Federal Reserve Bank Applications for Bank Holding Company Formations and Acquisitions

Regs.gov: Federal Reserve System

Published March 19th, 2026

Detected March 20th, 2026

Summary

The Federal Reserve Board has published a notice of applications filed by various entities seeking approval to become bank holding companies or to acquire control of banks and other financial institutions. The notice includes specific applications, such as The Bank of Nova Scotia's application to acquire additional shares of KeyCorp.

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What changed

The Federal Reserve Board has issued a notice detailing applications filed under the Bank Holding Company Act of 1956 and Regulation Y. These applications pertain to the formation of bank holding companies and the acquisition of control over banks and other financial entities. One specific application highlighted is from The Bank of Nova Scotia seeking to acquire up to 19.99 percent of KeyCorp's voting shares, which would indirectly grant control over KeyBank National Association.

Interested parties must submit written comments regarding these applications by April 20, 2026, to the specified Federal Reserve Bank or the Board of Governors. Comments are subject to public disclosure and should not contain confidential information. The applications and related filings are available for public inspection at the indicated Federal Reserve Banks and the Board's offices.

What to do next

Submit written comments on applications by April 20, 2026
Ensure comments do not contain confidential or inappropriate information for public disclosure

Source document (simplified)

Content

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:

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