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REPUBLIC NEW YORK $250 MILLION SUBORDINATED NOTES RATED 'AA-' BY FITCH -- FITCH FINANCIAL WIRE --

 NEW YORK, Oct. 14 /PRNewswire/ -- Republic New York Corp.'s newly issued $250 million, 5.875 percent subordinated notes due Oct. 15, 2008, are rated "AA-" by Fitch. The credit trend is stable.
 The corporation's ratings reflect the dependable deposit funding from both domestic and off-shore sources, the high level of risk adjusted capital ratios, good control of overhead expenses, seasoned management, high asset quality and relatively strong (and sustainable) coverage of non-performing assets, along with growing core profitability and earnings.
 Republic continues to enjoy a somewhat unique niche in U.S. banking. Its low percentage of loans to total assets, only about 22 percent, is far different than for the majority of domestic banking companies. Republic's usage of re-deposit placements for roughly one-third of its earning assets also gives the organization a distinct balance sheet composition when compared to U.S. banks. While the spread differential between its cost of funds and that earned on these deposit placements is narrow, the maturity schedule of these investments provides Republic with a very high level of liquidity.
 -0- 10/14/93
 /CONTACT: Fred W. DeBussey of Fitch, 212-908-0521/
 (RNB)


CO: Republic New York Corp. ST: New York IN: FIN SU: RTG

TW -- NY088 -- 2433 10/14/93 16:38 EDT
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Publication:PR Newswire
Date:Oct 14, 1993
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