Russia crisis bruises Chase

Article Abstract:

Chase Manhattan of New York is anticipating to take in a charge of $200 million in the third quarter of 1998 due to losses in Russia and Asia. The company calculated its credit exposure in Russia to be worth $250 million after the charge. Other companies who are anticipating losses due to Russia's economic problems are Citicorp, J.P. Morgan, BankBoston, BankAmerica and brokerage firm Salomon Smith Barney, while foreign banks that may also be affected include UK-based Barclays, Japan-based Nomura Securities and Deutsche Bank of Germany.

Comment:

Is anticipating to take in a charge of $200 million in the third quarter of 1998 due to losses in Russia and Asia

Sales, profits & dividends, Chase Manhattan Bank N.A. (New York, New York), Article

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ATM surcharge fight hits New York: but banks battle bans on fees for non-customers

Article Abstract:

The New York City Council is developing a bill to prevent banks from setting fees for the use of automated teller machines (ATMs) by other banks' customers. The law will be patterned after that passed in Santa Monica, CA, earlier in Nov 1999. Proponents of the rule say it will prevent banks from double dipping on surcharges for ATM use. Banks counter that cities have no jurisdiction over national network operations and that the fee paid by non-customers for ATM transactions is fair.

Government regulation (cont), Electronic Banking Svcs, Electronic banking

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Russia probe hits 10 U.S. banks

Article Abstract:

Federal investigators have announced that at least 10 US banks might have been used in the diversion of up to $10 billion from Russia. The probe have identified suspicious transactions involving Russian accounts at Fleet Financial Group In, Bank of New York, Republic Bank and Barclays Bank. The accounts belong to or are linked to Benex International, a trading company owned by Russian emigre Peter Berlin.

United States, Legal issues & crime

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