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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report: September 8, 1998 Commission file number: 1-5805
THE CHASE MANHATTAN CORPORATION
(Exact name of registrant as specified in its charter)
Delaware 13-2624428
(State or other jurisdiction (I.R.S. Employer
of incorporation) Identification No.)
270 Park Avenue, New York, NY 10017
(Address of principal executive offices) (Zip Code)
(Registrant's telephone number, including area code): (212) 270-6000
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Item 5. Other Events
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In connection with recent developments in Latin America, management of The
Chase Manhattan Corporation ("Chase") disclosed certain information relating to
Chase's cross-border exposure to certain Latin American countries as of December
31, 1997 and June 30, 1998. That information is attached as an exhibit hereto.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
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The following exhibit is filed with this report:
Exhibit Number Description
- -------------- -----------
99.1 Information Relating to Latin American Cross-
Border Exposure
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
THE CHASE MANHATTAN CORPORATION
(Registrant)
Dated: September 8, 1998 By: /s/Joseph L. Sclafani
-------------------------
Joseph L. Sclafani
Executive Vice President
and Controller
[Principal Accounting Officer]
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EXHIBIT INDEX
Exhibit Number Description Page at Which Located
- -------------- ----------- ---------------------
99.1 Information Relating to Latin 5
American Cross-Border Exposure
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EXHIBIT 99.1
LATIN AMERICAN COUNTRY CROSS-BORDER EXPOSURE(1)
(in billions)
June 30, 1998 December 31, 1997
------------------------------------------- ----------------------------------------
Lending- Foreign Total Lending- Foreign Total
Related Exchange & Cross-Border Related Exchange & Cross-Border
COUNTRY & Other(2) Derivatives(3) Exposure & Other(2) Derivatives(3) Exposure
- ------- ----------- ------------- ------------ ---------- -------------- ------------
Brazil $ 4.2 $ 0.1 $ 4.3 $ 4.7 $ 0.2 $ 4.9
Argentina 3.0 0.1 3.1 3.2 0.1 3.3
Mexico 2.0 0.5 2.5 2.7 0.3 3.0
Chile 1.1 0.0 1.1 1.5 0.0 1.5
Colombia 1.0 0.0 1.0 0.8 0.0 0.8
Venezuela 0.5 0.0 0.5 1.0 0.0 1.0
---- --- ---- ---- --- ----
Sub Total $ 11.8 $ 0.7 $ 12.5 $ 13.9 $ 0.6 $ 14.5
All Other 0.9 0.2 1.1 1.4 0.1 1.5
---- --- ---- ---- --- ----
Total(4) $ 12.7 $ 0.9 $ 13.6 $ 15.3 $ 0.7 $ 16.0
==== === ==== ==== === ====
(1) Cross-border exposure represents both public and private sectors and is
presented net of written guarantees and tangible liquid collateral held
outside the foreign country.
(2) Includes loans and accrued interest, interest-bearing deposits with banks,
trading debt and equity instruments, acceptances, other monetary assets,
issued letters of credit, undrawn commitments to extend credit and local
currency assets, net of local currency liabilities.
(3) Foreign exchange largely represents the mark-to-market exposure of spot
and forward contracts. Derivatives largely represent the mark-to-market
exposure of risk management instruments. Mark-to-market exposure is a
measure, at a point in time, of the value of a foreign exchange or
derivative contract in the open market.
(4) Excludes Bermuda and Cayman Islands.