Banc One Corp. has received approval from the Federal Reserve Board to expand the securities activities of its section 20 subsidiary, Banc One Capital Corp.

Armed with so-called Tier 2 powers, granted on Monday, the subsidiary can now add corporate equity and debt underwriting to its menu of capital markets products and services. The unit already houses Banc One's merchant and investment banking operations and works closely with its loan syndication, asset securitization, and structured finance groups.

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