National Bank of Canada won Fed permission to establish representative offices throughout the United States.

The U.S. sites include Denver; Boca Raton, Fla.; Baltimore; Boston; Southfield, Mich.; Charlotte, N.C.; Cincinnati; Cleveland; Pittsburgh; Memphis; and Richmond, Va.

The Fed's June 10 order permits National Bank of Canada to market products and services, solicit loans, and serve as a link between the head office in Montreal and customers in the United States.

The representative offices cannot originate loans or accept deposits, the Fed said.

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