NEW YORK—The Federal Reserve Bank of New York approved the application by Oriental Financial Group Inc., San Juan, Puerto Rico, to acquire 100 percent of the shares of BBVAPR Holding Corporation, San Juan, Puerto Rico, and thereby indirectly acquire Banco Bilbao Vizcaya Argentaria Puerto Rico, San Juan, Puerto Rico.
According to standard procedure, the proposal cannot be completed sooner than 15 days, or later than 3 months, from the date of this announcement.
The Reserve Bank acted under authority delegated by the Board of Governors of the Federal Reserve System.
