WASHINGTON - The Federal Reserve Board late last month gave three banks permission to expand. The Fed gave The Farmers Bank of China, Taipei, permission to establish a branch in Los Angeles. The $13.7 billion institution operates 56 branches in Taiwan and one in Seattle.

The Fed also gave Premier Bank of Wytheville, Va., permission to acquire four branches from a NationsBank subsidiary. The $495 million-asset Premier will become Virginia's 11th-largest commercial bank, controlling $559.3 million in deposits.

Finally, the Fed approved a bid by Banco del Rio de la Plata of Buenos Aires to open a representative office in New York City. The $2.3 billion- asset bank would market its services from the office. It would not accept deposits or transact bank business.

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