Federal Reserve approves merger of Boston Private Financial and SVB

WASHINGTON (Reuters) – The Federal Reserve announced ON Thursday it had approved a merger between Boston Private Financial Holdings Inc and SVB Financial Group.

The approval clears the way for SVB to indirectly acquire the subsidiary state member bank, Boston Private Bank & Trust Company, and for Silicon Valley Bank to merge with that bank.

Reporting by Pete Schroeder; Editing by Leslie Adler

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