NEW YORK -- Chase Manhattan Bank said its foreign exchange unit has established a desk to serve regional banks in the United States and Canada.

The Chase Manhattan Corp. subsidiary said it will enter transactions with counterparties and advise customers on worldwide market conditions, using information from Chase trading centers in Singapore, Hong Kong, Tokyo, Sydney, Frankfurt, and London.

The company said it targets about 100 banks that are foreign exchange leaders in their regions, whether in dealings for their own accounts or in service of their corporate and institutional clients.

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