Capital Briefs: Chinese Bank Gets Fed Nodfor N.Y. Office

The Federal Reserve Board on Monday gave China Construction Bank permission to open a representative office in New York.

China Construction, which controls $211 billion in assets, operates more than 13,000 full-service branches and 28,000 deposit-taking offices in China. The New York office can only offer marketing and promotional services. It cannot make credit decisions, solicit consumer deposits, or trade securities.

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