The Federal Reserve Board is expected today to approve the application by Union Bank of Switzerland to acquire Swiss Bank Corp. and its U.S. subsidiaries.

The resulting bank would have $600 billion of assets worldwide, including $40 billion in the United States. The Fed's vote is the last approval needed to close the deal. The New York State Banking Department approved the application Thursday, and Swiss officials gave their approval last month.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.