Washington - The Federal Reserve Board approved NationsBank Corp.'s application to merge with MNC Financial Inc. of Baltimore.

The Fed move will permit Charlotte, N.C.-based NationsBank to acquire MNC Financial's banking and nonbanking subsidiaries.

Upon completion of the proposed merger, NationsBank would remain the fourth-largest commercial banking organization in the United States, with consolidated assets of $134.6 billion and total domestic deposits of $94.4 billion, the Fed said.

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