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MANAGER OF PORTLAND BRANCH OF FEDERAL RESERVE BANK RESIGNS

 MANAGER OF PORTLAND BRANCH OF FEDERAL RESERVE BANK RESIGNS
 PORTLAND, Ore., Sept. 18 /PRNewswire/ -- Leslie R. Watters, vice president in charge of the Portland Branch of the Federal Reserve Bank of San Francisco for the past 18 months, has resigned, the organization announced today.
 In making the announcement, First Vice President Patrick K. Barron said, effective immediately, E. Ronald Liggett will assume direct responsibility for the Portland branch. Liggett will continue to serve as senior vice president over the Reserve Bank's northern region, with responsibility for also overseeing the Seattle and Salt Lake City Branch banks.
 Watters ended his 23-year career with the nation's central bank to pursue other career opportunities. He had joined the Portland Branch in the fall of 1969 as a supervisor in the mail area after graduating from the University of Oregon. Watters then served in progressively more responsible supervisory, managerial and officer positions throughout the Portland branch.
 In May 1991, Watters was promoted to vice president in charge of the branch upon the retirement of Angelo S. Carella. In January, Watters was appointed pricing and cost recovery coordinator for the 12th Federal Reserve District which encompasses the nine western states.
 "Les made many important contributions to the Portland branch and the district during his career, and we shall miss him" said Barron. "We thank Les for his contributions to the bank and wish him well in his future endeavors."
 As the nation's central bank, the Federal Reserve System formulates monetary policy, supervises and regulates banks, acts as fiscal agent for the U.S. Treasury and provides operational services to financing institutions. The Portland branch supplies currently and coin along with check-processing services to financial institutions in Oregon, southern counties of Washington and the Idaho panhandle. Among the cities served are Walla Walla, Wash.; Vancouver, Wash.; and the Idaho communities of Coeur d'Alene, Moscow and Lewiston.
 -0- 9/18/92
 /CONTACT: Dean Gonnerman of Federal Reserve Bank of San Francisco, Portland Branch, 503-221-5903/ CO: Federal Reserve Bank of San Francisco ST: Oregon IN: FIN SU: PER


RM-GT -- SF004 -- 1150 09/18/92 13:11 EDT
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Date:Sep 18, 1992
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