IS U.S. INTERBANK LENDING IN SOUTH AFRICA FOR U.S.-R.S.A. TRADE?

With a Listing of the Overall Exposure of Individual U.S. Banks
by John E. Lind, California-Nevada Committee on Corporate Responsibility
San Francisco, California, United States
September 1985
Publisher: California-Nevada Committee on Corporate Responsibility
18 pages
Type: Report
Coverage in Africa: South Africa
Coverage outside Africa: United States, United Kingdom
Language: English
Contents: Introduction • Private Sector Lending • Interbank Lending • Trade Finance • South African Balance of Payments • Conclusion • Lending by Individual Banks in South Africa • Appendix: Sources and Details of Individual Bank Lending • The report includes TABLE I: Private Sector Outstandings in South Africa by U.S. Bank Group as of December 31, 1984 and TABLE II: LENDING BY U.S. BANKS IN SOUTH AFRICA AT THE END OF 1984. Between the end of 1980 and the end of 1984, lending by U.S. banks to South Africa increased 4.5 times. Interbank lending to South African banks increased over seven fold and accounted for 69% of the total lending by the end of 1984. It appears that balance of payments deficits are being financed by South Africa banks through short-term financing; South African banks are clearly facing a liquidity problem, and it appears that short-term U.S. lending is being used to solve medium-term balance of payment problems. The report mentions state-owned corporations, Citibank, Chase Manhattan, North Carolina National Bank (NCNB), National Westminster USA, Barclays Bank of New York, Schroders (NY), Union Bank of California (Standard Chartered), American Express International, European American Bank, BankAmerica Corp., Morgan, Continental Illinois, First Chicago, Security Pacific, First Interstate, Wells Fargo, Crocker National, Mellon, Bank of Boston, Irving, Bank of New York, Interfirst, Republic Bank (TX), Harris Bancorp, Northwest Corp, MCorp, depreciation of the South African Rand, the American Bankers Association, sanctions, U..S.-South Africa trade, bank and non-bank lending, the Nine Money Center banks, South African balance of payments, gold, South African Reserve Bank, foreign currency, foreign exchange, Bank of England, parastatals, and UK banks.
Used by permission of John E. Lind, CANICCOR Research.
Collection: John Harrington’s South Africa Papers, Michigan State University Libraries Special Collections