Svenska Handelsbanken becomes ECU clearing bank
As part of its preparations for European Monetary Union (EMU) and the introduction of the new common currency, the euro, Svenska Handelsbanken will become a clearing bank for ECU (European Currency Unit), the basket currency, on 2 February 1998.
ECU clearing will be conducted by the ECU Banking Association (EBA) which at present consists of 49 major banks which together carry out clearing in co-operation with S.W.I.F.T. and BIS.
For further information, please contact Lars O Grönstedt, Head of Business Development, tel: +46 8-701 16 33 Ellen Johnn, Project Manager, tel: +46 8-701 28 99.