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Rabobank registers as swap dealer in the US

Rabobank, the global food and agribusiness bank, has provisionally registered as a swap dealer to “further bolster its risk management offerings” to corporate and financial institutions in the US.

The Netherlands-based bank, whose overseas office locations include New York, said that registering as a swap dealer allows it to better service its US clients’ financial risk management needs.

“Rabobank offers high-quality, competitively-priced risk management products to mitigate interest rate, currency and commodity risks,” the bank said in a statement.

“Swap dealer registration, combined with its deep roots in the food and agribusiness sector, puts Rabobank in a position to share in-depth knowledge and provide clients across the entire food value chain with customised solutions on risk management.”

A logical move

“Given the strategic importance of and our commitment to the US market, registering as a swap dealer was a logical next step to better service our North American food and agribusiness clients,” said David Bassett, Rabobank’s head of wholesale banking, North America. “We are thrilled about this expansion of our business.”

Pillars of Title VII of the Dodd-Frank Act include reducing systemic risk, increasing transparency and promoting market integrity in swap markets. Rabobank comments that as a swap dealer, the bank is subject to a wide array of regulatory requirements and is under the supervision of the Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA). It is one of about 100 provisionally registered swap dealers globally.

“Market transparency is especially important in the swap market and we look forward to providing increased transparency to our US. clients, said Neil Williamson, Head of Corporate Risk Treasury Management for North America.

“Now that we are a swap dealer, we want to have even more intimate conversations with our clients about their financial risks. We have a highly competitive and unique client offering because of our solid credit ratings, exceptional and experienced specialists along with unparalleled market research and insight into the food and agricultural sector.”

Rabobank, whose origins go back to the forming of two cooperative bank conglomerates in Utrecht and Eindhoven in 1898, now provides wholesale and retail banking, leasing, and real estate services in nearly 40 countries worldwide.

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