Banco Latinoamericano de Exportaciones, S. A. (the Bank) is a specialized multinational bank established to finance trade in Central and South America and the Caribbean (the Region). The Bank is principally engaged in providing short-term financing to commercial banks in the Region, which, in turn, lend to businesses primarily engaged in foreign trade and to state and private export institutions. The Bank has two primary subsidiaries, Banco Latinoamericano de Exportaciones, Limited (BLADEX Cayman) and BLADEX Representacao Ltda. The Bank has an agency in the State of New York (the New York Agency), which is principally engaged in obtaining inter-bank deposits and short-term borrowings to finance its short-term investments and foreign trade loans. The Bank also has representative offices in Buenos Aires, Argentina and Mexico City, Mexico. As of December 31, 2002, BLADEX Cayman and the New York Agency held $346.6 million and $160.4 million in assets, respectively.