WASHINGTON -- The Federal Reserve Board said it approved SunTrust Banks Inc.'s application to engage in securities activities through a subsidiary.

The central bank will allow SunTrust Capital Markets Inc. of Atlanta to underwrite and deal in investment-quality municipal bonds, mortgage- and consumer-receivable-related securities, and commercial paper. It will also allow the subsidiary to advise investors, arrange commercial real estate equity financing, and provide brokerage services.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

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