FEDERAL RESERVE BANK of NEW YORK

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- The Federal Reserve Bank of New York works to promote sound and well-functioning financial systems and markets through its provision of industry and payment services, advancement of infrastructure reform in key markets and training and educational support to international institutions.
  
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  The New York Fed has been working with tri-party repo market participants to make changes to improve the resiliency of the market to financial stress.
Community Development
& Education

MONDAY, AUGUST 16, 1999

NEW YORK--The Federal Reserve Bank of New York Monday approved the application by Rome, MHC, and its subsidiary, Rome Bancorp, Inc., both of Rome, NY, for Rome, MHC to acquire a majority of Rome Bancorp, Inc.’s common stock and, immediately thereafter, for Rome Bancorp, Inc. to acquire 100 percent of the common stock of The Rome Savings Bank, Rome, NY.

According to standard procedure, the proposal cannot be completed for 15 days.

The Reserve Bank acted under authority delegated by the Board of Governors of the Federal Reserve System.

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