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U.S. Fed approves merger between BB&T, SunTrust Banks

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Katanga Johnson Reuters
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The U.S. Federal Reserve said on Tuesday it approved a merger between BB&T Corp and SunTrust Banks Inc, sealing the biggest tie-up of banks since the 2007-2009 global financial crisis.

WASHINGTON, Nov 19 (Reuters) - The U.S. Federal Reserve said on Tuesday it approved a merger between BB&T Corp BBT.N and SunTrust Banks Inc STI.N, sealing the biggest tie-up of banks since the 2007-2009 global financial crisis.

Analysts have said such a tie-up has been made possible by regulatory easing under the administration of President Donald Trump, which has encouraged banking regulators to take a more relaxed approach to approving mergers, bank applications, and when enforcing post-crisis rules.

(Reporting by Katanga Johnson Editing by Chris Reese)

((Katanga.Johnson@thomsonreuters.com; 202-898-8403; Reuters Messaging: Katanga.Johnson.thomsonreuters.com@reuters.net))

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