For immediate release

The Federal Reserve Board today announced its approval of the proposal of UFJ Holdings, Inc., Osaka, Japan ("UFJ"), to become a bank holding company by acquiring indirectly Sanwa Bank California, San Francisco, California, the U.S. banking subsidiary of The Sanwa Bank, Limited, Osaka, Japan ("Sanwa"); and Tokai Bank of California, Los Angeles, California, the U.S. banking subsidiary of The Tokai Bank, Limited, Nagoya, Japan. The Board also has approved UFJ's proposal to acquire the U.S. nonbanking subsidiaries of Sanwa and The Toyo Trust and Banking Company, Limited, Tokyo, Japan, and thereby engage in certain permissible nonbanking activities. Attached is the Board's Order relating to this action. Attachment (77 KB PDF)

2001 Orders on banking applications