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| | FRB: Press Release -- Approval of application of Piraeus Bank S.A. -- June 14, 1999 |
 | | Piraeus, with consolidated assets equivalent to approximately $4.6 billion, is a commercial bank organized under the laws of Greece. |
 | | Piraeus is required to submit a number of financial reports to the Bank of Greece, including semiannual reports concerning, among other things, profit and loss, capital adequacy, liquidity, asset quality, large exposures, currency positions, loans and guarantees to affiliates and insiders, investments in other financial and nonfinancial institutions, and 10-percent shareholders. |
 | | Piraeus has committed that, to the extent not prohibited by law, it will make available to the Board such information on the operations of Piraeus and any of its affiliates that the Board deems necessary to determine and enforce compliance with the BHC Act, the IBA, and other applicable federal law. |
| www.federalreserve.gov /Boarddocs/press/bhc/1999/199906142 (1704 words) |
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