WASHINGTON -- The Federal Reserve has approved applications from three foreign banks to set up representative offices in the United States.

Singer & Friedlander Ltd., a London-based merchant bank, won approval to open a state-licensed office in Miami. The office will focus on activities in the United States and Latin America.

Other green lights were given to Citizens National Bank of Seoul, South Korea's seventh-largest bank, for an office in Los Angeles, and to Medium Business Bank, owned by the provincial government of Taiwan, also for a Los Angeles office.

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