Approval of proposal by Caja de Ahorros de Valencia

The following press release was published by the Board of Governors of the Federal Reserve System on Dec. 17, 2010. It is reproduced in full below.

The Federal Reserve Board on Friday announced its approval of the proposal by Caja de Ahorros de Valencia, Castellón y Alicante, Bancaja, Valencia, Spain, and Banco Financiero y de Ahorros, S.A., Madrid, Spain, to acquire Caja de Ahorros y Monte de Piedad de Madrid, also of Madrid, and its subsidiary bank, City National Bank of Florida, Miami, Florida.

Attached is the Board's Order relating to this action.

Source: Board of Governors of the Federal Reserve System