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.
The Outreach and Education function engages, empowers and educates the Second District communities that the Bank serves, especially civic leaders, students, educators, small business owners, policymakers and the general public. It furthers the Bank's commitment to the region by listening to the communities we serve and leveraging our unique attributes to positively impact school and university programs, as well as analysis and research.
Approval of Application by Treetops Groups, CAM Discount, Ltd. and Bronfman Trusts
October 18, 2010
NEW YORK—The Federal Reserve Bank of New York approved the application by Treetops Acquisition Group LP, Treetops Acquisition Group II LP, Treetops Acquisition Group Ltd., Treetops Acquisition Group II Ltd., CAM Discount Ltd. and the Edgar M. Bronfman IDB Trusts A, B, C, D, E, F, G, each organized under the laws of the Cayman Islands and located in New York, New York, to increase their ownership from 26 percent to up to 28.5 percent of the outstanding shares of Israel Discount Bank, Ltd., Tel Aviv, Israel and thereby acquire Discount Bancorp Inc., New York, New York and its New York State-chartered non-member bank, Israel Discount Bank of New York, New York, New York, pursuant to Section 3(a)(3) of the Bank Holding Company Act of 1956.
The Reserve Bank acted under authority delegated by the Board of Governors of the Federal Reserve System.