Internationale Nederlanden Bank NV will give up its U.S. branch banking license in November and set up a licensed broker-dealer, finance company, and derivatives trading institution instead.

ING Bank, the U.S. unit of the $109 billion-asset Dutch bank, in Amsterdam, is canceling its New York State banking license after failing to resolve legal difficulties stemming from the 1990 merger of Nationale Nederlanden NV, Holland's biggest insurance company, and NMB Postbank Group, the country's third-biggest bank.

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