- 165 -
its outflow of funds for the UB $800,000 NMSC loan that was
assumed by Radcliffe. In addition, Standard Chartered Bank HK
and thereafter Standard Chartered Bank, Singapore, through their
affiliate Union Bank had an inflow of funds (viz., the interest
paid by Radcliffe to Union Bank on the UB $800,000 Radcliffe
loan) that was sufficient to cover their outflow of funds for the
interest paid on the Multi-Credit $800,000 deposit.
With respect to the nature of the relationship disclosed by
the record between the respective rates of interest on the UB
$800,000 Radcliffe loan and the Multi-Credit $800,000 deposit,119
the record establishes that, for the period that began on or
about June 27, 1985, the date on which Radcliffe assumed the
$800,000 loan that Union Bank or one of its branches or predeces-
sors in San Francisco had made to NMSC, and ended on July 10,
1986, the date on which the UB $800,000 Radcliffe loan was due,
the excess of the percentage interest rates on that loan over the
corresponding interest rates on the Multi-Credit $800,000 deposit
that secured that loan ranged from approximately 2 percent to 3.5
percent. We note that that range of difference appears to be
substantial when considered in relation to the range of percent-
age interest rates on the UB $800,000 Radcliffe loan (viz., 10.14
percent to 10.91 percent) and the range of the interest rates on
119 The record does not show that relationship, if any, for the
brief period that began on July 10, 1986, the date on which the
loan was due, and ended on July 23, 1986, the date on which that
loan was repaid.
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