--Dutch bank ING is considering options to acquire a U.S. banking license to improve its access to dollar liquidity, Bloomberg reports, citing unnamed sources.
--ING is the only global systemically-important bank without a master account at the Federal Reserve and relies on correspondent banks with access to the Fed for transactions in dollars. The group is putting together a team to engage with officials about getting a license which will give it access to Fed liquidity facilities, Bloomberg reports, citing sources.
--ING serves U.S. corporate and institutional clients through its wholesale banking business, but can't currently conduct traditional banking activities.
--The Federal Reserve Board declined to comment to Bloomberg, and ING said it declined to comment on potential regulatory plans or contracts.
Full story: https://tinyurl.com/tkhhub23
Write to Elena Vardon at elena.vardon@wsj.com
(END) Dow Jones Newswires
May 23, 2025 04:50 ET (08:50 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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