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IBAA TO PARTICIPATE IN TRAINING PROGRAM FOR RUSSIAN BANKERS

 WASHINGTON, March 15 /PRNewswire/ -- The Independent Bankers Association of America (IBAA), together with the Federal Reserve Bank of New York and the American Bankers Association, will participate in a Russian-American Bankers Forum, which will host about 250 mid-to- senior level Russian bankers for an intensive eight-week training program in the United States. NY Fed President E. Gerald Corrigan, IBAA Executive Vice President Kenneth Guenther, and ABA Executive Director Donald Ogilvie, will serve on the Board of Overseers for the forum.
 The project will be funded in large part by a grant from the U.S. Agency for International Development.
 Under this program, officially called the "Academy for Advanced Studies in Banking and Finance," about 250 English-speaking Russian bankers will receive classroom training at Fairfield University in Connecticut for a five-week period beginning in mid-June. Faculty for this "university phase" will be drawn from U.S. commercial banks, including IBAA members, and other private institutions, and the curriculum will include all aspects of banking and finance.
 Following this phase, the Russians will travel in pairs to approximately 100 U.S. banks of all sizes for a three-week "on-the- job" training phase. IBAA is working with the NY Fed and ABA in the selection of the host banks. Host bankers will be expected to make arrangements for the visitors' room and board, and provide hands-on training in day-to-day banking issues. It is anticipated that many of the visiting Russians will be hosted in private homes.
 The Russian-American Bankers Forum was created last year at the request of Russian President Boris Yeltsin to assist in the reform of the Russian banking and financial system. Co-chairing the forum are Corrigan and Yuri Vorontsov, Russian ambassador to the United Nations. The academy is the first training program sponsored by the forum.
 IBAA President James Lauffer noted that this program will give community bankers a unique opportunity to support reform efforts in Russia. "By hosting the Russian bankers and letting them see first- hand not only how the free enterprise system works, but how normal middle-class Americans live, we will contribute in a direct, tangible way to the conversion of Russia to a free market economy." Lauffer is president, chairman and CEO of the First National Bank of Herminie, Irwin, Pa.
 -0- 3/15/93
 /CONTACT: Ken Guenther or Ron Ence of the Independent Bankers Association of America, 202-659-8111/


CO: Independent Bankers Association of America; Federal Reserve Bank
 of New York; American Bankers Association, ST: District of Columbia IN: FIN SU:


TW -- DC013 -- 6018 03/15/93 12:01 EST
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Publication:PR Newswire
Date:Mar 15, 1993
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