Union Bank sold some foreign loans to its parent.

The Los Angeles-based bank said it received $462 million, or 98 cents on the dollar, from the sale of loans in Latin America, Europe and the Middle East to its parent, London-based Standard Chartered Bank. Only about $23 million of those loans were ones on which the bank was receiving little or no interest. Union Bank said the move was designed to allow it to expand its domestic business base and its business with Pacific Rim nations.

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