Experience

Banking Operations in Russian Federation

Citibank

Chadbourne is advising Citibank with respect to its operations in the Russian Federation, including with respect to securities lending, hedged transactions, litigation, swaps and forward operations, currency control, labor law, and client accounts.

Chadbourne assisted Citibank with its establishment of a fully licensed Russian commercial bank in November 1993. Notably, we were successful in establishing that Citibank had met the criteria in a Presidential Decree allowing Citibank to provide full banking services, free of restrictions applicable to other foreign banks. We advised Citibank on the lease of a land plot, and the purchase and renovation of an office building. We continue to assist Citibank in its banking and financing work in Russia, including the development of standard documentation for its operations in Russia, its capital increase, its certificate of deposit program, its role in the securities markets, and its custody/depositary operations.