PNC Bank Corp. expects to have a debt capital markets division up and running by November.

Richard Tito, president and chief executive of PNC Capital Markets Inc., a subsidiary of the Pittsburgh banking company, said PNC is nearing approval from the Federal Reserve for so-called Tier 2 powers, which would let it underwrite and deal in certain corporate securities.

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.