7 . ▁The ▁company ' s ▁principal ▁office ▁of ▁business ▁at ▁the ▁One ▁Wall ▁Street ▁office ▁previously ▁held ▁by ▁the ▁Bank ▁of ▁New ▁York . ▁The ▁full ▁name ▁of ▁the ▁company ▁became ▁The ▁Bank ▁of ▁New ▁York ▁M ell on ▁Cor p ., ▁with ▁the ▁B N Y ▁M ell on ▁brand ▁name ▁being ▁used ▁for ▁most ▁lines ▁of ▁business . ▁ ▁Post - mer ger ▁history ▁In ▁October ▁ 2 0 0 8 , ▁the ▁U . S . ▁Tre as ury ▁named ▁B N Y ▁M ell on ▁the ▁master ▁cust od ian ▁of ▁the ▁Tr ouble d ▁As set ▁Rel ief ▁Program ▁( T AR P ) ▁b ail out ▁fund ▁during ▁the ▁financial ▁crisis ▁of ▁ 2 0 0 7 ▁to ▁ 2 0 1 0 . ▁B N Y ▁M ell on ▁won ▁the ▁assignment , ▁which ▁included ▁handling ▁account ing ▁and ▁record - keep ing ▁for ▁the ▁program , ▁through ▁a ▁b idd ing ▁process . ▁In ▁November ▁ 2 0 0 8 , ▁the ▁company ▁announced ▁that ▁it ▁would ▁lay - off ▁ 1 , 8 0 0 ▁employees , ▁or ▁ 4 ▁percent ▁of ▁its ▁global ▁work force , ▁due ▁to ▁the ▁financial ▁crisis . ▁ ▁According ▁to ▁the ▁results ▁of ▁a ▁February ▁ 2 0 0 9 ▁stress ▁test ▁conducted ▁by ▁federal ▁regul ators , ▁B N Y ▁M ell on ▁was ▁one ▁of ▁only ▁three ▁banks ▁that ▁could ▁with stand ▁a ▁w ors ening ▁economic ▁situation . ▁The ▁company ▁received ▁$ 3 ▁billion