The report describes BankAmerica Corporation as a diversified holding company with more than a dozen bank-related enterprises. This global organization provides corporate, government, and individual customers with a broad range of financial services. Its World Banking Division provides primarily wholesale lending and associated activities to corporations, other banks, and foreign governments and agencies. In more than 100 countries outside the U.S., clients are served through a network of branches, representative offices, subsidiaries and affiliates. South Africa has borrowed over $2 billion to finance massive development projects and increases in defense spending, and U.S. banks are heavily...
The report describes BankAmerica Corporation as a diversified holding company with more than a dozen bank-related enterprises. This global organization provides corporate, government, and individual customers with a broad range of financial services. Its World Banking Division provides primarily wholesale lending and associated activities to corporations, other banks, and foreign governments and agencies. In more than 100 countries outside the U.S., clients are served through a network of branches, representative offices, subsidiaries and affiliates. South Africa has borrowed over $2 billion to finance massive development projects and increases in defense spending, and U.S. banks are heavily involved in financing such loans. The Bank admitted to having $188 million in outstanding loans to South African interests in April 1977, which is about 10% of what South Africa has raised in the U.S. (not including participation in other consortia). The report mentions Bank of America N.T. and S.A., Citicorp, Barclays Bank International Limited, A.W. Clausen, Dow Chemical, Caterpillar Tractor Co., Eastman Kodak, Exxon, General Electric (GE), General Motors (GM), Ingersoll-Rand, IBM, 3 M, PepsiCo, Standard Oil of California, Edge Act Corporations, and red-lining. The report includes a table showing BankAmerica’s major operating subsidiaries.
