NEW YORK—The Federal Reserve Bank of New York approved the application filed by The Goldman Sachs Group, Inc., New York, New York, to retain its interest in The First Marblehead Corporation, Boston, Massachusetts, which is the parent of Union Federal Savings Bank, North Providence, Rhode Island, pursuant to Section 4(c)(8) and 4(j) of the BHC Act of 1956, as amended, and Section 225.24 of Regulation Y.

The Reserve Bank acted under authority delegated by the Board of Governors of the Federal Reserve System.