Birth of the euro
in brief contents
Rabobank
Monthlynewsletterfor Rabobank International fof intBMdl US6 Ollly Issue 1 - January 1999
Tokyo goes live
International
Wbat's NewS networks
its way into the new
year of the euro
What'sNewS
The inauguration of the
euro is now an
accomplished fact for 290
million people living on the
European continent. It has
ushered in a decisive new
phase in European economie
and monetary union. During
the New Years' conversion
Aveekend, both our technology
Pdvisors as well as our front
and back office professionals
acquitted themselves with
distinction: Rabobank was the
first among the large banks in
the Netherlands to declare
itself euro compliant to the
Dutch Central Bank and
Amsterdam Exchanges. These
accomplishments captured
wide domestic and
international media attention
and reflected the dedication of
the conversion team, the
strength of our preparations
and fine execution by our
project management. Already,
in the first week of January,
we have been quick to
establish a profile on the new
euro market, introducing a
EUR 250 million bond
maturing in the year 2002,
aimed at professional investors
under our euro medium term
note program, as well as an
innovative euro deposit
scheme for a broad base of
private savers, retail and
wholesale companies.
Rabobank International (Rl) euro project team, left to right: Hans
Reusch, Eric Tak, Geertje van de Streek and Hanno Riedlin
To sing in the New Year, Rabo
Securities Asia BV, Tokyo
branch has gone live. The
official securities licence was
"btained from the
government of Japan
end November, closely
followed by the first
commemorative onshore
repo trade. The
transaction with the
Japanese cooperative
Norinchukin Bank, also
related to the UNICO
Banking Group, secured
a YEN 12 billion deal.
The now up and running
Rabo Securities Asia BV,
Tokyo branch is the first
fully fledged investment
banking unit of Rabobank
International (RI). The 35-
strong team's product focus is
on credit trading, short term
interest rate products and
derivatives and is complete
with an already successful sales
team covering major Japanese
The team ciosing the first commemorative trans
action for Rabo Securities Asia BV, Tokyo branch
financial institutions.
According to Nobuyuki
Mokkoh, general manager, 'it's
no secret Japanese banks are
facing difficult times, but with
the security of our triple-A
rating, we're shaped to
maximize market oppor-
tunities. We have already
secured some attractive credit
trading deals with many more
in the pipeline. It's great to see
how this organization can
combine expertise from
different places and
make it work.' RI will
soon apply for a
banking licence as well.
Frederik Hoek, deputy
general manager and
chief representative
adds, 'we are expecting
to open a banking
branch in the first half
of this year. Although
we will not be active in
corporate banking in
Japan, we will shift the
money market activities
of the securities branch to the
banking branch for regulatory
and capital usage purposes,
and maybe add foreign
exchange business and some
corporate finance. We'11 be
active in marketing Robeco
asset management capabilities
as well.'
Global financial markets - strategie
realignment 3
Private banking the separation
and its implications 4
F&A policy committee - the board
reconstituted 7
Millennium - a Y2K bug update 8
Wheeling and dealing - compiling
some of our outstanding deals 10
RIAS and the Black Earth Fund
- activities in the Eastern Bloc 11
Talking heads - Tom Stevens on the
hotseat 12
