Federal Reserve Board approves application by The PNC Financial Services Group and PNC Bancorp

The following press release was published by the Board of Governors of the Federal Reserve System on Dec. 19, 2011. It is reproduced in full below.

The Federal Reserve Board on Monday announced its approval of the application by The PNC Financial Services Group, Inc., Pittsburgh, Pennsylvania, and PNC Bancorp, Inc., Wilmington, Delaware, to acquire RBC Bank (USA), Raleigh, North Carolina. A statement of the reasons for the Board's approval will be issued shortly.

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Source: Board of Governors of the Federal Reserve System