Fed approves purchase of stake in Bank of East Asia

WASHINGTON Wed Oct 31, 2012 3:26pm EDT

WASHINGTON Oct 31 (Reuters) - The U.S. Federal Reserve on Wednesday said it had approved the purchase of up to 9.9 percent of the voting shares of The Bank of East Asia Ltd, Hong Kong by Japan's Sumitomo Mitsui Financial Group, Inc. and Sumitomo Mitsui Banking Corporation.

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