Eleven European banks have formed a nonexclusive association called the Trans-European Banking Services Group to provide transnational banking services aimed at businesspeople.

Initially, the association will offer the banks' clients simplified ways to open accounts through any of the member banks' branches. The association is also studying ways to make account information available through any member bank branch and offer simplified access to the payment system of each country.

Participating banks include Banco Bilbao Vizcaya, HSBC Holdings PLC (Midland Bank), Credit Suisse, Dresdner Bank, Banque Nationale de Paris, Rabobank, Banca Nazionale di Lavoro, Banque Brusselles Lambert, Svenska Handelsbanken, and Bank Austria.

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