CaixaBank Wins Fed Approval for Representative Office in U.S.

The Federal Reserve said it approved an application by CaixaBank SA of Barcelona, Spain, to establish a representative office in New York.

CaixaBank, Spain’s third-largest lender with about $470 billion in assets, would use the office to “act as a liaison” between the head office and customers in the U.S., the Fed said in a press release.