Midland Opens Branch In Sydney Following Easing Of Regulations
BANKS
The foreign exchange operations of HongkongBank of Australia have been transferred to a new branch operation, Midland Bank Plc, Sydney. The new branch status significantly increases the FX group's ability to deal in the market under the Midland name.
Before the Australian government changed its rules on branch banking last year, banks such as Midland could only operate as subsidiaries.
But now, a number of banks are converting their operations from subsidiaries to branches; however, Midland is
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