Bank of Nova Scotia Seeks 20% Stake in KeyCorp Amid Mergers
Published Date: 3/20/2026
Notice
Summary
Some companies want to become bank holding companies or buy parts of banks, like The Bank of Nova Scotia aiming to own nearly 20% of KeyCorp. If you have thoughts, you can share them by April 20, 2026. These moves could shake up who controls banks and how they operate, so keep an eye on the changes and deadlines!
Analyzed Economic Effects
3 provisions identified: 1 benefits, 1 costs, 1 mixed.
Foreign Bank Seeks 19.99% of KeyCorp
The Bank of Nova Scotia, Toronto, Canada, has applied to acquire additional voting shares, up to 19.99 percent, of KeyCorp and thereby indirectly acquire voting shares of KeyBank National Association (both of Cleveland, Ohio). The application is listed in the Federal Reserve notice dated March 20, 2026.
Public Comment Deadline and Disclosure
You may submit written comments on these Federal Reserve applications, but comments must be received by April 20, 2026. Comments received are subject to public disclosure and generally will be made available without change, so do not include confidential or identifying business information in your submission.
Public Access to Application Filings
The public portions of these applications and related filings are available for immediate inspection at the listed Federal Reserve Bank(s) and at the Board of Governors' offices, and may be obtained via the Board's Freedom of Information Office.
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Key Dates
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