by Northern California Interfaith Committee on Corporate Responsibility
San Francisco, California, United States
March 1985
4 pages
Type: Pamphlet
Coverage in Africa: South Africa
Coverage outside Africa: United States, Canada, Europe, Germany, Japan, United Kingdom
Language: English
Contents:  ECONOMY IN CRISIS • SOUTH AFRICAN BANKS • CALIFORNIA BANKS • CONCLUSION • Sources and Estimating Procedures • SHAREHOLDER ACTIVITY CONCERNING SOUTH AFRICA • Figures: Figure 1. South African debt to the banks of the industrialized nations • Figure 2. Exposure of U.S. bank in South Africa by sector of the South African economy • Figure 3. South African debts to the Banks of the Industrialized Nations and to the U.S. banks • Figure 4. South African debt to the banks of the United Kingdom and the Federal Republic of Germany Tables: Table I. Assets of the South African Banking System (December 1980) • Table II. Summary of Lending in South Africa by California Banks • The pamphlet says lending in South Africa by U.S. banks increased 4.3-fold between the end of 1980 and mid-1984. This increase has been primarily to private banks in South Africa; this results in a seven-fold increase in interbank lending in this period. It is possible that short-term debt is being used to finance long-term capital outlays; if so, the South African banks are in a very precarious position. The pamphlet quotes South African Minister of Finance Owen Horwood. The pamphlet mentions banks in the Europe, Canada, and Japan. It also mentions the EEC (European Economic Community), the Bank of England, the South African Reserve Bank, Barclays National Bank, Standard Bank (Standard Chartered), Nedbank, Volksas Bank Holding Corp., BankAmerica (Bank of America), Wells Fargo, Crocker (Crocker National Bank), First Interstate, Security Pacific National Bank, money center banks, the government and state owned corporations, South African Transport Services (SATS), Lloyds Bank of California, Lloyds (U.K.), the Bank of the West, Banque Nationale de Paris, Deutsche Mark bonds, parastatal corporations, the Electricity Supply Commission (ESCOM), Citicorp, Chase, Manufacturers Hanover, Morgan Guaranty Trust, Chemical Bank, Bankers Trust, First Chicago Corp., Continental Illinois, outstanding loans, the New York City Employees Retirement System (NYCERS), the Sullivan Principles, the Bank for International Settlements (BIS), Amdahl, American Hospital Supply, Bucyrus-Erie, Champion Spark Plugs, Chesebrough-Ponds, Ford, General Motors (GM), General Signal,  Lubrizol, Martin Marietta, Motorola, Newmont Mining, Oak Industries, Phibro-Salomon, Revlon, A.H. Robins, Searle, Singer, Church groups, Bausch and Lomb, Ingersoll-Rand, Timken, Cigna, American International, Nalco Chemical, NCNB, Chevron, Raytheon, Swiss banks, the Bank of Canada, and the SEC.
Used by permission of John E. Lind, CANICCOR Research.
Collection: Miloanne Hecathorn papers