Corrigan Attends Moscow Bank Seminar
E. Gerald Corrigan, president of the Federal Reserve Bank of New York, went to Moscow last week to meet with some 200 Soviet bankers at a three-day training seminar.
Mr. Corrigan was accompanied by a contingent of U.S. and European managers from several New York banks and two banks outside New York, said Fed spokesman Peter Bakstansky.
U.S. Banks in Attendance
Representatives from Manufacturers Hanover Trust Co. and Bank of New York were involved in the seminar, which was expected to address a range of brick-and-mortar issues in commercial banking.
The team was also believed to include representatives from Citibank, Chase Manhattan Bank, Bankers Trust, and Chemical Bank.
The Russian trainees were managers from major commercial and state banks, including Gosbank and the Central Bank of Russia.
Western Regulatory Methods
The Russian central bank is particularly eager to tap the Fed's expertise regarding Western-style banking regulation, said its chairman, Georgy G. Matjhukin. In recent months the Russian bank has sought to replace Gosbank as the central bank of the Soviet Union.
Frederick C. Schadrack, a retired executive vice president for supervision at the New York Fed, was to speak on that topic at the Moscow seminar.