FX Week

FIVE YEARS AGO IN FX WEEK

FIVE YEARS AGO IN FX WEEK

FX Week, November 23, 1992

Westpac US Tax Hit Worries Foreign Banks

It isn't the first or only foreign bank to feel the sting of the US Internal Revenue Service, but news that Westpac took a one-time charge of $76 million for the year ended September 30, 1992, for its inter-branch currency swap and forward transactions has shaken the market.

Commerzbank Hires Duttweiler

Commerzbank in Frankfurt has hired Rudolph Duttweiler, treasury director at Credit Suisse in London, to complete an effort to