Chicago
expansion
After
the EMS
US Mid-West
hit by flooding
Information
in news
Belgian
treasures
Looking
ahead
Secret service
Hat trick
Staff communication magazine
for the Rabobank Group
SECRET ENOUGH
y SECURITY Q
Lmm IS YOUR RESP0NS1BILITY
Rabobank North America is
to open a loan production office
in Chicago to serve its Mid-
West customers, enhance mar-
ket penetration and improve
marketing effectiveness. Offi
cial approval from the US aut-
horities has been applied for
and inauguration is slated for
spring 1994. Forecasts indi-
cate that some 18 personnel
could be required by 1995.
Devastating flooding in America's Mid-West region led the US
government to declare a national emergency. Rabobank's man
on the spot, agribusiness banker Larry Sidwell. puts the disas
ter into perspective.
'It started with an eight to nine
month period of very change-
able weather,' says Sidwell.
'Usually, our main problem is
drought, but this year the weat
her was crazy. Sometimes
we've have as much as seven to
eight inches of rain in a couple
of hours. This caused the ter
rible flooding that was shown in
the media. In terms of real im
pact on our clients in the region,
it's still difficult to teil what will
happen. The wet spring meant
that a lot of acreage wasn't
planted, and what was planted
is currently two to three weeks
behind because of the bad
weather. I can only say that
there's still a chance of a fairly
reasonable harvest if the next
35 days are more stable and we
have a good fall and no early
frost. An early frost could reduce
yields substantially.
'Most of our clients appear to
have come through this period
fairly well. Again, it's hard to teil
exactly what the fuil impact will
be. Barge traffic on the Missis-
sippi has been disrupted be
cause of the flooding and this
has meant problems for grain
companies. The food and seed
businesses have also been im-
pacted, and the slow spring has
troubled the fertilizer market.
'However, some of the compa
nies which were hard hit by the
Continued on page 2.
Recent pressure on some
European currencies leading to
the broadening of ERM bands
produced turbulence on the
world's money markets. How
ever, Rabobank's treasuries
came through the shocks to the
currency markets comfortably.
Risk control has long been part
of Rabobank basic policy, and it
has paid off once again. Even
at the height of EMS turbulence
at the end of Juiy, Rabobank's
treasuries maintained their nor-
mal low-risk orientened stance.
In view of expected further fluc-
tuations, currency positions will
remain limited until future
European interest rate develop-
ments can be evaluated.
The foreign offices depart-
ment began publishing a bi-
monthly information manage
ment newletter in June.
The newsletter's aim is to keep
staff in the international offices
informed on system develop-
ments both in Utrecht and
abroad. Subjects covered will
include EximBills, Sybase, E-
Mail and all of the other types
of computerization used in the
bank. For a copy or more infor
mation on how to contribute to
or simply receive the newslet-
ter, contact Sjaak Verschoor on
+31 30 904788.
The bank's asset and liabil-
ity management is becoming
increasingly fine-tuned and
streamlined, as treasury man
agers discovered during their
recent meeting in Antwerp. Off-
balance sheet products were
the main focus and tools to im
prove and steady performance
were presented. But managers
also had the opportunity to see
some of the Belgian city's
artistic treasures as Antwerp is
this year's European Cultural
Capital.
A group of member banks in
the horticultural region of the
Netherlands, known as the
Westland, is organizing a one-
day seminar for its internation
al clients on October 5. Spain is
the chosen theme and Madrid-
based Popular Rabobank's GM
Arnout van Schelven will ad-
dress the meeting. For more in
formation, contact Peter Weber
on +311740 37333.
See page 4.
South American clients of
Rabobank Rotterdam were the
focus of food and agribusiness
account manager Jan van den
Ende's recent visit to the
Brazil office.
'The trip was hosted by our Can
Do Team,' says Brazil's GM Teun
de Boon, 'and was designed to
maintain good relations with
Rabobank Rotterdam's cus
tomers here and reinforce our
international networking.' Let's
hope Van de Ende, who speaks
fluent Spanish, only wore the hat
for the photograph.
