Rabo band The dollar forecast Issue 2/September 23, 1988 mense. The food and fiber system in the US is 20% of Gross National Product. Even without production, agriculture and farm in- puts, food and fiber processing and distri- bution activities still account for 13% of GNP. In response the Branch continues to move energetically in agribusiness lending and commodity finance, opening Loan Production Offices in Dallas and San Francisco and developing a new merchant banking capacity to engage primarily in cor- porate finance for agribusiness compa- nies, including intermediating in debt and equity placement, as well as assisting with mergers and acquisitions. Opportunity continues also because of the strong and expanding links between the US and Holland. Direct foreign invest- ment from Holland in the US grew to US$ 47,000,000,000 in 1987, making the Netherlands second only to the United Kingdom. Imports into Holland from the US grew to DFL 14,600,000,000 and ex- ports to DFL 9,300,000,000. Rabobank's central bank and member bank ciients are involved in a significant portion of these in- vestment and trade activities. Helping them identify, take advantage of and promote opportunities is the focus of the Branch's Commercial Banking Department and Dutch Desk. Both past accomplishments and future opportunities depend on concurrent suc- cesses in establishing strong operations and administrative departments: 'One only gets a few chances to do it right and only one chance to do it wrong.' Letters of cred it, collections, and bankers acceptances are handled quickly and well. Processing and transfer operations move millions of dollars each day and include funds which are part of the bank's Quick Cheque Service. And success generates interest, the fa ther of reports: audit reports, reviews, management reports, financial reports, all provided increasing detail and with in- creasing frequency. Efficiënt, lean and mean Accounting and Reporting and Audit departments keep us whole. The New York Branch. State of the art systems are no longer optional, but a competitive imperative. Real-time on-line systems provide more data ever more quickly, challenging man agement analytical skills to keep pace. Electronic mail, between desks, between states, (between nations soon) presses the pace of information processing and de- cision making. Our own Systems depart- ment reviews, revises, improves, updates. Legalistic societies where everything is allowed unless specifically forbidden, de- mand an emphasis on detailed, precise, inclusive agreements, with documentation running into volumes. Two staff attorneys work late into the night drafting, reviewing, advising, negotiating. Risk management assumes a role be- yond financial credit analysis and engages in field collateral inspections of cattle pens, storage facilities, and canned im- ported tuna. The Senior Credit Manager keeps a collateral inspector on the road full time reporting from the nooks and crannies of the great heartland states. Good people The level of competition for good business is matched only by the level of competition for good people. In a society with relatively few statutory and collective agreements, and in a city where 'head-hunting' is a major modern profes- sion, each bank is on its own to develop policies, incentives, and procedures which attract and retain the most qualified staff. Human Resources staff entice, cajole, hu mor, encourage, guide and protect a staff of ever increasing diversity in both nation- ality and professional background. Dynamic environments, competitive challenges, quick but controlled growth. All these forces test will, strain resources, de- mand coordination and teamwork and put a premium on communication and under- standing. Regular staff travel between Utrecht and the New York branch con- tributes to clarity; the rotating assignment of expatriates to New York (3 at a time) builds deeper understanding; Raboband International helps build a sense of the in ternational community; and Rabo-NY-news captures some of the excitement and fun of the US endeavor. Visits of staff from all the branches and representative offices are welcome and encouraged. Since our staff collectively has worked in over 17 dif ferent foreign banks, who knows, it is ew likely you'll meet someone from home. Hugo Steensma, General Manager New York Branch. Early this year 250 colleagues made their forecast for the guilder/dollar ex- change rate. The fixing date will be the 13th of December next. At the 22nd of January 1988 the rate was 1.8765 guilders to the dollar. The average fore cast for the end of this year is 1.9839, with the extremes being 1.4 and 2.6569, respectively. On the lst of August we noted an exchange rate of 2.12 to the dollar. It is too early yet to mention the name of the potential win ner. Last year the average forecast was 2.1169 to the dollar, with a bottom rate of 1.737 and a top rate of 3.23. Staff SystemsAudit, FX&FM Processing and Office Services. H WÊgKÊM mm

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blad 'Raboband International' (EN) | 1988 | | pagina 4