• Home
  • Contact Us!
  • Privacy Policy

Radio Metta

  • Home
  • Business
  • Education
  • Health
  • Home Deco
  • News
  • Real Estate
  • Technology
  • Contact Us!
  • Privacy Policy
Home» Business»Fed approves Goldman acquisition of GE Capital’s U.S. online deposits

Fed approves Goldman acquisition of GE Capital’s U.S. online deposits

Saheli 21 Mar 2016 Business Comments Off on Fed approves Goldman acquisition of GE Capital’s U.S. online deposits 630 Views

A view of the Goldman Sachs stall on the floor of the New York Stock Exchange July 16, 2013. REUTERS/Brendan McDermid

Goldman Sachs Group Inc (GS.N) received permission on Monday to complete its $17 billion acquisition of GE Capital Bank’s U.S. online deposits.

The deal, which was approved by the Federal Reserve, had been pending since August 2015.

Goldman would control around $95 billion in deposits through its GS Bank unit following the acquisition, according to a statement from the Federal Reserve.

The Federal Reserve had extended the initial comment period for the deal and received feedback from 84 individuals and organizations that both opposed and supported it, it said.

Approval from the states of New York and Utah are still needed for the transaction to close, chief executive officer of GS Bank Esta Stecher said in a statement.

The deal gives Goldman a more stable source of funding to help it better weather future crises. Regulators have been pushing since 2008 for investment banks to fund more of their assets with deposits from customers. Deposits are widely seen as less likely to disappear during times of stress because they are federally insured.

GE (GE.N) has been winding down its financing arm, GE Capital, in an attempt to reduce its regulatory burden.

[Source:- Reuters]

acquisition approves Capital's deposits Fed GE Goldman of online' U.S. 2016-03-21
Tags acquisition approves Capital's deposits Fed GE Goldman of online' U.S.
Facebook Twitter Stumble linkedin Pinterest More

Authors

Posted by : Saheli
Previous Article :

Exclusive: DBS seen as frontrunner for Barclays’ HK, Singapore wealth units – sources

Next Article :

U.S. top court agrees to hear Samsung-Apple patent fight

Related Articles

Step up: Tips for organizations from the FTC’s settlement with Genshin Effect designer HoYoverse

Step up: Tips for organizations from the FTC’s settlement with Genshin Effect designer HoYoverse

admin 07 Feb 2025
The main 3 showcasing challenges for independent companies (and how mechanization can tackle them)

The main 3 showcasing challenges for independent companies (and how mechanization can tackle them)

admin 24 Sep 2024
The most effective method to Begin a Blog (and Bring in Cash) in 6 Stages: Simple Fledgling’s Aide

The most effective method to Begin a Blog (and Bring in Cash) in 6 Stages: Simple Fledgling’s Aide

admin 19 Sep 2024

Latest Post

Clinical Trial Considerations for Infectious Disease Rapid Diagnostics: From Sample to Result in Record Time
Health

Clinical Trial Considerations for Infectious Disease Rapid Diagnostics: From Sample to Result in Record Time

admin 04 Oct 2025

Michael Kremer on the Andhra Pradesh PAL Study’s evidence of personalized adaptive learning in India

admin 22 Sep 2025
Digital Dermatology with Freedom 360: Skin Cancer Checks and Expert Care for Members
Health

Digital Dermatology with Freedom 360: Skin Cancer Checks and Expert Care for Members

admin 15 Sep 2025
Small, Rural Central California High School Continues To Defy Standardized Education
Education

Small, Rural Central California High School Continues To Defy Standardized Education

admin 12 Sep 2025
Speeches delivered by CEO Sundar Pichai at the White House AI Education Taskforce
Education

Speeches delivered by CEO Sundar Pichai at the White House AI Education Taskforce

admin 08 Sep 2025
How is PSA used to monitor prostate cancer?
Health

How is PSA used to monitor prostate cancer?

admin 01 Sep 2025
The Future of High Performance Networking: Ultra Ethernet Explained
Technology

The Future of High Performance Networking: Ultra Ethernet Explained

admin 28 Aug 2025
October 2025
M T W T F S S
 12345
6789101112
13141516171819
20212223242526
2728293031  
« Sep    
  • Home
  • Contact Us!
  • Privacy Policy
Copyright 2016, All Rights Reserved
Magazine Blog News WordPress Theme