In July 1865, City Bank converted its state charter to a national one, taking on the new name of National City Bank of New York.
In July 1865, City Bank converted its state charter to a national one, taking on the new name of National City Bank of New York. This prestigious designation demonstrated that the bank met the federal government’s higher standards of solvency and liquidity and enabled the bank to become a depository for the federal government and required reserves of national banks in other cities.
National City Bank of New York was the bank’s name for close to a century and it became one of the most recognizable names in banking around the world. With the capacity to offer a broader range of services, this marked a pivotal step in the bank’s transformation into the Citi of today.