The Federal Reserve Board has approved the application of National Westminster Bank Plc to establish a representative office in Stamford, Connecticut. The bank, which is a wholly owned subsidiary of NatWest Group plc, has total assets of approximately $604.6 billion and provides core banking services to retail and commercial customers in the United Kingdom. The representative office will act as a liaison with current and prospective US customers, promote and market the bank's products and services, and perform back-office functions. The office will not be allowed to contract for deposits, lend money, or engage in any other banking activities. The Federal Reserve Board considered several factors in approving the application, including the bank's experience and capacity to support the representative office, its record of operation, and its standing with its home country supervisors. The board also considered the financial and managerial resources of the bank, as well as its procedures to combat money laundering and its compliance with US law. The approval is subject to certain conditions, including the bank's commitment to make available to the Federal Reserve Board any necessary information to determine and enforce compliance with US law. The representative office is expected to be established in accordance with the terms and conditions imposed by the State of Connecticut and its Department of Banking.