days)
Instrument
Notice
Legal weight
Binding
Stage
Final
Change scope
Substantive
Document ID
91 FR 13604

Who this affects

Applies to
Banks Public companies
Industry sector
5221 Commercial Banking
Activity scope
Bank Holding Company Formations Bank Acquisitions Bank Mergers
Geographic scope
United States US

Taxonomy

Primary area
Banking
Operational domain
Compliance
Compliance frameworks
Dodd-Frank
Topics
Mergers and Acquisitions Corporate Governance

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