The Federal Reserve Board will hold a public hearing on the proposed Citicorp-Travelers Group merger June 25 in New York.

The Fed, which must approve the transaction, said Thursday that the meeting will focus on the deal's impact on the operations of the companies, market competition, and Community Reinvestment Act commitments. Discussion is also expected on whether the combined company should be permitted to continue underwriting insurance for at least two years before mandatory divestiture.

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