1988-06-01 12:01 AGC
852 5 865 2720 P.03
RESIDENT PARTNERS
JAMES A WATKINS ALAN W BLACK
SIMON W ATIYAH RAVMÓNÉ M 20HEN RICHARD KENDALL IRENE 3 - LOW VERONICA A OSHÉA
BRIDGET & WILLIAMSON
SOLICITORS
BRINGLEY R NICHOLSON DAVID BARNES
SHARON A BEESLEY
NICHOLAS W EASTWELL
KELVIN W Y LO
AILEEN E MCDONALD SIMON J REID KAY
W WILLIAM A WOODE
LINKLATERS & PAINES
14TH FLOOR ALEXANDRA HOUSE. CHATER ROAD, HONG KONG
TELEPHONE: 5-8424888
TELEX 83695 FAX GPS 1 & II 5-8108133 · 5-8101895
DX-9105-C HONG KONG
DIRECT TELEPHONE. §. 8424801.
LONDON
59-87 GRESHAM STREET LONDON EC2V 7JA TELEPHONE 01-606 7080
TELEX 884349 / 888167 FAX. 01-606 5113
Mr. Stefan Gannon,
Monetary Affairs Department, 9th Floor,
Queensway Government Offices.
66 Queensway,
Hong Kong,
+
Dear Mr. Gannon,
BRUSSELS
YOUR REF
NEW YORK
PARIS
OUR REF
DAB
24th May, 1988
TOKYO
Rainier International Bank
Private Ordinance
Further to my letter of yesterday's date, I am enclosing a faxed copy of a good standing certificate regarding Rainier International Bank. I am expecting to receive the original within the next couple of days. This is the document referred to in paragraph 1 of my letter of yesterday's date.
I am advised by Rainier's advisers in Seattle that the Federal Reserve Bank of San Francisco (the "Bank") is a quasi- governmental entity under the direct supervision of the Board of Governors of the Federal Reserve System ("FRB"), an instrumentality of the United States government. As one of twelve regional Federal Reserve Banks, the Bank is chartered under federal law and its capital stock is held by member banks within its region. The Bank is managed by a nine-member board of directors, two-thirds of which are elected by the stockholder banks and one-third of which are appointed by the FRB. Such Federal Reserve Banks were established by the Federal Reserve Act in 1913 as part of a United States governmental effort to provide for a more effective supervision of banking in the United States. The FRB, the regional Federal Reserve Banks, and the member banks comprise the Federal Reserve System.
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