FSM BANKING SYSTEM ASSETS DOWN IN FIRST QUARTER

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(Monday, September 29, 1997) In the Federated States of Micronesia, commercial banking system assets have decreased by eight percent, or almost $US10 million, for the quarter ending March 31, 1997 compared to the same period last year.

The FSM consolidated bank sheet shows assets of $120,399,000. For the quarter ending March 31, 1996, the total was $130,247,000.

The FSM banking system consists of the Bank of the Federated States of Micronesia, the Bank of Guam, and the Bank of Hawaii.

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