NEW YORK -- Millionaire banker Edmond J. Safra has asked the Federal Reserve for permission to buy up to 2 million shares, or 3.77% of, Republic New York Corp.
Mr. Safra, the company's largest shareholder, already owns 14.4 million shares, or 27.2%.
Republic, the nation's 20th-largest banking company, has $41.9 billion in assets.