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Bank of New York Mellon gets Australian banking licence

23 July 2009

The Bank of New York Mellon has been granted a banking licence in Australia.

Authorized by the Australian Prudential Regulation Authority (APRA), the licence allows BNY Mellon to conduct banking business as a Foreign Authorized Deposit-taking institution under the Banking Act 1959.

BNY Mellon has been operating through a representative office in Australia since 1975 and does not intend to provide any retail banking facilities but will provide banking services to its institutional clients.

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