Three Banks Given Underwriting Power: Bankers Trust...

Three Banks Given Underwriting Power: Bankers Trust New York Corp. and two Canadian banks won permission from the Federal Reserve Board to underwrite corporate stock. Bankers Trust, only the second U.S. bank holding company to win such permission, will underwrite, as well as buy and sell, corporate stock through a subsidiary, B. T. Securities. Also granted securities underwriting permission were Wood Gundy Corp. of New York, a subsidiary of Canadian Imperial Bank of Commerce, Toronto, and RBC Dominion Securities Corp., New York, a subsidiary of Royal Bank of Canada, Montreal.