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BANK OF AMERICA RESIGNS FROM PANAMA BANKING COMMITTEE

 SAN FRANCISCO, Feb. 3 /PRNewswire/ -- Bank of America (NYSE: BAC) today announced that it has presented its resignation from Panama's Bank Advisory Committee to Panamanian Minister of Planning and Economy Delia Cardenas, because its public sector loans to the Republic have been reduced to a nominal amount.
 Bank of America has substantially reduced its exposure to restructuring countries over the past several years. Totaling $5.7 billion in Dec. 31, 1989, the bank's medium- and long-term restructuring country debt had dropped to $1.1 billion at Dec. 31, 1991, and to $570 million at December 1992.
 The bank had been chair of the Panama banking committee since its formation in 1983. It has also been the agent for the 1983 and 1985 Restructuring Agreements between the Republic of Panama and its commercial bank creditors.
 Current members of the Bank Advisory Committee include Bank of Nova Scotia, the Bank of Tokyo, Banque Nationale de Paris, The Chase Manhattan Bank, Citibank, Dai-Ichi Kangyo Bank, First Chicago, Lloyds Bank International and Swiss Bank Corporation. Deutsche Sudamerikanische Bank was a member until its resignation last year.
 -0- 2/3/93
 /CONTACT: Jim Mitchell of Bank of America, 415-622-4314/
 (BAC)


CO: Bank of America ST: California IN: FIN SU:

SG -- SF009 -- 2656 02/03/93 18:10 EST
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Publication:PR Newswire
Date:Feb 3, 1993
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